Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1868-08-08
FINANCIAL AND COMMERCIAL.
WEDNESDAY, EVENING, August 5.


The price of Gold in New York has
advanced to l47A to-dayiSterling, ll0s;
Steamship, lOl; Quicksilver, 90; Legal
Tenders, 69@69S. There were sales 1t
the Board at 6s4, seller 80; $780, 900 and
$4,000 at GO, buyer 5.
The Stock market opened with some
greater degree Of firmness this morning.
The telegram from the Imperial report
ed that, in e~xcavating n place for the
windlass in the south drift Of the 700
feet level, by which u winze to connect
with the 9O0-feet level is to be opened,
q body Of good ore was discovered. 1t
| will require two days to determine the
extent. A remittance Of S36,l7G bull
lion was made. The Oyerman letter
states the "ore is improving in quality
on the 3Gl-feet level; both mills sup
| piled" In the fifteenth floor Of the Blue
| Wing station the orc is improving in
quality; samples takcu this day pay Se5
per ton. At the l,l00 station, north
east drift, n q OF clay containing
barren quartz covers the face Of the
drift. The southeast drift has very
hard rock; the 1000 level has clay,
porphyry, and some quartz. Bullion
shipped, S23,344 80. The receipts for
July aggregate Ss6,029 81. Hale &
Norcross opened in the morning at S74,
and then was active, running up to SSl;
it closed at S77}-S6 higher than yes
terday. OF the sales Of Hale l. Nor
cross to-day, 93s were about cash, 4s5
buyer 80, and 1870 seller 30. Yellow
Jacket was very strong, rising to 81 1910,
and closing at 81 ,05O-or SIS higher
than yesterday. Gould & Curry was
So higher; Chollar, So; Alpha, So. I'm
perial rose to SIZE, and closed at Sllo
SO higher than yesterday; Crown
Point, 81; Ovcrman, 81; Exchcquer, So;
Kentuck, SO.
The shipment Of Treasure to New York
to-day by the n. A. s. S. Co.'s steamer
Nevada embraced S3G, 554 % gold bars;
Sl7s,44 4 II silver bars ; total, S2l5,-
900. Total since January lst, So, 24s,-
SOB Is. She also had $500, O0o coin or
Treasury account.
The advance Of gold at the East con-
tinues strong, and the rate is now l47!.
Congress has recently refused to enforce
the specie contract clause, but the Gle
ments are in motion now that may prove
to be stronger than Congress. The
eternal principles Of right will always
yindicate themselves. The reduction Of
gold in the Treasury from 500, oo0, 900,
June LIST, to S37 900, 900 at the close Of
July-a sum smaller than ever before
rince the issue Of paper money-is a
pointed admonition that the course Of
trade is falling back into its old chan
nels, and that it will becomeimpossibleto
collect gold enough from duties to pay
the interest on the National debt. The
gold interest on the National debt per
annum is now Sl25, 900, 900, all of which
is derived from custom duties, which
have been very large during the past
three years, consequent upon the effect
Of paper money, and the languishment
of home manufactures under the weight
Of internal taxes.
The revenues from Customs never
reached 60 millions until 1863, in the
midst of the war. The average for the
Ave years was 80 millions. In the last
FIVE years the average has been 40 mil
lions-an average Of so per cent. tax
upon imports, against 20 per cent. for
the previous five years. The duties are
now declining, and with n return to the
old level may be expected to leave a de-
ficit Of at least $40, 900 900 per annum
in the amount due for interest. In
other words, the Secretary will be COM
PEELED, every quarter day, to come into
the market and buy from . to 10 mill
lions of gold with which to meet his in
terest-a situation which will leave him
entirely at the mercy Of spectators,
who will be always ready to run the
price Of gold up on him. His only de-
tense will be II return to specie pay
ments, thus exacting all taxes in gold.
IS. +. Alta.
The Bulletin of Thursday evening
says:
Mining stocks continue quiet, and
prices, for the most part, are a little off.
At the Board this morning, Crown
Point, 0phir and Segregated Belcher
closed the same as yesterday. There
were no sales of Belcber, Confidence,
E%xchcquer, Gold Hill Quartz Mill, North
Star or Sierra Nevada. Yellow Jacket
still maintains an upward tendency,
closing ut Sl,045. North Star was Of
fered in 5 and 10 share lots at S94, with
sos bid for 2 shares. Cole closed at
S25 and Lady Bryan at Sl4. From the
Morning Board yesterday, Yellow Jack.
ct advanced S25, Kcntuck S., Alpha
50 and Bullion 81. Hale i Norcross
declined Sc, Empire Mill and Imperial
each SIS, Chollar-Potosi 50, Amndor
81 so, Gould & Curry, 0vernun and