The independent. [volume] (Oskaloosa, Kan.) 1860-1874, 1865-04-08
Saturday, April s. 1865.
Gold Gambling.


Gold Gambling.
The speculation in gold has been one
Of de heaviest eursss to the country
during ths var. 1t has caused the in
dsbtedness of the nation to be fully
twice ~ great rs il otherwise would
have b6en. and has inflated every thing
% enormously that callapse can hard
ly hil to be the consequences. This
speculation has sometimes been called
the war barometer but it is really the
seqmbirv Jeuer, to-day hot. to morrow
less furious. with strong symptoms, re-
Gently. of q chill.
The rise in gold has at no time been
caused by legitimate demand for the
coin Had the Law Of trade. supply
and damand. ruled the market, gold
never would have advanced over 10 or
Is per cent. But the gamblers, with
s:roug rebel synpa,hies to urge them
on. saw . chance 10 make money and
cripple the government, at the same time,
and thsy plunged into the strife and
carried it on madly. Pre,exts were
seized upon Is excuses for putting the
per cent up on gold, when there was
no demand for,the article and no one in
The market purchasing. except to specu-
late IN it.
But, after al. the gold gamblers new
Or would have placed gold over SO per
cent. had it not been for the combina.
sion with them Of the leading merchants
and holders Of stocks. goods etc. These,
like the gamblers. saw chance to make
money By raising the price of goods.
wares. &C.. and they united with the
gold gamblers in the snholy work Of
-'Daking haste to be rich" at the ex-
penss of the country and the poor. So
the people have the gold gamblers and
goods gamblers to thank for the high
prices Of food. clothing and ell the
etceteras Of life. This unhoIy alliance
has worked immense evils, and worse
ones, we fear, are to follow. How
prices are to let down without pan:cs
snd bankruptcies is more than We can
see. Men can easily stand rise of IS.
or so OF 100 per cent. ON their goods
and smila at fha mex that enchancss
their wealth or doubles the value of
their possessions; but when it comes the
other way. and IS. SO or 100 per cent.
is iaken from their stocks. they mast
fail unless established upon very solid
basis.
Here again. however. combination
may ease lbe fall to some extent, but it
cannot prevent it entirely. As He said.
it is easy to be lifted up, bat when the
props are taken away. and the fall
comes. it is not so easy to steady the
scent. In the upward movement. in
this matter. NO effort was required. A
man only had to cit still and be carried
along. Bat the descent requires every
energy put forth and all the skill that
can be wustsred.t to prevent rapid and
fatal result.
In the advance. all the thing needed
vas. that the gamblers shoald NEE; and
cay: Things shall go up ten per cent
to day" and up they vent. In their
circle all we're smiles; the burden only
Ell upon the great body Of the people.
and if their groans we're beird at all.
tksy we're unheeded. But the gamblers
meet and say: 1--WE shall have 10 put
,i.ings down ten per cent. to-day" aud
n, once dozen Of the formerly smiling
phizes look dismally blank. .and as many
voices cry out: 'You viii ruin US if
you do" The demand, however, is
imperative. and down goes the market
ten cents. This time the groans come
from the gamblers. and they are terrible;
they are heard; they would be needed.
and are ss Car as possible; but the mex
cradle Law of necessity is upon the un-
holy aIlisnee. and they are forced to
yield.
The result is men fail ia business,
goods are thrown upon the market;
prices are unsettled. lerchsnts with
stocks on hand resort to unusual devices
70 ce. sid of Them before further de-
cline: ,ie market is glut,sd; consumers.
unless 10 great Straits, wait for still
lover D. ices. Sales fall of. This tends
to increase the uneasinsss Of holders Of
poods, and to still greaiers efforts TO
eject sa!e.; ali leading towards a patio.
And what is the remedy ? There Is
none. In going up the gamblers had
It all in their ows hands; 10 coming