The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-05-25
COMMERCIAL shNDs FINANCIAL.
THgquutatioiiis fronI trIa,yfyorlE, AZ

4HEquQtAti ons from New York this
morning show a decreased financial
feeling yyi,bo,,t
assigned. TIN rra,,S,,.I1 IN Ss'Ai7e
- ~. SeHsE 7l. tendency now
eEeE' mas oeen IN that director for seTg
eral days: The Cincinnati Gaseite does
not believe that the ptess,esnftts 6ti%65in,
], = 90 pau ~ appearances
would seem to indicate. 1t discounts
much of the current talk about4 ,the
immensIty of a commercia1 ii IA d;
oioI rornision ~
1AaA i0'u'stN"' e-4uOte from It's re-
marks on the subject as follows: -
Notwithstanding the zrumors-that
have been circulated from time to lime
the staRnation in business: the scarcItv
of money, and the general distrust pre-.
ya:ling, the failures. in number and
importanee, are far below the average
of the ten years, preceding 1851 and
business men. at this time, are in, better
shape to weather a-storm than thew
have been for two wears past, snFOr a
foll year merchants have been con-
tracing their business and putting up
their affairs into manageable shape.
They have been anticipating juStpsuch
state of things as is being experience
ed :, They have, In fact, been autiripa!
ting a much worse state OF things. and
preparing GacoordinglF. The result is
small stocks and contraction of cred
its. j. Consumers, too. have been hns-
banding their resources wearing old
clothes, staying at home instead II
travelling, and cutting down expenses
in every way possible. Specnfation.
also, has been checked. Tine whole
aim, in a word, has been To take "a "a III
possessions rather than to increase
them-to hold on rather than to make
Roadway. As a result there mas 'been a
good deal of money LOST. and5ilitfIe
mHde;=hut- there -is:nO evidence If az
tensiVe insolvency. Within the last
1--WE years our. business men made a
great deal of money, and thew have
Consequently been in condition to lose
largely without lelding to Insolvency.
1t Is also to be remarked that our
business men arenat this time, lend
eFS Of money, to a large extent I'm tho
aggregate IAN Immense amount of
surplus capital has within three months
.been,put into Government ecnFitips. to
TO betheld in that shane. mntii bnsinesS
revives and Ia nlSIThii N an !, q - ~
be chnsidSred 4 "a fe ,ISasjs mt 80 TsoS
q scarcity of currenav hare ~ q
time, and it also acconDts for 4 he Snr rs.io
abundance of capital in the IEasisrn
cities: but when bnsiness rev; - = S.t
Is 10 say; when the growing erops 'a aEs
harvested and begin to move, tile tide
will turn, and the bonds now bsI6 - +
the West will be sent East "a y ISe az .
changed for currency.f The latter viii
bedistribnted through the country. al st
in payment for WOO. ana snexk f6r
wheat, and SO on: Then, .thp Ncon,,trI,
try. will begin to discharge its ind ebted.
ness, and buy goods. and monev
which is now stagnant win pet
suit is, of course, predicted up0n
good crops; but There ii now ,6aTI.
ly doubt as to what we shall realize
In thisline, especially IA regards wbaafS
1t is not worth while, therefore, for ptlo,
pleto waste their time at present pre-
dieting general crash, or q contfnTl
9nce Of stagnation ia tfade- A crash
has never followed a wear al preDara.
tlon for such an event; and there is
hardly prudent merchant or a manu-
faCturer, ora banker in Cincinnati that
has not, for a full year, been putting
hishousein order. This is not the waV
to get up attnanciRlrevulsion; built is
the way tn preventft. Crashes usualiv
come like a clap of thunder in a 6Iear
sky. They never have come when peO-
pie looked and prepared for themlfor
full year. I93lIf hW
AT the bottom Of the troubles that are
now being experienced lie the crop fail.
ures of 1866 and 1865. But for these we
should haveastats OF trade very differ
ent from that which prevails: but we
would not be as we'll prepared for a
storm as we are now. The cODntry, WA
going ahead too fast. Man had becoIne