The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1866-01-04

The Chicago Eresisy Josr~el Of the ID says:
business opens rather quiet after the holidays
but the demand for Money 10 aclive and in come
quarters quite prsssing; the supply, however, il
fair and the baaks in nearly al take care Of
their best customers. On the street Il il dicult to
negotiate any kiad Of paper, and the rates are
quoted 1t from , 70 - per cent. per month.
The Ciseiasaai Gssens Of the LIT hes the fellow
ing brief comnent on the ciosias year:
Eighteen hundred and sixty Eve l. no mors.
Saturday the last entries were made and the books
we're closed. The Asst hssissss Of The year
will be to ascertain The results II the cid These
have been in . measure foreshadowed- Good
business men are already Informed Is 10 their
profits losses, And the footngs Of tAe prsat aad
and loss account viii only show in exact Agsrss
what Is now known In round numbers. Prom
general observation II may be concluded that the
profits Of 1865, ~ compared with 1854, have been
small. But the gains have been larger than might
have been expected, when we consider the extra
ordinary events Of the year, and the sudden and
violent fluctuations in consequence Of the
full closing Of the war for the suppression Of the
rebellion. On the 3lst Of December 1864 the price
of gold vas 22T. On the seth of December 1865,
the quotation was l441 - difference Of ga.
Prices of commodities went up with gold, bat they
did not geaeraly 80 down in the sssae proportion,
Still there has been heavy fall in valves Bat not
withstanding the year has been wosdsvfslly free
fro1 financial Commercial disasters. Tie
strength which merchants had gained has bssa
sufficient to carry them through successfully, and
while the profits have not been - large ~ in the
previous year. they have been fair in the Aggre-
gate, and with comparatively few business men,
viii the balances Of profit and loss secount BE-
found on the wrong side Of the ledger In regard
to our city II may be said that the gain in
the line Of solid wealth within the last four years
has been heavy, and, ~ class, our merchants afe
sbundAntly able to weather any financial storm
likely to occur during the year upon which are
now entering. The lessons Of the past six months
have sabdued the speculative spirit that was 80
strong year ago, and extrsvagant expectations
have given place TO moderate desires. Caution,
therefore, which promises moderate gains, is pre-
ferred to inerdinate risks. This is apparent from
the present temper Of markets compared with
that which prevailed year ago. In view of the
imitation Of the currency and the measures 10 be
adopted looking in the direction Of specie basis,
the closing record Of 1866 will be considered salts
factory, If it shall prove ~ favorable - that which
marks the close Of 1865. The temper which now
governs trade promises such . result. People
recognise the departure of the days Of enormous
profits, and have adapted their mode Of business
and their expectations ~ regards profits to the
new order Of things, which is to be insugursted
by the adoption Of steady system Of contraction
and . consequent shrinkage Of values. This
adaptation II firmly adhered to will carry the
country safely through to specie basis
There was . continued good demand for money
on Saturday, and bankers found very full employ
ment for their means. Rates Of interest were 6rm
1T to Is per cent.-lo to Is being the range for
good names in the open market.