Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-04-20

1
Prom the New York Herald.
The past week has BEEN oos of cxtraor
dinary- excitement 10 tinauciaI circIes.-
Gold huctuated between Ill aud ls9, al
times renderiug the spectators almost
wild, and7W panic seized the stock market
and nearly bFokA down ever share on th,
list, the decline rAugtag between tigs aud
aad twenty per ceni. These cireums,auces
added to the extraordinary visit Of Secre-
tary Chase 10 this city, the snspsusiuu ol
tbs sale Of gold certificates; the announce.
ment by the Secretary of the Treasury
that the currency was being contracted,
the bill in the United States Senate in re-
laIiug to the traffic fn coin, and the gov.
ernmsDt tax bill. which has been reported
in tue House of Representatives, all tended
to make up most extraordinary week ol
important incidents 6ffecting commercial
aud financial classes. IL is to be hoped
that few days of quiet will be allowed 70
succeed. and that monetary matters may
be Psrmitted 70 gssgms their former p0Sf-
tions. tue time for abe great closing crt.
sis has hotyet arrived, and until it does IL
behooTes Us to be as calm rs possible and
prepare our nerves for the crash that these
small events merely foresh adoW.
II is very amusing to read the remarks
various suggestions aud plans that have
been recently introduced iu both houses
to tinker the currency aud to cheek the
upward movement offhe premium on coin
On Thursday last Sir. John Sherman, of
Ohio, offered another bill IN the Senate,
which has since passed that body, having
for its object the suppression of gambling
in gold, oy which it is made penalty OF
one thousand dollars and years impris.
onment tor II person 10 offer any amount of
gold or foreign bill OF exchange for sale
which he does not At Ibe time possess or
which he cannot produce immediately upon
the close OF the contract, aud, a like penalty
upon the purchaser, If he proves unable to
meet his obligation by an Immediate de-
livery OF the necessary HmOunt OF green
backs. 10 opposing this bill. Sir. Edgar
CoWau, Of Pennsylvania. who is n member
Of the Finance Committee, stated that the
operations Of speculaturs had not the least
effect on the price of gold, and Ih1; cOin
depended entirely upon its material value
We dare say Senator UoWan has not spent
much time in the gold exchange, or Eatch-
ed the maueuvres of the operators 1t he
had it is dOuOtful whether he would have
yeuIured upon such au assertion. We
cannot think that be would endeayor 10
~
intrinsic value, without the shallow of a
cause, four and half per cent in thH space
of i've minutes, aud lose Ave per cent OF
its worth. going d0wn by the fractions, iu
the next three minutes; then rise sagAi0 la
the course OF an hour eight aud afterwards
fall fifteen per cent hsfOrs the close of busi-
ness on the same day, ss was tue case on
last II Mr.. OOvan's 3 iasssrtion
Is correct. il is very plain that. gold can
altee lts Yalna 10 less llms than Abe chame
leon requires I'd change lis eaiors. Ssna.
tor l4ehafiAh Dhau ditri 5of hliGbigan, has
shown that he knows bot little aOout the
sentiments Of the speeulal0rs that Ihroug
The market each day. He says they a-e
all persous of dIsIoyAi OpInions, who use
all kinds of methods to break down conf.
dence in the government and to destroy
the currency. That their practices, which
are superinduoed by Iheir engeraess to
make fortunes, hnVe that tendency Wa ad.
init, and 10 this respect they may lie
cIassed with shoddy. gun and other con-
tractors and government steamboat agents;
but We deny that even majoriIy of them
are dlsloyai in feeling. Out of Wall street
the largest portion Of them are As patriot.
&c and Union loving rs any of the men in
Congress, aud they would go u5 far TO sus.
tain tho government; but dnring their
gambling operations, which TO Ihrm is
their business, they are blind to everything
for the time that does no. afford food tor
thrir morbid appstites. If they have sold
short they pray, of course, for gold TO de-
cline; but II they have purchased on time
they are anxious that the premium should
advance, iu order that they may reap the
advantage of the difference; and so they
may be'called, il their desires while in the
street is to be the test, loyal one day and
diSloyal the next, just as they happen to
have the bears skin or tue bui's upon
them. Their only ambition from the lime
they commence their business until they
leaVe il is to make a fortune speedily, entire
ly regardless as to who may suffer or how
the government is TO he affected by their
operations.
In relation to Senator Sherman's last
bill, without stopping to inquire whether
il comes within the power OF Congress to
enforce III We are OF opinion that, SO far as
it is calculated to prevent time sales of
gold, il will have good effect, aud will
tend to check the transactions Of that class
of gamblers who are the most uuscrupu-
iOus; but the attempt to confine operations
to the Offices or regular places of business
of those who buy and sell will prove utter
ly imprscIiCdbls. The Offices OF large
number ofthe speculators, as we formerly
stated, are either 10 their hats or overcOat
pockets, aud their places of business are
the gold room and the eurbsLone, where
tue operations of the day are carried gu,
and from whence enunale the Guling quo
tatiOns Of coin. The BOarG Of Brokers d
the Public Board are both influenced by
the transactions which daily take place in
the Exchange, aud it cannot bedenied that
the gamblers give tone to ths market.
Secretary Chase has ordered the Assis.
tant Tressnrer'in this city to suspend, for
the present, the sale OF gold certificates,
aud to collect the duties on toreign goods
uniformly 10 coin.
THE great contest in Maryland will soon
be settled now. The Baltimore American