Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-09-01
Commorctal,

From the S. +. Alta Of Wednesday,
The quotation for Gold came through
to-day at IA on the 26th, with some i'm
provement in Sterling Exchange. There
were very few transactions IN Legal
Tender. and the range was 1904.
The Stock market was generally dull.
The interest awaits further development
at the mines. There is very little doubt,
however, that the production OF bullion
in the aggregate will 70 on to increase,
under the influence Of improved ma
chinery, more concentrated efforts, and the
s~tricter application Of practical science to
the reduction Of ores. It is no doubt the
case, as remarked by the interior journals,
that a great deal Of the disappointment
and loss in mining results from the fact
that samples of ores sent to scientific
assayers yield up all the metals, while the
same ores subjected to the indiscrinina-
ting process Of unreasoning employees OF
corporate companies lose in tailingsa large
portion Of that which more careful opera
tors would secure.
The stocks of goods are running low.
There sailed only W vessels from New
| York in the month Of July. In August,
however, sailed the new, tirst-claSS ocean
| steamer Montana, to which we alluded
Yesterday. and which is intended expressly
for business on the Pacific coast. This
steamer is the first ever loaded with a full
cargo of assorted merchandise direct to
San Francisco. and completed her cargo
at rates somewhat under those charged by
the Panama route. she is expected to
make the run out in about 10 days, and
nav be looked for October 26th, with q
comparatively fresh cargo. The fall sea-
son for business should now set in for the
North. The demand for Butter to day
was good at steady rates-33@35c. There
were sales of Knapp's Candles and Kings
ford's Starch. Coal Oil is well concen-
,rated, and, with light supplies, an ad-
vance was established BY a sale Of 5000
gallons at 81 80.
A very interesting question which is to
come before the coming Congress is that
of taxation. There is undoubtedly but
one opinion among the people at large in
relation TO the fact that revenue must
be raised by taxation to meet the interest
upon the public debt and the expenses Of
the Government. The amount Of inter-
est to be paid will be ascertained when
the debt Is adjusted. and the expenses Of
the Government will be fixed when the
regular peac~e-footing is restored. How
much there will be cannot now be approx
mated. We only know that the aggre-
gate will be large. The single question
that will then present itself is, At what
rate can taxes be levied 90 as to give the
greatest amount Of revenue with the least
disturbance to trade or oppression to in
dus,ry. This is a very grave problem, to
which the intellects Of the greatest states
men of Europe have In the last half-cen-
tury been earnestly directed. The .itua-
ton of the country Is. now altogether too
grave to allow of any collateral interests
to fasten themselves upon the Treasury in
the hope Of furthering individual or Sec
tional profits at the expense OF the nation.
1t is very obvious that if taxes are too high
upon any article, 1t will either fall into
disuse or the tax be evaded. and the Gov
eminent lose its revenue. This is the case
with whisky. The article before the war
sold at 20 cents per gallon. It is now
taxed 90. The result is, that the amount
Of revenue, which was to have been $780,.
100000 from January to July, was only
4, 900, 900. Over an extent OF country
like ours it is impossible to prevent snug
Cling, without an expenditure that will
use up the revenues derived. II taxes are
100 low, the Governm Mt will likewise
lose. The point is to hit such a rate upon
all articles as will give the greatest reve.
nue. at the least outlay to the Government.
In view of this evident necessity, dealers
in most articles look forward to important
changes in the taxes, and these impress
sions have a great influence upon bust
ness, and tend to promote a rise in gold.