The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1876-12-14

Amid all the political turmoil, which
h ag,tating the country, that great
barometer Of the business public, gold,
steadily declines, showing that In the
minds Of thosc that arc familiar with
the monetary and commercial interests
of the country. there 10 no apprehension
that a storm Of civil war will ewccu
over tho land. but on tho contrary,
whichever party candidate shall evcntn.
ally occupy the Presidential chair. the
people will acquiesce, and business will
60 OF as usual. II Il true. that tho de-
cline In gold is due TO purely natural
monetary aud commercial laws. The
causc. In brief. Is that we are selling
moro to foreign countries Of our domes-
tic productions. chiefly cotton. tobacco,
breadstufs aud provisions, and some
manufactured articles, than We arc buy.
ing OF their commodities. and even after
making duo allowance for the interest
on u obligations held abroad, aud for
freight money paid to foreign ship own
ers, there Il n balance In a favor. AT
this season OF the year u shipments y;
cotton, brcadstuffs and provisions are
always large. and this year they arc
unusually 50. and these Shipments fur.
nishthe basis If more exchange than Is
wanted ~ pay Tor goods which we W.
port. Tho consequence Is, that ster-
ling bills Of exchange are At such a
discount that II pays foreign bankers to
send gold over here from Europe ~ buy
such bills. Money In London Is worth
only 1t@1f per cent per annum, these
being the rates Mt which discounts are
made In the open market. while the
Bank Of England rate Is only two per
cent, which Is rs low as IL cal be, and
Ii has been ut this figure Tor more than
a year, with no prospect Of an advance.
Now, by shipping specie to New York
to buy sterling exchange, foreign bank
ers a make 1914 per cent In 80 days,
or at the rate Of cog per cent per annuln
instead Of i@2 per cent which Il would
yield them at home. This Is why specie
Is coming so rapidly that the accumu-
lation dcpresscs the market In New
York. The imports Of specie last week
were nearly $4,000. 900, and on Monday
Of this week l,0OO.0 900 In American gold
was Withdrawn from the Bank Of Eng.
land for shipment to New York. This
movement 10 likely to continue all
through the month Of December. and.
probably, with perhaps a temporary In.
%terruption about the first of January, in
IN the spring months. So that IL Is not
only the ample present supply. but the
prospective Increase which affects the
market. Now, II there wus any wide
spread fear that the peace ofthe country
would be broken, there would be a
boarding demand for gold which would
take the surplus of the market, and
cause an advance in the face Of the ma
tural causes for n decline, II Is true
that there Is some little demand Of that
character here il is not from business
men. however, but IRON n few individ-
uals whose fears and caution exceed
their Judgment and discrimination. If
there WIS really any cause for alarm,
who would be quicker to see and act up
on it than the controlling spirits of
Wall street? Men who watch every
event in this country, and every other,
TO turn in to some speculative account.
The public has no indication of the c6-
istence OF q war fever. The people of
neither section want u civil strife,
There may be u f. " hot heads who cry
Tor blood, but even they have no large
amount of their own. while they would
be willing TO shed, even iftherc was any
good Gauss for IL, while the great mass
OF the people are not going to allow
their country to he plunged into a war
on q mere pretcxt. We have too re-
Gently supped on horrors to have IN al-
petite for more. Therefore II Is safe to
infer that the course OF market for gold
Is a true indicator of the public feeling.