, 1870-08-18
M.NETARY AND COMMERCIAL,
MONETARY,
WEDSKsttiy ErEx1xc

SAuShsUAk EfkSlSGy aug, IL
notwithstanding .hat gold hurtua,es slight.
y On crer5 ruaor OF the va'yius fortuacs d.
the eotubatnnts in Europe, rising with the
suctcss OF the Trench. and falling with tl,at
OF tie 1TEssiau=, Ee believe tila Influences
that govcl:' the Price Of gold are now il, 10 %
measure iuueIe:l5e.t OF tue auccess of either
Of Inc afnies. Anything that offers a pros-
recs OF rea,e. u course, has 4 tendency to
caust declint in the price OF gold, Lu: the
ttohlMct OF peace does not necessarily Increase
villa isussiAn Victories, un}eso they Ahould be
~ II overwhelming victories AZ would place
tEctu in tho Possession OF Paris aid Tina
completely eonqner France. The Frsa.h viii
have srt:ierta their 2i>Stacr. aud car, 1u.So
feiins CT peace oa an equal footing c.th The
en- NY. and rot te us,iiSeI TO .ccpt the term,
NJ ceuqu, rot. Ihe opinion c1p.e.4ei hare
aweck $50 thst Frcncl. fu+:css was now NOR.
favesal'c tn neacc than that Of tho Prua.isns.
teteta'ed y the London Times, which
saEH: a French vietory il NECESSARY
IL prc.lispose the E-uperur Tie 3i,nts :a;sL:
E":c truly hare sam tbs lre:lch peo;,le to
i'act. 1he French are How lighting t,- r..
Ss'';;,e, ard Will tisssogasa tie Gus. III u,ouey
a'"4 1dcod, Willie the r!n,siaus are evs1v uar
s':NtE iuto posiiiors man .i.liralt 10 b.:
u: anita as thcs encIosct Oh French terri
tory, As FAR. thcis, IL this success Of eitae.
army taEors the prospect Of teacs murs tl;an
that Of the other, it is that OF the French.
Al tl!e LesinuiuI OF the war it was arrucd.
~st' some reason, that il tic Prusaia,ls vcrs
DELI atca, aud German capital disturbed by
uae ~ eecupation Of the German money markets
made, cithcF forced or voluntalv, to the Pru,-
s!a'' Government, our l,ontls would ba eent
1cE'c Tor .clc. sud the drain OF cold sen,
eacA lof them would cause all advance in il.
prce. Inc frusslan victories removed that
teai. i,;,: o9s row We hnd that the. war has s.,
eiH!s'sneN our export Of all aomrstsc rre.
duct~, except lreadstufIs, thar tie coid !,
s'e:' j. te:rs Grained cut .: the cou..,sy. on
A1;t Gst H. tho In asn1y held tl1s, DO of
Sei. Ot this aE,..rnt, 81. .9l3, 0,D va. t,ajd
aeaH'st gold certificates, in whir. amount il
i1r.Gd the nlost oi t!s -. CO., ,tOJ s.4uva to
s~ irl1 by the New lerk banks. AMI ;iiese IS
probably in al. the S:ates east Ut the N,sss-
sirE1 not over s1ao, co., co OF actual snli, ia-
cl!,"stig ttiat iu the Treasury. II we a ri
~. .tGU.0tl for what il in circulation on tue
tarlGc coast. VIC hare fetal of Sl70.0N. 600
81 all the gold in tie Gnitei States Now.
"hen il is remembered that ~. ).0J1 have
been c1rnsttl III tie last tirc weeks, IL Will
pc sre! that At this rate it is the possible pro-
onEaston OF the war that presents matter for |
lhs g,arcsi consideration. Should tho war
~ ak weeks, the stock OF cash gold in
ne market would TO exhausted; importers
Eouid have to depend on the sales OF sl,c /
Treasury. ana il il w4e app3rcut tA.t this |
.old v a leaving the country as rapidly as now,
would be Question whether the Trra-Qry
ot1id reduce It's stock Of gold unde. such cir
an.s' anecs Without affecting European CON
'dtrfe IN Cnise3 States bonds. II also, At !
nc:: 4 ti.::e ;hc :.oyczurnersts 4: En found IL |
strs=" ny to Int Lew tosns Of their osfu on
be market, as tlny probably would, it is not
thay woul1 resort to e3pedieu;s
II increasing snch t,str1et Of Am.r1cau
"udr. ia ories to draw capital out Of .Ams-i.
sn ccuEit:cs. ard get their own loans volun-
my s.kei- All these things will becone
sui y btiili=-, il tie war llsts slx weeks or two
.p1.t..-
III: :o1lssins is Il, cf.ic;slly-rcportea COZ
's'c' nj lie Eank CT Fr1ncc at the ucder-
Il |