Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-10-23
what to do with Money.
Frnm Harnar,s Weakly.

growing rich out OF the war. Certainly
the display of wealth and fashion in the
Central Park has never been equRled in
this country, and compares faVorably with
| similar scenes in tho London Parks and
the Champs Elysees of Paris. Houses have
risen enormously in price; FIRST class man
sions are not to be had; it is said there is
not single house in the Fifth Avenue for
sale or to let. Though prices OF all arti-
Giles of luxury have advanced from so 70
100 per cent. within two years, the con-
Esumption of them was never so active as il
4 is Ball, Black, 4 90. and Tiffany never
sold SO many diamonds aud so much rich
jewelFy as this season; Stewart never sold
SO many silk dresses aud laces; the great
4 carriage makers never built 90 many car.
| riages, or the great upholsters so much
expensive furniture. Evidences of increAs-
ing wealth and increasing extravaganee
meet even the most unobseFVing eye at
every turn; and it must be true, as the pa
pers say, that some people, at all events,
are growing rich out of theiwar.
Nor could 1t be otherwise. The Govern
ment of the United States has issued $780,
600, 900 of legal tender money, which is in
circulation, and is preparing to issue as
much more. The Banks have increased
their circulation likewise from $l35, ,OOO,-
900 to probably $l76, ,0O0, 900, and new
Banks are being authorized under Mr..
Chassis Act, which will probably issue
$40, 900, 600 more. This Is besides $780,
600 900 of three year United States notes,
bearing 7.20 interest; over S200, 900, 900 Of
per cent. certificates OF Indebtedness,
maturing at twelve months; nearly $780,.
000, 600 OF twenty year 6per cent. bonds;
about 800, 600, 900 OF and per cent
certificates of deposit; aud Abont S2T5, y
100000 of 6 per cent. bonds payable 10
tssahEy ysaFa.6 and redeemhh Ihtsi
latter class or securities but being cnrfsn.
icy, can not fairly come under the head of
paper money; though, as they are really
paper, deriving its value from the conf
dence reposed in It's maker, they are in
Q fleet an edition of Just so much as they
sell for to the apparent wealth OF the na.
ton, and contribute perhaps not less than
the actual legal tender notes to the pend
ing initiation, and to the general develop
ment of commerce, industry and prosperi-
ty.
This development has not been without
its drawback. Gold has risen to l56, and
may go still higher. It is probable that
the stock of gold in the country is being
diminished by export, and It is certain that
boarding has very largely diminished the
stock which is offered In market. Thus
the money which people make in these
days, under the influence Of copiOus issues
of paper, Is not the money they used to
make in the old times when gold was par,
but an inferior Article, now only worth 10
cents to the dollar IN gold, and possibly
destined to fall still lower. The memota-
BILE examples Of the French assignats aud
our own Continental money, which became
Valueless, and of the Confederate currency,
ofiwhich it now takes ten dollars to pnr-s
chase one gold dollar. ia. RiChmOnd, warn
us that this money which spectators are
now, coming so fast, and which is flowing
so freely into the Golfers of every merchant,
manufacturer, aud farmer, may, some time
or other, prove a very different article from
that which it 10 now presumed to be-
There are excellent reas0ns-Whieh have
been heretofore mentioned in this column
for believing that the fate which over
Whelmed the assignats aud the Continental
money win never overtake 0urlegal tenders.
Thus far, there 10 no more money afoat
than is reqired for the transaction of the
business Of the country and II the legal
tenders were called in, commerce wonld of
necessity be compelled 10 substitute in
their place some other kind Of paper where
with to make exchanges. But much
larger difference than now divides gold
from paper may fairly be teared-especialIy
L
pOipt of view, people who are making
money Ia these days are anxiously inq1ir-
ling what they shall do with it, IN order to
protect themselves against heavy depre-
citation hereafter.
For some time past there has been
throughout the country AZ active con-
sumption of railway stocks and bonds. II
jwas always possible, in the old times for.
a shrewd man to buy these securities so as
20 get 8 OF, 8 per cent on his Investment
Now 1t is hardly possible to buy any safe
railway property which viii yield over six
pei cent. on the investment, SO thoroughly
fhAs the market been swept Of the best class
lOf1bonds and stocks, and so enormous hes
been the amount of money seeking invest
ment. A man who invests money in q
good railway stock or bond, mnst be con,
tent with six per cent. interest, that iRtsTest
pgyGble IN paper money. The same remark
will apply to sound City, County and State
Bonds, = : .s
Real estate will yield still less, Iu the
large cities houses and lots have advanced
materially Of late, and speculation in land
has again broken out ct the West, ALLOW
lowing for the heavy amount of taxation
which this kind of properly wilt have to
bear hereafter, it is Questionable whether,
i6t the aYerageIreal estatea bo6Eht ut pres
ent will yield its loWuer net i've per cent,
lPeYabie n PePer money. -
There are those who put their money 10
& cold aud hoardik These persons are sure
Of not lnsipE al they have made II,
when they make $500. they buy $1,000 In
gold, they are sure Of having at last two.
Thirds oftheirmeans safe, in any event
Bat they are pretty sars Of losing the 9th