Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-02-07

ING PANIC-THE GOOD TIME COM
ING.
The world is change. The seas, the
land, central fires, the atmosphere that
surrounds q planet, the ether beyond,
everything, in short, whether within,
above, beneath or around it, is ever
shifting and changing, disintegrpting or
agglomerating, rising or falling, subject
to the chemical and other mysterious
forces which seem to pervade all space,
and which themselves are every vary
ing in degree. Everything is change,
although that itself is governed by the
all-petvading law of compensation. The
man of to-day was the beast, the vege-
table, the fruit, the cereal of yesterday,
and he again becomes resolved back
into as many singular forms. The tides
rise and fall-so do the continents, the
temperatures, the passions. Mountains
are compensated by ~vallies, water by
land, fears by hopes, disappointments
by r~ealizations; and it is right that this
should be. What were men without
women? Were it not for demon shapes
pictured on. the retina of our mental
eyes, even the shining angels would
scarcely seem so brightly beautiful to
human imagination. As with the ma
terial and physical, so with the inmate
rial and mental. We dig gold, melt
and shape it into coins and other arti-
Giles, and attrition and gravitation soon
carry it back to earth again; so that
there is a constant stream of gold COM
ing from and falling back upon the
earth; and even where it "goes up the
chimney"-as it did some years ago in
the San Francisco mint somehow
manages to come down. The remarka-
BILE force known Tbut often ignored by
politicians) as Public Opinion, is just as
unsettled as anything else. One mo-
ment it glorifes a man; another. it
damns him; now it is entirely occupied
with one topic, and presto! it is forgot
ten and there are q dozen on the tdpis.
So with taxation and matters OF finance.
Once our Government securities were
at a premium, now they are at a dis
count, by and by they will 60 to par
for they are very desirable collaterals
for investment, bearing so large an in
terest as they do payable in gold. Once
we boosted Of the lightness Of taxation
in this country ss compared with Great
Britain; now we are more heavily taxed
than is that nation; in due time the
scales will shift again. Once-but that
was q long, long time ago-goods were
imported at q fair valuation and paid
proper duties; and importers could not
buy appraisers; and there was no neces-
sity (such as now %erists) for the APP
pointment of an experienced, unpur-
chaseable Appraiser in Chief to look
into these matters, to the end that Gus
tice be done, though the heavens fall !"
but now, alas I! these things are not so.
Once we had Finance Ministers and Con-
gress wise enough to let the currency
alone, and let it regulate itself like
other merchandise; but now these things
are changed. Once ocean and land tel
egraph, railroad and other monopolies
were in vogue; but now we trust that
day has passed by. Once financial buisi-
ness was constructed upon good, sound
principles; now, no matter where we
look-whether to India, to Buenos
Ayres, to France, to England, or to
America, whether the firm names Over
end, Quincy h Co., Aga, Masterman Il
Co., Peto / CO.. or others. which have
not yet failed-we see banking as well
as other business conducted to a great
extent in an unsafe manner; and so long
as Partisan and other banks Of deposit
continue to do business upon inflated
capitals, or enormously expanded cred
its, so long must business be unsafe.
Thus businesses grow up and fall; repu-
tations are made and lost; stockholders
become suddenly rich, and then poor;
and the very foundations of business are
sapped to the root. However, the money
is still somewhere, in somebody's hands
what is one mans loss being anothers'
gain-and the world, ever changing, is
still the same.
In general business, as well as in that
more especially devoted to finance OPP
erations, this habit-for it has grown
into one-of operating or insufficient
capital, is too much in vogue, and it is
their knowledge Of this that inspires in
the breasts of our business men, at the
present time, that dread of coming panic
which troubles their thoughts night and
day, and makes the money market
eight" But sooner or later the grand
smash must come, and then with les
sons of the immediate past to guide,
business for o time-and only for a
time-will be conducted safely and with
discretion. There have been times, too,
in the history Of this planet, when min
ing was conducted Is a legitimate bust
ness. There have, also, been periods
of excited speculation in mines, and the
present is one of them. By and by, no
doubt, we shall hear more of mine pur-
chases made for the sake of the profits
of mining instead of nero mine stock
speculations Of the buy-to.day sell-to-
morrow sort; Of mining companies with
actual instead of nominal capitals; Of
energetic, capable, sober, economical
mine superintendent and faithful work.
men; Of honest, truthful trustees, and
attentive, well-behaved secretaries; Of
brokers who will cease to combine for
the purpose of'bulling'' and clearing"
stocks, remaining content with the more
moderate and more certain gains Of
legitimate operations, and abjuring all
allegiance to the devil, who is the
Father Of Brokers. 1t is about time for
a change of this description-the sooner
Ala hnttnr N Y .LnnrnnL nf Mininn