The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-05-03
Money aud Du.rne.,S--rho Cold Pre-

MUM.
lfrom Henry Clcws SEQ Monthly CIrcuIar)
1t would be simply in accordance with
inyariable experience and with thu iun-
lamental principles Of monetary matters,
to expect an easy condition Of the money
market for the next four months; and II
that expectation be. not realized, 1t can
only be bcCausethe.deTahgements caused
by The defective banking regulations, TO
which frequent allUsiUn has been made
III our adYlces, arc more aggravated than
has been supposed. 1t lie, perhaps, quite
reasonable TO expect that these influences
will have some effect in qualifying the ex.
IRENE ease which generally prevails in
the Summer, and that consequently we
shall see little Of such low rates ION call
lUans) as 2s4 per cent; and there is very
general anticipation TO that effect, and
that, in tic lall months, the slringency In
money may assume very threatening
form.
The slripgency in the money market
having subsidized, We may anticipate, for
several weeks TO come, u generally treer
and more healthy movement In all
branches OF business In Wall street, the
effect will naturally appear in an improV.
cd demand Tor Investment securities, and
possibly, also, in higher prices for the
speculative stocks. The general trade Of
tie country Is in a condition 10 respond
quickly 10 any arleliOratlons OF this char.
scter. Business has been restrained, and
operations which have been postponed
from the unlavOrable condition Of the
money market, will now be actively IN
dertaken. As a rule, the condition Of the
farming and mercantile interests Is pros
porous. Deficient crops, in other coun-
tries, have enabled us. 10. realize high
prices on ! large expOrtable surplus Of
grain and RAimaI products, the effect Of
which is apparent In an increase Of $l0,.
100000 In the value oil tho exports from
this port since January 1st Our cotton
crop, amounting to between $, 800, 900 and
100000 bales, has beOn marketed, thus
lar, at high prices, considering the extent
Of the crOp, and may DO expected to con.
tribute materially 10 the regeneration Of
the cotton.growing sections Of tho South.
These substantial advantages cannot fail
10 tell iaVorably on the future course Of
business, and should be allowed their pro-
per weight as an offset TO tho cmbarrass-
ments which have saFigeu iron the IN
healthy condition Of the money market.
"a
The supply of golden the market APP
pears to be IN the hands OF q lew wealthy
holders, who show much confidence In
the maintenance Of comparatively high
premium. This feeling seems to be based
upon the diminished stock oil gold in the
country, the stock being thirty TO thirty
i've millions below the average amount
and also to the fact that extraordinary
shipments Of specie last year have been
followed by prOportiOnately large exports
during the expired portion oil the current
year, indicating the possibility Of still
further depletion OF the supply, instead o.
the process Of accumulation which ordi-
nariiy follows . year Of heavy eKporta-
lions Of gold. This feature In the specie
movement attracts tho moro attention
from the fact that the imports oi this year
thus far, largely exceed those OF last
although those OF 1872 were much IN ex-
cess Of all precedent Il 10 true, the ex'
hat Of the imports; but lis e beIGpt II
mind thar, last year, the balance oil thu
Two movements was such % IN nGceSsitate
an expectation Of sJme thirty millions
more Of the precious metals than we an
nually produce. There can be no doubt
that ere long the supply Of gold 10 tho
country will be- TeSt0Fcd to Hsordinary
volume; but, 90 long as It stands 50 much
below the standard amount, any uuiaVor'
able turn in the exchanges or ~ the Lon
don money market has double the ordin-
ary effect on this always sensitive barom-
ter OF our finances ard tho premium Il
much more ready to advance tlRn 70 fall