The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1863-07-15
Gold. SordiCl Gold.

Gold, Sordid Gold.
1t is sometimes rather to be questioned
whether the auri:crous metal does not riva
the national crisis in the interest and anx
iety with which the daily rcpor, is scanned
The daily telegraph does not always ob
tain our implicit faith in the reports O.
any operations or perhaps they are very
nragre when we want them 10 be full, ther
we instinctivcly turn to the market rrpor,
for the comparative value Of gold and thus
make W OR faith about our nations peril
or its success. Our loyalty, our hopes
our griers and our rcjoicings are all weigh
I'd in the Gold scales Even these are no
nough, but with them we couple our bus
ine prospects Of how many goods to buy
what goods we shall sell at small loss be
fore "the bottom falls out" or what other:
we shall ask an increased price upon for
sure gain. Gold follows US in our count
ing room, in the street, to the social circle
| 70 our houses, into our our beds, when ",
rise and even to the sanctuary whore per
chance we st.dy out the prospects on tn
! back of the seat before us. This Goldp,
t;oi e ms to control movements priva,
| md public, Ike our faith in true ther
IN IN ter, forgetting ;l.st other influence
may aft CT it besides the state of the nation
| 1t has It's fluctuations in times Of peace
| Mint> may and do make different caratS f,
hc va,uati MS which are not cosmopolitan
the world over.
Every nation has different standard an,
ing.t Gold has always Il commercial valu
above coin of the same carat, the nativ
value Of which frequently depends on tn
supply. Gull itself has at all times bcel
a commodity, snd as gcli has no 9th,
! character When coined it has natinna
min, value which may be Increased or dc
cr, IS. in different countries according a
it may compare with their mint and tn
cost Of rr-coining. 1t is the weight G
pure gold in coin that gives it mark
valu", not t; mintcd estimate. For in
stance, the sovereign of England has
mnt,d value Of A 9 dollars but in cynSe
gncncc Of its purity and some Exchange,
rates ere as compared with our coin n
about 4 ST dollars. Many Of the German
coins have market value in a contrary d
rection.
The consumption Of gold for manurae
lures is larger than for coin and its valu
in a measure depends upon tho demand
If luxury, as well as for mn,ing L'k
any other metal, quality, quantity and d,
mand have strong influence on it's mark,
value. AT one time the "Pill,r Dollar" ,
Spain commanded quite premium for tn
Chinese market, but other dollars were NJ
thought to be deprecated, even If Jnh
Chinaman refused them. Gold had on
time SC little value in J'pan that the n;
tives eagerly exchanged it for silver, ounc
for ounce, but that did not make panic i
the gold market here. If from nccessit
Europe should offer such a price tor whc;
as to stop the export Of gold, there woul
probably be gold panic in Wall street, b,
paper dollars would ren,ain at the sam
value. While gold might decline" an
wheat advance paper dollar would HI,
more gold than now, less wheat, and tt
same as now perhaps Of other commoditie
In this case would our currency be bette
or worse than now? Because wheat migl
BE- worth two dollars bushel instead of on
would it reduce the value Of paper none
one half? The premises are the same
gold the condition Of the worlds harves
makes 1t unnecessary, to export wheat, til
condition Of our country makes large ShiI
mcnts Of cotton impossible, the demands {
foreign dealers must be paid in the nes
best thing, and gold is exported instead {
cotton or wheat, thereby becoming sre'
commodity, getting its value according
its supply and the demands of holders.
Cou mcrcial transactions arc made wit
money, meaning coin or bank bills an
they are usually paid out at the par mir
or bank value. Some small discounts Q
premiums arise to pay transportation @
expense Of handling, or apprecative valu
~ the needs Of trade. But when an
kind of money commands heavy prem
um or, is subject to a large discount
disappears from circulation and becomes
commodity. So gold, now commanding
large premium is no longer money, il
this nation. but branch Of commerce
controlled by its mint estimate, by whic'
t is purchased and sold. A dollar vii
now buy one pound Of cotton, whe1
three years ago it world buy ten, but a
the same time it will buy twice as mucl
corn now in some places, than it woul'
then, We might go on Illuminating !!