Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-04-22
TIE SUDDEN RISE IN GOLD ARRIVAL OF SEC
RETARY CHASE IN TIE UITY-ALL THE COLI
In THE SUB-TREAsURY TO BE THROWN IN.
TO WALL STREET.
: T From The N. Y. Herald, 1874 l

The sudden rise in tie gold market for the past fe
dsys began TO have is effc upon oil branches OF
msrcal business q, people began to think that a.
tabled stories of the uferpgs OF the Southern people
were about ing reiLz by the working classes of The
North Butter OF the most essential necsssaries
of domestic use ha. uId the ind ted condition of the
money MAJ ke risen to such figure TO entirely ex.
cluds s use at the frugal board OF the mechanic aad day
laborer aud my ia lies who have heretofore enjoyed
all the Injuries of witch the American people have par
taken for half century, reduced 10 the nects-
sy OF dap ns.ny with al ant ces that are not actu lily
cessary ~ sustain life. 10 visw Of this state of facts
Mr.. Chase, whose .pu.aon as fnanc,r is world re-
nowned took his faiture from the capital OF the
ton to employ his magic wand, which turn paper
into gold at its rt touch, 70 80 tie the feverish ex-
element OF the money market aud restore the equii
brum Of exctsDg- b. Throwing all the gold in the Sub
Treasury upon the market, hoping thas by this means
he may be able 10 restore confidence, aud create a
market for thesae OF the l040s, which are now the
hope of the Govern in securing The snsws OF war
for tbs prosecution OF the spring campaign, abou; TO
open.
Mr. Chase arrive in the city yesterday aud took up
hs quarters at the Ft1 Ayenue Hotel aud did not ap-
pear on Chang, dui tao day but his arrival in the
city being well kno"n by the operators in god they
were naturally anxious 10 discover the object Of his
visit The rumors thAt we're EhJat du-i The day we're
various; some would have it that he for he pur-
pose OF hearing" The market by throwing air tbs gold
In he Slb-Tress,ry into Wall street, and by that
operators Improbable that they would in future heel
IA TO cublrk In such uncertain enterprise What
,yer The olso Of Mr.. Chases visit may De- it has bad
tbs a. Ct OF money Market aad prices have fallen
Of Is per Q ut consequence. One noticeable fact
hoStve was observable in Wall street. Vety lite
busine Was d0u. the s4s of SPECIE spectators evil
IDENTIFY waiting for Mr. Chase to develop his plan OF ope
rations.
TIE talk in Wall street is, that unless some decisive
victory If gained by Grant, sll the Efforts Of Mr. Chase
will be unavailing to keep down ths premium gold.
Add in Of defeat they pre- phecy that gold II each
such figure as TO slntss render greenbaeks worthless
During the day, Yesterday the Secretary visited
his hotel by parties, who deepl, inter
sed in the object of his visit to the city, but were un
able 10 get any reliable Information onIhe shijec Mr.
Chase pref a 70 keep hs counsel A short ime
however, vii al the whole matter, and in the mean
tme every 'c'u4tion in the prics Of gold will be at
rbuted to his aud if he be unsuccessful in his
efforts to maintain thu integrity OF the Government pa
Der, or more propc'ly, his issues OF bonds, notes.
or hnpasers H., his visit to this city II no! be
so successful as bis 'rsnds would iain hope.