Financial Look Into The Next Six Months

Tno last cUhIiii' of t!ie-la.-t Gnvenitneut Luán a laken. Oppórtuuity for iuvtitineiM in federal secuties, t-xcept at a promiuui, Las pasfeii, at lenst until ('o'igross iliull authorizi aiiöther issuu of bonda Six months, "icihüfis a Ionger time, wil] elapso béfore thui body c;m [jeifect and légulizu my finsacial plan lor the futuro. Tliu Seorelary ol the rreusury tías no discretion meuuwhilu lio is rigidly bound up by the terms of lbo statutës as t i i ey stand on tlio hooks. lí' lio vvero iutrusted viih uuliuiited power, except lbo power to borrow moro moucy, hecould du noihiug but whut lie ill iiow bo compelled to do - tnru bis w-hole nitentiou to providing to-d'iiy for ihu inevitable expendituro of' to-iiiorrow. No .eitiinate can bc snft'ly made of tbc umount of raven ue tbnt vvül cottre int bis bands, until Congrefa does asserublu. Expecti d rcsults doptiild upon so mauV contingencies tbat 11 propbccica may fail. Iu uur opmiou, bo will be cninpelled to kite a long a bo eau with certitioates of ndebk'dness, uul by tbem (ill up tbc defieieucias in rcueipts, and thtia keep hi.-! uiacbim running uutil bu fiets relief. In flny ovent, the.e íh nu potiiibiiily, cartaiuly 110 probablility, tbut, in the :cxt half year, bo can do anytbing toward rednCing tlio amount of tbo circulating medium now uñoat. We explaiued, yeslerda}', irom tho story told by official doeunicuts and caroful estimntcs, tbat tho groes amount of currenoy - uational and bank ourrcucy - in tho houds of the people, was very lurge. - We stated it to be eigbt buudrod and fifty millioüs of dollars, and we belicvu tbat, we wure under ratbor tkan ovor the mark. 'l'he loans all being absorbed ; the Government boiug unable to niake auy movo toward the redemption of its notes; the bunkn, impolled by strong self luter ost, being unwiiliag to do unyüiing but push out the last dollar in their vaults; the pockcts of tho peoplo being füli of ifioney; - we ank what is to bü the tendeucy of aöairs? Are wb to huve hard times and prudence, care, economy and safety in tho management of businuss; or, are wo to lrivo a ple'honc money narket, ;uid a peiiod of wild, visionary, aud iatal epeoulation ? Wesee nothiu to' prevent the latte?. All the conditions whioh invite it are fulfillod ; and, in our opiniou, no power can prevent its realizsticn Huretoforo tho loan market in whieh the Government h:s baou tho largest and most profilablü oustotner, has aeted as s nafety ralve by whioh a dangerous aoeuuiulation of the speo. ilativo pirit has beau prevented. That valve has dow boen shut down. It ia probablo tbat all Government boudd will rise to a slight premium. If thtjy lo, and to n ltiB oxteiit if thüy do not, the inquiry will btí soon or. evory sidi-, " What hall I do with my surplus rnouoy ? How oan I iuvest it so as to get n good return ?" Wh"n theso oininous son n dit strike the public ear - au ovideuoö tha6 capital is begging for custoiiiers - the day of ppculation is not far off. In tho bogimiiüg- tho gambling tendonoy may be gunrdod and cuutious ; but it giowa by wliat it feeds upon ; and before Con grens gets re;tdy to tinker up tho íiníinoes, tho ipeculütivo inauia will be universal and fuiious. Wc do nut now ace, and perhaps nobody can teil, what it will first aüaek; bat when onoa startcd, tho public may be sssureil ihat it will seiza evavyüunfi in lts turn. It is probable that railroad skmka, au thuy liavu long been tho favoritos f tho ipycuUtive classes, way feel the firut impulsión ; and from tbein the rnotioö nill be ■communicatcd to olse of real or fiotitius lalue men fire nocustomed to deal in; and, perbaps, büfore tho peo le are ftwsra oí tte teudeney of ati'airti, or iiavo ooinpi eiiondcd the ti'uo reasons of ihe movtinont, thu country will be in a blaz.i of BXoitement, equul to, if not far surpnssing, tho gi'eat furore of Maich, 18ü-t, vvhen it was ihe rula ti New Foi'k, and to less cstt nt in Chioago, for evory epecnlatoi' to make a fortune iu a week. We think we see plainly enough thnt uiiniug, oil, and manufacturiag stocks, f.s well ns grain and all the graat iigrioulturiil staples, and pojsibly city lotg, will bo blowu u like so laany bubblos, and that the entiro property of the cotintry will bo whirling iu a rast rerial oddy from which, before the storm is over, tho wrecks and fragiHonts oí' fortunes destroyed and enterprisea foundered, will strew the ground as thickly at down trees in the track of a wind-f'all. Thero is anothor agenoy in addition to thi se that we have mentioned that will coutribute to this droadful result ; aud that is the small bonds of the various loaus that havo been taken by the people. Wo do not know the aniount of the "fifties," "hundrods" and ''üve hundreds" that have beeu issued; but the RM is immenso ; and we do know that in a i time of either panio or speeulative escitement, these bouds, tiow quietly reposiug iu bank vaults, chest-tills, 1 drawers and breeches pockets, waiting the semi annual paytuects of interest, are only bo many pioces of paper that will forui an addition to tho circulatina; ' diutn. Stringency will bring them íorth I to pay dubts, and tho desiro to niake raonoy by speculatioa n il'l put them flying i the air like so mnry autunm leavos. Add them to the eigbt hundí ed and fifty millions of bank and uational currency, and we have aD amount íour j times ae proat as that required in a eound and henhhy condition of afi'airs, todo' the eutiro business of the country I- When, then, we ruinember how smalL an iddition to tho bank paper oi the foriner speoulativa periods suffieed to upsot all prudent calculations, and give fargely ineroased nnd pnrely fictiticua values to all tho country contaiueel, wc inny calcúlale' with rensouably cortainty the esteut and violnuco oi tho oXcitoiaeut that is approaching. Look out for tho coming storm f He is the safe man who, has all anchors down to meot it. Ho is the fooi who imagines that ho can control it, or that lic oan ride in it as ho picases, aud then tjuiet! v diop to tho ground and leave his feUonve to dash on to destruclion. An Englishman, wbile on n ppree in Mcinphii the other day, gave a Germán liquor seller a letter of credit for $27,f)00, na Se-CViritV for the licuor ho drank. Thi'Oüuh the aid of the pólice it tras recovered.