The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-02-02
TIE MONEY MARKET.
What is the Financial Future i.

TFrou, the New York Herald, of Monday.l
The gold market was again very steady, the
highest price having been ll0l, and the lowest
llGS. In TACT, on one day the quotation re-
mained unaltered throughout the dealings In
the Gold Room, so stagnant was the us'ness
of the market. This paralysis OF the premium
is due to the introduction into the gold pro-
blem of several unknown quantities, or
rather quantities whose future infiuences'are
not comprehended with sufficient CONFIDENCE
| TO base speculative movement upon them.
Reference Is had 10 the prospective proximity
of peace in Europe, and we think the proolem
no nearer solution by the announcement Oh tl9
erentful capituation OF Parls, That result haVihg
been fully anticipated during the latter hall Of
| the week in Wall street. The future which
| lies behind the surrender Of the French capl-
tai is full Of vague uncertainty rs to the results
and changes whlchAare 10 happen IN The iinan-
| cial world We find the foreign exchange
bankers stl6ening their rates to a point which
| is near the specie-shipping figure; but they DO
this more for precauliOn and protection than
| through any ,.well-digested conviction that
they will be promptly called on. for the re-
turn oil the European capital which found It's
way here last fall after the inauguration OF
hostilities between France and Germany. The
surrender OF Paris may be only stage
| in the progress of Europe TO greater
complication than ever, so that calc'l-
latiuns of peace are based on not the sure
est of foundations when inferred from the
caprtulatlon of that city. Even were peace to
| follow the surrender, The question Is again
complicated by the absence OF certainty that
money will return so hastily to the devastated
| REG. ofs of the war, Looking at the situation
again from another standpoint, 1t 10 evident
that In the natural order OF our necessities the
proslrated people OF France VIII want looo
before money, and that whatever ol the latter
will be supplied TO them in reviving and re.
building their enterprises anu industries VIII
come I'm o large part to the markets Which Will
most plentilully supply them with The former.
The future OF our wheat and cotton
trade with peace In Europe Is one OF
signal brlllancy. The hungry sans cu!tottes
will need both our great staples. Under
these circumstances it is not to be
wondered at that the Gold Room paused. and
That on one day-the second instance OF the
kind since the suspension ofspecie paymen ts-
gold stood rigidly at one quotation all day,
without the deviation Of as little US one-eighth
of one per cent. In fact, II was only at the
very close on Saturday, when the Immense
imports of the week-nearly $lO, ,oOO, ,OO0-Were
reported, that anything like activiL. prevailed,
and then it was the result of prompt aclion on
the, part of an Intelligent and keen operator,
who believed himself warranted In punging
in, because the Immediate local influence OF
the above TACT was a guarantee against any
sudden misllap. Otherwise the gold question,
| In Its general features, prevailed q problem 10
| the end of the week.