Evansville daily journal. (Evansville, Ind.) 1863-1866, 1864-07-18

RzMARKs--sinee oHr last remarks the tendency
Of the EeS York gold marScet has been downward
and eur Dispatches Saturday gave the elosing rAie
st7ks This dsclins Is eaHsed chiefly b. the strif-
Esscy 10 the money market To explain this
tigAtnsss in the n2asy market naay theories are
trossh, forward. and the question Is frequsEtIy
asked-Nh hat has bseoms Of the snrsTabnodasce 81
greenbseks7 moments reflections will, however
solve the question Large amounts Of grsspbacks
have bssn cancelled sr converted infs the psrman
snt debt Of the Government, aud are neE held in
the SsiioaaI Dsposltsliss The Government ha.
made no paymsnts OF any consequence for some
tins past, and the daily payments into its Tssas-
ary, from taxes ana other sources ef income. are
SAIL absorbing then rapidly, ana creating a scar
atty; and II Is also obvious that with ihs riss 10
prios ~ every description Of property, larger
amounts are required in payment therefor. Thus
every man must bare ,brss times mere monsyno
than was necessary for his business purposes BE-
fore the Of YER prices. Money l. thereby de-
eentralif' q, and whsa loans WAITED for spseu-
IAtlFs Or abnormal purposes, they cannot be ss-
tsined.
To further minimiss tbs currency may bripE
anaselal and eommsrriai disaster 10 maay Who
are nov seemingly prosperous. We DO not say
that Eueh disaster weal4 at all affect cur national
finances. but It II the individual who IL practising
hss sshsmss TO msks immense profits on a ANAL
capital that would suffer the naost. Finan-
slai or commercial panics ordinarily bring With
them mueh distress, evea to those not engaged 10
specaiatios, bat at Ike present tine much good
~ossd result from the explosion Of the speculative
bubble That bubb's Is beius punetsrsd, and the
results viii BE- seen ere long
AAA AgAlnt Mr.. FessendeH proposes TO b a Dor
rover IN open markss, to meet the currsst expsn-
sss sf the GovernneGi,--a course that will gain
u. eonhdssss and eo-opsrstlon Of the capitalists
Of the soantry, and II Successful there viii b. no
necessity for the Fs-issuing Of lsFgs amount Of
gTssnbaek., aud IN that event gola must rsesds To
reasonable priss and every other species of prop
srty wiii follow.
A forslga loAa also Is not imprsszbis. The de-
mAna for eur s-.a O = coupon behds, for foreign
seeeanf is aesivs At rates higher thaa can BE- OBJ
iain.d for tbs permanent bonds Of issl. This IL
indi alton that foreign capitalists have net lost
eonadsnoe in oar ability 10 suppress the rsbsilloa,
ner in ability and willingness to pay our hon
est ssbts. Il ls also an indication that fsrsign
losa esuld b readily negotiated; Aas THAT would
- the Effects Of saeh ioAs for, say sIeo 90 ooof
wouid gold, with sast amount shrswA upon The
market. 60 up or dswal saeh lean is net Inn
probable nor imprAetieabls. but likely 10 be se-
eozplish-d, aud than the pries o. all commodities
must accommodate itssh 10 tie condition o. the
msnsy market
Ths demand for money Is net 50 pressing a. for
soms Tina past This Is perhaps owing 10 the fac.
that the banks are not willing 70 increase their
diseount lines asd that bsrros consider Il use
less to sake application. The pay msnts for ,obEe
g are nearly ever. and the next In turn those
By the mIiisrs The new wheat wiil soou come 70
market. and the demand from milieEs will be iAFg-
sr than nsusl They are like NEST operators, IA
eiiasd TO buy heavy stock for probable advance.
They are not free IT m that spi IL Of speculation
which has all sisHg aeesllsrAtsd the inaasiOn Of
tbs babbls.
Exchange is not 80 sbundans, aud the supply Is
not equal to the demand. We msy isok for al
vancsd rates IN a few days. soms OF ths bankers
on Saturday refused to draw. IN anticipation Of
Adssnesd rates. We may quote IL at 40 dis
buying, and par selling.
The shipments ST gold to Earops have almost
ceased. Wednesdays steamer took out only
sst,00i.