The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-05-02
FINANCIAL 6 COMMKRCIlL.
FINANCIAL.
MoRNINa LEApER oFF1oE.

MosDAY EvKEIss, May /, 1865.
The point OF MOTT inter St in financial Affairs at
present is the matter Ct reducing the expenditures
Of the National Government, the hrst steps in
viii h have already been taken, to be follow up
by Others steadily and vigorously. The cOnsumma-
ton Of peace, which may nov be considered accom-
Plishsd, has been for two ysa past looked 70 ward
to BY certain class Of wouId-be political &c no.
mists as catastrophe which was % bring in its
train such crushing ana orumbling of trade ar
fairs as was never before witnessed, and tho cop
perhead press, bsrat'ng Cbase's financial policy,
and continually scolding Fessenden, drew fsarfuI
pictures Of tbs universal rnin and suffering, beside
which the war itself blessing, that would
csed turn of tho nation to tranquility. This
however has all C ased. ard its advocates are now
among the most active in "bear" movements on
everything. The simple question to be dstsrmintd
to bs, what is to be the immed ate future Of
trade, and what the level of values upon which its
movements are to be conductsdl The answer to
thu r-t question solves the second. 20 far there
lore, busiteas is concerned, We think It tafs to
assume that peace viii not only be followed by 10
dIminu'ion of demand, but on the contrary that
= lOss experienced by the withdrawal Of q large
portion of the Government patronage will be made
new population, 80 to speak, in the sonth, as well
as by the increased consumption that will result
from return o, the army to peaceful pursuits-
1t Is only Necessary We think, to full de monstra-
tiou Of his fact that numerical relations should
be fully re estabi ID between the two sections,
which is ing gradually done to ev dent AdvAn.
tage. The question of values will then become
solely of demard and supply, and as the is
soF,
many neoessares there is an abso ute scarcity 1t is
easy to see that sh 7uId trade with the S, nth be
resumed within the current sea,on vaues Of lead
ing Articles Will not only not dsprecIats. but may
be reasonably expected to materially advance
Another 5nsidersiiOn n this connection, mors to
BE- apprehsnded PEI hsps than couTtsd, is the prob
ability of = strong speculative turn to ices as q
result partially from this trade snd in 3 mel
iure from the increasing amount Of unemployed
money which a C ssstion Of war expenses will IN
lock, ard which will be forced into u 1t nomioal
rates of interest. This latter condition Of things
Il b.ing sresdy seen to toms extent, and it's de-
velopuent Is slow from ths very fact that the trade
urdArie' have been 50 little extended since the
late speculative revuIsion.
Gold derEent a decided tumsls to-day, having
al one time dropped as low IS l4l11z, but subse-
qIeR'ly rallied and closed at 14L5. Railway
Stocks continue se'i euader the speculative move
ment and leading Rosdl sold largely to day at an
advance The general market is somewhat un.
steady, but prices arc VIII maintained. Govern
ments are streng.
Currency in this market continues abundant,
and business to-day was very quiet. Exchange Is
a shade ea'er in supply, bat rates continue to be
| q Otsd at Par buying md q ~ premium s-lling.