Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-03-27
The. Great, Collapse in Gold-GOm=F
menfs OF the Money Writer'S

The active movement in government sc.
curities, and the decline of the price OF
gold to 145, are the events of interest in
the financial circles. The decline Ia the
price of gold has checked all business, as |
buyers are not willing to pay the same
prices charged when gold was higher. u
the price of gold continues to decline, and
it is caused by the adoption OF sound prln-
ciples of finance, then the price of all
stocks, bonds, produce, aud every descrip-
ton of property will soon followlas their
legitimate results. The tumble In the
prices of everything which seemssimminents
will bring comfort and plenty to the milli-
ons of loyal people who are supported by
thing cheaper is equivalent to increased
wages, salaries, and incomes for the mass
of the people. If Mr.. Chase has really
started on the road to specie standard
for prices it will prove great boon 10 the
people, and will cause a rapid and large
decline in prices. Gold may be accepted
as the forerunner Of this desired result,
and its fall from ia to 145 in fewaWeeks
ought to be followed in the same ratio of
decline in all commodities and property.
The prices of gold outside of the regular.
board were, at 10 O'Clock a. NJ. $50; 1920
A. NJ, 1493; IL A. NJ, 1488S{to 1881; 1915.
P. NJ l498 P. ~, 147 p. NJ, l464 !;
and 3 z. NJ, 1464. At the first board
sales were made at l49 to l4s8, aud ut the
second board at 146f to 1861. Large
sums of gold were bought by foreign firms,
who seem prepared to buy and pay for any.
amount of gold that is offered at the coF-
rent quotations of the hour The decline
in the price of gold has added Immensely
to the profits of foreign banking firms. As
a gold producing country, this decline in
its price has made our ''gold merchRndise'
the cheapest article that foreigners can
buy and export to Europe. The rcduc-
ton in priceis an Involvement to export
t.gold merchandise" instead of 'sflour and
other produce merchandise" Our Imports
will be paid in gold instead of produce,
because gold is cheaper relatively at pres
ent quotations. When produce prices fol-
low those of gold, and also decline, then
our produce exports will increase, but not
until this change takes place.
From the Hsrald-UnIon. i. l5s,.i.
This has been another field Glay for the
bears in gold. The price opened ct 15l,
declined almost without a check TO il463,
rallied to l47, sold at l4539I452, 14e@
1859 in the afternoon, and closed at l463
bid. Exchange sold pretty freely in the
morning at 165, declined to 1161(9l6O, and
was almost unsuitable in the afternoon
No particular cause has been assigned for
the sudden decline in gold. Its partly
due to the revival of confidence IN the gov
ernment, which is evidenced by the large
subscriptions to the public loans; partly
to the general expectation of success. in the
Southwest, and partly to the idea chat the
government is negotiating with European
capitalists for a loan. Rumor states that
the steamer of tomorrow will take out the
answer of the Secretary to the various pro !.
positions which are said to have been
made to him by the representatives of for
eign capitalists. hIr. William q. Aspin-
wall and his son, Colonel .Aspinwall, leave
IN the steamer of Tomorrow, and the
street suspects them of being entrusted
with powers by the Secretary. II is i'm
possible to form any idea of the probable
extent of the decline in gold, To-day's
fall had the effect OF checking transactions
in produce, and rendered5it impossible, to
execute foreign orders f,ar limited States
securities: simultaneously with this de-
cline there was another heavy fall in cot
ton, which was accompanied by a Similar
fall in cotton goods so that altogether the
day has been an eventful one among mer-
chants. The check to the trade in pro.
duce will, of course, only be tenn porary..
From the N. Y. Express Copperhead. Is
The reactionin Gold and the break down
in Foreign Exchange, begin to tell upon
prices of all America produce, manufac.
tured goods, and foreign i'm ports generally
The prices current arc full Of CLOVER
"dull. 'small sales" s'absence of specil-
lation,' y "limited demand Forconsumption. i
and score of other phrases, all going to
prove, that in the absence of severe mill.
tary disaster, prices are soon to be well on
the way back to a comparatively moderate
scale. fT u - -
This return to reasonable rates is graft
Tying to the consumer, but it will infiict
great losses upon merchants, who day ,by
day, see the value of their stocks of goods
dec rease in market price. Those who deal
for cash see their fortunes shrink undeT
their eyes, and those who do credit bnsi.
NESS see their bills payable, maintaining
figures based on gold ut l72 against bills
receivable upon the basis of I49, and a
falling market
Low priced gold means low priced corn
and wheat, and a large reduction of the
railway traffic which now gives a transient
and delusive value to railway propertv
which a few months back was kept with
difficulty out of the hands of MORTGAGE
creditors. just now it seems as. firm rs
ever, and on the eve of another rise. such
as was seen in the latter part of 1s62.-,
ibis may be SO, but the careful observer.
does not fail to see that railway properly
IN 1868 does not stand in the position Il
held in March, 1862. 3iperr3i5s 81 &, 10
The most of the roads have, under the
enormous traffic of 1852 g4t rid of their
hontipg debt, and arc aeslinI the property
OF shareholders. Hut ths gtedt profits of
buyiup haVal beanDf ulAC n IA