The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-04-18
FINANCIAL ANo COMMERCIAL.


svxDAv, April IT, 1884
ne past week hes bean one Of Extraordinary excite
neat In anancta cro'sA Gold aucsua,ed between Ill
ssd 49, a. times rendering the spectators Aimost Wild
AND panic ssiss1 ths stock market and nearly broks
down every share tie list the decline ranging
ave sad tweaty per cent fhcse circumstances. added
70 the extraordinary visit 81 Secretary Chase 10
ths city, tho csicn OF the sale OF gold certificates
the BY the Score AIRY OF the Treasury that
the currency beig contracted the hill in the United
States Senate 10 relatan 70 the traffic in coin and the
government tar bill, which has been reported 10 the
House OF Representatives. all tended 70 make
up most extraordinary werk OF important Incidents
fecting commercial and financial cnssss IL Is TO be
hoped thai DAYS quiet will be allowed to sue
cecd and that mstiers may be permitted TO re-
sumo their former positions Tho time for the great
CLOSING crisis has not yet srnved and until
hooves us to be calm possible and prepare our
nerves crash that tese small events merely FORE
shadow.
Is very amusng 10 the remarks of some Of the
members Of Congress- the various sugres,i MS and
plans taat have bsn entity introduced both houses
tinker the currency and TO check the upward
movement Of the premium coin. On Thursday last
Mr. j. I'm shernAn Of ONO, offered another bill in the
Senate which has since passed that body having for rs
object tho suppression ., ing gold by which IL Ia
made penalty Of thousand dollars and years i'm.
prsonmont Tor person to offer any amount Of gold or
foreign bill OF exchange which be does not At the
timc possess or which ho cannot produce Immediately
upon tho close q the contract and like penalty upon
che purchaser. hs proves unable obligation
BY an immediate delivery Of the necessary amount of
grcenbarks. In opposing this bill, Mr. Edgar Cowsn Of
Psnnsvivanis, who member Of the Fir ance Commit
tes stated that the operations spectators had not the
ieast effect the Price OF sod and that depended
entirely 10 material value. We say Senator
Cowaa has nos spent much tme In the gold
exchange or watched the manruvres OF the operators.
II he Ind Il Il doub ful whether would have ventured
upon such sssertioa. We think that he would
codeavoe 10 convince mse that coin can rise In in
trnsic value, without the shadow Of four and
half per the space Of eve minutes lose ave
per cont OF m worth going down BY the fractions in she
neXt three minutes then rise again in the OF
hour eight and Afterwards fall fifteen per before
tho clese Of sGsuess the day. the
Thursday last. Mr.. Cowans assertion Is correct il
worry plain that gold alter It's value In less
time than the chameleon requires TO change It's
colors senator Zachariah Chandler OF Michigan, has
shown that he knows but little about the septi
ments ~ the spectators that throng the market
each dav. He says they all persons OF
disoyal opinions, who oil Kinds OF methods 70 break
down audience In the government and destroy the
currescy That their practices which superinduced
by their esgerpess fortunes tendency
shoddy and other and government
boat agents but deny that majority or them
are disloya IN feeling Out OF Wall street the largest
portion OF thcm are patriotic ana Union loving any
OF the mea 10 Congress, and they would go far 10
sustain the government; but during their gambling
operations, which 70 them their business. they are
blind to every thing for tho time that afford
food Tor their morbid appetitcs they have sold
they pray, Of course for gold to decne but they have
purchased Oh time they anxious that the premium
sheud advance 10 order that they may reap the advan
tage OF the difference and so they may be Called their
desires while 10 tho street be the test, 10y day
and dsoyal the pext, just they happen the
bears skin the BULBS upon them Their only ambition
from the time they their business they
leave Is TO make fortune speedily entirely regardless
- 70 who may suffer how the government is to be
affected by their operations.
10 relation 20 Senator Sherman's last BILL withou,
stopping TO inquire whether Il comes within the power
Of Congress enforce IT, OF opinion that %
W calculated TO prevent time Of gold Il VIII have
good effect. and will tend to check the transactions Of
shat class Of gamblers who arc the most
scrupuiors; bus the attempt to con6ne opera
tons 70 the o1nces regular places Of business
Of these who buy and sell prove utterly mprsctca
bio The onces large number Of the spectators a.
wc formerly stated, either thor or overcoat
pockets, and their places Of gold room
ana the curbstone where the operations Of the day
carried o. aud from whenc. emanate the ruling quota
sioAs Of coin. The Board OF Brokers sud the Pubic
Board both Influenced BY the transactions which |
daily take place In the Exchange, and be denied
that tho gamblers give the tone to the market.
Secretary Chase has ordered tho Assistant in
this city SUSPEND for present. sale gold CERT
acates and collect the dut.e foreign goods uniformly
In coin.
me following we're the quotations Of stocks a the close