Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-02-28

"etaIIc VS. HdPCE NAOHCy'
1t is an acknowledged axiom that labor
is the source of all wealth, and that policy
which best protects it is the best policy.
The lnborer now receives for his toll
stated sum in god coin, and at the end Of
each week he knows exactly what that is
in value. But suppose we change to
paper currency, and he receives his six,
seven or eight dollars per day, in Legal
Tenders-and that is moving from 35c to
SIC, as it has been for the past year-will
he receive his additional amount, if de-
probation takes place? No! And will
there not be q deduction should there be q
rise; Yes! Everything then is in favor
of the monied man and against the laborer.
We are promised that there is to be no
more issues of Legal Tenders. If such as
the case our adoption Of them is of no benefit
to the Goue,7,n,ent-not farthing. Our
retention of our coin currency is positive
benefit to ourselves, and why should we
not retain it We have seen our worst
days, and now when we are on the up
ward wave under the specie basis, it is
the hight of folly to abandon it. l have
no doubt but the time will be when we
will have National Banks; but it will be
after there is q material change in the
present system, and after resumption of
specie payments, which can not be until
the present currency is reduced by some
800, 100000.
The Eastern States have inaugurated
this imitation of currency, and they must
stand the blunt Of the error. The Pacific
States have gone on in an even tenor, and
will receive their reward for so doing. If
we have those among us who especially
desire to trade in Legal Tender CURRENCY,
it is an easy matter to do so. No one
refuses them at their value. But some
say we can get more capital. How do
we get it, Don't we have to buy it :
Can you make greenbacks Is not the
coin we buy them with as much capital as
that which is bought? We ask for no
law to prevent the exchange of Legal Ten
ders; but we do ask for a law, that if a
man Works for {, ceft4in sum per day, in
gold, he is to bepsi4in gold; and if q
man loans gold, he is not to be paid in
Legal Tenders at par. In other words,
that men should be made to do as they
agree. Before we became State. in every
convention, and afterwards, when our pre-
sent legislators were candidates before the
people, it was the solemn declaration, that
there should be q Specific Contract Law,
and repeal of that law would be VIOLA
ton objectionable, and should be remem-
bered in all future campaigns. To think
that the repeal of the Specific Contract
law would change our currency is certain
ly an error. No matter what laws we
make, while California holds to her metallic
currency we must do the same. When
she changes we must-whether we like it
or not. The harm repeal of the Act
would door good, il our worthy Legis-
lature should so construe it-would be to
let men. pay honest gold-debts in Legal
Tenders. This might be very high toned
and honorable course for Legislature to
pursue towards the Bank of California,
who came here and threw out in good
faith, on the strength of this Act, $500, 900
in gold, to relieve the wants of our COM
munity some of which moneys they even
| advanced the State. I can not believe
that men can stand in that Legislature, in
view of all these things, and pass a law,
by a repeal Of the Specific Contract, which
in effect is legitimate swindling.
The working of our mines is vital
matter to hundreds of men in our midst.
Gradually they were beginning to revive
as we all see by the increased value of
stocks; trade was enlivening; and now
comes in the currency question again, to
give US back-set. 1t is question that
should be met at once and, definately
settled, if not by the Legislature then by
the people. CosMos.