Year: 1868

Why Gold Goes Up-The Cost OF Rebel


BIusteriug.


There could hardly be more striking in
stance of the good nature of the American
people than is afforded by the manner in
wn'en 'ireJ .-Aatfng The blatant,
staggering, fire eating rebels of the South.
These fellows, whose character as paroled
prisoners of war should in common decency
stop their mouths, are allowed to indulge un-
disturbed in open threats OF renewed civil


war, and in strain of abuse of the govern
ment ard of insult to the army and
the General who holds their parole which in
any other country would long ago have cost
them their heads or their liberty. Our peo-
pie take but very little notice OF this kind of
vaporing, regarding it as on the whole rather
harmless way of letting off the rebel steam
1t amuses those fellows, and it doesn't hurt
us any. We know, and they know to their
sorrow,the weight OF the hand which is ready
to come down On them Ii they attempt to
pass from boastful words to rebellious acts.
But it is doubtful, after all, if their talk is
SO entirely harmless as it may have been
deemed. We incline to think that these i'm
pudent threats of the southern rebels, with
the moral support which they receive
from the adherents of Seymour and Blair in
the north, are really costing the country q
heavy price. What their effect is upon ouI
financial credit may perhaps be best seen
from the point of view of an intelligent and
unprejudiced outsider. The Toronto Globe
one of the ablest papers of the Canadian Do
minion, and one which during our war re-
mained steadily friendly to the national cause
has in one of its recent editorials some sug
gestions which are worthy of attention. The
writer is discussing the causes of the present
upward movement in gold; and after touch
ing upon those which are obvious TO all, as
large harvests in Europe which are likely to
diminish the profits of our grain export, the
talk about repu liation, and the adoption of a
plain reputation plank in the Democratic
platform, he thus proceeds:


But there is another cause for the enhanc-
ed price in gold which has not perhaps receiv-
ed sufficient attention. In the excitement OF
ouSh d L iCSiuOutIdi dS Is dC present.
going on, violent language might be looked
ior. Prophecies OF coming disasters of the
most formidable kind, in the event OF this
particular candidate or that not being success
iul, were only what might be reckoned on.
Perhaps all that is at present being said and
done may be simply the ordinary electioneer-
ing bunkum, but people not quite stupid and
not unduly tinid may be excused il they have
the idea that specially grave issues are involy-
n1 u fLxtf fL1an 20 Ll
possibility and something more Of the
great ciril strife being rene,ced, and in cir
cunastdnces eUen more disastrous than former
M, When we are assured by the leaders of
the one party that what is now the law of
the land shall be overturned, if necessary by
force; when we see the prominent men of the
Southern Coniederacy speaking so significant
ly of their swords and services still being
ready for their country's need, and of the
cause OF the late Confederate State being one
with that OF Seymour and Blair; when we
hear OF murder and violence being the COM
mon order OF the day in many parts of the
South, and class arrayed against class with
increasing bitterness, it may very likely be that
we ought TO regard all as mere electioneerino
dodges, but in the meantime outsiders are
not to know this, and those who have their
money sunk in public securities remember
how gold was, not so long ago, 260 and high
er, and are anxious that before that state of
matters comes round again, they should have
their property in a safe and quieter place


The acitd threats of Southerners and their
sympdthizers, NTH the open encouragement
they gire to uiolence; and all backed up 6y
those luho possibly mean nothing 0ut the sue
cess of their ticket, hare, ece 6eaere, much to


do u fth the enhanced price Of gold.


We are not of opinion that the present


Presidential contest wi ! issue in the renewal
| of civil strife. Grant, we are very confident,
will be the next occupant OF the White


House. And with him there, and the Re
publicans in power, the next four wears will
see great progress made in reconcing the
conflicting interests, healing the wounds OF


war, soothing down much of its bitterness,


and making all feel that their accepting the


situation was not more a necessity than an


an advantage. The Democrats virtually


threaten that il beaten at the polls, they will
| try the sword. They don't mean 1t, however,
| as time will show. In the meantime their
| wild talk affects the money market; makes a
panic possible; subjects very many to great


pecupiary difficulties; enriches some: i'm


poyerisnes others, and may between this and
| November do very great mischief, all in the


name OF order and as opposed to anarchy !;


but when the crisis is passed and the question
settled, things will come to a more natural
condition; gold will fall, perhaps to its for
mer level; repudiators will not be found all