The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-13

S %'S g ss,,!. Boon Kari, IN tn. Ss~r'.r.

Ola Coming Room EaEIy In the New Year.
N.T. BallHln. ~
AZ the Stock Exchange, there continues
an excellent demand for strictly aSe.elasS
investments, like United States bonds,
good railroad bonds and choice dividend.
paying shares, This demand, Al well A.
the buying Of purely speculative iAnciOs,
IS due In large measure TO the iorscAsting
Of the money market. The Western ex.
changes favor u steady accumulation Of
currency al this city; aud when the funds
now facilitating the moving Of the hog
anu cotton crops have completed their
functions, we may witness surprising
plethora Of money. A review Of the mon.
eMty movements Of the last four months
WIZ illustrate this prospect, Al the begin.
hlnR Of August, the amount Of lawful
money resting In the Clearing House
banks was S17,;D0O0OO. Since that time,
1875, 200 Of gold has arrived from other
countries, besides which few millions
must have come from new domestic sup.
ples-the bulk Oi which las become avail.
able Tor banking or .Circulatory purposes.
mlthin the same period, the Treasury has
paid out 81. 7OO, 900 In the purchase Of six
per- cents, These items give 4 total Aup.
ply Of money At this centre, FROM Aug, .
70 date, Oi Sl5i,870,0OO. Yet the bank
statement ot last week shows only S8B, 500, (.
0OO Of lawful money In the banks. We
have thus Y balance oil SIS, ! 70, 900 oil money
that has been distributed from New York
throughout the county since the begin.
ming Of August. This has gone to tue West,
the Southwest and the South ior
facilitating the marketing Of the grain,
pork anti cotton crops. Tbs eiilux Is be-
yond all precedent; which Is rapidly NC.
counted for from the extraordinary volume
Of the products sent To the Eastern mar.
Eets and also from their comparatively
high prices. II Ii, however, an inyaFiable
rule that the currency thus sent to the In.
terror comes back TO the seaboArd about
the opening Of the new year; nor Is there
much exception to tie rule, II It happens
that tic sales Of western and southern
products 10 the east exceed the purchases
Of those sections In the eastern markets
Tor, In that case, the balance drifts hither.
ward for investment or temporary employ.
ment. This year the newer States and
Territories have received an exception.
ally large amount for their crops
beyond what they are likely "
spend Rt once; and IA banking facilities
are very scarce in those districts, we may
expect certain amount OF temporary In.
dividuAl boarding at those remote points.
This. however, Is an exception TO the rule
oil comparatively little Importance. A
certain amount IL likely 10 be kept also at
the larger trade centres Of the West, to
meet the rapidly increasing banking re-.
/ qulrements Of those cities; and the In.
creased activity Of trade, and the rise In
prices will naturally call for more money
in the retail transactions OF the country at
large. But making due allowance Tor these
absorptlOns, It will be seen that there l.
an immense amount Of currency destined
TO How back TO the chief financial centre
Within'a lew weeks. The foregoing figures
refer only TO lawful money. In addition
to that, however, a considerable sum In
bank notes has been sent 10 the interior;
and some $lO,0OO,000 had been added 10
the bank circulation during the four
months. Reasoning from all precedents,
we should conclude from the foregoing
facts that 1850 will open with extraordi.
nary facilities for an expansion OF Wall
street operations, whether those Of pure.
ly speculative nature or such as relate TO
the Inauguration Of solid enterprises,
which just now appear to be building up
in oil directions. Those, therefore, who
imagine that the FINANCIAL activity Of the
asst few months has reached It's final cul.
minnIiun may quite possibly tind that 1t
vas but the beginning Of an era Of expAn.
siun that will make 1850 memorable 10
our financial annals. Or readers may, II
hey please, accept this as prediction.