The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-09-12
European Money 3inrke,.

Anrhpsc of quarter per cent. in The price of
uiry, so common during tho last six mnmllls why
| business il dull. There i, n Widespread brii,.i
!na' ,: I,a: ,.,.: ~ anl s.l !.sprssc! pdt M s! I.
lhu,igh tho depression itself may ,r oxtiicabt,
from ordinary The tank rate oi dlsc0nni
is low. II han been lonc.. Hills are, inwc> cr.
discounted III wha, is called the open arht III rsCG
lcasrIlGs tlinn that charged by the bank Engand
The value Uf money The Stock Exchange lower
sill The rate paid Tor liz On short LOANS 'l"c+
| not exceed one per cent. per annnm Aud Vet II Ia
sail an uncNamplcd supply creates no dcl,IInd.
Let the rate OF iutcie3. hc reduced ever ~ law. M
| one is exritea to new ventures W L" increased
trade. The ordinary maNinls ur political r,rnniny
| appear 10 lail. There is II" movement IN the
! rOnlmcrcul wGTll. The sluSgiHhnrss ur tho mrr-
rRntile temper Iv.nriblc. The certainty III Il
| molo al,iudant harvest i'll AnerIca and the pros
pcrt 6i an ample harvest NJ home cs'rln,tai,c' :
| which ii r:.HiiiiUn times are powerful To n-
yi,c tlIr droopiu3 hlj;Iits of men nr baircss
are llis wear without iu;iu6cc. There ~ dead
| and ,an unhealthy calm.
The IiDsitiDn of tho money maIRc 10 uD'!c'ibtc-
IL sin:;ular if not uneXamplel. The bank raih AZ
! nj two lmr cent, anu as the bank holds nearly
tineen millions o money in hailti To meet current
liabilities amounting To little more tllan twrn y-
siX m.liion4 tho rate Dnght according To the ordi-
nary policy Of the GanB directors, to be still FUR
thcr lowered. Tho Bank ii InC!and IL, moreover,
Golfers an amount of coin aud bullion i,ltcGrthr,
| OH ni proportion to tho Necessity imposed
| on II, management hy the amonn, of ITS
| hahliii.- The Bank Of Frame has more
| than Ihriy-scsrE millions Of money in iaInl
! to meet current demaEGs of all kinds at less
thnn sMy-lwo millions, and The stock ol
| Ia increase. II hral sight il wonld be thonshi
That these ..ls must produce an instant anu de-
i-iyr rilrr IN tho trade nj the world. Here are
two important funds OF moLt, y! the hands "t the
two wrt Icinl"fs ur capital waiting, or ~ her scei-
ing. rnIpny,hcni. The management III eaGll Iasc
IL icarna oil setting free some OF its STOCK of cash.
and pruclrin,s IiS readiness TO accommodate lor-
4 rowars upon the mott moderate terms. Accord
ing Ia established theory tho temptation
shonll prove Irresistible. Tho men Of b,la;.
ness mhn arc looking ont for ,oprnr,nni.
lies, who nicely calculate the chances nf
prof. AID ,iako ;a difference "i 4 quarter per
| cent. the occasion of nnw enterprises onShi Ia
nLslt into speculation. Az matter " fact, they
| do not Why are they ho rrnssf We hcli.y" thu
| explanation Is not tnr to seek liurnt children
fear the lire, and iboy not uncunnlony have such
| wholesome rccocGii0na of recent suffering that
they shrink from anything thai looks even warm.
The pccuiiaiity or the present time IL !ha, money
il u. nnee cheap and dear We laYe two ;!li:gs
| comfort when tho banE Isli ia inw md tho banl
golfers are full, all kinds OF Investment SHOW
The nlnence Of The inct. doy"rnmGn, '"nds
commercial asBociations are higll IL th'
markci. II is not no now The Engl,7l
tn.t nas are re- eer ts er;c Of sonsos ~ be-
tween 81 and ", and rar9emberinS low man!
stocks bearing government gIardnfcn now com
pet with the funds rs mod" nl llDIEenehi IN
tcalmrn,, ihe price il extremely high fho lndil
secnrIIi:r III the same way, are enhanced III TN
estimation ri buyers. " is unnecessary o cn,lmcI
| hi. Inc dniails Of the nthar side of the picture
The iun,ls Of Gll governments WHICH lIIrc any ct
mcnt al doubt or insecurity attached 20 fhrin ar
wnpfn!iS depressed. The stnckB nt nli cGEHl
njrs nrc low in tito market. The inference
ubyions. Nloncy is .lr"p. hut il is mol cheap
all II IS cheap to some; le dear, or rather III
accessible t0 more. II ~ cheaper iDhard, 10 tlr
favored few because the rest are cnt oil fi';M th
supply. When it is sad, for instance, that III
i"wrr in the open market, it .cNnt that tho II
,irirted class whom tho bank directors feed, m
the trusted merchants Ihnm "ler bh'ks nnd .'i
dinroInt..Ts supply with money, ran have iii'.
: wan. anIJ,Iiu 1T these rates. fjn" mailf tlil
; ain Recommendations altogether chi! only u
known approximately 10 u lew, ami can tc hap"
| rNnrty hy none. .
, The clrrt Gf siclI phaa. Of Iilstriist M tii
through which the rOHncrcial world las ra-st
since Inst year is to slut out tho Speculative ma
altogether from tho possibility of htiioli, allI
make the rnnli0lls dealer moro ranfio'is alll.
Whole course or trade fliUwsa corresponding dIln
, untion in extent Stocks arc barely kclI up u
; produce oil manufacture ~ reduced na much {
pOssiuc: each anu all entlraynI 10 RESTRAIN me
| operations within known and easily r"nlr"llI
limits
There III 40 roconditc s,ci Of in the presrhl situI
lion OF coInmcrcu nnil tnance. There IL no sul
and immediate remedy which can he applied
cure its cvils. Tho root OF the nnttcr is porsona
and it is only 10y slow degrees tlIat TIC distrisi
possessors Of capital can bc nbatrI.
lIy and by, the full titlo of confidence will HOY
anil voices will hc fainiy raised to warn atlyrutu
, | nus capitalists against the certain issue of Il
y courses OH Which they fDniy rIriJark, UnlrSs y
=" ran change tho character Of human nniurc itnr
v | We must reconcile ourselves 10 thh IIireasnIlni
4 interchange Of blind trust and blind diHtIr Irst v
= must he content 10 know that tho Same pcrHnI
. | will tG-day reject and will tu-iMnrrnw accept
tlInsc who srck their rnnidenco; md That Gi, q
third day they will eSclam againat snme statute
some institution upon which, nIl1 not upon the
- own folly, they charge The consequences OF tho