Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1863-03-13
Tho Gold CauabIers in New York.


The New York Herald is very fsrcs on tss
gold speculators Of Wall street. The Herald
says the demand for gold is almost wholly hetl-
ti9us, and observes;
Even in Wall street, the gold Is never deliv-
cred. and never wanted. a certificate that so
much gold is deposited in such place, is irao5-
fsrre9 from the seller to the buyer, who disDoses
Of e again at an advance, If he can. If al the
eold. purchased 10 Wall street in q week, was
carried FROM broker to broker ~ the close OF
aacF days sales, al the drays In the city would
be IN reuuisih0u. MoTe than this, men sell
gold who never really own dOlleE Of it to men
who never truly possess the specie they have
bought. A brokers' promise 70 deliver so mucn
gold ct such p time is saiea1ls, snd the broker
rams his chances Of being able TO buy tho gold
/ before the time appointed, at D less price than
that ct which be sold it At the date agreed
upon, he sometimes produces the certificate OF
deposit f1T the gold but generally, he only psYs
1 tho diff renee between tho pTsm iUm rates on
/ the dsv he sold snd the dey be delivers. Con-
ssausnty, a man who has a few thousand dot
/ lars 70 pay these differences can buY and sell
millions olfl0l.srs worth Of gold. TIE dealings
/ ia cold are done 10 paper, there soIe-the paprr
( of banks, and bankers and brokers. The deal
ings of the peals are in the psper of the United
States government, which wils endure when
Wall street is but c memory. The paper OF
/ Wall street IS secured bY the pc tsOaal and real
property-often amounting 70 exactly nothing
Of the speculators. The paper Of the govern
ment is secured By ell the uatiIouai property,
and by the integrity and honor OF the country
itself The people are the iniOrsss Of the notes
4 Of the government.
The Philadelphia Evc7iug B5siIstin has good
article on the gOld-gsmUlsrs. It says:
While .here is some little lei Ultimate reason
for a temporary depreeiati0n IN be national cur
rency, there is nothing whatever 10 warrant the
excessive depression that has lately existed.
The trush is that the high qu1tations Of god
that are seen every day in the papers sre The
work Of the gamblers of Wall street, most OF
whom are enemies to the government, and who
would like to see it 90 to destruction, if they
could arrange TO make good thing ont Of the
ruins New YoTk IS fUh 0f traii ors, thieves and
Specializing gamblers The leading politicians
Of the D5mocrstic party there ave been max
ing money out Of tie gOvarGzs sant ell their lives
Now that the government ia in diii -Ts4t hands
tte-y prev upon the people through the stock aIa
sDscis rnsTket They insidiously circulate ru-
mcrs to the prejudice Of the e0Ilntry, and then
speculate upon the fsar thsy ha 7e excited.
No better proof OF the fallst ii0Usness Of the
present alarm shout The uatior 81 cuuaacY can
be nsede5 than the frequent and sudden fuetus-
tons in the price Of gold. Sol uetimes the quo
tations vary three or four per INT in the course
/ Of few hours A decline Of several per cent,
may be reported 81 noon, ang il IS IecoFetee
again IN an hour. Moreover, not One-tenth OF
the transactions in gold that are reported are
really IN gold. There is but li1tle Of that metal
changing bands beyond Whist is exported to
foreign countries. The transa cti0ns are as he-
titious as the panic. The amount Of gold in the
banks remains nearly the same IS it was months
ago, and no more. The currency Of the country
is worth quite as much as it was months ago
But peoples confidence in it has been weakened
Al ost1 rf- 81
the enemies of the goverHmsnt, whose hesd
quarters is Wall street, the greatest den Of cor
rupt and mischievcus gamblers that can be
found in the world.