Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-04-19
rks H1E6 Prices


seated Singular phenomenon. The gam
hleFB 81 .the gold market experienced = re-
EarkGbiy sudden trSuSiliou from the hot
70 the cold stages. In the early hours Of
the morning gold Was mounting in price
like usreurJ 10 = Thermometer when
brought near ere. Prom n hundred and
eighty il rushed up TO q h1ndred and eigh-
ty-nine. and afterwards. by some myEteri-
Qua influence, subsidized as suddenly TO Q
hundred Rod seVenIy-three. 1t is true the
news Of Mr.. ChRss's arrival ia the city had
in the meantime become geuerGlIy eireu-
lated, and that be vas seen 10 pass through
Wall street: but whether the gold speeuiA-
toe is so sensitive as 70 be 90 greatly de-
pressed by such Circumstances we DO not
undertake 70 Esy-
One cause, however, We believe, may be
assigned for this sudden depression OF the
nominal value Of gold. lis that the mis-
chief Of Hn inflated currency has been
msds 90 apparent by sudden rise of
prices TO alarm all right-thinkiEg and
sober minded men; Hnd has determined
them 70 do everything in their power to
apply a remedy. A conviction that this
is the case could hardly fail to cool the
fever OF speculation somewhat, and make
those who were engaged 10 thess ITsusac-
tiouB cautions lest they should be caught
by q decline In the market against which
they bad cot provided.
The attention Of Congress has been di-
reeted 70 this subject, and MIR. Sherman
has already brought IN bill TO prohibit
the gambling IN gold. We confess IhAI
We do not expect the result from tits which
many anticipate. We fear that the disease
which IL suppressed in one form will i'm
medidteiy break cut in another. Yet, As
many sensible men bold that the effect will
be 70 restrain . business which is carried
on 70 the Prejudies Of the public interest,
and ia part With the express design TO in
terfere with the Government 10 :ts endea-
Tors to put down the rebellion, let the bill
be passed. If il does not eject all that Is
expect from II, We cannot zee that il will
do any harm. Il leaves free the Gales OF
gold TOT fair business purposes. and only
| fasIenS its peuAllisB upon those Gales 90
| time, as they are calied-Ibpse contracts
for delivery At 1uture dAy-EhIch are
simply form Of gsublingr and one Of its
worst torJns
But there is another measure before
CougreSB IN the passing Of which TOO much
haste cannot be uEEd-lhe bill taxing the
circulation Of the State banks. 1t IS the
ProiuSeneES Of their issues, unreStrAinsd by
any necessity Ofpaymeut, which has Occa-
stoned this sudden ADD alarming rise of
prices. The Institutions chartered by the
safe governments are uDder no common
rEgulaIiOn, and have taken Advantage OF
the peculiar state OF the money market TO
oTerRhelm il with their notes issued to An
unprecedented amount, without the respou.
iibility OF providing for their payment. II
there ever was = fair case for taxation it
certainly appears to Us II Is this. We tax
incomes derived from honest End solid
capital; We tax incomes derived from as
Siduous labor; should We moi, therefore,
tax, aud tax largely, The profits derived
from so unsubstau and 5hGdoUJ 4 source
as the issue Of notes by institutions which
hAYe taken the liberty OF RbsOlVing them
selves from the necessity OF pAyIrg them T?
The justice CT the tax Cannot be disputed,
and It's wholesome effect IL cur6ing the
vast overflow of these uoIes, which baS
created 50 Duch alarm, viii coon be seen.
Another bill before Congress, which the
emergency Of the times makes important,
is that which AMENDS the SatiouaI Back
ing Law. The defects Of that Law are ad.
tniEicd. If We are 20 have sysrem, it
should be psTlec. Oo--proIidius = solid
basis Tor The credit Of those institutions,
aud rules which WillreStrAin the currency,
Of which they are the fountains, within
reasonable and safe limits.
Lastly, the duty Of Congress is 70 come
to the Immediate aid OF the war for the
uuIOn with . tax law 80 framed IS TO sup
! port the credit OF the country, plAcirg it
far above any possible doubt in the mind
of the most sensitive leader With such
Law, loans to any extent would be as FREELY
| given as they would be confidently asked,
aud the government might At its leisure
deal with the question of that iuh4tiou Of
the currency which has Gwakeued this
sudden siRrua. Congress, We hope, will
pause from the comparatively trivial dis
eussionA which have OF late occupied it, TO
give its attention to theEe important meas
urea.
We are glad TO know that the Secretary
Of the Treasury sees the importance Of an
early return to the good old way of paw
ing notes IN Gpeciei and has his plans, IL
be can bat be supported by Congress, of
eXtricating the country from the present
slough Of paper money. All will allow
that this would be a more effectual method
| Of putting AZ end TO the BpeeGIaIious in
gold than ever Nr. Shermau's proposed
penalties.
encouragement OF Immigration.
Dir. Rashburne, of Illinois, submitted on
Saturday last to Congress, from the Select
Committee on Immigration, a report and
bill, which were ordered to be printed
The following is a synopsis of the repor, i:
Referring to the recommendation of the
President on this subject 10 his annual
message, the committee say that the vas,
number OF laboripE meu, es MATED At near
y million and q quarter, who have gone
TO the war, have created a vacuum WHICH
lie severely felt in every part Of the coun-
try 10 the Industrial pursuits of farming.
mining. shipping, manufacturing, and In
| the cnnalrncfinn and rnnni. ~ -Nii-.-I