Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-04-16

PROM the Philadelphia American.
6oIa A. q stFSneyt, stock.

above the one hundred dollars OF United
States paper currency. and when the sales
closed, seventy seven dollars premium Was
bid and sSJ enIy. eight dollars asked. The
variation duriLg the Gay bad been ave
dollars between the maximum and mini-
imum price. The citizen Of inquiring
MUD will DO unable TO aSSign any reason
up Eve dollars per hundred in q single
day. Nor can he quote auy accepted Law
OF finance as the cause OF It's Increasing
from one hundred aud SeysnIy one dollars
and quarter per hundred, the highest
price for gold on Saturday last, 10 one
hundred and seVenty-nine dollars and q
quarter yesterday. When one comes to
consider the question according to5the
rules which govern finance and political
economy, he is struck With despair 10 con.
sequence Of the want Of q plausible the.
DRY to account for facts which are contrary
TO the usual experience OF cause aud effect.
We know that there are ingenious pro.
feSsors Of fnaace among us who will ex-
plain the whole mystery logically and
profoundly, according to their own belief
They will assure US that the United States
Government is issuing prOdigious quaint.
ties Of paper money daily, but they will
not be able 10 pEOdues the proof. They
wa AHAS NAAe N0duAAl 10
dv6Ied to Europe, that We are importing
TO an extent which drains us Of our gold.
Tits may be granted, but it will not ex.
plain, under any fair estimate that can be
made of our European Indebtedness, for an
ADVANCE Of eight per cent. in tue price OF
gold IN three days. Nothing has trans
Pired upon the days mentioned which Was
OF a character to excite tue gold market
by any natural stimulation. Nor can it be
asserted, with hope of belief, that the 40.
tuAl necessity for gold, 10 be used in pay:
meut of customs duties TO Government, or
for the purchase of legitimate bills of ex.
change upon Europe, is so great that, by
the competition among buyers, they run up
their bids against each other TO the high
point Indicated. The fact presents itself
to US plainly, that gold is fancy stock
fancy stock, bought and sold by those
who have no necessity for it accept as 4
means of hoFed-for gSiu; and, what is
worse, fancy stock which is neither
bought nor sold, which is wsgered for and
agnIust, uFou time contracts, wherein op.
orators who have no gold TO deliver under.
take to furnish it In large quantities to per.
cons who have not the paper money where
with to buy it. Tue sales OF gold which
ure reported daily are, to a great extent,
accounts of the state of the game at va
rious hours. The price seems TO 20 up
when the spirit Of "brsgr is strongest
With the gamesters; it goes down when
they temporarily lose their confidence.
lflhis were merely a matter Of interest
to tie players, il they gamblsd for beans
or bacon, il would be OF little Importance,
except to those persons who relied upon
those articles for food. WsJare told, 10
deed, By some Of our modern 6uaociers,
That gn1N n aFginla nj
erned by the laws Of demand aud supply,
and differing not actually as to the man
ner in which it 'is regulated from dry
goods and groceries. But gold coin fs
moCey, the medium OF iuterchauges all
over tue world, aud, therefore, the stand.
ard by which vast majority of the trans
actions between man and uNu are repu-
lated. Toe political economist may as
Gign it proper place In his theories OF
finance, but with mankind it ia e sensitive
article, the test of all values The mis-
chiefs which are being done by the wild
spirit of speculation which now RACES af-
fects every member Of the community.
Each effort TO force up the price Of gold
coin Affects other articles which ara
bought ADD sold. Men whose business il
is to sell their commodities take advantage
of every rise in tue gold market to increase
the prices of the articles which they have
for sale. There are establishments with
out humber Throughout: the United States
At which al early morning task Is the ma.
king up OF the prices or goods, to bring
them 10 supposed equality with tue ad-
vance of gold on the previous day. The,
holders OF those goods have not lost any
thing by the increase in the price of gold,
they may have bought their stock weeks
aud month: oeforei having gradually ad.
Vanced their prices until, when thay make
sales, their profits are tremendous The
old ideas that . certain percentage of gain
10 fair one for tair dealer do rot trouble
them. They have made gold their Their.
lnOmeter, and they desire to increase their
charges as the mercury goes up.
The consequences Of this gold gambling
are becoming so serious that they are
forcing themselves upon the public stteu-
ton with fearful pressure. The neces-
stries OF life are increasing in price so
rapidly, in sympathy with the movements
among tho gold speCu!ators, that what is
to become OF the poor and laboring cIasses
Is matter of serious concern, which may
lead to momentuous consequences, the eff
feet of which can scarcely be predicted. =
1t would be folly TO expect that any sentt.
ment OF regret will induce these frenzied
gameSIers to desist. 1t will be equally
fEuiIIess to hope that persons in business
will not avail themselves of any plausible
preIe1t to increase the prices of what they
sell. Congress-, 1t is suggested, cannot
reach this evil by any positive law
WHAT, thsn,seem to be the best reme-
dy which can be at present suggest
sdr Nothing bat strict economy will
effect reform until the problem of the war
is settled. 10 this view relrenchment be-
comes virtue, Frugality is patriotism
The extrayagancs Of fashion must be re.
strained. Rivalry 10 social lite must cease.
a suspension of The whims and follies
which cause expenditure OF money 10 hum
dreds Of instances, where lhereis no actual
necessity for them, would reduce the ex-
banding debt which will otherwise be con-