The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-07-13
GheGnteLEiqenle!:r.
MArTERs in WALL STREET.
Present and Prospective influence Of
the War News.

Present and Prospective influence Of
the War News.
From Aoldays 2. ]. World.
Tho chief topic OF interest In financial
circles Is the question Of war or peace In
Europe and the probable results on Amer.
lean interests. Among the leading foreign
bankers the opinion prevails that no wal
will take place, but at the same time they
decline to draw for round amounts under
fun rates TO cover shipments Of specie
Bankers bills are In demand and com.
mand relatively higher prices than com
merclal bills. In the event Of war, the
difference would still be more in favor Of
prime bankers bills. The shipments Of
specie to cover them will BIO heavy. The
price of gold already indicates the upward
movement which will probably take place
at first in the event of war. European
investment funds, after the first outbreak
of hOstilities, and when tue money mar.
kets of Europe become settled, will find
their way very naturally into our govern
ment bonds, as the safest and best Insecurity
at q distance from tho seat Of war. The
investment Of European. capital In Amer
lean securities would be increased by the
disturbance Of the money markets In Eu-
rope consequent on war. The higher
price for gold would cause an advance In
currency quotations, more especially in
government bonds.
This week Congress will adjourn, and
the "bears" in the stock market have
come to the conclusion that after this
week prices will advance, and season Of
speculative excitement prevail.
From Mondays New YorE 7EnGS.
Tho Wall street markets, for some three
or four days past, arc feeling the influence
Of the war.cloud on the continent, though
without apparent dread Of the effect upon
this country, should the worst cOnsc-
GuGnces cnsuc to the hostile Powers on
the other side. How far this feeling
would be changed by actual, IN place OF
threatened, war, it Is difficult 10 say. But
our still lively recollection Of the disturb.
ances created here by the Crimean war Of
1854, the Italian war Of 1889, and the
Prussian war OF 1866, would incline US 10
doubt the hasty conclusion that our Coun-
try would be the gamer by the terrible
conflict by sea and land which would u.s.
suredIy follow. declaration Of war by
France against Prussia und Spain. Atall
events, the question is one that ought 10
be very graYcly considered by our bust
ness people. In all the three European
wars referred to, our finances and money
markets were the sufferers ut tue outset,
and there were no compromising gains To
compensate this arrangement by our sub.
sequcnt export trade with the belllgcr-
ents. The experience OF Great Britain in
regard To our own civil war was even
worse for her. Tho apparent profits Of
her neutrality, pending the struggle,
turned to bitter ashesaIle the close Of the
war, umd her trade hNs scarcely yet re-
covered from the effects Of the crisis o
1866. ............
The immediate expectation is that actual
war will lie avoided by the action OF the
Spanish Cabinet. In other words, the
Grown will he refused to the PruSsian
Prince, in Difference to the wishes, amount
ing to Il demand, Of France. But It seems
quite evident that the French Cabinet,
inspired by the Emperor, an0 the French
people are eager TO settle accounts with
Prussia, and II the present pretext bc not
directly availed oil, some other cause Of
quarrel will soon be found, perhaps one
growing out Of this very correspondence.
The price Of gold has not yet advanced
two per cent on the Continental trouble,
nor have our Public Funds declined,
either at home or abroad, more than 491
per cent In the presence OF actual war,
It is doubtful, with our present ample sup
ply Of gold, and tile condition OF our
foreign balances, (other than United States
stocks) whether gold would further
advance moro than three or five per cent.
1t certainly would not unless Our United
States 5.20s should hG returned upon us
much more rapidly than seems probable
in the existing small supplies in the hands
Of the bankers in Frankfort and London.
In this respect the case is entirely changed.
from tie situation IN May aud June, 1855,
when fifteen or twenty millions were
returned, because the bonds had accunlula-
ted IN Frankfort, and the market In Lon
don was In u money panic fur worse than
the war panic in Germany. At the same
time, there are other American interests
abroad that might bc Seriollsly compronliS-
cd or postponed by actual war, In which
our new Railway builders and ncgotiators
are concerned, and 1t may be the part Of
prudence to prepare for the disappoint-
ments which may ensue. 0F .yi"