Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-06-29
Gold Mt 2IO-Why

The gradual and almost continual deprecl-
ton of greenbacks, until hundred dollars
will buy only fifty dollars Of gold, dumb
Pounds many people. They cannot under
stand how it is that the currency Of the Gov
eminent, which has such 4 basis Of wealth
on which to levy taxes, such importa6ons on
which to Law a tariff, such armies to fight its
battles, and such determination on the part
of the people to carry it safely and triumph
antly through its present struggle, should day
by day fall in market, and that even victories
do not materially change this constant de-
preciation. There are many reasons for this.
In the first place, the issue of the Treasury
Notes was greater than the business Of the
country required, and just as in regard to
every other article, the law OF supply and de-
mand has affected their market value. II
the country needs only fifty millions Of dol
lars for the transaction of its business, and
there are five hundred millions in circulation,
of course they must depreciate, just as would
a double supply of any other article. But
ereenbacks will continue to depreciate during
the Rebellion until pretty certain indications
exist that it is nearly over. When the bust
ness of the country can resume Its usual
course, Treasury Notes will begin to appreci-
ate towards par value. Gold is at two hun
dred and ten, because the exports OF the
country have been nearly cut off. The Re
bellion has pretty much ended the export Of
cotton, of tobacco, Of sugar, and the hne
crops made in European countries, hereto
fore our largest customers, have made them
for the present independent OF our bread
sruffs, of which very little, comparatively, is
now exported. Thus our means OF paying
foreign debts is gold and silver almost exclu-
sively Treasury Notes will not do. Now,
these debts are heavy-hundreds OF millions.
As we have said before, there is not enough
coin and bullion to pay the balances against
us. And so gold is likely to be high while
our luxurious tastes makes us spendthrifts
and national debtors. While gentlemen
souander fabulous sums for wines and liquors,
for broadcloth and boots, for carriages and
sprees, for follies Of all kinds and at all high
prices, debt and depreciation must ensue.
There are six or eight firms in this city, it is
reported, which do business in tobacco and
cigars of three millions of dollars year.
We have population Of half million. Six
dollars year for each man, woman and child
in the State, for tobacco and cigars Gold is
at two hundred and ten also, because the
great ambition Of 4 very large portion OF the
women of America is simply to be expensive;
that they consider the fashion. 1t is not
taste in dress, it is not art, 1t is not sensible
style, 1t Is simply extravaganza, cosp-Squan-
dering of gold, however obtained; gold, in
too many instances not honestly got, which
is the great passion, which is fashion. It is
not the intrinsic value, it is the cost alone
which fixes the claim to fashion, style, re-
spectability and society. To achieve this, to
wear costly clothes, jewelry, to indulge in
any and all kinds of costly follies, to have no
souls nor affections, only bodies and orna-
mentations; to sweep the streets with vel
vets and silks and satins, to do this and a
thousand times more than this-disregaIding
the wear and tear Of the body and brain OF
the poor devils who indulge in the luxuries
of such wives, such daughters, sisters and
mothers-is the life of the fashionable wo-
men ofthe day, shoddy in taste as in fortune,
paryenues in position Us in intellect. This
Is one Of the reasons why gold II at two hun
dred and ten. The country cannot abide the
pumping process of our luxurious expendi-
lures. The extravaganza of the Romans is
equaled, if not excelled by our people, male
and female. Our resources cannot stand the
strain. There is yawning gulf Of individ-
ual and national bankruptcy ahead. into
which this spendthrift life will plunge US, un-
less reform is inaugurated.-CaR, 25th.