, 1870-03-04

TIE GOLD BASIS,


,-,or,,.e,,
-..sD.. - w.. s-s A' se-.st =.
iue ule4t taN9 wv nuA9 "uea Sae
ues'AAo - so'u - sas .su'us ~ a44 tuo opesa- :,
slo.a - oae'uoss Auo"s Nv" nnp'1'on' II
Is tnas meseaaH1s' bankers, and husluess
11en feaefany Should abandon the hcti-
nous, noesaasing, and deceptive B7eenbaek
stahosfa, ana es eoon as possible take an
Inventory Of their ASSETS and obligations On
gold hasss. MANY, tortonately, have al
1ead. done So The confusion and doubt
which ovethang commercial affairs are due
largely to mental habit Of regarding
E7eenoacss as OF Interchangeable value ana
gold Is nuctnas1ug. Even after We baFe Eat
lshed ourselves that, IN tho long run, gold
Is s,aaonasy sud greenbaefs noctnastng'
yer SO many BUSINESS men around us BUY
ana sea According to the appearance and
no, tee fea''ss' oeheF'ng thas gold 11ses
.no lnAs ana efeenoacks are stationary,
.nl7 oeioslon on tneir part answers some Ct
tae purposes OF tact, and IN dealing With
'nem 1t IS INC same as II tho true we're false
aou 'ne 1e1se Tefo true Though 1t Is true
that gold IS stationary, yet it is equally
tue tnAs Largo portion OF the people
cannot practically apply this fAcl
IN thelf business, nnd the shrewdest cau
cn4S 60 SO very 1mpefiectiy- We are like
o@n ssA''ne ~ 1a4.oon' "no Ano*S' ~
.Ho 1As1ns o1 4s4og u LUG tnescuty ID tno
tne' '''one'et' "ae sne naaoou ia oesc'oo'
i1e OF a'cenolns' oo'' ne tfus'ea 70 nlS
personal eonse'oosness a1o oosefFa'ioa' 1e
"oola pe''e'o 'oe oa"oon was s'"'onass
and tne eattn underneasn MN was reeealng
OF nppfoaec1ne' 1specaa"5 %oulo lne ap'
parent motion eonees' Inc rea one Il Inc as
atooao, ne9eaen, ano o3elaeau were nu1ea
S''n oa4looos, all flstns OF iaa1ng az nearly
tEe same rates
Every account every statement OF apnce,
avery ehnE-nl'' eheek' ana no1e' are now
nneertaln 9uantlaes. Au bsus chat . IN
7Ases between Inc une they are made out
hna he u1ae tney are paid, II It
Is bnt Ell 3 day. A paN oi shoes
may rise OF fau IN value while lady
Is trying them On. IRE g1eeubaeS dollar
With which you pay for dinner
gains OF loses a cent or Two while you are
a'nlns. No human mind can follow such
fluctuations in detail !; but the shrewdest can
anticipate them generally with such accuracy
., tonake profit ont Of them. Their degree
and effect are different On different kinds o.
property, and 1t Is all-important to under
stand, IS far as possible, the nature OF this
difference, since trade aud speculation now
coEslst manly IN the cunning preylpg upon
md Pl0nde11ng the simple, through their
superiority IN juggling with our iEedeema-
bic currency. The degree In which the rise
and fall of gold changes the price Of other
commodities is somewhat Is follows, begin
ming with ttose most affected:
]. Imports, OF goods liable to imposta-
ton.
.. Exports, orgoods liable to expectation,
Including stocks and bonds.
;. Domestic products, in the order Of
their e1changeabl,ity or salableuess.
4. Rents Of buildinge used for CONNER
ciRl and business purposes.
i. Rents ct residence property.
1. Labor, wages, aud sala,ies,
:. ReL estate.
In proportion ss the quotation prics il
promptly changed the change in nctual val
ues is 4yoided; the yerv Object of the
change in quotation price being to preserve
actual gola values the sauae. To illustrate
The importers Of Nev York, by keepiao
their accounts and PRICES on the mid bas7e
cl1ure their currency nricea pr7th avarv
change IN tha n,eninn, N ,o,a n.s 49,,
II, ayo;1 all ri a,et1st;oas :, 49, 49, sa,,;s.
rstnas nj tt.;r ooo5, Ifo ,.;- ~ F-s.os,
1;a o,oves IN NO ,o,5 1,aa;a ia .;-tv oant.
and oo,d Is AT 900 n. ir,norta- aei,. tba,,
fo1 81 % in currency. md immed;ate1r eolls
Vi. -, g. ~ -, .;-.-s. r..
nsean.as, a'o.us.:e a.. Gs g-': !; A1y 80 eeu.s n.e
nc, hnt ~. -a,1 ,;h..a.;n -. :. 80.
Fisl md Gon,d ts-t;4;sd ,hnt .ba;- thn-,r,,
in trv;np "a yo-,a -, I'D taa, ~ the -.,..
of cold WAS thai Il ron,a irc,a,sa nv Az
norfs and 50 ,,,c,a.sa tha ~ .-sa,a 49,. ~ ~ ~
F-1a Rad The S..s 49, ,o1.t:" ~ .uo
.r;,,ant,r -, ~. o,eI.. - %..s sa4e1Aon
.rs in selling tle,, c,or.. 49, I $500 -. 49, =.
-. .eA s' nR long ~aS oe-
~ ~ ~ 4A4t ~ eolo-an otnef
"o4'n, .tuss ~ q esnaAfu OF val
ues' Wills Nv sc" iotA sn'Ppe1s' ~ne would
ons 'ncH, olo sti'eai7 On Inc Bo'd oss's.
Lac enect "oaio Dc tnat tne 1a1ne1s would
ecu 'oels "aea1 AZ aoous tne eame price
with gold at lso as with gold at le5, while
they would really be getting one-sl1th less.
olhef words, II gold sdvauced s5 TO-
cent, 1a1nerB would neve!the'"-' ~eu enel.
~heat promptly 81 20 aaso y. . of ~
per cent, fh"nsn' ~ ~ ooans' tney "e
Ies'tT teulng :. ~ 10 "a peR eene sue.P4
IN eolo tnan oe1ote any aoeance ~nase7e1
~ oo. ~ e.>ae. -, e'.1 y. -sH:
ar..;.a - 1..;aaa " tau M N cs,5 49, r. = -l.nsd d
-. ss;t.i. ~ t.-a ~ uon.-, willie corn is
h;ob .na mss.t swo cents ttish.- = -'-,'
.,nsT. ther,5n in .ha ~ .aas 'ut1ea'
and in tbe othsr soraa ~ ~ eo I've cen's,
pb;eb the tw, c,or,, .o,,1s =. 90 pt.se a.
scu WI ~ s-ses. s'1,a ~ w oouens IN
nan .s-.-o, - " eo' export
and partly oFi51 ~: s".,.e t1.s caose,
C: ten cents per hnah.1 -. :. liverpool
Eamc time, and Il .jr,ht ..'.- ' on'o8 ene
coyn- Here we have, tns..sp pusuei On
on articles ordinarily of aq's out pF'ees
to - pei cert higher than in tho u,,r1.+, ~ ~
which they are exported. E.oort..;on ~ "
ing stopped, the accumulated stock II.
store uwails TO see whether the demand for
home consumption is sufficient to cali for
tie surplus on hand at prevailing prices. or
prices tend, in disorderls and straeolino
wny' to follow after the gold standard, they
follow SO slowly anl irepu}arfv that y 10
:, ,-,,+,,, ~
NcAt, as oos0e 10 estimate