The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-07-01


"Gold 10 100. snd The property Of the
country will Be destroyed" nays Mr..
Eaintheart.
"Gold is going to. 200, and l shall be
broke" says Mr.. Wsakknsm.
III am ruined! Ny bank balance 10
worth only 6fty-6ve cents on the dollar"
says Mr.. Neverthink.
Let rs stop moment, gentlemen, and
look into this matter. Facts are better
than fears, principle il better than preiu.
dice. You are suffering-yes, suffering,
there 10 no other word for it-under the
dslnsion that the amount Of gold and ell.
vef IN the country is N equivalent OF it,
wsaltA Now, do yea kssx that tie
highest financial authorities have never
estimated this amount At over Two hun-
dred sad City milliops. and il i probably
much less, even in time Of peace. Bot
suppose We admit that il 10 thres hundred
millions; and sox you know that, accord
ing 70 the UNiied States Csosss Of 1860.
the wsaith.of the country Ii real and
personal propsrty-wss sstimatsd (rathes
too Low than too high Il fifteen thesiaad
millions. II you will just saks Jour pen
Gil and cypher out the proportion that
three hundred millions in specie hsap to
fifteen thousand millions OF property, yoa
will discover that it is-Whas Gay Der
cent? No! Twenty -fve per cent?
No but exactly t,co per re1t.-tbat is,
the whole amount = spssie in ~ eoun-
try never IVES two pr oe4t3 & ! Aftieth
part of the specie value Of Lhe property;
aud if, 1t any ono time the whole prop
ersy Of the country had bsenl forced 70 sale
for the specie in the country, Il would
not have brought two cents on the dollar
Of it actual specie value.
Specie, or the currency that may stand
for it, 10 only the convenient and rsooe-
nized medium for making a exchange Of
products. Il represents property in the
4sarkst, property in transit. but never the
fixed property Of nation. Money is the
lubricator. 1tdon't make. values; it sim.
dly lubricates the machinery, aad keeps
the wheels Of Sommeres running smoesh-
y. When too abundant, tho wheels run
too hst; aud when scarce, there u too
much friction.
And now. Mr.. Fainshsart, cao you pick
. aaw in our statement. II IL not abso-
late TRUTH But what shall ~ Say 70 NJ.
Wsakkness, Who il afraid u bsnkrupscy,
SD dr. NevestAink, Who i ealy efnid
Of his ank.balaaos. II Nj. Weakknsss
10 in debt, il il now easy to ct out.. Pay
up while noaey ispIenty, and b happy.
II . mortgage on your land viii Be- due
asxt year oeany ye6r provide Tor il now
while you are getting high prices for
everything you sell.
But Mr.. Never think, yoa hase-say
: bank balance Of e40,00O. You are
Arid, thai gold il going up Of pager
GQing down shout oas Of sight, and you
Wish to invest this balance ID some pso.sl
ductive property. Will yOu buy house
worth only &c, 900 in specie, and nav
Tor Il I'll, OOOfin currency ( Supposs voo |
wish to ell that house aftsf the rssuihp-
hon q spscis payments. is viii bsisx you
oea = ~; 600, And you hsve iost sxac.ly |
oo.000. viii thai IS shreRd ouAfs.
lion 2 VI thiuk. ~ ssan s.pue soaF ~,
lp.soneth 1lter- -someahisa 81 which
ron eas ns6e ycuT bank balancs 81 car |
'snsy ~ saay - IL 49, il gsad, shs,
] prenian bssid -. Z Invest 10 Goveen-
~ Bss1A Bag IS -to's. A1et
- ~ = ssss, ~ VII = ssgeh - i. /
M - pnol1is<tUvsf- 1AeH1a8 u
ihssal eel1 inteslst fpa ~ nj Sinkll
m A.. - sn-a - ~ A. -. ~