Year: 1868

- SUNDAY, August ls 1855.


The gold market was active and rather wide In its


fluctuations during the past week, the extreme range
having been from l45ss to l4S, while the closinr


quotation on the street on Saturday was l46gf a I47


The shipments OF specie from the port were limited
to $65a4sS. making total since the LIST of January
OF $62,lls lao.1 The disbursements of the Sub
Treasury IN coin IN payment OF interest aggregated


327Sooc whAe the customs receipts were s2,s77 oOO
THE general tendency OF the gold premium IA nm


oouosediy upward, owing TO financial and COM


nercia causes as well as political Influences which
are even more powerful than the former, and In es-
timaung Its future course most persons lose sifbt
o tne latter and therefore arrive at erroneous con.
ci,sioN- IL Is quite possible that our foreign ex-
pors hight preponderate largely over our i'm
pof'ss the rates OF foreign exchange rule
'sar below the specie shipping point and
she stock OF gold in the country be three or four
times as large as 1t is, and yet that the premium
ansht rise far above It's present point and this sim


ply owing to dstrust OF the political future OF the
country. But added to this distrust we have now to
deal with the fact that foreign imports largely
exceed our exports, that the stock OF gold in the
country and the Treasury is unusually low, and that
we have shipped from thls port alone to foreign
ports since the lst OF January than sixtytwo
millions of specie and bullion But political con-
alterations paramount to oil Others as regards
che future course Of gold, and the speculators in
operating for rise, are only anticipating q real
movement, which would be experienced whether
there was any speculation in gold or not. or
course speculation temporarily exaggerates efrects
but to be successful Il must be based upon something
more substantial than caprice and this is especially
so Ia the case OF gold. The spectators have there
(or6 mrcn iass control over It's price than ig ger,
orally supposed. Popular dstr1st of the fuiure
financial policy Of the government is more power
ful agent in advancing the premium than speculs-
ton and all the materlal causes 10 which we have
referred combined, although each OF these has it's
influence. The abundant harvest which Will soon
be gathered is Argument against q rise in gold;
but the speeches OF prominent politicians in the
West and elsewhere are certainly much more power.
rul for evil III their influence upon the pub
lie mind and the price Of gold than houn.
tiful crops are for good; and as the
Presidential campaign progresses we shall doubtless
witness much that is calculated 70 advance the
premilm than have vet done. The attitude Of an
important section OF both political parties on lnan-
cal questions is likely 10 put gold much higher by
impairing confidence in everything else, and this is
cause for national regret but have to deal with
facts and it Is useIess TO ignore em although un-
due speculation an gold should be Iepressed much
possible by public sentiment. The adverse in
1uences at work are bad enough without thelr being
exaggerated by unscrupul0us Spectators. The eX-
treme range OF the market during the week IS thus