Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1878-12-11

ury will, on the first day Of January, and
thereafter, pay out on demand, coin for
legal tenders. The legal-tender circulation
(~greenbacks) Of the country, is S346, 000,-
600. The gold and silver in the Treasury,
according to the official statement Of Sec
rotary Sherman, amounts 10 S240, 000, 900.
Out Of this specie reserve, the semi-annual
interest on the Government debt, amount
ing to, say, $50, 000, 900. must be met JAN
uary LIST. This will reduce our available
specie to $3.50. 900. 900. With this sum it is
proposed 70 undertake the redemption OF
S3i6, 600, 900 Of le~gal-tenders. Will the at
tempt succeed? Many cautious financiers
fear not. We can see but one hope OF sue
cess, and that lies in the failure of the hold
OF legal-tenders to present them at the
counter Of the U. s. Treasury, for ex-
for specie. Secretary Sherman
seems to think that not to exceed 40 per
OF the legal-tenders Of the country
will be so presented. If he be correct in
his estimate, why, of course, resumption
must prove a success. He also relies for
support OH the fact that the legal-tenders,
redeemed from time to time. need not ne
cessarily be retired under the present law.
This will enable him, he argues, to go into
the gold market, eyer and over again, with
the redeemed currency-a sort of
rotary motion or self-acting plan of resump-
ton. But the Secretary does not seem to
have calculated very closely regarding pos
sibilities. Gold may not always be avail
able for greenbacks, except at q high pre-
MUM. There is such q thing as the Wall
street spectators putting up a corner on
gold. That they are no a bit too patriotic
to do this is proven by the experience Of
the past. In fact the odds are all the other
way; they are sure to do it whenever it
will pay.
The next few months will constitute q
period in the financial history Of
the United States. Good or bad times in
the immediate future mainly depends upon
the success or failure Of resumption. Sue
cess will restore confidence and promote
in all the Of trade and
business. Failure will mean general dis
trust, the unsettling of all values and uni
versal generalization, if not indeed stag
throughout the land, for the cur
rency will be concentrated in o few hands.
We most earnestly hope that resumption
will succeed, but we cannot close our eyes
to the great danger which threatens the
business world during the next few months.
s >s-
THE terrible details of the death of Com
missioner Torp Of Storey county, by a I'M
away team, have already appeared in the
Geographic columns of the SENTINEL.
The accident occurred OF the corner of G.
street and Sutton avenue. 1t used to be
that Torp was the leading spirit
tie Committee of COL. The Committee
,ummarily executed Perkins. Kirk and
other roughs. Perkins had murdered q
man, and got no more than be deserved.
Kirk was q bad man, but had committed
no crime which called for tie forfeiture OF
his life. He was taken from . house on
the corner OF G street and Sutton avenue.
Several members Of the Committee whc
took part in the lawless work committed
in less than a year thereafter, and
now Torp meets q violent death within
fifty feet Of the spot whence Kirk, seven
years before, was marched to his doom
Is there anything suggestive in this?
IT is affirmed in England, by q well
known and reputable periodical, that the
Queen does not recover from the me!an-
choly occasioned by the death of one Of
the children Of the Princess Alice. Of Hesse,
and that in addition to this, her anxiety
lest war cannot be avertcd, has so pro-
asitated and grieved her that II is
absolutely essential for her to leave Balmo-
raj palace for a rest beside the sea. She
contemplates with horror, it is said, the
possibility of a conflict with Russia. This
what Disraeli said Of her. in o pub
lie speech ten years ago that the "Queen
was morally and physically incapacitated :"
to perform the duties Of England's Sover-
eign-
IT is interesting to learn from the annual
Of Honest John Sherman that the
Alaska Commercial Company has taken
during the present season the maximum
number Of 100, 900 seal skins allowed by
law, and "appears to have faithfully COM
Piled with all the conditions Of its contract
with the Government" Honest John
Sherman himself is not entirely uncon-
nectcd with this impudent monopoly, which
needs investigation about as badly as any
thing on the continent, Notwithstanding
that he feels warranted in disposing Of it
in q single complimentary paragraph.
In his annual report the de facto Attor-
ney General expresses an anxiety for addi-
tional legislation to protect United States
officers in the discharge Of their duties,
and desires to have q law passed superced-
ing the State statutes against murder when
. federal official is the victim Of the crime.
He tells the story of bailotbox stufing in
South Caroline apd alleged intimidation in
Louisiana. and asks for more money.
-4F. ~------
WITH the collection Of the present assess
ment of 81 per share. aggregating s1oo, 900,
the shareholders in the Bullion Mining
Company will have expended $1,000. 900 in
the development Of their mine. Not a
dime has ever been returned in dividends.
They are now. it is believed, on the eve Of
getting ore in remunerative quantities. II
they do, the beauties Of the tax on the met
proceeds" Of the mines. will receive an
other striking illustration.
In New Orleans, once, Mexican Buchanan
aekad n w Cauldock for n letter OF intro