The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-12-16

resting subject. Why should a success in the
war cause gold TO come down, or, rather,
paper money TO rise in value2 when a vic
tory Is gained, Il is supposed that the war is
thereby brought nearer to q close aud at chat
contamination OF our hopes. the redemption
Of the paper currency will begin. As il Is
thus being gradually redeemed. the money
Of our country viii approach nearer and
nearer 20 the Old staudard-gold; and as the
system advances, q dollar M paper win come
nearer and nearer the worth of a dollar in
gold, until, finally equilibrium restored and
the amount on thc face OF note viii repre-
.cut is actual value.
However plausible such an explanation
may have appeared, Il viii not answer the
purpose desired. ftho inyaroblc law Of gold
0ucwaGou is that with success 20 falls, why !,
it that frequently Immediately after certain
victories the premium on gold has advanced
victories, too, which are not barren, but have
brought with them decisive advantages The
causes which act upon this barometer are
multihrious, and cannot be reduced to any
standard, nor yet to any system. 1t is capri
cious, varying, and changcablc. without
cause il advances, without cause it declines; to
speculate in it is lottery, and many Of the
holders Of tickets must draw blanks.
We propose to glance at the variations which
it has undergone since the passage oftho Gold
bill on June II. On that day gold opened at
$50, and about noon POS was reached. Under
the influence OF the threatened, and finally the
actual invasion Of the District Of Columbia,
the barometer rose gradually until, on the 11th
Of July, it reached its maximum, the highest
point caused by the war, and settled at 2Sj
an advance in twenty days of eighty-siX per
cent. On the 10th it reached pa, the lowest
point for July. During August it underwent
the most eccentric changes, ascending and
descending in a manner perlectlyIi- eXplicable.
Every runor had its effect, and fortunes were
made and lost during the days Gin which he
dog star reigns," all the variations, however
being between 2l5 and 25S.
Towards the beginning Of September all
eyes were turned to Chicago. The assem-
bling of the Democratic Convention caused u
vast number of political rumors to be set
just previous to its assembling gold sank to
.231, while Immediately ailer the adoption of
the platform it had risen to 25ia. Upon the
receipt ofthe news orSHEBIDAN's victOrygold
iell from 22G to 1S5. SHERIDAN therefore did a
double service to his country, for with his
glorious deed came - fail Of gold and ruin to
many OF the secession spectators who
are coming money out Of our soldiers blood.
| Gradually the premium ascended, until on
the 18th OF October PIP was attained, when
again the gallant SHERIDAN deea ed the
Rebels, and in twenty-lour hours it fell to POS
The election had no effect upon gold, rs the
! result was for weeks before . foregone con-
clusiOn. Since which time il has wildly
| Guctuated, and as soon as the glorious news
IRON SIBERIAN is confirmed, the fall of gold
will follow the fall Of Savannah. The news
although probably true, has not yet assumed
q definite shape. As soon as that is reached
the efecC upon gold will be at once visible.
We give below the mean maximum, meaT
minimum, and average mean tor each Of th