Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-03-22
THE FALL IN GOLD. eE
Prom the Philadelphia American.

Prom the Philadelphia American.
The fall in gold is 30 much the topic. Of
copversstiorYst.p .preseptTthat it is iplain the
Public mind has been stirred deeply. Six
months ego gold sold up to 25O. Yester-
day it sold down to l59, difference of 81.
1t is idle for any to shut his eyes to the
momentous consequences of such sfuctu-
ations, or to ignore their discussions With,
in a week, even, the fall has been unprece.
dented. During these six months the vol,
ume ofpaper money haspotheenI reduced,
and. hence those Who ID iFibu3sd the whole
rise to over issues of notes are now left IN
somewhat singular position. The increase
of national bank notes goes on steadily!
,theigreenbacks gremainy as they we're, the
interest bearing Treasury notes increase
heavily, and still the price of &oldis on
the downward track. si,,tig.s.a
TFHere8Rope phsuomeno6 (which noueht
not to escape notice at this time!i It is
that while gold has been so high, sterling
exchange, which used to be regarded as
| down to merely nominal rates OF premium,
and the last advices from EDRiand even
bring an intimation that there win proba.
bly, be, an expectation of gold hitheE from
Liverpool. 7I This arises ufrom various
causes. The importatiops of, ,foreign'Roods
into the United States fell off heavily du.
ring the last six months of 1854 and the
beginning of the present year. Prices
here had become,so. precaFioIs add uncer-
tain that the importers were mostly afraid
to carry large stocks of goods or risk buy-
ing at high prices. Then the exbortation
of petroleum was quite large, sndI thus the
balance of trade, grad6aIlFf began to turn
in our favor. To this must be sdded the
increasing demand for United States bonds
In EnEppe .theSqo quantities OF which carried
to foreign markets were so much towards
telie5lug 16e demand fot 9old I'd sterling
eEChGuge. rs s5t Z -I2S "
Ghess are causes which no combination
of speculators can Counteract, and we see
the result in5the prices Of gold asd ex-
chan ge,f To, this must be added the nbfffh.. bin.
terrupted successes of our military and na-
val operations, which have done so much
to exhaust the power OF the rebellion and
reduce the war within such limits that its
Termination seems within view, The prob
abilities OF peace growing stronger, the
I likelihood of 8 continued demand for loans
for government purposes dimi6ishes, add
the practical men of our financial circles
begin to calculate ahead, 30 as to be pre-
Epared for q retprRIto permanent CONNER
cial basis. Those who looked for grad
ual reduction Of the difference Between
1 greeubacksH and gold have cfouud them
selVesO mistekenSS because the merchants
.haye mostly been preparing for this tum-
BILE. Having bought and imported lightly
during the last nine months, their stooksot
goods cannot be heavy; and, although they
| may lose seriously on what thev have. they
win be the better ablo to resume purchases
on q permanent footing, with goods at low
rates and bare market before them. than
they would. be with prices going down
tgradually. 5ss=tE n -.
1 Al gradual and continued falilin prices
always opetatessih this wise those believ-
ing in a reaction bold on to their goods in
expectation of 9 rise, while those fearing d
neavy tallt as; well as all compelled by, the
need OF money, attempt to realize at once,
aud thus, an immense amount of goods
being thrown on The market{ithe fall is
accelerated ,h and others are thus compelled
or Induced to sell likewise. With a gradual
red1etioni the heavy operators lay dRl nc
stocks' for the plain reason that they can
form no estimates. With an extreme fall
ltn prices the strong men Confluence anew
at the low rates, and soon realize. hand
some'profts font the naturalf6aciion. al
the present time there Is &c 81 bssfs nf trade
Iupon which - merchant canHUeocded with
any safety, aud for that reaS6hws are in
clined to think that a prolonaafiSn 81 'fbiE
state Of lthinga would .woEkia & Complete
staguatio1 of trade, u 40
Ii As to the probability thai this will i6insrt
the government loans we do not believe it
Prices of these loans may fall. bnk as the
general eontrac iou Progresses; The EaInsYo
! goyernments loans must be .peTceived, aud
4 the losses IN fancy stocks will drive thoss.
swallowed uplso many niliionssof dollars
The crops this season viii be gnormou.
beyond all preegdeht, sad the surplus fol
export must even. exceed that 1862. Th,
doubled. So hereSwe b. we 4 mara;in which
muSteuable alto keep down sterling ex
change and keep the balance Of trade even
Adding to this the brilliant prospect of al
early peace, and it will be seen that Il
in gold. . y Z =, ,Ir5a-so -. -
! -