The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-10-17

reprobates the policy of Mr.. McCulloch
so far as it looks TO speedy and large
reduction OF the public debt. 1t says:
Mr.. McCulIoch takes great pride in
showing that in the two years since the
war he has reduced the debt I'VE nun
dred millions. But how has he done
it? Simply by grinding to death the
industry aud labor OF the country py a
taxation almost uncomfortable. Oicourse
we speak OF the system, not the man.
How much better wiser and easier p
ON the people would it have been 10 pay
the interest upon that amount, leaving
the principal for a more quiet and
PROSPEROUS future to take care of. This
hot bed forcing Of financial results can
only end in an financial collapse for
il is impossible that the country can
stand it for any length of time. With
home industry at stand still, and AS
consequence a falling of of duties on
imports, where is he 10 get his revenue
from? What is the debt of the country?
The answer comes glibly enough, TWO
thousand, five hundred millions. To
say 50, We answer, is lie and cheat
for there is not State, town, VII
lage or q hamlet in the Union, that is
not ground down with debt ofits own.
Add this to that, and see where you
will be. We would fear to name even
an approximate amount, or even TO
guess at it And the reason we mem
lion it all is not to exhibit any mis-
gIyings ID our ability to comply with
our contracts, whether State or ma
tioual, or our duty and willingness to
do so, but merely advocate plan equal
Iy sure, but slower, which, while strict
" Just to the public creditor, is more
generous and forbearing towards the
debtor. None but fool would kill the
goose which lays the golden egg.
In regard to the look ofthings from
Boston poin OF view, the Advertiser, of
that city, says:
The decline in cotton, which has
fallen about cents per pound since
last June, has exerted very depress-
ing influence on the trade in domestics.
New York papers report that the trade
there "drAgs heavily, and If there were
no prospect of anything better, every
body would be sorely discouraged. For
the first time this year the holders OF
domestics have tried the auction room,
and considering the character OF the Of
ferings, the sales have done better than
could have been expected. The owners
have been waiting for brisk demand
in the hope of floating their heavy VEN
lures in the general current of activity:
but there cannot be good time 10 sell
goods which never should have been
made" The Reorganization at the
South has checked the Southern trade,
which is still further affected by the
general prevalence of sickness, and the
trade of theyAvhole country languishes
under a chronic feeling of uneHsiuess,
and lack of confidence, which at
present there appears to be nothing
powerful enough to eradicate.
During the past week trade in this
city has shown no important change,
the market for all kinds of merchandise
remaining without Improvement In
dry goods, low prices and Jan unsettled
market is the rule, although some OF
the jobbing houses report fair bust
ness. Cotton is lower, and wool with
out Improvement. Produce, however,
is tirm, and prices are tending upward.
The price of flour wonderfully sustains
itself under heavy receipts, and corn,
under the influence of short crop, has
materially advanced. A growing de-
mand for breadstuffs from Europe has
an important influence upon prices.
The market tor boots and shoes has
been rather dull, the demand being only
moderate, but some revival is expected
when the cool weather sets in. Sugars
are firm, but not active. Calcutta goods
remain without improvement.
The Newburyport (Mass.) Herald
says the manufacturing corporations in
New England Tor the making of cotton
and woollen goods are now doing bad
ly. Only those with the most approved
machinery, or at work on fancy goods,
are paying their way. Wool is now
lower, paid in gold, than before the
war; and cotton is constantly declin-
ing, the depreciation falling upon the
manufacturers in the decline of goods
and the great dullness OF the markets.
Il is doubtful if any of the companies
in Newburyport will declare Il divivend
this wear