The New York herald., 1864-10-08

The produce sympathized with the rise 10 gold
and prices we're higher, except for pork, which was
heavy and lower. Flour advanced 25c. per barrel,
wheat &c Sc per bushe So a4c The panic
In Chicago will howeve have the eject OF forcing quan.
titles OF bresdstus there into Eastern
markets before the close Of navigation The
banks and other lenders have assumed very
tive attitude by calling old aud refusing make
new ones They needed strengthening badly enough
the recent upon ALI and the failure Of OF
number has proved salutsry warning for present
at least The hoarders OF produce BY being forced 10
SELL will elsc the Western banks, and by making sup.
plies more abundant here the tendency Of prices Will bs
downwar other conditions being equal.
il remarkable TO observe the change that taken
place in the manner with which regard
rise or fall il the gold premium few months ago
rise regarded with nearly the apprehension
that Q fall IL now. Then men 10th TO sell their
goods lest they should have to replace them higher
ngures. Now they are anxious 10 sell item lest in
few weeks iheS 'sLould not be able to .ct as mach
for them; and they more wiling O. sell
at loss than tney before profit. Neither caru
nor cotton but gold is now king and Ike absolute but
capricious aoparch 1t rules the realm Of commerce. 50
far at least prices in lawful ncy concerned and
no man knows the worth Of hs property TIL he
consuts Its premum and calculates accordingly. The
whole people, 10 certain extent, made share in
this endless game Of speculation consequent the uc
tuaons In the value Of the currency. The wealth bs
great small OF every individual Ierpe.ualy rising
and falling In amount with the regularity OF the
tides but with the Of the restless
The prspondersnce Of speculation in cold s always in
favor OF rise In the midst OF long with del
ne prospeos of peace IN view and the necessity
Of counteractng Influence the part OF the govern.
meLt be found in curtaiug its currency ssuss and
developing its Coed fiscal Management is in
dispensaoie TO the conduct OF war extending
series o years, ii national bankruptcy Is TO be
avoided oar war has not lasted long enough
yet 10 p-sc,csliy illustrate the evils OF excessive issues
OF payer money. Had for vast resources
VI the country, however, the policy pursued by the Tea
suy would have produced . crisis IN financial affairs
before this but the nation strong and the people have
faith in iu being able to withstand and flourish
under what would be sufficient almost any other
In the world Our on the 3oth o, September
81 955 e737i6 only forty.nve millions less than
two thousand millions exclusive OF the debts or all the
States which have undergone large increase IN conse
quence OF bountes and other expenses Incidental the
And OF this large &6s7, ,oo6 s73 s the orm
OF currency. the government had early ia the
TO loans ai their market price, and efficient system
or taxation and import duties making only very limited
issues Of Treasury notes. the debt have been one
third less than for gold would hardly have rsen TO
premium OF more than thirty pcr Ard. in Ills
connection, we will quote the average market valao
OF gold 10 nk OF England during each year 4 ue
suspension Of specie payments from 1897 1871 oGe
par value OF gold per being E3 It's Cd together
with the circulation OF the bank BY the statement II
the latter v be that the circulation OF tho Bank
OF England notes more tban trehed tina
amount IN circulation at the time OF the SUSIE iou on
February 25, 1927, having been 6 64O $50 while the
highest point it ever reached WAS EFT s54 55s-