Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-03-12
Decline in the Gold Premium.

ttrom the National lntelligencer, March 1911
The gold premium has declined to about thirty
three per cent. and is likely to fall as it did last
spring, to thirty or lower. The Secretary of the
Treasury is reported to have said that he could easily
further decline; but the fall during the last
week, was without and exercise of his power over
market. No gold has been sold by the Treasury for
week past, though, during the previous week, the
sum OF twelve millions put into the market.
The Treasury still commands large amount of gold
Money is so abundant in the commercial centres
that speculation fourishes though regular business
IS at stand. Speculation in the city of New York
estate ut advancing prices, the auction sales amount
ing to quarter of a million of dollars day. This
shows not only the abundance of money. but the
want of employment for it in any regular business
Many persons marvel at the fact that the prices oI
living are still maintained at the same rate which
prevailed when gold was 200: An actual scarcity Of
commodities caused by diminished production and
suddenly Increasing consumption, has been and still
IS among the causes of high prices, well as the
dundancy OF paper currency. But prices tend down
wards, and must decline very sensbly, even without
any reference to the success of any scheme of con-
traction Hundreds of thousands of men. lately in
duccrs, and besides these the vast current of imn
grafton brings daily accessons to our means of pro-
Dry, goods. both foreign and domestic, have fallen
heavllyIwholeSale prices have declined 25 per cent.
during the past week The Southern demand for
goods, which was so brisk during few months fol-
lowing the close OF the war, has subsidized and the
supply has exceeded the means of payment The
ouutH mas nearly exhausted the resources which
mained to it, after the war; in cotton tobacco naval
stores etc. and the prospect of production for 1866
Is far from being good.
Some business men anticipate general decline of
prices, and consequence of it, contraction Of
5ank loans which will fall with severity upon hank
deDtors; Banks generally increasing instead Of
diminishing their loans. The loan line of the Nav
YORK city banks before the war was hundred and
twenty millions, and it is two hundred and forty
milons. though legitimate business is falling off
when the banks shall, from prudential reasons con-
tract their loan line, everything upon which these
loans are based VIII suffer great decline in price
FoRNEY.D d. D., finds that he started too fast To
"TyleriZe" Andy johnson. Andy don't Tylcrize
much; and the D. D. begins to quack little in another
key, At first the Washington Chrcnicle told us that
the President had gone to the devil and the dogs en-
tirely. lie was Copperhead traitor; he was the be-
trayer of patriots. But the President has NOT nj.
lowed himself to be awed by the vile noise, So
Form thinks if the President won't shift his grnund
he must do it himself So Forney says in his CHronic
of the 9Th of March. that the Copperheads will find
it uphill work to operate with Andrew johnson
for
I'm the first place they will surely disgust the Pres
ident. He will soon see the sinister eyes of the de-
ceiyer through the miserable mask of the processing
frendhe will feel the hand OF steel under the silker
glove Of the smooth preteDder."
He WILL eh Then what fool you were to say th,
President himself had been wearing q miserable
ifssE; and had Sinister eyes. and had one of thes
steel things in silk glove l-Cia. Com.