The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-05-13

AyEIERAS banker ol Wheeling yesIer'
4.y remarked that be had never seen such
times "a the present in all his long ex'
psrsucs in financial matters. The busi'
usss Of the country Is immense and on the
increase, aud ys! money Is cheaper than
ever before known. People are willing 10
py fabulous prices lor dividend paying
securities. The sincreass oI money is greatt I
than the incrs,ss In business, great IS Is
the latter II frankly confess" said he,
that know nothing about the future"
tIs had supposed that the magnitude oil
ba.irsss prevailing throughout the coun.
u could have absorbed capital to such
an extent IS to havs kept up the rate oi
interest at least to the supposed normal
standard Of siI per cent, but so vast have
bsen the exports Of the country and the
consequent gain Of wealth, that 1t seems
Impossible Ior legitimate business 10 fully
employ the capital in the hands Of the
people.
This 10 tue fact, and no wonder that old
time Conservative inanCiers are puzzled.
The situation only goss to show that one
epoch in the history Of the country will
not SnsweF as a guide for another In 9
country like ours, SO vast In lie area, 90
bouudlsss In It's resources, so diversified
ID isoPPoHnnties, where population and
production are increasing 80 rapidly by
immigration, where railroads are playing
such a novel and all.important iactorship,
aud where machinery is doing the work
OI human hands to such an unprecedented
extent, there is no way Of foretelling the
e1Ict outcome Of the wonderful era in
which We are living. The present state Of
aaLn NAV last for years. No one knows,
1t may run along in a conservative chan.
ae Tor some time to come. Then again II
may burst through the conservative chan.
HsIs at an early day, pour through tho
efeYaS'e keGswolleL Aood, and inundate
the country with avid overflow Of specu.
lGtiou.
The last named event is the danger that
threatens the country sooner or later.
The antscedents Of the panic Of 1873 are
remembered but dimIy by rtea, many,
New men are In business, and compsti.
ton Is daily becoming more active. Their
sails are spread to the breels, and the yov.
age before them looks long and pleasant.
A'yet the cloud, no larger than mans
hand, is not seen in the heavens; but
some oil the ancient mariners in business
are scanning tue hot,on with apprshen.
ave eyes, expecting to discern a ppeck
mere aud there before this year is out.
lnefe are, on eolher hand, those who
look upon the present era as entirely
phenomenal In tH nSture-as having no
Precedent whereby ii may be judsed-as
aA'Iy 10 continue much longer than any
etae' era Of development in the Countty's
history The agencies at work are differ.
W. ' Anu tue situation is wholly changed.
We ". are no longer a borrowing nation.
"sm mas'eat exporting nation, with 40
lu@ense balance Of trade in our favor,
.Iu money IS coming here from all partl
% " Ia' Old world Tor permanent employ.
..n' and investment. Hence, by The
y t'uCy s.. oil this capital, and by the agency
W railroads and mschlnsty, our ptoduc
N'u y 70 become 40 vast and wlthSl sc
uusn eAea7ened that We will never again
-, y. "a eh oil high prices either for mer
eaAnt.e OF capital.
.Is'e he 'ptCulstions put out ever,
S.y 10 some form or other BY those NhotI
ln.efe''' ,'u or tastes lead them 10 discus
y'usteni pha'es oI the business and finan
s.I ','oAasn. We aRtee with the gentle
%a u,aa 70 whom We referred at tho Outset
M Tue experience Of the past does no
%. %.Os much lish! On the pecullAtilies Q
Wv present time, and that the only thin
W. ".'5. p'odent men to do is to so shape thsi
depth. S' "''O"U '''