Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1864-04-28
FINANCIAL FLUCTUATIONS.

The Boston Daily Advertiser aludes to the fact
that the recent fluctuations in the credit Of our
currency, as measured by the standard of the price
of gold in that currency, moved between limits
greater than have been hitherto realized in the
financial history Of this country. 1t is common t.
ascrbe such result this to the operations of spe
culators. But to say that it is the spectators who
are thus bandying the credit of the nation in their
exciting game is our contemporary thinks, to take
very partial and inadequate view of the financial
situation. To this effect it says:
''In such extraordinary phenomena do not the
suits of speculation merely chiefly if by speculation
understand generally Understood, combined efforts to
depress the quotations to facilitate gambling bar
gains. The movements appear to to be Of far more
genuine sort They the natural indications Of state
OF eversh excitement not to say panic occaoned by
profound uncertainty to the immediate future, and
apprehension that may bring forth unfavorabe changes
We have these sudden jumps 10 the quotations Of gold be-
asking themselves whether it may not go
still higher than now and because there is the scramble
which such prospect must necessarily occasion have
the sudden falls because these movements made in appre
henson Of rise, overshoot themselves and followed
by the reaction; and have, taking week with
other toersbly steady gain the because
thing shows itself yet to diminish the doubt to what
is come, but the other hand, much to increase it,
We come back then TO the point which it has often
been necessary for to urge 1t for Congress and
Congress alone apply such frghtul disorders
those which rack the finances of the country. 1t
does not to look forward to victory, and hope
that that will bring happy relief like the relax alton Of
prices after the fall of Vicksburg last year The evil has
been left too long and too deeply seated to be efectua
wrought upon by any such palliative The greatest vic
tory which ha pointed out tho map, BY the most
confident strategst sitting in his library Office, would
still leave the great Of the present state Of affairs
actively at work; would leave still deficient in
aud still increasing already redundant and deprecated
currency 1t is to these that Congress must apply
itself while it is yet time, and with all the earnest
ness since it has long and mady neglected its duty
'If the Government is prepared to supply the whole
Giro uaton Of the country the State banks do less
than give way cheerfuly. But such is quite
irrelevant the present troubles Of the country Doubt
less the State banks contribute their modest share of
oyerssue of currency; doubtless speculation adds
thing to the ysgares of the gold market; but in either
to select that share alone at this crisis the subject
Of legislation, is like saying which one of half dozen
wounds all mortal, is the cause of mans death In
sufficient taIstion is Of chief and most urgent
evils and the of which the lies nearest at hand
Let Congress apply itself vigorously to this. Let it tar
heavily and eoursgeousy trusting something to the good
of the country which calls out daily for such action
let the country that present
ply the Of warfare and the promises Of the future
to be dealt 10 spsrngy aud gold will
its steadness at healthy point. simultaneously
with this let fixed limit be set to the circulation Of the
country not only to the demand issues but TO those of
mixed character which under thin disguise add to the
currency Let Congress at least determine upon de-
finite plan, which shall not only limit the kind bat the
amount of currency circulation With such action the
present dangerous tendency of affairs be checked and
they may be gradually restored to sound condition But
must not be much longer neglected If the duty is de-
clned by the national representatives, is long de-
ayed no tx limit TO the evils which threaten to
distress aud overwhelm this nation