The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-09-22

The steamer Java brought 81 900 in specie in ac
ooranos with the telegram published At the time Of her
sailing We have probably heard OF the last Of these
speculative shipments OF coin from Europe sal *
The Gold Board have notified those OF their members
who signed the paper In recommendation OF mar
kst for gold, 70 be held in the lower hall Of the Ex.
CHANGE tAas uns they withdraw their from such
they will Be expelled This Ia In conformity with
resolution recently passed, prohibiting members from
operating before hafpas ton o'clock In the morning
aftsr haifpass four In the afternoon. The members of
the existing Gold Board are, doubtless jealous Of the
proposed innovation, and may, therefore, bo
Too strongly disposed insist upon arbitrary
measures with regard 70 those who oppose them We
cannot see however, how the public il 10 gain BY the
OF the business OF the present gold TO the
long room Of the Stock Exchange The admission fee
% the lastsr Il $780, and all applicants regardless Of
character or responsibility. are admitted whereas the
entrance fss 10 the gold room 10 o. Co., and members
are admitted only BY ballot Under such circumstances
there obviously far greater security In doing bust
moss through th gold market u present con-
sutussd than there would b In dealing with
horde OF less irresponsible adventures in the
lower hall OF the Stock Exchange II would DO difhcut
Or not impossible, exact the penalty Of Y Per cent
now inflicted upon members OF the gold room for
failures In making deliveries, IL tho arrangement
came into vogue and loose system Of doing busines
like that which prevailed 1891 would be encouraged
In consequences.
We have heard rumor to-day that the Secretary OF
ths Treasury has intention Of anticipating tho
Interest the nvs.twenty loan, which falls due
tho lss Of November while 10 reported By telegraph
chat the usual mob Of Spectators who "shor OF
gold represented by Brown, Jones and Robinson, had
che mpudsuos yesterday 70 cause dspua,ion TO wal.
upon Mr. McCulioch In Washington and solicit, him to
sell Of ne gold In the Treasury. We, therefore,
again advise Mr. kccuoch neither sell any portion OF
che con In hi custody anticipate the interest the
netweuiy loan, for Is very clear that be does either
he viii to playing into the hands Of spscuiasora me
seiannual interest the public debt due the date
osutioaed VII aggregate about twenty -four milionr
and although more than ten millions Of u 10 due bond
holders abroad Iva premature disbursement would b OF
zsef assistance 70 tho present bears who after
dss their shors, would take advantage OF the oblieng
bs cuipabie act q the Secretary 70 run the premium IN
again - they have done undsr similar circumstances
Seabss The Secretary OF the Treasury requires TO din
unctiy understand that the gold he holds the
stronger tho financial position Of the government DO
comes and that the moral effect Of large hoard In the
zSsasry would DO far advantageous 70 the public
credit than the exchange OF any quantity Of coin for
currency Should ho fail therefore. n his duty In IN
rcspsct A he did on one memorable occasion before
he sss b prepared 70 popular and incur
suspiclops a. the most damaging character HIS
business -, 70 pay the cola interest on The
pabiie dse4 vhsa due, and not w advance Of
tsms and hispass experiences with regard 70 the sA
OF gold should have lAashs him Lesson which Is IN
necessary 70 repeat when gold vss sssns a isox AM
difncuti TO borrow, the Secretary vsA urged 70 eel III
ssailsd suplas bat he omitted 70 - - ed yss itso
~ thirtssu per bsIos this pcst to-day, and ~
ssssss 70 LEND than 70 borrow. Hsr
pnctlsal sxsnpss In favor Of our arSsmssi
Moreover, sales Of Treasury gold and psynsns
Of undue interest tend 70 psssa gold and derangs III
foreign msrchandiss markets. both OF which inur
V wsds while beneficial 70 spsculaon 10 gold, am
sssaAilr shess Hhs m vilha sarshsl n NJ naRArt