Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1867-06-13
Condition or nsslacss Eater

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The New York Fynaneia' and Comn'er>
,;o, f-3zon.els does no. anticipate the recur-
renee Ct money panic similar to these OF
1857, ~ and 81. II alludes to the caution
which the merchants aro displaying, tie
respect Of ample crops, and states he
earnings II railroads as np evidence OF
iecen. improvement. in business. In answer +
Z, the inquiry whether money will be easy
for the few months whi:h must elspse be-
fore the usual activity sets N, IN the fall, it
remarks:
I'VE may lock first. n. the supply Of
floating capital sceking employment in the !
loan market. And no one can doubt who IS
convcrsan, with the facts that the accumu-
lsticn 10 unususily large. |, is true that
good deal a this capital 10 investing itself
in Government securities, and that from
" Is movement the proportion between the
floating and 6xed capital OF this country
has undergone some changes since the add
ton of two thousand millions OF United
States bonds to the mass Of pre- existing in
vestments for the savings Of the people
Bot. by singular and bentcent law, the
multiplication Of safe investments 10 any
rich, thriving country increases in rapidty
with which the capital II that country aug
m,na. Thus the reservoirs OF floating
/ capital are now fuller than formerly, be-
sides being more cspacious and moro rap>
idly supplied. Hence il happens that not>
~i,hstandng the prodiyious aggregate of
~ixed capital which has gone into Governs
ment bonds, the floating capital of the coun
try is "a large or larger than ever And not
only our banks, trust companies, ard other
leading Institutions have abuudan. means
to meet large demands for accommodation ;
but in consequence OF the obstruction oil the
outlets for employing capiial IN business,
. many Of our large merchants AMI importers
are large lenders Of surplus funds. so lar
then as the supply Of idle capital is con
cerned, we may expect an easy money
market.
Secondly, as 10 the abundance Of currency
there ~ never al this time OF the yoar diff
fculty, fos the flow Of gre nbAcks sets
! strongly towards this city, and the tendency
is for bank notes TO accumulate TO an ex'
tent, even beyond what is salutary for con.
venient. Ii is true that the movements o.
the currency may, during this summer
suffer . little disturbance from the heavJ
Q business Of the Treasury. Next month the
e income tax ~ payable, and. with the othe
!. internal taxes, will withdraw some $50. 900
900 out OF the channels of circulation. Blu
these payments will be widely distributed,
q and tho disbursements will be rapid on &C.
i count ofthe heavy amounts OF seven thirtie'
that are being purchased by abe Treasury
for cash, and Of tho compound notes, o
which eight millions mature in June, and
Q twelve millions In July, al Of which tn
n Secretary hss announced his willingn ness &
= pay oil on demand. From these and othe
!. causes the disbursements from the Treas
:. ury will probably equal tho receipts, no sc
u rious hindrance 10 business or perturbation
d Of the markets is to be apprehendsd iron
the looking up ofcurrency in the Treasury
Exempt. as we shall thus be, Ia. all prob
ability, from two Of the chief cause
= Of financial strengency - deiccn
9 cy Of valuable capital seeking invest
ments. and arrangement Of the currency b.
= the movements Of the Treasury-wc, ma
IS fail anticipate an easy money market eN
n cspt, indeed, the general confidence shout
d be impaired By further failures in the sout
:, or e.sewher.."
y rhe Outraecs I'm Tennessee.
" Even such paper as The New York Er
= nag ioa admits the truth Of the repor
"a tshIch unfortunately DO not tell hall Il
IN truth about the oulrages perpctra,cd
q, Ten cssec by Brownl VS. royruilons, az
Of mr. under pretence Il '.oyaltv." Til,
Il paper Is trying 10 show The bbcrs, ruff
:. ans and murier.rs what m injury they al
;,pt.t;nc IN thu ,,,un,,nst~ ,hav l;~a 10
z The same remarks apply to the Outrage
n committed by "Fleteher's militia" in Mis-
!, sou,i. The Fost says:
- The Union men Of Est Tennessee n
making serious mistake in gratifyin
~ their revengetul feelings they have eve
10 more interest in tho preservation Of law an
es order than their enemies and they will
p, the end he the heaviest losers by their ow
offenses. Their region needs larger POT
:" ulstion, more industrious and skiliful me
er and more capital, but they will get meth,
ne while the laws art violated they IS the
m seem TO be.
Moreover, all violence injurcs the violel
At last. 1t brings on reaction. from whic
rs they will suffer; it demo, alzes those vi
n act in il, II gives their country and theu
nj selves bad name. 1t binders their a,
-. vance in prosperity and wealth. Il perpt
yates strife aud hatred and family feuds-
% Let them take heed while II is yet tune
50 OF course. they viii reply chat thsy h,
n. suffered intolcrable wrong and ontrag
-, they viii probably add that the courts a
" not adequate to their ends of satls.actio
~ But we trust there are smong them serio
~ and thoughtful men of influence, who W
as use their influence to put stop TO lawle
al and vio,en, proceedings; and bring I
community back to order. The peacei
W and Industrious, and the weak, the poor, 4
IA. eomen aud children, suffer the most ire
IN. such condition of society as appears
~ exist in East Tennessee.