Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-08-26
Finaneinl Inferu,ation.

| A San Francisco mechanic having writ
ten to the Cal. inquiring as to the char
acter of government securities, and the
propriety and best manner of investing
therein, the Call answers the questions
propounded. As the condition of things
in California and this Territory is similar,
we publish the questions and answers:
Having always found you ready and willing
to ventilate any subject Of interest to your
readers, venture to ask a few questions (of
interest to me, and hope to many Others
through your valuable paper, hoping you may
have space and inclination to reply. Not
having kept myself posted on the subject,
and not having the facilities at hand to in
form myself, wish to know: /. How many
kinds Of Government money have we in cir
culation? 2. What is the relative value of
the interest bearing notes or bonds compared
with greenbacks, both here and in New
York: 8. How many of the different issues
have been absorbed or put in circulationI 1.
What kind and how many are now being
thrown upon the market? / find on inquiry
there is no agent on this coast from whom
we can buy Government Bonds direct, but
are compelled to pay premium " over green
backs" to brokers for the same. Here in
California, with but few exceptions, mechan-
les and laborers are paid off in coin, where in
all other States greenbacks are the currency.
Through certsin causes, speculation etc.,
greenbacks are now at the reduced price Of
thirty-nine to forty-three cents on the dollar
in coin. A mechanic coming from the At
lantic States to California at the regular
wages here, can, by little economy, pay his
weekly expenses and invest the balance Of
his weeks wages in greenbacks, and have
have at home for the whole amount of his
wages. find there is growing inclination
here to invest in this currency, at the present
rates, growing out of the belief Of most
persons that the present low prices Of Gov
ernment paper is but a combined effort Of
spectators, and cannot continue always.
II we had but an Agent on this coast, from
whom we could get our bonds direct, be-
lieve that with the present collapsed state OF
the mining stocks lin which we have been
accustomed to speculate in former days.,
there are many thousands Of persons who
would invest in them to the whole extent Of
their surplus cash, instead of risking further
in wildcat. Can we not have such an Agent
appointed here, thereby bene6ting both the
Government, by taxing the bonds, and also
ourselves, by investing in stocks on which
there are no assessments, and vet declaring
dividend, as we'll as making ourselves stock
holders in our Government, which every
Union man is DESTROYS Of sustaining. Hop
ing this communication may elicit reply,
remain, very respectfully, INQUIRER.
To the above direct questions we reply:
l. Greenbacks and Eve per cent. interest
Treasury Notes, with and without coupons,
running one, two, and three years.
.. Greenbacks and FIVE per cent. Treasury
Notes are of the same value in San Francis
CO in New York, three and a half per cent.
difference, in currency. Five-twenty Bonds
are about ten per cent premium, IN gold, in
San Francisco, and in New York about
twelve per cent. premium in currency. Ten
forty Bonds are about seven and a half per
cent. premium in San Francisco, and five
per cent. premium in New York.
8. The United States Government Securi
ties are the seven and three-tenths (due on
the 10th inst.,) ive-twenties, seven-forties
and ten-forties, the twenty-year bonds bear
ing interest at six per cent. in coin. The
fve-twenties are nearly or quite all absorbed;
and the seven and three-tenths are being ex-
changed for twenty-year bonds, bearing six
per cent. interest in coin, or redeemed in
lawful money.
1. There are now being issued new batch
OF seven and three-teAths, principal and in
terest, redeemable in currency. The amount
of the present issue We are not able to state.