Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1878-12-06
u CURRENCY.

The most striking. yet most snoma'
lous effect Of the passage OF the Silver
Bill. and the demonstration Of silver.
appears in the increased appreciation
and favor Of grsenbaeks with the
people Of the Pacific Coast. The
Immediate effect was the promotion Of
grssnbaeks to an equality with gold
notes or gold coin. Nobody objects to
them now. They will buy just as much
groceries, clothing. whisky. and other
necessities Of life Us any other money.
They are as good to have and handler to
carry about than twsnty.dollar pieces or
silver coin. Anybody can easily carry
500. 900 Of the national currency in
their pocket. but that amount in hard
money would require a wheslbarrow to
navigate 1t. This increased popularity
Of the greenbaek here is simply q very
natural result. As long AZ they were
spsculAtively held below par as com.
pared with hard money. everybody felt
suspicious Of them and preferred some
thing more substantial and reliable. but
thanks 10 the efforts Of Senator Jones in
the demonstration Of silver. our ma
tional currency is no longer the inferior.
unsubstantial stuff that it was consid.
cred to be. Our people arc handling
them daily with increased favor, and
getting more and more used to them.
The San Francisco Bulletin makes the
following sensible remarks on the sub
ject
There are many queer things in d.
nance. just as the Atlantic States are
getting ready TO 60 over the metallic
basis, the Pacific States are beginning to
utilize paper money in trade circles. IL
has been thought a very incorrect thing
for any one to tender greenbacks in pay
mont Of n bill in California until quite
recently. Years ago parties who did a
thing Of that kind were published, and
commercial relations with them were at
an end. People from the Atlantic States
who had been accustomed to handling
Government notes for years. felt much
ehagrinsd ct the way their tender Of
greenbacks Was received upon their ARR.
val in San Francisco. In some cases
the notes were politely declined with a
smile, coupled with the remark that
they could not be received except at the
markst value. which has varied all the
way from 35 cents in 1864 up to within
a fraction OF par this year. In other
cases tho notes have been rudsly re-
turned to the newly arrived persons
from the East. as though they were
counterfeit, or had been stolen. AL
this Is now practically a thing Of the
past. Greenbacks are still bought and
sold for gold coin in this city. But
when 1t comes to offering silver coin in
exchange for the notes a premium Is do
handed. In tho regular channels OF
trade, gresnbacks have been received
here at par for some time. Recently
the volume in circulation has increased
very much. The receipts Of one firm
last week embraced several hundred dol.
lars in greenbacks. No one in business
now declines to take them ut par. The
banks do not as yet treat them a. gold
coin. But when assured that the Gov
ernmsnt's promise to take grsrnbacks
in exchange for gold coin Is a fixed fact.
IL IL likely they will 60 through bank
circles as freely as they now pass in
trade circles. The result will add so
much to the money volume Of the Paei-
tc coast.