The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-03-17

bUblhkAb fR0ePECb.-lnCS statement
VI the New York banks for the week
ending Saturday last Is not by any means
40 encouraging exhibit as to the state Of
trade, Notwithstanding the superabun-
lance Ol money in that market the loans
were contracted over million Of dollars,
showing that the people instead Of avail
log themselves Of the present rates TO
seek accommodations In bank are
actually paying of their old loans
and declining TO enter into new
engagements. Aud what Is true Of New
York lls true 10 q greater or lees extent
al all the leading money centres Of the
country, Tho Pittsburgh Dhpatch Of
yesterday. Tor instance, in speaking Of
the outlook for business says that
II Is useless 10 endeayor TO conceal the
prevailing lullness in financial and com.
merCial circles III that city The i'm.
ptoVement that was noticeable some
weeks ago was founded on expectations,
and was therefore speculative in lis char
Scter and these expectations have not
been realized. While this fact presents
iscoursglug outlook Tor the time being,
and while 1t shows that trade Is yet sui.
erlng from the effects Of the panic, yet
the Dispatch takes comfort In The belief
that II also shows that radical curtail.
menl oI the credit system Is going on all
over the West, and that business is 10 Q
transition state from credit to
cash basis. "Trade Is accommodating
Itself 10 the new. order Of things Sbout to
be Instituted, and men are becoming con.
tent 10 carry merchandise aud conduct
business on scale commensurate with
their capital, When the change is fully
cOnsummated the country will be fnan'
cial!y more prosperous than ever before,
aud the danger Of panics greatly lessen.
ed This new departure in the manner
Dl doing business is gradually and quiet.
" being taken without convulsing the
financial world or doing violence 10 per.
soma now engaged In manufacturing or
mercantile pursuits. Expenses are being
GurtAiled, and there Is less disposition to
borrow money on mere promise 10 pay,
With little chance oil being able to meet
the liability"
This disposition 10 sail close TO shore
aud DO a safe rather than an extensive
business Is naturally developing great
deal Of apparent inactivity and languor
10 trade circles, aud hence Ia city like
Pittsburgh feels al = time like this that
her capacity to produce is lar in excess OF
the wants OF consumers. And what Is
true o. Pittsburgh, on large scale, is true
of Wheeling on smaller scale, although
We do not understand that there is any
special, complaint amopg manufacturers
here Of q, want Of demand for their pro.
ducts, Perhaps Just al this precise time
there is a falling of in the demand,
but the trade has been good for weeks
past.
The New York Bulletin, in speaking of
this SpSthy in trade otWhlch the Dis.
patel complains, lays the blame for it, to
. considerable extent, on the neglect Of
Congress to lei the country know whatto
look tor iu the way Of a financial policy.
lts view Is supported by the call pub
lished in our dispatches this morning lor
q mAGs meeting In New York 10 demand
Of Congress some expression showing
what the business men Of the country
may expect In regard TO the volume oil
currency. The Bulletin holds that the
lack Of activity this Spring in trade is to
greater orlesS extent owing to the per
Gtstent refusal Of Congress to say whether
the volume Of currency Is 10 DO $780,.
100000, as II would bo il all the reserve
should be issued and the National Bank
currency swelled to $400O0O00O-or
whether It shall be $4,000 600 less than
this amount, as It was before the panic.
The nncertaipty begotlen by the hesita-
lion and Vacillatlon Of Congress on this
subject has had very Encouraging and
demoralizing influence upon all sorts
ot business enterprises, and will, the Bul,
!stin thinks, cost the country great
deal OF wealth in the way OF de-
Velopement this spring and summer. II
ls plain 10 be seen that the business peo.
pie ol New York are worn out with the
dilatory. course Of Congress in this highly
important matter, and are now going to
try what they can do In the way OF pub.
lie pressure. We trust that Congress,
which meets again today, will an.
I!cipate this pressure by taking up
the, subject at once, and lei the
country know what to expect iu re.
gard 10 the amount Of money that is 10
bs put in circulation. They have surely
debated the question long enough. The
people are tired Of the endless discussion.
They demand such action on the part Of
Congress as will put an end to the long
and vexatious delay that has, taken place.,
FL
WEST VIRGINIA CONFERENCE.
Last Day. Ain =