, 1870-02-25
AND COMMERCIAL


The great feature N nuanccs to-day WAS the
coptlEued decline IN gold, which. during lhe
pas, NE Gays. from tae h'ghcn prleo Nsohl, Oh
last Saturday, to the loves: quo:elton, 10 day
tll6as, has been sA per cent. While ths.decline
Is qulte within the Ordinary 1aose OF nacsuauons
IN the prices Of god that veto frequently c1uscd
BY speculative Operations last year, the present
decline u far more aIsn,n:1nt than any such
chspge In its pr:ce would have been q year ago,
from the fact that (ot the last three months the
great eroyt Of the specuatora haa been to put the
price Of god up, ano, though thcfo Nese but few
"pears" in the New YORK market, It wHs found
Impossible 10 DO 10 Even with the I'D OF the
New York importing merchants who bou9ht--and
now want 70 ae.l-8ood4 on 4 basis OF gold It 1s-
and even viii the MD OF the buneomne resolutions
Of Congress shout tntattng the currency, Il waa
found impossible to make the price OF gold ae-
vance. This Anoxs that new causes arc At WORK;
..has The accuI1ulAttng losd or Idle gold Ia too
hessv. arm IL. , ~, .,,ce Is no longer complete;
In tho control OF thu &:,2al!us fraternity Of WAl
and Broad streets ~ formerly. We gave IN Tus
TRiBrNB Of yesterday the cautes, ana tneH opera-
tiop which have brought about this ocs ahe IN lug
price Of guild, aud hhoNed that though the nas asufs
reaction, which always folloWs any great change In
prices u likely 70 CAUSE pa1tinl up ward resctIon
In the prizes Of gold, It viii probably
be bat temporary, and that, notHlthstsnd'". dac-
t.eS " ~. .".t .us HS@ete' <eoueu1J Va
'ne pt'ee " so'o wiA 90 ao"o~sso uatu tne:e Is
afe'l7a@ Of active c4pafta OF gold, aud THIS can.
xot Occur uutu the e1pottahlo pius Of last
ytafa cropa OF cosfon and other products has
1eea heas Aoto@a. 1ae1eh se11 general maa-
taken tdea that "gold Is the chespest commodity
u tnls county, Tne PROOF taatt Is mistake, u,
taat eolo not exported, as Il xoald be II It we're
casApe1 neta LED IN osnes eoantsles< 9o'd 10 no.
coneuWeo, Ike o9aer commod!ues1 anu tH Va!ne
neceasa1ty remains tbs aane In al counhiea On
ne osnes nand, the oount1tol crops OF laat yes~
les u large tutplus, Nh1ch "a wotta notn'nT
except It u exported. buL at tbs saue time, We
aie Producing gold from the mines At the rate OF
1fJ or sixty millions Pc yea1. A. oor gold pro-
duct can oe Kept without dePtec!4tsng In yAlo-,
WhAe or cotton and bfesdstuds are OF no gnlas
Until Sfey are brought to the consuuerb, It ueca
sartIJ oahgea the export Of the latter inssead OF
the gold. But Rs tho lasEet accum1lates3 caplssl
becomes locked M In Il and III order to mste suy
portion Of nj. eap1ts, sy,Es lie In rrnde tne oIa
must asst b converted Into tas executive paper
currency now In ME, This c1cstes 4 tacNtlous
necessity Iof tha lat,ar. ard No praenhscta ara
are ho.s;ered no upou tbs sccuupiauon or eold
IN the country (which, IN the Slater esss Of the
MIsslssppj, uow PROBABLY amounts to betEeen
s1.n,Wao0o and fao5. .oco. .0oo,, Il snon1d
cot however, BE- assumed thas re
might rescn permanent spec.e payments by this
process, Gold might 20 to par frum tfese cau5es,
and let the government h.ys no nore eo1d vim
which To redeem ia rreanbsrtr rnan IL nsd 1,R.