Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-05-28

Gold is higher than it has been in seven or
eight months past. The fall in price which fol-
lowed Grants accession to the Presidency and
the declaration Of the financial policy of his adj
ministraton, and by which many were eucoura-
gel to hope that the day Of par values and specie
payments was not to be very long delayed, ll~
not been maintlined Gold will not stly down
The rise within a few weeks past is fully twelve
per cent This is plainly not due TO lack of con-
hience IN the future solyeucy of tue C. $ Urea
sury, for L. ; bonds g up With gold, and are
higher now than ever before. There is as much
gli ia the country as there has been. Two or
three hundred millions Of gold have been sent
South in payment for cotton ana other crops.
AMI it Is held On to desperately there, as am
unGuiing standard Of value. aud as a resource 10
the prevailing scarcity Of currency in that Sec
ton but knowledge Of that fact has been reach
Ell by no sudden disclosure and there is not
enough of it, anyhow.t TO explain the great ri~e Of
the past month. Il is true also that the ship
meuts Of L 5 bonds to Europe are approaching
a limit. in the small amount o. them remaining
within the reach of foreign bankers, and thar
when the bonds are no longer to be had, gold
must 2, abroad in payment Of our constant in
debtncSs for importations Of goods But that
circumstance, also, has not come suddenly into
view, and while it might explain "a gradual stiff
fleming q gid can hardly account for jumps Of
i've or SIX per cent week.
OF course many attribute She rise 10 Mr. Bout
wells purchase of bonds for the sinking fund
n that is the latest Infinitely announced financial
ue.sars Of the Treasury department But We
notice that the men and papers which 10 SO are
mainly those that have had uo confidence in NJ
Boutwell, from the start, and were anxious ard
eager for an occasion to find fault with his man
agrm, ut 1t is certainly not very easy TO see
,rAy the placing Of million Of dollars ia gold
upon the market, aud the ies>cning Of the inter
81 bearing debt Of the country by 40 e4usl
uni, weekiy, should raise the price of gold.
1t seems toerabIy plain that the explanation
Of the mystery Is The old and simple one-splc-
u!afion. Gold goes up because Wall street spec
ujstors choose to have it. We heard two or three
weeks since that a powerful bull combination
on golf had commenced operations and that
they declared they meant to carry the price MP
to $50 and it is nov certainly pretty well ou It's
way up TO that figure.
There is no reason why the rise ia gold should
distress or alarm people generally. It undoutt-
edly distresses some Of the stock-gambers, as it
enriches others. 1t has broken some and VIII
break others Let them fail The country is
none the poorer for their disasters The ele-
ments of general prosperity and comfort are
abundant. Labor brings high wages the cost
Of breadstufs and provisions is less than in a
long time, making living cheaper than hereto
fore for the consumers; while the prospect Of
abundant crops promises ample returns 10 pro
ducers. The country is At peace Almost every
body North and South, black and white, is at
work. immigration brings constant and in
creasing supplies Of labor, which is wealth, to
cur shores. New avenues Of commerce and
trade are opening The outlook is a cheerful
one in every direction, and the mass Of our
citizens can rest at ease, whether gold is high
lou