The daily Chattanooga rebel. [volume] (Griffin, Ga.) 1864-1865, 1864-07-01
Gold IN tbe North.


Gold continues to go up and Government nstes
to come down. The parachute, which Mr.. Chase
announced could alone check the rapid descent of
greenbacks-military suceCss-the manufacturer
employed by tho Govornment-Mr. Grant-has not
been able to fabricato to order, All the expodents
adopted aud nostrums administered by Congress
have equally failed. "The gold market in New
York, says dispatch lr,l that oity,"is il most
eroiied condition. The 'u'pen'ioa Of public COM
petition, Effected BY The gold bill, has hro,on the
trade directly into The hondS Of speculators, ard
be more significant of the spasmodic condition of
the money market, in the North, than this state
menR
1t is obvious to every one, who will reflect mo-
ment that the extraordinary competition to pro-
cure gold and to got clear Of the greenbackS is the
cause of the unprecedented rise of the last few days
and the still more extraordinary fluctuations, exhibit
ted during the same day in the market The n. York
reporter in the face of these facts attributes the sx
citement to the suspension of public competition, by
which he means the cessation of Mr.. Chases bids
for gold at 1ocer raes than individuals are willing
to pay individuals lose confidence in the public
credits in fact they have become satisfied that the
crisis in the history of Mr., Chases issue has arrv-
ed. Grant fails to capture Richmond and has al
ready wasted 100000 men in tho vain effort Shcr.
man ia no longer able either to flank Johnston or
to push him back upon Atlanta. Banks has lost
the game In the Trans-M Mississippi. Forrest has
checkmatod all advances in Mississippi. Florida
is free from Federal raiders. Charleston yet proud
" frowns upon her barbarous assailants.
Is it any wonder, with these facts apparent, that
the holders of Fedcras currency should all become
competitors to- change it of for something more
solid and substantial, and that they should all
rush into the market, at once, to buy goldl It is
then the excess of competition. the extraordinary
demand consequent upon the failure Of the last
great campaign of the Federal authorities and pre-
duced by the conviction that the Lincoln Govern
ment will soon become bankrupt-which has
brought gold up to the extraordinary figure of 24S
in New York and 800 in Memphis, with a spas
mode jerk which indicates most clearly that this
is but the beginning of the end.
Nothing could so well interpret the feversh and
fearful condition of the pube mind in the yankee
States as this faithful barometer Of public opinion
as lit has been apty named. The public press,
shacked by despotism, struck dumb by intimidation
or corrupted by brides to speak falsely, if its an.
Wufv auuurtTy Uuu rurfy feStorPu PuH
it we're permitted to portray, with unrestrained
fidelity, the present revolutionary condition in the
North could never unfold the truth with force
than do these significant developments of the gold
market
Men are running wild with excitement-the fear
full revelation has dawned upon them, that they
have been terribly duped by a three years tragedy
that their currency is lighter than sOap-bubble,
and that all their wealth has been swept away from
them, unless they can barter of the WORTHLESS green
backs for gold, at almost any price, Their very
excitement will hasten the final catastrophe. The
armies have probably caught the excitement and the
trepidatOn. The leaders, hurried on by impending
ruin, plan with uncertain aud Obscureaim The
Gen1s are driven to rash assaults or paralyEed into
hesitation or naction. False reports are rosorted
to, for the purpose Of staying the food Of ruin
which when detected make matters worse and pre-
cpitate the impending and awful crisis.
Amid all this excitement and fear, the guilty
authors of the war cover and tremble At the GER
tain judgment that is near at hand. Paris never
witnessed more terrible scenes than await these
monsters of iniquity. They are making tremen-
dous efforts to avert it. But it will come and that
soon. The DEATH rattle of the disease is already
distinctly audible.
All this prosages day for the Confederate
States end their long suffering people of glorious
and final success. Brothers, our toils-Our anguish
our suffering, are nearly over. little more pa
thence, iortitude courage and sublime trust in God
will complete our trials Let W thank Him whose
hand has guided us and humbly endesVor to be
worthy of His blessings.