Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-05-04
Gold ana Produce,

AS general thing the fluctuations OF
gold during the civil war have regulated
the prices of all other commodities. In
October last gold had reached its highest
notch. 1t was in the nineties and close
upon three hundred. At that time, in
Eastern markets, grain, foreign merchan-
aise' and all sorts Of produce ranged at
highest prices. In November the country
caught its first glimpse Of the real weak
ness OF the rebel military power. Sher-
man held Atlanta. had strategically de-
GSoyed Hood to the north bank Of the
tennessee. where Thomas confronted him,
and thus LAID open the cotton States to
tnat grand march which has since become
tne admiration of the world, and through
winch, the far greater generalship which
prepared the way for it, has been over
looked or forgotten BY the multitude. The
ehect OF this discovery was felt instantly
IN the marts Of trade. Gold was two
hundred and fifty in November, two hun
ored and forty in December, two hundred
and thirty in January, two hundred and
twenty in February, and by the first Of
March down to two hundred. by this
time the first glimpse of the rebel weak
ness was a realization; the "shell" that
General Grant had represented the cotton
States to be, was penetrated and smashed
IN on one side; the inside was found to
Of Vacuity, with little or no military
power. Sherman was entering South
Carolina; Hardee and Beauregard were
fleeing before him; Wilmington was
ours. In March things were preparing
and gradually developing in Virginia,
which led to the belief that the "shell /"
must very soon give way in that direc-
ton. and that, by at farthest, the first
OF May, or possibly June, the last
camp of rebellion would surrender in
North Carolina. On the first of March, in
spite of these favorable military prospects,
the money spectators insisted that gold
could not go much below two hundred for
half year. But in spite Of their wishes
and prophecies, by the 25h of March gold
was down to one hundred and fifty :; but
produce Especially provisions) did not
fall in proportion; and that is a trade
phenomenon that is Of easy explanation.
New countries held by the enemy up to
that time were all at once opened to the
meat and breadstuffs, and merchandise OF
the North and West, and the new market
raised prices, especially of provisions. In
March, 1854. when gold was quoted at
one hundred and sixty.six, mess pork
was quoted in the Western cities at $l8
rs; in March Of this year, when gold was
one hundred and fifty, mess pork was 1928
So; the same with -four and grain. The
reason of it is, the opening of the new and
hungry markets of Savannah, Charleston,
Wilmington, etc.
April opened well this year. The grand
triumphs about Richmond, the captures
of that place and Lees army. sent gold
down to 1888. It rested there only for a
day, because right upon the heels Of this
triumph came the assassination of the
President, which again sent gold back tn
the forties. The eccentric conduct Of
Sherman in North Carolina again stag.
gered financial confidence; for moneyed
men said: IF treason is 10 be petted
and restored to vigorous political life all
over the South, while Union men are to
be left unprotected, what guarantee have
we that the Southern States, and possibly
the United States, will not be bound ulti-
mately to pay of the two thousand mil
lions of rebel debit" In that event the
Federal credit is shaken, and its paper
cannot be at par with gold for many years.
"Gold will still be gold" and so Sher-
mans mistake sent it up from lac to 1855
in few days. But in one week more We
had the news that Grant WAS setting every.
thing right again, that Sherman's negotia'
tions were nil, and that treason was to have
no such terms as may endanger the future
Geld comes down again to lac. We see
no reason why it shall not BY the first OIL
June come down to 100, except in the
single possibility Of foreign war. The
rebels last November had 200, 900 soldiers
in the field. Since then they have LOST
$4,000 in Virginia and 100000 elsewhere,
They have no army anywhere east OF tht
Mississippi, disarmed by surrender from
the Chattahoochee to the Potomac. AL
that is left of the rebellion now is the
thirty to forty thousand men in the trans
Mississippi, under Kirby Smith and Price
Outside Of Texas they have no State
Government with them, and they have nc
longer a Confederate Government any
where. Their two great armies are dis
banded without arms, their President is 9
fugitive hiding in the swamps of South
Carolina, their Congress is broken up and
repentant, their Cabinet is scattered anc
running for life from an indignant country
There is no longer any of the spirit of re.
bellion in the South. We shall probably
require Sherman'S army, or Canbv's, tc
attend to Texas; but aside from that the
United States has no employment fol
more than 100000 soldiers. There viii
be. between now and the 4th of July, a,
least 100000 Federal soldiers discharged
unless we should have q grand foreign
war, requiring the invasion Of Canada and
Mexico both. The discharge Of so many
soldiers will bring the costs Of the Gov.
eminent down to cash basis, with the
present revenue law; and whenever thai
point is manifest to moneyed men gold
will be worth no more than Fedora