Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-03-05
THE GOLD BILL

winters passage, which were forced
through the Legislature under the
allegation that millions Of greenbacks
were to come to Nevada on the next
breeze after the Governor approved such
legal tender statutes. We know that
the popular hope and expectation,
founded on a State adoption Of a green
back currency, has proved ~fallacious.
According to the ciphering which has
been exhibited to us by a careful finan-
cial expert, the State lost not less than
$3.50, 900 last year, in gold, on account
Of the adoption of greenbacks as the
State currency. Property was, on the
average, assessed at about the same rate
in legal tender notes that it had been
the year previous in com; and hence the
immense depreciation, at a State vaiua-
ton. 1t appears conclusively, from the
authentic source already referred 10, that
on a return to a coin basis, the State will
ave more on her State Prison and Con-
tingent Expenditures than will make up
the difference hereafter in the salary OF
all her State officers. The Capitatiou
tax is now paid in currency, though
collected in Gold; and stamps are sold
for greenbacks by the State to private
parties who dispose Of them for coin.
The net proceeds from these two sources
above, will suffice to pay salaries OF
State officers proper; and it is a matter
of indiference-must be so-whether
those revenues are in coin or currency;
except consideration be had on the fact
that at present the States license Is
~speculated upon to just the proht a
gin between paper and coin money for
capitation and stamps. 1t is claimed
that not less than $4,000, in coin, clear
advantage would result to the State
from q return to a hard money basis;
and $50, 900 in coin is set down as the
sure profit Of such a change, in 1868.
This is without calculating on an en-
HANGED value Of property over the figure
amount of 80; only, for "currency'
read "coin."
A strong argument for the change is
certainly presented in the fact that for
the present We can only levy one and
one-quarter taxes in all. If this is re-
quired absolutely in coin, then it is
evident a currency tax of such figure
will be wholly inadequate. Coin or pa
per, the figure, "one and one-quarter,'
| for both State and Territorial indebted
ness, cannot be exceeded.
We notice that in a report made in
the early part of the session from the
| Senate Committee of Ways and Means,
| all their calculations are announced as
| having been made on a coin basis.
| They seem to have once come to the
conclusion that on no other platform
could the "faith and credit" Of the
| State abide. Tho State Controller, in
very forcible language, which we have
heretofore quoted at length, pronounces
the utter impossibility of carrying on
the State government on any other than
that plane. The change made last year
is, by this officer, denominated "suici-
Dial :" and all his following figures,
tables and summings-are appealed to,
in support of the assertion.
Aletter from State Treasurer Rhoades,
now at San Francisco, to the Senate
Committee of Ways and Means, contains
| the statement hat it was very difficult
to effect q loan there, for the State, on
account of the anti-Specifc Contract
decision. Mr.. Ralston is reported as
bluntly saying: "we have no conf
dence in your Supreme Court; many
| business men here have been ruined by
its decision on the currency question"
| Now il has come to our ears on very
good authority, that their Honors are
very sick of their s~nti-Speci6c Contract
decision, and if they could by any de-
cent method they would crawl around
il. But a candid reversal Of their dis
astrous decree cannot, probably, be ex-
pected from the present bench, however
clearly they may see the error of their
| opinions. II seems to US that the Legis-
lature would do well to pass Sum-
ner's Bill providing for the election,
within ninety days, of two additional
Judges, by whom the Contract decision
could with Judge Lewis, be reversed.
At first blush Summers proposition
did not strike US favorably; but from
what we have recently heard from San
Francisco, and concerning the DISPOSE
ton of the present Bench-which is il
Illustrative Of the Importance as we'll as
propriety of a reversal-we are inclined
to favor and urge it. 1t is claimed, cor
rectly no doubt, that the Gold Bill does
not conflict with the present decision;
but pass it and at the same time secure
a reversal of the anti-specifc contract
decision, and we have "swung round
the circle" TO a coin and common sense
commercial basis.
A POPULAR DANISH SroRY.-In the
village of Ebberup, in Fumen, lived q
q very wealthy farmer, who had gone
one day to Assens with a load Of bar
ley; so one of his neighbors, a cottager,
asked leave to 60 along with him for
the sake of fetching home goods in the
empty cart. The farmer had no oolec-
ton, so the cottsger followed the cart
- go "a a. n was a very hot day.