The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-08-17
Commercial and Financial.
The War and the Markets.

rr The War and the Markets.
From ne CiHelHHaa gazette. r... Tx.
The successive Prussian victories are
interpreted In financial circles TO mean an
early close Of the war, and consequently
there is q depression in the premium on
gold In this country, and an advance in
United States bonds In London 0nd Frank
fort, and on consols in London. The for
eign markets for breadstutEs arc also de-
pressed, wheat declining heavily in LON
don to-day The Prllsstans Are doubtless
paving dearly tOr their victories, as they
are the attacking party, and they RCknOwl'
edge heavy losses The question is, can
they afford 10 gain US many victories Ut
such cost, US France can afford to sutIcr
defeats! Whichever banner victory may
at length perch upon, one thing Is very
apparent, and that Is, that nearly all bust.
ness Is now carried on upon the hazard Of
war, than which there Is nothing more un.
certain, and people cannot be too cautious
in their operations.
From @c PHILADELPHIA Ledgtr.
The general disposition is 10 wait the
development ofapproAching events on the
war movements pending between France
and Prussia. The financial policy Of these
two grent nuiiOns attracts much attention
on this side Of the Atlantic, although, rs
yet, It has not materially affected us, and
In the opinion Of most sensible people,
never will. Tile pOli6ysOf Prussia was
announced some timo since in the shape
OF q 5 per cont loan at S9, which her pcO.
pic were asked to take and pay for It in
installments, running through five years.
This has, or will, no doubt, be done.
Frances policy was foreshadowed in the
actioN Npf the Corps LegislatiIf on Thursday
in Ing almost unanimously to raise
the ID In Of 500, ,000, 600 francs, previously
voted, to 900, 600, 900. francs; tomake the
bills Of the Bank Of Franco legal tenders,
and tO exempt the Bank from rclecming
them in gold or silver, but limiting the
ankcirculati0n to / ono, 100000 oftrancs,
of which 80O00OO0O francs are to he ap:
plicable to the use Of the Government, and
finally comforting similar privileges on the
Bank Of Algerid, whose papcr circulation
IS limited to 1S,OO0O00' francs. Thus
France, following in the footsteps of the
United States, starts the war on paper
basis This virtual suspension on tho
part of the Bank OF France may possibly
affect the internal trade Of France, but so
far as America or tho outside world is
concerned, its influence Is likely to be
slight, The cable announcement Of
this, news Is meagrc md indefinite,
and leaves some important points
in connection with tho suspension
in doubt The external exchanges Of
France will still have to be settled on o
gold basis, and most Of these Nre now set.
tied through London, as the war hns iso-
lated Paris. In this condition Of affairs
London, for the time being, Is, moro than
ever the financial centre Of tho world, and
large amounts of gold have lately been re-
mittcd there. The shipments from New
York on Saturday amounted 10 $2,101,-
1874 flct that probably has something
to do In stilIGning up. the gold premium
Further news from the. seat Of war is
watched intcntly, though without any
clearly defined notion Of the probable CT
fects Of any Of the many supposable con-
dition Of facts that may exist, But one
thing seems 10 be generally united upon,
and that is, that q short decisivew war is on
the side Of low gold in this market.