Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1864-12-19

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65WD tof0C6S IND What ID
GHnrGooU1 rum The1DS !.
Annual Report q the Comp
g B? :; q 81 "a. 4 s!..sl. &. o.,
..~s Csansney, Nos. - 1854 s..
NJ while entertain. the opinion that the
eDrr.ncv oe the country n alse1sjy to- ssurh
eRmand.d. and that It would be national
eoias.j,y il the nstional banking system
el,euld b The meaps u materially inereas-
ins \, I muoe mt be Understood - aenc-
tioaipg he posiou, ~ generally prevalent,
thaa he big, prizes Of coin il to be s!togeth.
q q chiefly attributed In II. or that gold
end silver are, Mt the present time. the
Standard or value in the United States
y IA e,il soll in Wall street. on the lat
q july lat, at 1876 premium, manv Of the
b,st TO ks, ~ well a. productive real cs-
tsts. we're no higher tnan they have been
upon col" basis.
~ sv(ssviag 70 the gold market in New
York during shs thee past years i VIII D.
psrcD6vUd chat Il value has been regulated
By other causes than the imitation VI the
currency,
In Janukry, 1862, gold in New York was
q . premium Of II per cent. 1t SOM Eel TO
I. from which il rose on the 10th Of October
10 81, and cl.Med on the SlM Of December
q ~. On the oath Of February, 1864, il
had advanced to ~. bit IN the 26,h Of
March Uavonblc news having been recciv-
od from the gOuthwest) Il vent down I"
~ but in twelve DAVIS. on the receipt 81
lsss favuseblv gin(ellig nee firm, that quar-
ter. Il wsMt up u ev& A few days after,
up,n ~ vopest u The ir"n-clsd attack upon
Fort 6umser, It fell to 40. and o" the re
csipt Of the intel! gence "f the surrender Of
Port Hudson, TO 23}. On the 10Th Of De-
tober it rose to -, bsAt reached NJ higher
point during the year. ga
On the LII Of January, 1864, II opened q
81, went up - 50 On the 14th Of April, and
fell u 81 on thr 10th VI the same ,nonth-
On the passage Of the gold bi !, June %, it
rose 20 100, and fell the next day to H5.--
On the LIST Of July it was forced up TO l8j,
but vn the day following (the gold bill hsv
Ing BEEN repeatedly it fell to 1870. On the
ll,h Of the same month it went up again 10
1884,: on the 10Th il fell to IA. and after
mary fluctuations dropped on the Goth Of
September to S7-thus rising between the
lst u January aud the fst of July, 1864.
from 81 TO lS5, and falling between the l,t
Of july and 2Hth Of September from 1s5 to
81. None Of these fluctuations were bror ght
about BY an increase or decrease If the cur
rency. on the contrary, gold rose the most
rapidly when there was no considerable in
crease Of tie currency. and fell in the fare Of
large additions % it. Nothing can bc more
conclusive OF the incorrcctncss of the opn-
ion that gold is always the STANDARD ofvaIue.
AMI that the high price it has commanded
in the United States during the progress OF
the war is the result of an inflated currency,
than this brief statement Of ITS variations in
the New York s,ork market
Hostility 10 the government has been as
decidedly mani cstcd in tn effort that has
Seen made i" the commercial metropolis Of
he nation u 'lcp,eciatc the currency az i,
has been bv the enemy in The iic d !; and
unfortunately t',s effort of sympa' hixcrs
with the rehcliiun, and tAc agents or the re.
belli0us States. to PROSTATE the national
credit has been strengthened aud Sustained
Nv thousands in the loyal States, whose DO.
litical fidelity it might be ungenerous to
question. Immense interests have been al
work all over the country, and concentrate
in NV York, to raise the price Of coin ant
splendid fortunes have been apparc,. I,
male ny their SUCCESS. The loyal importe,
and manufacturer of the east and the l,rottuc,
and provision merchant of the west have
locked hsnds with the enemies Of the rcpub
lie in common effort. although for a differ
ent object. and sometimes have produced
results which have created serious apprc-
tensions that tho Unipn might be lost for
want Of means ~ prosecute the wa, o,
rather on account ii the EXCESSIVE and un.
necessary costllness Of the war. The gov
ernmsnt in it, struggles with . gigantic re-
belliOn has mot only been contel,i,ng with
armed rebclx in tho field. but WITH, una, med
rebels in the soyal Sta .cs, backed Nv an I,m
uscnse intcrsst in the. hands Of loyal citi
9ens.
Gold has been . fAvorite article to gamble
IN. Il mas bsen forced mp AMI down by
those tricks and devices that are 80 we'll un
derstood 1t the stock board. The reverses
cf our arms have been used BY the opera
tors Tor IN advance, to send It up, and on,
military successes have been "use,l to the
advant sge VI thcsc who were Interested in
. decline" When the banks and the gov
ernncnt suspended spe:i payments, and a
new standard o. valuC was created in thr
legal tenders, gold and silver, whose legal
value had been tixcl BY the same authority
brcame an srtirle Of traffic. subject to tic
influences that have control Of the market
and UT unfortunately everything necessary
fsr use or consul aption was made IN follow
H.. r n