The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1861-10-12
0sEAT DISTURBANCE III WALL STREET
DREAD or THE EXPORT OF BULLION


From the New York Herald, Sent. 81.
For the past fow days there has beer
great deal Of excitement and dlslur
bance 10 Wall street, consequent up0l
the seizure by the agents Of the Secretary
of State Of moneys deposited toy South
erncrs wish our city banks aud bankers
These seizures are proics-edly made un
der the conIiscation act passed hy the
late Congress, and hare resulted ia 4
gain tSi's Government 81 from fifty to
sixty thousand dollars. There has been
depaslted IN this city by Southerners be
tween fifteen and twenty millions Of dol
lars, and these pal,ry thousands esiy
have been secured by Stewards agents
The balance has keen sent of 10 Europe
as ias, as possible by tie honest bankers,
and about the only effects which this
move Of the Secretary Of State has pro
dnced have been great disturbance in
Wall street rise in the ratio of OK,
change, "a convuisior in the money mar.
ket, and a check in the subscriptions to
the popular loan There is very little for
Nj Sewad to congratulate himself upon
Ia tile
Before the commencement Of actual
hoaiilities between the two sections, but
after the secessiou Of South Carolina and
the seizure Of our fopts and arsenals,
many Of tie moneyed men down South
sent nn all the funds they could spare OF
gather for Investment aud deposit here
These men were merchants, cotton bro.
kefs, manufacturers, cotton and tobacco
planters and, knowing the North well,
through thoig commercial dealings with
Us, and fearing that the attempted seces-
sion Of the Southern States would result
in bogus c0nlederacy and in actual
warfare, they transmitted their funds
hcfe for security aud safe keeping. They
were mostly Union men IS long as {
was possible for them TO he Union men
and still remain at their homee in the
South. They are undoubtedly Union
mcn still, tut are repressod By the mill
tary despotism of JcA Davis Every
dollar they have sent here ia "a pledge
not only Of their confidence in the per.
peiuiiy Of the Federal Government and
the honesty and good faith Of the North,
but also OF their supreme distrust aad
dislike Of the piratieal sham Of gov
eminent under which they are compelled
10 live These funds, sent here by South.
eruers for safe keeping, arc the best ey-
idehce we have 0f O strong hat suppress
scd Union feeling at tho Seglth, and the
best security we have for its continuance.
Where q mans treasure is there will
his heart he also,' says book whose
authority can rot bee doubted These
Southerners evidently thought IL pla@.
ihcir treasure, with their hearts, in the
sight place, and they sent il 90 the North,
thus aIrene theuing 1us hands and weak.
ening ;tiosc Of Jcil. Davis's clique. We
are afraid that this action vt Secretary
Seward viii change an this viii sever
Ibis golden link between the Union men
North aud South will caasa them 10
fail 60 see tle difference III result be
tween eur Coufsoaiiuu act and Jei Da-
viaa leylcs, and Hili douur cause injury,
not only among tie Jui0u mou South,
bat also among ihc iraueiers here
Tho deposit VI this twenty miilIans IN
car backs htse was one %. tho causes OF
the general abundance ot speeie darias
,He past nine months, aHd ls effect was
Immediately shown .u lle fall iu TIE rate
81 exchange. which t1s ever since cop.
tiurcd in oJf isvor With sn uuch spe-
t,r ia tAcjr vaults our tgaae were eua-
hir1 safely 90 gruHutce 'he lifst iusisl-
meat % i'ny millions Of t4e Treasury
i1lu and thus ilrse Southern deposition
uot only deprived JcG Davis OF the uso
IS iher money, but actually eouubated
10 indirectly. 90 the sgpyort Of the GOV,
ernmcui Ia IT'S cfHjs to crush ont rebel
lion Ii they could not serve tic onion
cause Ia person, they At least deposited
their money where 1t could do guud seg
vice, sad oucy has always been az.
counted The very sluews q war This
was one 81 the great causes Of the sue.
cess IF Secretary Chase's loan, aud now
thaf Secretary Seward, without. seem.
iuriT anc consultation wilh tho Score.
ttry ag tie Treasury hs- ordered these
dcQ, It's SO he seized, the national luan
Immediately shows the evil effect Of tins
raeasusc by falling oli In il. subscrjp.
ton OF lifty per cent Not only iais, but
the bankers are Aurfyiug q this specia
ta Giuseppe Tor safe keeping the rate 4
IS rising and will soon b.
against Ms the drain OF specie from
faia country which must ensue w,ll atop
subscriptions 60 oar loan almost euiirely
oar fulucicrs have 40 sympathy what.
ever with ar interference with their de
posiis. which they cannot bat regard as
a breach Of honesty aud good faith, and
tao consequence will be confusion
n finance here. and loss OF couhience
in our government both among the Union
men South aud ,he fusnoiers North.
equally disastrous IN the present aud IA
the future
ABOUT the legality of those seizures
their is great dead oi question, tor most
of these mnAs we've deposited before a.
taal hasfIi,bs began. aud ~ Al! them. 50
fag from being employed % aid the rebels
have actually been taken from tho rebels
70 aid the Inisn
1890. 90. -srfsr a-aaraf