Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1866-01-26

The present dizziness in general business is
occasoned by the uncertainty which exists i'll
regard to the financial measures before Con-
gress. We do not for one moment admit that
there need be any uncertainty to affect general
business, the policy of the government having
been sufficiently indicated in various ways to
demolish any doubts that might have existed.
We have no doubt that the funding bill will be
passed. and that the Secretary will speedily
avail himself of the provisions thereof to i'm
,prove the value of the currency. If this is done
what will be the effect upon the business Of the
countryP Certain writer's are doing all they
can to show that contraction will cause a panic
and serious shock to all sorts of industrial
enterprises. They evidently hope 10 bring
about what they are SO ready 10 predict, or 10
make its advent so apparent beforehand as 10
deter the Secretary Of the Treasury from inter-
fering with the splendid programme of the
spectators. But they will fail. The panic
that is prepared for will Meier come and Mr.
McCuloch has shown himself to be too sound
a thinker upon financial matters to be sweryed
from the course which the highest wisdom and
expediency have plainly marked out for him to
follow. When financial matters shall have been
definitely settled upon sound basis, it is fair
to expect tina, business will promptly shape il
self accordingly, and that activity will be re-
sumed in all sorts of trade. There is no mac
| tivity in production now. Our manufactures
OF all sorts are employed, with remunerative
results which allow wide margin for future
| prices, and the reorganization of Southern in
| dustry for the production of The great staples
of that section is proceeding very rapidly since
the holidays. Activity of production implies
activity in the exchange of productions, accord
ing to the wants Of the people, and at prices
fixed by the law of supply and demand. The
signs of preparation for the spring trade are
seen on every hand. The stock OF cotton in
the country, which was much larger than the
earlier estimates will be coming forward until
into the summer the traffic of the West, which
I has been delayed more by spectators than by
the want of transit facilities, will open with un,
usual vgor in the spring; and the manufacture:
of New England will be wanted throughout the
great agricultural sections. There will be
enough business to do but prices must and o.
course will be recognized upon the financia
basis established by Congress. Contraction o.
the currency will not necessarily make strin-
| gent money markets but it will checkmate the
spectators and open the way for legitimate en-
terprises. Capitalists hesitate to use money
now in building factories, railroads, canals
opening mines, &c., when they expect that the
work can be done by-and by for two-thirds oil
one-half the money. Give them something
tangible to go by something solid to stand upon
and they will employ their funds quickly enough
The adoption of the funding bin will probabl,
carry gold down to Sl.25 or Sl.2O, and thu
same cause, together with increased production
will reduce the prices of goods say so per cent
When that is accomplished there will be nj
more holding back, and our real prosperity vii
begin. 1t cannot begin before. We canno
fail TO take cheerful view of the future upoi
these conditions, and they seem to us to be as
sured.- boston Herald.