Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-09-11

1 GFOceries.-Sugar has ma eiiAly advanced. We now
QUOTE a, 81 2592 So per lb-hrm. We have heard Of
10 sale OF neasss at higher price than $40 per gall
The demand from the country will be lesieped TINS
ear In cons, quence Of TIE ineieaed production oil
| Sorghum mosss-s. C,ff'e is higher e quote Cuba
al 81 5O@5; Java IS 81 6G Rice is quiet at 2b@2Sc.
Sa 45c. Gsrdlrs IS for IalOW SO 40 for wax
Po,ugs We quote bal,d bay, Oa's and fodder $40
| per 100 pounds
RidsG-pry, 81 81; green 90; green salted, 95a$l.-
| Calf skins Sl5 each.
.Lea'Asr None in market, few small lots. Sole,
in second hands held al $3.50 per To- The Government
has im ressed all the sole leather. French calf
skins, S9Oo 81, 100 p zen, at auction.
| Ligao.s Corn whiskv, S2O,25 per gall. Rye do,
/ $2SAS5 Apple Brandy S25,S0. Rum, S2Oa25. Porto
Rics do, $S5A4O GIN $500.
ProUiuORS- IcOn is srriVi more freely, but H"R
Round is now selling al 50 20a2 25-fim. Lard sl.75
al SO 3 liter, $SaS % -demAhd active. Shad, 800
per bbL
Tobacco Unchanged The market is well supplied with
smoking and prices heretofore current barrel!
tanned.
The following is an extract from the letter
signed Lang on Gloves" ,eOSndy referred to in the
editorial c,lumnS OF this paper:
The real danger Of the country is not much from
the Confederate isues, the final struggle conflict
thst will between the Confederate currency and
the State lcsa currency furnished by the banks II
peace should be obtained upon the basis of ndepen-
Il
for q local bank currency, and many large capital
SIS will be interested BY purchases o. bonds and cred
It's that they will srer gthen the Confederate currency
even to tie overthrow Of all local bank currency Tie
first great demand Will be for Government EXeheQuer
Bank which ail submit 70 10 competition from all the
local banks. There all be strong State necessity to
submit it. in order TO prevent greater nat oral evil
Il (which would DO national bInkruptcyl the manage
urnt Of our vast BIT and Government credits eIcu
sivey by Secretary of the Treasury, which would be
too much power 70 place in the hands Of any nsn
as its rcs YOU'D deeply ailCe. the distribution Of
wealth 10 tie COBfeGerAoy generations to come. So,
a. . 10 ficAl 6nHncisl necessity, NSuOnal Bank in
sCma form viii come, aud when it comes it will crush
the State banks The history Of these matters Is too
recently written in the experience Of the old United
States sfer the var Of 1872 70 be entirely esehewed
The Government became straiIened fOT ready means,
and Was Induced TO borrow receive advances from
the banks and from time to tme, as the progress
| ed, Ih,ss advances became heavier and heavier
The Government no. dresm ng but its coming resOuI-
ces would be ample became Ible tc the banks for large
sums under bonds to be met by cash iu d. at maturity
But when Il oSe bonds came due, the Government i'll
stead Of Ieieeming them according to prom So had
90 in lrger and receive further advances. In the
meantms the banks had issued the faith u these
bonds aud promi. es o. the Government exec " If
they had been specie in vaul', and their cir uation
rested upsn this. The consequence was, that he
GoVernment failed to redeem their debt in ava liable
funds to the banks the banks themselves continued
uspeuded from ore necessity, and the Government
| ad not complied with its obligations TO the banks
felt il honor bound TO do something in turn to sustain
the banks. Toe Government, therefore, received all
public dues in bank paper notwithstanding its suspen
5 on and depreciation. The consequence Of this was
the banks that at lowest depreciation did all the
Government business far eceiV pg cues was c u
crnCd cause the deprecated the paper was the
cheaper taxes if received in such paper. The
rhec rhi' WSs that all importation began rapidly TO
cum .lia ore, because their bauk paper the
most par, the Government bad bOrrosed more
largely II them in proportion TO their capital than
any other banks. Tue result Of this that the Gov
eroment fast receiving in its dues all the most de-
prvciated bspk paper of the county, and could o.
get il of for what il owed and the whole system
producing the most corrupt and rluouI eOnse-
querces The Government then determined to right
ITSELF and Congress passed that famous resolution in
1878 tOrsceve nothing but gold aud silver in payment Of
public dues.
Tnis instantly crushed nearly all the tanks in tho
States and OF that state Of things sprang the old
United States Bank, and the GOvernm mt from 81
~ aud interest threw all its weight and power into tha
hands OF that bank against all Stat banks The crush
Na' almost universal If this from that com
plratiVely rihing war deb; Of $3.50 100000 in 1916
what must be the consequences from the debt OF
Oh revolution? No, if the Government sustains our
ndepe deIce and there can be no reasonable doubt of
al SUGGEST then the national debt and curreucy will
sustain iIsli and the danger is that it will crush the
local currency. The Government TO sustain its nation
al solvency and existence will lay its hands on The
greater Rt Of the cotton ard tobacco of the codnry
aud will be fer the lirges shippers Of produce fer he
first months after the war aud this will enable them
draw bills against that produce winch will be equiv
alent TO specie II they use this power with judgment
and discIetio this wi. enable them to command i'm.
meda,ely, at least one hundred and Fifty millions 0!
81 eel funds their equivalent, and also obtain
Oais 10 t1at amount in Europe at par, for then capital
isl prefer that TO shipment Of sp Gle against bills
that might be drawn on cotton and tobacco.
This SSOO000,OO0 Of Available re GU ces under Their
immediate control it properly managed would sustain
q credit circulation Of more than twice that amount,
particularly If Government bank secured monopoly
Of all the local circulation il would d. 10 all
calculations the final responsibility Of Government
credits, must consider have the production Of
a tcle that is nearer god ard silver adjustment Of
balances basis OF cirsuRt on, than any known
before To this extent differ in our GU hCm
any other revolutionary psOpe. TIE u innate value Of
cotton is in the foreign market aud the foreign market
has be measured by the gold and silver standard be-
eau.e they are the standards Of the world The home
market would give cotton bui little value for the great
demand is from abroad aud it has universally Of price
because it has unVersaity demand aud the difference
in s price is only tn difference TO cost Of shpmeD:
and transportation. Cotton now is worth tWentyour
pence in gland which is near forty two cents gold
and silver Standard and there other article in this
country bu. what is ss under the standard OF
the local currency.
New York letter dated I'd inst, says:
This has been an unusually active and exciting day
among the specializing and speculative gentry Of Wall
street In the ealy part Of the day got into the teaes
o. the floating population that hang about the
OF Hanover Al Exchange Place that the Euro
pran harVess proving superabuI mt that grau
dealers had received orders IRON he other side 10 stop
f T her shipments and that there TO possibility,
therefore, that should be called upon export much
more this season.
Fae ,ducuenfrom this as that the railways would
ex erence sudden IA ling OF ia business and that dy
| 4, nds for long time to would be like angels
vii lev and far between. The bulls hving succeed
ed imPressng thse views the weaker brethren,
Of there great rush SELL and such anxiety
20 realize that the prices Of most descriptions of fancy
stock experienced heavy decline 81 some who
vent dovn town this morning cOmparatiyely rich fon