The Idaho world. [volume] (Idaho City, Idaho Territory) 1864-1918, 1870-04-14

THE ADVANCE IN GREENBAcKs.
The Idaho Statesman of April I'd contain
an article with the above caption, which W.
must say, generically speaking, is rather of Q
nondescript character. We have searched ID
vain the columns of leading Radical papers
which have, either by accident or design, OF
otherwise, fallen into our possession. aud we
are unable TO see the force and correctness al
the opinions advanced by our worthy contem-
porary other than that, like other Radical de-
voices. as Il proof of party fealty. the decline
in the price of gold aud advance in greenbacks
is ascribed to the wisdom and foresight Of Mr..
Grant and his Cabinet. aud that to them we
are indebted for the near approach of specie
payments and the resumption of Democratic
currency
While we admit that the schemes and work
ings of the bulls aud bears in Wall street. aud
of the gamblers in gold. may, aud undoubtedly
does, have much To do with the fluctuations in
the price OF that commodity, aud that the for
nation Of rings" like that which "ruled the
roost last September, will undoubtedly give
instability To the market price of the standard
of all measures Of value, yet We are unwilling
Ia admit that the real value Of the precious
metal is and will be determined rs claimed BY
our cotemporary. He says:
While In the Eas, gold has been regarded Is a com.
modify OF trade IL has only been in the that
bonds and paper currency have been used as coin.
modiiics. and their values have been aud meas.
ured by the rule. A bonds have advanced gold
nearly touched the ngure tina, hencrforsA their
values win be measured by supply and demand: each
. small per cent. advance lss IsEteu.
lar kind IS required for special uses
We have never yet heard or read the same
financial theory advocated, that the values of
gold and bonds of any kind will be- measured |
BY supply and demand. II We understand the
theory of our friend il Is: that If bonds are
scarce, then the price Of gold declines, and IL
gold is scarce, vice versa This is certainly
very strange position 10 assume. We have nj
ways believed and in fact have never before
heard ii questioned. that gold 10 the standard
Of all values; BY it is gagged the value OF every
productions of the soil and of
The industries OF all countries IL 10 and has
been universally recognized as the standard Of
Talue in nil countries. from time immemorial-
{ being the Royal metal itself: and IL IL simply
absurd. il not ridiculous. 70 assert that hence :
orth the value Of gold and U. s bonds will be
measured BY supply and demand.
No legislation of Rump Congress can ever
hange the actual and real value Of gold It's q
alue is fixed; aud by IL 10 regulated the value
{ oil other commodities Friendly or unfriend.
y legislation has the power and does FIX The
rice or valae Of the securities or evidences of
Indebtedness of any country. among the people a
{ that country and the confidence of parties
ossessed Of gold in the security of their in. Z
estment, and the good faith Of the debtor ia
ecessary in order to secure any value for
Unds coupons, or any other evidences of pub.
C indebtedness While a country in a bank.
upt condition might arbitrarily compel its own
eople to accept bonds or greenbacks at par. 1t
pes not fix the value of such paper currency
= any such enactments, so far az placing any
aiue upon It's UbUus OF otHeT eFluencee OF IN
when offered or thrown upon the II
arket outside Of its jurisdictional authority q
istead Of crediting the present Administra- 10
IN. or even Congress, with the decline in the %
ice of gold. We think our contemporary can d.
row both aside and solve the financial prob. >.
m by turning his attention 10 the trade sta y
'tics. and calculating the value Of the South 81
n cotton crop. which. estimating the crop Of di
st year at 100000 bales, would be equiva. II,
Mt to at least $3.50. OOO. O00 the largest portion
which being exported connterbalances the 70
me amount Of imports, with the difference Of IN
change to be added in favor Of the American 10
porter, as on account of our heavy importa- n,
IN the balance or par Of exchange IL against
9 United States The closer the exports M. hu
oximate in the aggregate to the value of our in
lports the less premium the American ex. tn
rtcr will have to pay for foreign exchange, n,
ID when the balance Of trade Ia in our favor "
reign exchange will necessarily be at dis. I'M
unit. and conrrso in Europe, exchange on tic
nerica be worth premium. W.
RADICAL NOMINATION. - Before going TO w
ess last evening we met our friend II. q. ="
a -.