New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-12
Communicated.
THE GOLD QUESTION.

The passion for gold is an old feeling
1t was well calculated to master the mind
of heathens, as is evidenced by the &C
count given of Midas, foolish king, VIII,
is represented as having entreated BAG
chus to turn everything he touched int,
gold; but it is queer tina. in this intelli
gent age this feeling should master tn,
mind Of any reasoning being. Yet the.,
are those who, Midas-like, would set More
value on gold coin than all the values tina,
abound in this country; values that EN-,
brace improved and unimprored lands.
fertile liz wealth Of all descriptions: lands
that, in their virgin state, ARE source o.
immense wealth, and which, as they be.
come subjected to the hand of industry.
are rendered the fountain Of all kinds of
values-tha equals Of gold and silver
worked into coin as o medium of e1.
change. In olden times the supposed
scarcity of the precious metals "a term
applicable to gold and silver served to
strengthen the faith Of those who
made gold .heir idol, and 20
that exten. their golden calf may
have possessed intrinsic value. But
this delusion should no longer exist to
successfully mis1ead men Of the present
age. With the discovery Of America came
the discovery Of mines of untold quaint.
Ties of gold and silver, and there has been
steady stream Of these metals pouring
into business channels ever since. The
European thirst for gold led thousands of
European adventures and carpet-baggers
to invade, under the lead of Cortes and
Pizarro, Mexico and Peru and despoiI the
natives not only Of their gold and silver
treasure, but of that which was of far more
value, their lands and country. which con.
stituted their homes. For centuries the
gold and silver mines Of Mexico and the |
South American States have been yearly |
adding gold and silver to the Golfers of |
Europe; and since the acquisition OF Cali
tornia by this country, and the discovery
and development of its immense mines of
gold and silver there has also been steady
stream of these metals running toward Eu.
rope from the golden gate" of the Ameri-
Gan Union. The immense quantities of gold
and silver that have been added TO the
commerce Of the world since the discovery
OF America. and more particularly since the
discovery Of supposed values in California,
had tendency some years ago to cause q
test to be applied to tteir ralue. The
supply being far IN advance Of wha: it
was before the discovery Of America. it |
was believed to have materially destroyed
any real demand that could ROW exist for =
these metals based upon their intrinsic l
worth. The present value SET up for them !
can only be maintained by common con- 9
sent of all concerned. The Old World t
can not alone determine the value Of gold E
and silver. OF make them the worlds ! Z
The New World must necessarily be cen. :,
ulted in matters Of this kind. The cot =
on and grain products alone Of the United e
'tates are destined to be in far more de. II
nsnd in Europe than gold and silver. and p
herefore the national currency Of the Y
United States will speedily make itself Ii
be equivalent of any value that is now 81
ccorded by the Old World TO gold and h
liver currency. This can be asserted ~
lthout fear OF successful contradiction. v
1ith population Of forty millions, this =,
'untry. in atew Years after having passed CT
trough Il most devastating civil wal. al
ads itself in = generally prosperous va
nditior. The currency established GO
lrins the ~ar. and which. uniey We
g burdens the war imposed upon W;
6 country. had deprecated far be. mi
= the value of gold and silver when the iaI
y ended. has ever since been approx. a" a,
ting 10 the value of VIVA: some ar. Wv
,ased to sle1Gominate the worlds cur. an
ICY. The sountry has been gradually tn,
tprsd to prosperity under the reign Of til
zee and with this has come n gradual TIL
rease In the public debt and q gradual col
rease in the value of the national cur. a.'
cy, until now there is but little differ. "i.
e between it and gold and silver. II ~
hing transpires to force this country the
, another war within the next ten fea,
s, the gold question will be definitely to 2
led, for with our population doubled thin
come an increased acreage in our i'm and