The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-07-04
4 Csnnercial otgan On shs esla
Romtcs

= censfoiea 0s9en sn shs 6sla
The more we learn with regard to the
matter, the more firmly do Ne become
convinced that the CREST ezciteueatl
il gold and the extreme prices which
have been quoted during tho past NV
days, have had no reliable basis, bat have
been simply the result Of . dodge resort
Cd to BY sertain persons Of the ssriug''
with the view Of frightening Congress IN
to recession from the position which il |
has assumed. Itis we'll known dat many |
Of the Operation Who sold ssshort" pre-
vious to the adoption Of the gold bill,
have been performing the circle Of the
ring trying to procure gold to gu their
contraCes, and oil sorts Of unreliable quo.
tations have been freely circulated for Of
feet.
A daily eotemporasy relates practical
incident which goes to show that since the
bill became . Law, the gold quotations.
have been wholly aominal, and had "a. 70
liable basis. On Wednesday, when the
cxcitemsst was It IL height, 1.-TWO ee.tls.
men. The Hesss. Bhekman, holders Of
large amount Of gold, DESTROYS 70 take adj
vantage Of the supposed high prices, went
to Wall street to sell. They found that
only two brokers we're disposed to opesats
in the precious metal 1t I'll. They called
upon one Of these. He vas buying gold
in small amounts At aI0, and selling It at
ZIG. What was the price ofgold Il that
establishment? Our travellers anuouncsd
thar they had gold to SELL "How much p
1.-TWO hundred and eighty thousand dol
lars" They ~onld have 70 see the head
ofthe house," and were shown to his pri-
vate room. Infoshed of the state Of the
case. the head Of tAe house admitted that
be was paying 2l0, bat could not pay il
for that amount. HSHwas sure that gold
couldn't keep up. that it would Ger
tainly be below 200 \o.morrow," and
this good natured brakeman preferred
rather than buy the gold. . recommend
his customers to his neighsor. So the
two gentlemen went to the ovher broker.
He was also buying At clio, ana selling It
ZIG, and was as little anxious b bny =
large sum at his own price ~ hin neigh
Dor had been. He .'knew that gold would
be below 200 tomorrow" Well, if hvas
to fall, tho two gentlemen would like TO
sell now on the best terms they could gel.
"Whst would give?" t'He didn't know
He would prefer not to buy it ALL" A,
there was no third broker for the gentle.
men to be commended to, they we're merely
bowed out, and left Wall street somewhat
enlightened AZ to what was not the price
of gold.
A more unnecessary excitement thar
that which has succeeded the passage oI
this bill can scarcely be conceived, hence
IT follows that it must be short-lived.
While We have not favored gold legis.
lstion. We believe that Congress honestly
thought that there we're good reasons 70,
the passage of the gold bill. and We there.
fore trust that it will not be frightened by
the demand Of any committee, or commit.
tees, into any concessions from what il
concelves to Be isa full duty in the premis-
es. There 10 no doubt th.A the gold bill
WAS intended - public benefit. 1f~e
essary, let it be 90 modified % 10 insure
that rssult-but concede nothing more
at least not until the bill shall have been
fairly tried, and its merits and demerits
have become self-evident. We may add
that il has come to our knowledge that ,
gentleman. yesterday, endeavored to sell
eiOO, 600 in gold, and he could get nc
bid ct over 200 per cent and We believe
the majority we're under that 6gars. I,
Is evident that go to 22Of0a3O have been
paid only for little dribles.-[N. 7.
Shipping List, a5th.