Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1869-12-02

~ 116I6As1 g o. O 49, ~
"A sesa.aa tsai q xkanAas 4 20
Thsss ar syuresns a. :. AoGN fl
The speculation exseonss - = ?
monetary saAiss 5or ! ~ - = y
Financial affairs At ths prsssai 80 I
dnllasss sxossdiag anyaenDlslsu1n3 Z
long period. Spseulstios ~ -
become oautions and soaesssstipa -
he's bssa eoaAned within 1oesex1xa
In COLA the transaesioss - - b
! ere probably nse ovss t1nD9 1907 tks
former avsrsgs; in III Dtpok ~ 80 -
business has fallss to sheak @ene-hsn lol
that Of last year, and tho e,sssias hU4se
shows . dscrsiss ID bank sxokSagss Of ~
per cont This severe contxactjop Iol
basinsss nay b dns, ID part 70 a1rsEil-
sion following the panic oS SSptemb>r,
bat the moro liberal view 10 tAst II II
rather the expression Of reaction fron
speculative excesses which list, event
only aided 10 culninsts. The gauges
which for tho last few years have cncopr-
aged speculation arc now opsra1ing
within much narrower limits. Tha v,ei-
ations In tbs price of gold and the ffs-
qaent changes in the condition q the
currency during the war and Just alter IT.
close. produced aaotuations in values
calculated TO foster speculative opsratipss.
After this came the imitation known ~
watering" which induood ycry oxton-
siys speculation In stocks. Tho "wstpr-
Ing" mnnis. which has bosn extended 70
40 lnry. = class Of stocks seems 1t last 10
have exhausted its foros; the curssnoy
system IL assuming moro settled form
aud thu gold premium vibratss In . much
narrower range. Thus have the main In
dnos'nents to speculation been neutral
tied aud protrActed expeslsncs has
demonstrated to operators that the profits
upon speculation are not no much to b
sought after as was supposed. Those causes
seem 10 be tho undercurrent Of tho pre-
vailiug dullness in the money and stock
markets, and this lcthargy may be the
commencement of stesdisr and healthier
condition OF things. 1t has proved now,
az /, ever has in the past. unfortunate
that capital has forsaken, for time,
legitimate employmcnts, to profit upon
wide fluctuations in the markets, end IL
isa healthy and encouraging symptom
when it migrates back from hauuts Of
speculation to Industrial and commercial
enterprises, and for this reason tho pse-
v.iiing stagnancy at the financial centers
is indicative Of I'M improving condition
of the general business of the country.
There seems to be general feeling OF
as the banks wish to hold themselves pre-
pared for an active demand for money in
connection with produce movements. 1t
is no unusual thing for the discount mar
chants aud spectators are active Compel
ltors for loans The pressure at this time
my have a special cause in the fact that
collections at the West have been imped-
- through the inability Of the city banks
- supply small currency sufficient for
moving the grain crops, which has com
pellcd merchants to increase their creditsl
70 the West and grant extensive renewals
10 that section.
The general sentiment in financial cir
cles seems to be very conservative. Tho
reaction in speculation has produced .
generally oversold condition OF the mar
ket-. This tendency appears to have run
70 an extreme, aud 10 ~ be followed by o
70 ,vtion III another direction. There u
always liable to be suspense in all
branches of business just preceding the
meeting OF Congress, when the recon-
mend atoms Of the head Of the Treasury
Department., and the financial measures
introduced are expected to be unusually
important and calculated to influence the
course OF business, although as to their
nature aud general scope less is known in
advance of the assembling of Congress
than heretofore at this date.
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