Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1865-04-26
WHEN THE WAR ENDS.
Peace Prices and Prospects-What will
Harpen, How twill Happen. and
What Will come Afterwards

TTho following article by Hon. Amasa
Walker is taken from Hrmts' Merchants
Naga;iae
That peace between the Federal Gov.
gnment and the Confederate States will
ume some time is certain, that it will
cone soon appears now highly probable,
sui the effect which such an event will
have upon the business of the country
:aunot but be matter of deep interest 10
H.
In the examination OF the subject we
must take certain things as granted, for in
10 other way can we mako any csleula.
lions whatever. We will first assume that
ihe terms Of peace include the perfect res
toraiion OF the nationality; and secondly,
that the great discordant element has
been removed, so that there is no antag-
onism between different sections of the
country growing out Of antagonistic insti-
iutions-that there is, in fact, that har-
nony of ideas and interest which alone
can give confidence and insure tranquil.
".
These two conditions teing established,
the country will hare peace, national
credit and universal confidence will be
: restored' As soon as this state of things
has arrived, as soon as it is certain that
the conflict has ended, the whole indus
Ey Oft nation will experience severe
shock. That is inevitable. The war par
Ilyzed industry, aud for while all was
slagnation. Peace will produce a similar
sfsct, because the industry of the coun-
ny must be changed from state of war
10 a stale Of peace. Those who have been
engaged in manufacturing the appliances
Of war and the instruments of human de-
,!ruction, must change their occupation.
Thousands and hundreds of thousands
must be transferred from ono branch OF
industry 10 another. ualf million of
men now in arms must return to their
homes and find employment in pepceatle
pursuits. All this cannot take place wI,l.
out temporary arrangement and conse-
9aent paralysis.
But the greatest shock will be felt upon
prices. Everybody knows that these are
At least double their usual average, and
must toa certainty, come down to the
natural standard that the currency, soon
gor later, will be restored to specie ba-
III. great panic, of course, will take
pllce on the anaoun cement ofpeace'-
Every man having property OF any klnd
which he desires to sell, will wish to be
hdorit as soon as possible. Ana' what
hvorse everybody VII, be afraid to pur-
chase, because they are sure pric-o inu''
90 down and down, until they reach
tAs lowest possible poirt. But the gem
nl consumption of the country must 60
90. Why should it not! Men and wo-
rsu will continue 70 eat, driuk, and wear
aud, what must DO borne in mind, they
6ve plenty of money, or rather OF cur
tsncy, TO buy with. What use can they
make of greenhacks and National and
State bank notes, OF which we have so ma
ly hundred millions, but for purchases ?
Then why should not the people purchase
freely! They will do SO, and of course
trade must and will 60 on.
The frst news Of peace will doubtless
cause great decline Of prices; most per-
IONS will be ready to sell on almost any
terms and at any sacrifice those who
have the courage to make purchases under
mch circumstances will do so to great adj
vantage, because prices cannot at once
permanently decline After the first
shock there Hlll be reaction, and prices
will advance again.
Three causes have co-operated in rails
ing prices the increasing volume OF cur
senoy, the depreciation of the national
credit, and the movements ofspeculators'
All these causes may cease with the return
of peace if our finances were managed on
sound principles; the currency will be re-
ducod, the national credit will be restor-
cd, and the speculators' occupation will
be gone But since this change cannot be
instantaneous, go far as redundant cur
fsnoy is concerned, the reaction we have
spoken Of will take place.
Prices ore governed by the existing
quantity Of currency, and, as that cannot
be at once greatly contracted, prices can
not Immediately return to their natural
point. To most persons prices seem tc
be merely accidental. That they are act
paliy governed by laws as discriminate al
Iho5e of gravitation few understand
Hence there will be great panic, ano
many will sell off their. stocks, as some die
under the sessless panic Of September last