The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-09-06
FINANCE AND TRADE.


The annexed manly, and to us most
touching letter, has just been received
with the enclosure noted, by one of our
city banks. We would rather be the
sinner, prompted by such motives to this
act of restitution, than the cautious,
cold-hearted man who never felt the
pressure of such temptatiop, or the
reckless disbeliever in G higher life who
would deride the sentiments here ex-
pressed as a cant or affectation. We
ought, perhaps, to add that it is q mis-
take to suppose that bank tellers, who
perform theiI responsible duties in the
midst of harassing cares and annoyan-
ces, are not willing to rectify mistakes
when properly brought to their notice,
even though the error be in their own
favor. We hope the publication OF the
following will move some other erring
wanderer to like action.
Some time ago was sent to your
bank to cash check. On counting the
money afterwards, l found fifty dollars
more than the amount specified in the
check. The temptation was too great
for me, and l retained that which my
conscience urged me to return, smother
ing my better feelings with something
had heard that banks never remedy
mistakes of that kind unless brought
Immediately to their notice. | enclose
Z $40 treasury note for fifty dollars,
which, with the premium and aecumu.
lated interest, will reimburse you and
relieve ME of q. great load from my
mind. 1t has taught Inc lesson which
shall never forget, and not for ten
| thousand times the amount would
place myselfin the same position again.
| thank God the amount was no larger,
and as | am now able to return it and
liquidate my debt to you, all that re-
mains is to make atonement to Him
whose mercy endureth forever"
leave this city tomorrow, with the
hopes eff bright future, here, and here
after.
The WOrld remarks as follows in rela-
tion to wood and coal: These two i'm
portant staples are just now suffering a
great depression in price, although they,
more than any other articles, have been
subjects of radical legislation for the
purpose of keeping up their prices.
This will illustrate how Ii tie practical
knowledge the radical leaders have
Whichever interest they touch, is at
once blighted. When the further pro-
lection of these articles was under dis
cussion in Congress, VIC showed that
what they wanted was not an increase
| in the tariff, but such contraction of
the currency as would remove the bur.
dens thereby imposed on the nlanufac-
turing interest, and wOuld diminish the
cost of living in the large towns, so that
people could have something left after
paying for food and rent. The
low price of coal does not slim
ulate manufactures, BECAUSE manufac-
tHrers still encounter many other bur-
deDs. The low price of wool and wooden
goods stimulates consumption but very
moderately, because the burdens of
| speculation, stimulated by Radical in
ilatIOn, still impOverish the great mid
dis classes. Wages are generally lower
and the cost of living quite as high as n
year ago; aud the farming interest can
not expect to take all mans money
for food and then sell him any great
quantity of wool at high prices. We
want, therefore, to improve the markets
for coal and wool, Il soundcr currency,
| lighter burdens upon trade and manu-
facture, and lower cost of living. But
these things we are not likely to again
enjoy until the Radical faction is driven
from power, and their impracticable
and corrupt legislation removed from
the statute book.
The English and French finances
present no change for the better. Leth-
argy and want of confidence still con-
time, and idle capital is steadily ac-
cumulating in both countries. There
is no disposition to invest funds in any
enterprise, save that which admits of q
sure and immediate realization. The
new Russian loan, recently introduced
into London. Paris and Amsterdam, has
proved an almost complete failure.
Even i'll our own bonds, the cheapness
of money has not started any specu-
lative movement. The quotation is no
higher than when the Bank of Eng
land rate was Sac per cent. This indi-
Gates that the great bulk of our securi-
tias held abroad are held as an invest
ment, and we do not believe that any
sudden revival in business on the other
side of the Atlantic Or even any Euro
pean political complication will result
in the return of our Five-Twenties for
realization. The latest mail advices
state that interest has fallen as low as
ore and Il half per cent. in London, and
in Paris the rates are still lower, with
no demand even at the lowest quota
tiOns. The Bank of France has the un
precedented sum of 900,0O0,OOO francs
| (Sl50, ,000) in its vaults, and the
Bank of England has Sll7, 456,565 in
gold locked up. The private banking
houses have also large accumulations
of capital on hand, and can hardly find
/