Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1870-03-04

I'M "VVDs'-lhe market Is very dull in
/ Eastern cities. The condition of the gold
market has retarded operations, and no large
transactions have recently taken place. Early
last week Stewart and Clafin, in New York.
reduced the price of Wamsutta and Merri.
mack prints one and two cents below the
agents prices. Holders of sheetines and
shirtings will make no concessions, Stocks
are small, and jobbers operate very cautiously
and only buy small lots to keep up assort-
ments. Atlantic A., 17c.; H., 161zc.
GoLD.-The mines of California have furn-
ished, since their discovery in 1913, 81 600 OOO.
600 in gold. The first year $4,000. 900; the
second, $40 900 900. which gradually increased
till 1853, when the maximum amount of $685.
100000 was gathered Since that time the
yield has steadily been lessened until 1863.
when only S23,0OO,000 were produced. Other
Pacific States have yielded in twenty-five
years s25O. 600 900, the amount for the past eight
years being constantly lessened. India has
been denomlnated " the grave of the worlds
gold. Thither it has ever flowed from Wes
tern Europe in a ceaseless stream. 1t never
returns. How it is consumed has never been
ascertained. We only know that ii is eneulfed
in " sea of people," Just now these Soutb-
ern States constitute burial place for gold.
Cotton crops of the past three years have been
converted into this precious metal, and. while
local governments have been harbarous to the
last degree. and deemed with property rights
unstable, the excess Of receipts for cotton over
expenditures has been buried. The banks of
New York hold to-day $40. 600 900 in gold. and
boast of their wealth. There is not a cotton
grower amid the hills and valleys of the poor-
est districts Of the South who has not his LITTLE
hoard of gold. Give the South decent govern |
ments; suffer white civilization TO supplapt |
black savaeery, and this grave of gold " will |
rive up its dead, and the prosperity of the
whole country will be gilded with a sheen of
Solden light reflected from the splendors of
wealth and progress,
BoSDs.-There Is bill before Congress NJ.
Getting the financial condition of the country.
gainst the enactment Of which every banker
nd honest taxpayer should enter his protest
t is already conceded fact that if the Gov
collect $500. 900 900 annually, the ool-
cotton itself costs $500, OO0, 900. In other words
hieyes now in office cost as much, and are as
srrible to the country, as the war and public
eot' some Congressman, with an eye to the
IAN chance, probably tool of Jay Cooke or
isk, proposes to pay one per cent. for fund
lg the public debt lthe pretty little doucev, Of
Selve millionsl-quite enough to make an
iitor's head swim. Besides this shameless
aste OF public wealth, there is to be a sub
rent Of the Treasury sent to every little fnap.
al capital in Europe, to negotiate the ex-
ange Of six per cents for four aud three
II cents. Each Of these agents also receives
se9d commission, American bonds are TO
made payable in all the money centers Of
irope, where We must have branches of jaw
oke's concern to pay out our money forever.
iaVery was never more unblushing. What [
graduation would an Englishman or French
IN think had befallen his country if I" con
5 and "rentes" were payable in New
rk' instead Of London and Paris? And yet
$ proposed in Congress to make American
urities valuable by paying coupons and
ads in the Old World. No homes. Ameri-
! will ever consent.
loNEY.-Exchange Is Scarce. Eastern bills
sold at FROM y to 14e discount. Gold, lis
.ldtl buyingi lie selling rate. NJ. and c.
X, stock. q to IS. City Scrip, dull, and no
nsaetions. Bank Of Tennessee notes have Oh
n sold at q TO Is, and same for County
Up "a bid in New York yesterday for NJ.
I, X, R, stock; one lot of $500 gold sold SD
E at llS15 this morning.