The New York herald., 1862-10-16
wall street Gone UP IN = Balioent

4
heavy metal. Gold has proven itself t.,
lighter than gas. 1t rose yesterday to tlirS
seven per cent premium. Stocks rose also, 81
being at a very great altitude already, did 1,
60 up at rate corresponding with the rise
gold. Demand notes, which can be used al
substitute for gold at the Custom House. fd
up to one hundred and thirty The consequent.
was that speculation was buoyant, and w,
street went up in balloon. f
Universal expansion is the order Of the
Poverty expands into wealth, wealth into fuA
ry, luxury into extravaganza. Our lcadi
Jewellers sell few second rate ornaments, 4
plenty Of costly diamonds. The dry go-
merchants have small demand for cho
goods: but silks and laces arc in grl
request. Comparatively few houses
building on quiet, comfortable streC
but on Fifth avenue the most elegant IN
sions are in process Of erection. People ~
used to walk fer cconomy's sake, undo's
hypocrticai plea that they needed exercise, N
ride in oars and stages, and make occasional
of q hack, on a Saturday afternoon when J
band plays at the Central Park, Many of u
who used to patronizc cars, stages and hac
and sneer a! the eAervating, unrepuhiioan h;
Of a private tusnont now roll about in
carriages, ana thin.z themselves inc arigtocrt
The Broadway places oi amusement h&vo &c
people in the family circle, but more in 4
dress circle and paIquet, ana ',noTc frcql
l,.-arUti,iNor
goes on s8ilaningy, and the only thing tba
all agita.es tho PEOPLE is the b.ustsr
thyeatenings OF tie political, canvass nowi
progress When roliticians begin calling n
other traitors and despots, the people at
wonder, thea GROW alarmed, and then put scr 4
faces Oh themselves, and extra locks on tS|
house doors a iict III New Yorl; city md
considerable blo2dshsd, ana an equal amour
burglary aurin. the confusion. a year
some of our newly rich people might poss
have benefited from a riot Al prcacot,
ever. they could only lese, and they are, T.
fore, anxious anu disturbed. =
Consequently, when the crowds eco i
play Richolieu at the Winter Garden, and
with the emphasis Of applause his invoeali,
'all means to crush," they are pleased bee
they believe that Booth is a war man.
they applaud lIackett rs jolly Jack FalstaA
! because they think lin sound on tie G
The grest question about Forrest is, not whd
or not he is great actor, but whether ne
| favor Of the suppression Of the rch:llio]
force. Politics become serious at this
when applied to the stage. The ladies al
Lester Wallack; but tingc Of melancholy
their admiration as they reflect hat he n;
hung if he does not vote for Wsdsworth
bone and snew Of the east side hi-h
! enthusiastically than ever as they rene
| thar Fox has Been 20 the wars and Boai ac
patriot AT the cosey little hall Of Wood
strels tie performers paint themselves b
the war color--and Union songs lend d
to the entertainment, which now SUP
the place of the foreign Opera since Nixo
retired from the Academy, and Ullman SEQ
himself from public view, Even in Wall
y touch of the blues Is evideas when the r,
! republicah Papers fume and fame asain.
| conservative men who advanced the fun
| start the war and save the Union Politid
deed, have great dea! to do with Wall
Many reasons have been given for the ri
gold; but most Of these reasons will not
water. Some say that spectators ca,ss
! rise; but recently the rise has exceeded II
pectatiors Of Spectators. Others say tbs
want of Union victories ca,iscs the rise
Rosecrans gave us one Union victory, and
seau gave us another, and still gold rises
er. The real reason is what the republ
would call political one. II is the fact
many capitalists have an idea that the W
going to last very long while, and that
end of it, there will be great crash. Thcr
these capitalists hold on to what gold they
and can get, saving it as an anchor dur!n
coming storm. The government must
gold to pay its interest by and by, and
Of this gold must be paid by importers int
Custom House when the demand notes give
Capitalists feel themselves safe, tbercisr
wait and hoard and watch.
Meanwhile the balloon in which Wall
has set sail is rising higher and higher.
higher 1t rises the further it will have TO
BY and by, when the war is over, and th
escapes, and the balloon coliapses, aud
street comes heavily down, what will be
Of the wealth so plentiful now. After la
and extravaganza often comes ruin. Jc
silks and laces are often bought to be
again at heavy loss. Carriages and
often hold other people than those for.
they were built. 1t is the old story to bs
over again-the rise like the rocket, the fal
the stick. Let the Wall street balloons
warned
GENERAL KEAHNY's LETTER.--O. s. Halls
Jr., Of Newark, N. j., must indeed be amin
with feelings OF dire hatred TO General NJ,