Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-01-18
YEARLY ADVERTIs1Na
The Prospective Price of Gold.
Commercial AdvertiIer's Money Articlel

| NEw YORK, Jan. 16.-The prospective
price of gold is discussed freely in com.
mercisl circles; and very naturally, con-
| sidering that merchants are now sbont
fixing their prices for an immense amount
of merchandise provided for the Spring
business. In estimating the future value
OF gold, 1t is necessary to keep in mind the
two principal considerations by which it's
price is regulated, viz, the export demand
for specie and the fucEu stions in the val
ue OF the currency, or, in other words, of
the credit of the Government. Judging
from the present military aspect, the imme-
diste tendency of events must be toward
steadily improving the value of the curreu-
cy. The rebels have now, virtually, but
one army that can present any resistance to
our rapid occupation of their territory:
they are seriously divided among them
selves; and their ports must shortly fall
into our hands; and there is, apparently.
no remaining source for the recuperation
of their strength. So that, although it ia
| impossible to say what unexpected results
may come out ofthe uncertainties of war,
yet it appears quite reasonable to
expect with much confidence 8 sue.
cession Of important victories, each one
tending to further reduce the premium on
| gold. We have, however, unfortunately,
u
will not be checked by the adoption of
financial measures at Washington tending
to unsettle confidence and augment the
existing initiation. It is = poor symptom
that the first man to whom Congressmeu
have turned as a candidate for the Office of
| Secretary of Treasury, is Mr.. Stevens, of
Pennsylvania, a man whose policy reIa-
| tive to gold has tended more toward en-
HANGING its premium than any other cause.
The fact that such msR has been asked
to allow his name to be put in nomination,
shows that we may have the gold market
subjected to all those violent oscillations
which q rash aud wrong headed minister Of
finance can so easily produce. The good
prospect Of our generals doing much to-
ward reducing the premium on gold has
thus a heavy drawback in the possibility
of continued financial Encouragement.
The export movement of specie appears
| likely to favor reduction in prices. Those
| who have watched the effect upon the
gold market of large export of specie,
can appreciate the influence of that source
of demand upon the premium. During
the strong upward tendency of gold pre-
vailing for several weeks before the close
of the year, very large amounts of sterling
exchange were bought on speculation
| Several millions of dollars of such ibills
have been boarded 10 anticipation of a fur
ther rise in gold; aud, during the process,
gold las been sent out 10 pay our foreign
balance, when otherwise exchange would
have been used. a large amount yet re-
mains on hand here; and the steady fall
in gold and the prospect of important mill
| tsry success, not to say of peace even, Is
bringing it upon the market for sale. This
will tend to largely reduce the exports of
\ specie. At the game time, our imports
hove fallen to a very low point, being be-
low half what they were at the same period
of last year, while our expnrls are well
sustained Nor is it improbable that
the movements of the cotton captured
at Savannah may have an important effect
\ upon the foreign current of gold II 1t
be as reported that the Government has
secured 10000 bales, we shall have about
| SI2 600, 900 worth of cotton put upon the
market. Probably one half of this would
20 to Liverpool, suddenly increasing the
Indebtedness of England to the United
States Sc, ,O00,0 900 Nor is it improbable
that this amount may be early augmented
by the capture of cotton at Charleston or
Wilmington, aud by the planters forward
ling their stock to the newly captured ports
for sale. Combining these prospect, it
would appear in certain degree probable
/ that, at no very distant period, ve may
not only have the export of gold greatly
reduced, but may have considerable i'm.
lportatisn of specie; thus producing upon
the market a diminished demand and an
increased supply. Nor should it be over
looked that the extreme lightness of the
Imports of merchandise will reduce the
demand for gold for customs duties, to
about half the average amount of last
Thus everything iu the future Of those
conditions that Chiefly regulate the price
of gold, would seem to indicate continu-
ed decline 10 the premium, with the i'm :
nnrtant eIcention We have Indicated.