Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-09-23
GoId ~, me aIide.
From the New York Evening Post

From the New York Evening Post
The fall of gold means the rise the
nation. 1t means the restoration Il the
fortunes of the republic. When itates
are in revolution it Is always 60 gold,
diamonds, plate and jewels are held q. high
prices in proportion as affairs are critical.
AS the critical state passes over they fall
in price, slowly at first; but when the re-
establishment of civil order IS no longer
doubtful, they go down "on the side," as
shin from her WAYS, when the last prop Is
knocked away. We have not yet reached
The point at which the last prop Of the gold
market will receive its blow, though the
minor props are disappearing one after an
other and the launch may come at most
unexpected moment. Atlanta, Mobile, the
Weldon RailroAd-these have been knock
ed away, and quotations fell accordingly
from 290 TO go, from 20 to $50, from 25O
to220l Mark the steps-they are not
doubtful. And in the same proportion
have risen the fortunes and credits of the
nation. In the immediate presence OF a
gradual though steady decline In gold, we
do not. like those at q distance, catch the
full force of the blows that are shattering
| the rebellion. England catches 1t, and IN
singularly short space essentially recedes
frbm her 3" belligerent" policy in favor Of
the South. Yesterday she lifted out pirates
| to destroy our commerce; to-day she con-
/ GRADUATES US on the capture Ofone ofthose
| very pirates built by her own hand The
/ truth is, Europe begins to look with amaze
ment on the unequiyocal proof Of national
i stability displayed by our populor form oi
/ Government She ceases to question the
vitality of the Union.
But we are not without evidences of an
improving sense, in the common mind a
affairs towards the complete re-establish
ment of civil order. The shopkeepers IL
II New York and Philadelphia are posting
piscards in their windows and on In
awning posts, to inform the buying publi
that they are reducing their prices No
!. few are selling off to close the concern.
!, Some are selling "below the manufacturer
!, prices," and all are anxious to get green
backs for their goods, On the other han
, the public are awake. They buy to-da
! for to day only. The general advice tina
passes from mouth to mouth Is wait
: wbile-things are coming down. N
; doubt of it-they must come down. a
1 present prices they are swindle on labC
Q and industry. They went up because gol
S went up. The whole forces and art Of th
: shopkeepers now is to persuade the publ
g that little reduction in prices makes the
D merchandise cheap. But prices have NJ
: vet fallen nearly as much as they advance
on the rise of gold. The same reasonin
applies largely to the produce market
We notice already fall of twenty P,
> cent in some. prime articles OF househo
g consumption. sa
r, We shall not be surprised at a vel
d marked change in the provision and fu
J. market this autumn. Large stocks ha7
3 accumulated on the rising quotations
i gold. No corresponding reduction b
2. taken place on the fall from 290 to 22O.-
:. But this may be expected as an unavoid
bic commercial necessity.
is Wecould easily name the eircumstane
y that would put gold and prices general
" on the slippery side of the hill. But
es though we believe these circumstances a
n, coming and may be near, we do not r'
r. our argument on vaticinations OF the
ic ture. We reason on facts as they a.
n These are daily accumulating before 0
of ewes, and are becoming apparent to
ly mass of the people. The little recover
is of gold from day to day, and from hour
1t hour every day, result from the feverii
r. ness of a speculation that grows more a
of more hazardous and desperate, The
ne shippers of merchandise are in contenti
ly with the falling markets, trying to 50
to themselves from loss. But they cam
be succeed. There are now goods enough
in the shelves of the retailers to carry us o.
next summer.