Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-03-23

has been witnessed during the last four
years.
The Return OPeaee-DeclInsIn Gold
-PFOSpectS OF BusInesS-VaIues and
Prices Now and Hereafter.
From the New York Circular of Messrs. Jerome,
Riggs Go,
The most marked feature of the week
has been the fall in gold, which has de-
cliuet since our last issue from 1914 to
1904; the minimum of yesterday, recovered
to 1914 at the slose.
This rapid decline has been mainly
caused by the progress of the national
arms. 1t ia believed that military resist
auce to the government will soon be at an
end, and our people, with their accustorn-
ed hexibiliry and forecast, are now as busy
upon schemes of peace as they were q
short time ago engrossed in those of war.
They feel assured of the political integrity
Of the country, and of the speedy restora-
ton OF internal order, and that not doubt
is to be entertained of the maintenance of
the public faith. Hence the decline in
gold, which is but another name for the
appreciation of the national credit. Its
fall is vast stride toward return of all
our interests to a normal condition. Prices
of labor and merchandise will follow fast
in lite train.
We are now reversing the steps which
led to the initiation, and are about to enter
upon an experience which is to try the
strength and fortitude of the country far
more severely than the burdens of war.
An initiation of the currency ia, in it's pro.
cess, one of the most popular measures
that can be possibly devised. 1t supplies
the instrument, without adding to the
means of expenditure. An increased re-
muneraiion and price is given for every
kind Of service and property. Every one
fancies he is getting rich, without the ed
dition of penny to the aggregate wealth.
Extravaganza is stimulated, and almost
every branch of industry ipjuriously af-
feCted to such degree that bankruptcy
either ensues, or long period of depres.
sion and of commercial disasters has to- be
gone through before nation can get back
to its old ground of economy, thrift and
prosperity. The return to sound state of
things, under such circumstances, is al.
ways most difficult. The currency Issued
by the Continental Congress was funded
at one hundred for one. The aesignats
issued 10 the French Revolution did not
fare even as we'll as this, while twenty
three years Of peace were required to en-.
able the Bank of England to resume specie
payments, with a circulation at no time
exceeding $40, 100000, no small portion of
which was issued upon disoounting bust.
ness paper. sa....g.
The progress which this country is to
make in returning to specie payments,
which is but another name for it's material
prosperity, is to be probably the most To-
terestiug part of the great drama now be-
ing enacted War so stimulates the ener-
gies of nation that its effects are often
the most severely felt only upon the return
of peace. Such We have right to expect
will be our experience, though we think in
Il much less degree than that felt by other
nations. The war, with all the vast tx
penditures involved, has not been an ex-
haustive one to the North. So far there has
been but very little diminution from the
comforts usualIy enjoyed by all classes in a
| period peace. The productive capacity
of the nation, in ratio to its population, was
never before 30 great, consequently there
was never greater supply of what is
necessary to sustain life; and although
prices have been high, the means of p1r.
chasing have been cOrrespondingly album
daut:
While peace will remove powerful slim
ulants to national activity, it will supply
others still more powerful and effective
.
prise will be vastly enlarged. The mar
velous strength put forth by each section
resulted from the fact that every citizen
became an ardent party to the combat. En-
tire freedom ct action, with an almost in
finite number of objects upon which it can
be expended, has given to our people an
individuality and intelligence possessed BY
no other. Hence the wonderful rapiditv
with which pioneers, with hardly any
means but their own hands have impro.
Vised new States, which in a few short
years reached almost colossal proportions.
as in the case with California, with all the
condition of an advanced civilization
Every one feels the stimulus aud possesses
the opportunity for action. So vast and
varied are our resources that every person
has boundIess field according to his ia
Guilty. In the loyal territories the discove
ries OF mineral wealth within the past four
years have exceeded all former precedent.
The precious metals have been found album
dainty distributed over an area MANY
hundred thousands of square miles,
Within it millions, where there is now
hardly al inhabitaut, will find most remu.
nerating employment. The attraction to
the gold. bearing districts of the country
will for long time to come constantly be-.
come greater aud greater. The development
of other mineral wealth has been on an
almost equal scale, so that if We had even
five times our present population, the dis.
proportion between labor aud the opportu
mites for it's exercise will be felt to be
greater than it is at the present time.
But new field which was really hardly
touched before the war, will be the Soutb.
eru States. This will be broad enough to
absorb for years all our surplus population
and capital, were there no other outlets for
them. Within year cotton will become
one Of our staples. With the increased
capital and labor that can be Immediately
brought into its culture, the amount pros
duced will, in the course of a very'f few
years, far exceed that OF any previous peri.
cd. Civil war has not destroyed the labor
at the South. This, for the future. will
work an appliance and aid that will ada
vastly to It's efficiency. As soon as order
Is restored, We expect for time to see An
Immigration fFnHn tha