Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-04-13
FINANCIAL AND COMMERCIAL.
Orvlcr c. ,HE waio, April H. 1864
The fa;Iora &c tha .oo.,,t n fka cttf :

.
OryicE 1HE WHO, April ~. 1861
The failure of the recent change in the cuf-
rency to eff Ct any sdrctoniu the prices povscnss
and other articles has caosed iile dirappoiu ment
among those VII beiieyej, or al least, hoped that
decline would commence mmsda slx after the 4taf
April. Our own opinion, seyer1 tmes exrfSe!g{ IN :
this columu is that any ds,iue IN prices uf be Pre-
oeded by an increase Of the supplies OF provisions at
the centres of trade As OILY tsslys days bsve sApssd
srce the LIST of April, ana the ieceipts from lie IL
terror have not materially increased IL 10 tco eosn to
lock for that contraction OF prices which viii ultiu slty
result from the contraction Of the currency. The heat
laid clans are often thwrted BY unforeseen contingent
ces and It Il now certain that the beneficial sects &c.
signed to be produced BY the 'Carrency Ao.' will be-
delayed by o combination of adverse circumstances
The first Of these is the protrscted spell Of rainy
weather. and the f,ocs oil the country rendering
the roads and streams impossible and absolutely pre-
venting hundreds OF farmers from sending anything 70
market The navigation of the canals and rivera kas been
interrupted b. the gh water, and such supplies might
have been forwarded by the saer lnes have been kept
back. Moreover, tbs railroads have been 60 cccup cd
with the transportation oil Government reght that phi.
freight except in very limited qua, tits could not
be sent forward. In view all OF these adverse circu-
stances the wonder is that tho markets have been 50
well supplied aud that prices instead of recedrg have
advanced Whilst the market is comparatively bare
Of stocks sellers have the power to demand any prices
they choose and, unfortunately the most avaricous
among them control or regulate the prices.
The rains and foods have not only prevented, 10
great extent the transportation Of produce to Market
but together wi h the arbitrary action OF Goyerument
officials, have interrupted the sIring fisheries which
would have furnished large quantities Of iresh Fab and
thereby increased the quntty Of food for SALE These
and other drawbacks could la been foreseeB and
sufficiently explain the continue prevalence OF high
pr Cos.
But there Is still another obstacle t. aoy decline In
prcs caused by the large circulation of fves and their
rejection by the bsnk,. The refusal OF the banks 70
receive them keep. on especial deposit" Influences
sellers to adhere old prices (and get as much more
buyers will psy) in order that they may not lose
the smoun Of the tax upon the fyes, which may rs.
naio upon their hands the LIT Of July Several of
the leading commission houses will only receive the
ne@ currency aud thus by these various fuences the
6ses are difcedted, and the currency is kept ia q
state Of arrangement and ImpextJ which impars its
circulation and contributes 10 maintaining the high
premium for gold. Until gold down. other prices
VIII not materially receis, and We are too the
opening of the "sprrg campaign" for any apprecabe
decline ia h, precious metals. At crifs like this
holders will not be inclined to part with their CON- but
Geo. Lee defeat and dspsrse the forces Of Grant,
and the price of gold will fall bringing down the prices
OF all other articles.
The first session of The Second Congress commences
ON the "a psoxmo (tpsnty days from this time and
it may do much toward repairing the defects Ct the
Currency Act" an increasing popular confidence in
the Confederate 'promises to pay" We trust that II
will promptly anrul the prospective tax of sst per
cent ufon the IS notes Issued sine, April, 1863 and
define more clearly the authority to issue new Totes
conferred upon the Secretary Of the Treasury.
Thirty days is not org tine to wait. Before the
expiration Of that period weather may become pro.
ptsus the receipts of food may largely increase the
dyes may be at par with the currency by virtue Of
Congressional enactment and Gan. may be driven
Of Virginia by the victorious Army Of Northern Vir
gnia Their, it not now, the lorg deferred hope OF
cheaper suossteI &c, and bountiiu supplies may
be realized. Let US be patient.