Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-09-21
o Yroara The B6stOn oOnnetoIAl BallstIn.
Phs CommsreIal Situation.

The Comnorel1l Situation
There are certsinly strong indications
that SO far as concerns the commerce, it
not the politics of the country, We have
at length entered upon the beginning of
the end. The gold bubble, blown up SO
assiduously for speculative purposes, has
at last collapsed; and that eapricious and
arbitrary commodity, no longer needed for
export or exchange, is beginning to creep
out of its manifold hiding places, where
for the last three years it has kept COM
pany with the accumulated rust and dust
Of ages. During the last week it has been
poured upon the market in one continual
auriferoua stream by parties anxious to
realize. Hoardsrs are fast yielding 10 the
Impression that it has passed its grand
climacteric, and that it is nominally worth
more TO- day than it will ever bring again,
even il the war should linger through an
other weary year.
The truth is, the opinion Is gradually
gaining ground that the American people
ara not going to be, Tnined individually or
collectively by this EAri that We shall pass
through the trying erdeil without hAying
Luationai credit prostrated; thit the cur
reney rs not 80 .hOpelessly deptec iaieq If.
tar all; and that tWo greeHoack ooliers.
boaeht for one gold tone is in reality
profitable investment in veiW Of the ex
IRENE probability that the time is not far
distant when these two kinds Of currency
viii be convertible dollar for dollar, aud
when the former will purchase twice or
three times as much of any commodity or
property as it will just now.
Hence, the old order of things which pre-
vailed in business circles during the hrst
three years Of the rebellion when gold and
a = NJ .
mn and currency going down, is now be-
ing reversed Then nobody wanted mon,
ev or would keep it on hand longer than
| comuelled to, owing to it's depreciation; in
value: hut every body preferred its equiv
aleut in real or personal property, and
while rejecting loans except for q series OF
years. were anxious TO salt down their
surplus funds in stocks of merchandise,
gold, or any speculative investment which
Jnromised. large and immediate returns.
lNoW, with gold on The aoFnward range,
and prices preparing to follow, w,-money is
wanted instead of property; and those who
thAye ssuperabundAnce OF the latter
especially If it consists of merchandiEe,-
are extremely anxious to convert 1t into
current fpnds.'9rtss
But as popular confidence increases In
the soundness of the financial situation
land the recuperstiye energies of the coun-
Etrv. il ifmfnishes in an inverse ratio as
respects the commercial situation in con-
ueetiou with, present high prices. A change
of base in the operations of commerce now
seems inevitable and imminent; and, until
this change is Effected by coontermsrching
aud return to the starting point whence we
struck out at the commencement of the
war, trade must continue depressed and
restricted to the most pressing wants oi
consumption. 1t should be the sina Of po.
IlItical economists, so. far as they control
h the policy of government, TO let ne doWt
Il az gently as possible from the giddy and
dnnoerous height to which we have SCARED
on the Icarian wings Of the gold specula'
tiou; for If these waxen wings should bt
melted OF in onr Venturesome 1ignt by the
sun OF peace, so as to suddenly precipitAtt
M into y commercial Hellespont, WeBhoule
most assuredIy share the fate of our myth
illogical prototype. -- IL.
IlfyYt there is not so much danger Of thiI
u as might at frat thought be appreh ended
/ However abrupt the decline in gold, tbt
4 fall in general commercial values mus
!, be broken and graduated by one poten
agency. That Is, the limited production
land Increased consumption o, domesttS
!. manufactures, As regards these our Ell.
fsctiye industry has been 90 depleted and
! weakened Dy TUG t4IkSuCleS VI N14I 49,
!. the positive scarcity of supplies must in
MEASURE counteract the effect of any i'm
proyemeut in the currency. At any rate
. The price Of these must come down, If a
. ali, very gradually; and the htgh cost o
i stocks now on the market will induc
holders to stoutly resist any reduction, AMI
|, TO yield to the pressure Of the times incl
by inch. But as regards the products Q
the soil, which have been uuduly innatee
by speculation, with an abundant harIes
inst being secured, We see NO reason WI
these, ss well ss foreign goods, should NO
) respond promptly and fully to the deSlip
in specie value.
We heartily congratulate consumersitn
mass of the people, upon the Pfospec
whish is gradually opening up OF love
range Of prices for most of the necessarie
OF life. If appearances are not delasivs
and adverse fortune does not intervene t
change the current Of events an improVe
condition Of things is at hand whieh' vi
no far TO mitigate the evils OF war an
Tighten the burtheus of taxation. IN
Icondition Of things ON thel other hent
must be exceedingly hlfavorRble aud try
ing 70 the interest Of commerce for Will
So long az the present disturbing inAt
. ences continue to operate, and prices Al
lin 4 transition state, the markets must r.
i. mainlyery doll and trade virtually par
IyIed! U 10 view of these facts'our msrea'