Evansville daily journal. (Evansville, Ind.) 1863-1866, 1864-07-21
IsDlAxAPoIIs, July 10th, 1864

EDIToRs OF THE JOURNAL: In the re-
marks Of that 8 highly conservative and
sminsntly national frm, W. J. Lowry
& Co, recently published in your paper,
it was asserted that the late rapid sd-
vance of premium on gold was a felton,
resulting from no legitimate cause, bat
was produced By the joint action Of spec
ulatiye gold gamblers and those whose
every effort is diverted to q d;screditing
of the Government Indirectly, too,
every man specializing Ia the products
Of the country aud in manufactured
goods, was interested and aiding in some
degree to produce the same result. These
last having invested largely in various
ways at high prices, could only hope for
a profit by further advance in gold and
a consequent advance IN prices of prop
srty held By them. All these influences
combined. direct and indirect, could
hardly fail of success for time. 1t
remarked further, that = point would
soon be reached in the price of other
things which would not be carried fur
ther, let gold 60 where it might; that
large as was the volume of currency,
prices we're already nearly or quite up
to it, if not above il, and that when that
point was reached stringent money
market must ensue, not only bringing
prices to q stop, but causing 9 reaction
in them and prudent people were ad-
yised to keep in shape 70 escape the con-
sequences of such reaction.
We are now bsgizning TO realize the
truth OF these remarks. The tide kas
commenced to turn and, If no bones are
broken, there il at least danger that
many will be hurt. Some Of those who,
nisled by timid fears and the clamors Of
the Designing. haVs invested in property
of varions kinds for fear that greenbaeka
we're not safe, will come out wiser than
they were; while others who hare bor-
rowed money TO use in large PURCHASES,
at panic prices, will at least come short
ia their great expectations Of gain; il
no greater evil befall them. Some OF
the bubbles they have been blowing will
be vsry apt 10 explode, and sensible peo-
| pie will begin to learn that ell this rant
connsesing our own folly and isaiscrs-
tea vith the action Of the Government,
is the shesrest nonsense, and the rank
est humbug The Government must an.
swer for its own action and policy, bat
we have no right to saddle it with our
shortcomings, which have dose mach
more TO embarFass the GoEernment and
hinder its sascsss, than all other causes
combined, outside of the rebels in arms
against IT, This does not refer to our
oYertrsding and extraveganes ia every
way alone, bat to the persistent howl
against our currency, and the anceasiHg
abuse and Misrepresentation Of svery Ell.
fort pat forth BY the powers that be to
save ths country.
| Il is not improbable that prices viii
! spasmodieslly recover on some articles,
and on others for 9 time maintain their
present rates but unless there should
be further issue Of Treasury notes. We
may reasonably conclude that prices
have reached their highest point, and
i stAt EtAAHAtg ~ H1t faFtu8 uECtsut Viz
b established. Mr. Fessenden viii
make every effort 10 contract, rather
than expand the Government issues, and
| II he saceeeds in this, az there Is fail
ground for believing that he will, ",
shall soon have more settled markets
and the occupation will be gone o
those whose chief aim and labor i
10 to decry the Government credit
And as for the Borrowing gambler,
wha,her in gold or produce, the soonel
they are brought TO their knees. the bet
ter for every solid inierest Of the eoun
try. So long. as they can rule, 20 lon,
vii the price of all staples be ahovI
their value, and All legitimate business
be unsettled
The heat continues, snd no signs o
rain. Indianapolis s dullsr than usual
though still rather gay and festive.
Il has become quite eity, and Ia i'm
proving we'll and rapidly In the ma,
ter Of hotsls, however, | hear Of no i'm
provsmenL This does not give nj
much coacern, as an not dependsn
on them, having other and better seeom
mediation.
I hope to be at home in = few days
with prospect that / can stay awhile
which having been away somaeh of Late
is a satisfactory fact to
Yours, truly,
Now AND THgg