Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-01-30
THAT PROBLEM.

able length IN yesterdays
problem which it seeks to solve IS "ne'n',
there realzv is, as stated in the commercial |.
nanp,. :, the Bay, a superabundance OF
csn;,.l N San Francisco lying idle ana
-. g, inves,ment. The Union doubts
.,-~~;s,ance of that surplus capital, and
= =. .rpumen. displays much ingenuity
I'D ability, but We Opine that it errs as to
~. facts. The tide of capital which at
one time flowed so strongly from San
Francisco to Washoe, has ceased; and
from that fact our contemporary deduces
the conclusion that the fountain-head is
dry. We shall, in the present article, diff
fer from our neighbor, and assume that
the fountain is not dry, but that 1t Is
damned up, and is in danger of being
ultimately diverted into another channel
If, as we shall suppose, the capital is still
in San Francisco, and is accommodating
there idly and wastefully, instead of How
ing into this State, where zee can so plainly
see such desirable fields for its investment,
wha. is the cause: We perceive, in our
mines, the existence of boundless wealth,
requiring only the judicious expenditure
of capital to render them remunerative be-
vond calculation. We see and record
daily the enormous yield of those mines
which have been developed, and the jour-
mails at the Bay daily record the receipt OF
those amounts of treasure. Not only are
these accounts read by the capitalists of
San Francisco, but the huge heaps OF gilt
tering bullion are daily piled before their
eyes. We cannot suppose for one moment
that with these daily and constantly in
creasing evidences before their eyes, the
outside world disbelieye in the wealth OF
the silver mines of Nevada. No, it is not
confidence in the mineral wealth of Ne
vada that is destroyed, it is confidence IN
the moral integrity Of the people that is shat
tered. The journalists CT the Territory
and State of Nevada have been compelled
by the iron hand of memorable fact to
write q record of fraud, corruption and
crime, which has struck terror to the
hearts of capitalists everywhere. 1t has
been the fact, admitted and chronicled by
US all, for it was past denial, that the pur-
chase of mining interest in Washoe was
to purchase lawsuit" We have re-
corded also, forced to the act by facts pat
emit to all, that litigation here was only
another name for perjury, bribery, corrup-
ton and shameless robbery. We told the
story with shame and sorrow, but We told
it because it was the truth, and we shouted
it aloud, that the people might awaken in
their might, and, overthrowing the wrong,
inaugurate better state of things. That
our voices were heard and that the effort
was made. we know; that the retorma-
ton has been accomplished, we hope and
firmly believe. We feel confidence in
the purity of our courts and in the impair
tial administration of justice; but that
confidence has not yet extended beyond
our own borders. Those at dis
lance wait for "good works" This is one
of the distractions which have damned up
the stream. There is another. Our coun-
ties, cities and towns have issued their
bonds, for the punctual payment of which
the faith of the people was solemnly
pledged. Relying upon that faith, foreign
capitalists have purchased these bonds.
The faith has been broken, and the bonds
are unpaid-we have even failed to meet
the interest when DUE. Our bond-holders
ask for their money, and they are offered
other bonds. We issued Territorial war
rants, and when the funds accumulated in
the Treasury they were otherwise APP
propriated," and the holders of warrants
are offered-bonds. We utterly fail to
fulfil any contrac. that we may make as
people, and so doing what is the market
value of 1.-THE faith of the people of Ne
vada:" We have emerged from the con-
dition of Territory TO that of State.
The embodiment, the representative, the
personality of the State is its Legislature.
That Legislature is now in session more
than half of its constitutional term Of sit
ting has expired; the record of its acts
words and deeds has been given to the
world. That record gives clear insight
into the character of the body which rep
resents the State. That character is the
endorsement which our bonds bear in the
money market of San Francisco. That
character gives its impress to the charac-
ter of the people of Nevada as people.
Are the people proud of it, and does it
give them the cheek to walk into a foreign
Bourse and ask for credit on "the faith of
the people of Nevada" Perhaps. That
the money-lenders don't see it, is no great
cauke Tor marvel. We may view with
pride aud joy, the talent, the purity, the
sagacity, and the pure disinterested pat
riosism of those who represent US, but at
the long distance of Montgomery street, it
is invisible to the naked eye of the banker.
He "don't see it." and he dams the
stream of coin. Thus far have we CIPHER
ed upon the problem of the Union, and to
its further and complete solution, we
shall devote future time and space.
Correct Views.
The following sentiments, expressed by
the Nevada Transcripts, on the subject OF
the late peace rumors, come up to our
;daaa oxanflv