Abbeville press. [volume] (Abbeville, S.C.) 1860-1869, 1867-12-20
THE GOLD ROOM IN NEW YORK.

THE GOLD Room IN NEW YORK.
Everybody has heard of the bulls
AID bears, who wugo an unceasing
fight about the price of gold, and who
sometimes succeed in starting n ru-
NOR that disturbs values throughout
tho country. The editor of the Gin
cinnati Christian Adrocute, week OR
two ago, made q visit to the den
where these wild beasts f light, and thus
describes 20 his readers what he saw
and beard:
Through the courtesy of a mcm-
Der of old John Street Church, New
York, who is tho policeman OF tho
gold room, New York, wo had the
privilege of locking in upon the stock
aud gold s,liing rooms, Broad Street,
hcar Wall. No verbal description
can give an adcqrato idea of other.
Conceive us representing tho gold
room, room Of 30 by 40 feet, with n
circular sp .cs in the center, five feet
in diameter, i.clused by stout iron
ruling, four and half tcot high.
Holding half this circular fence are
tho bulls. and surrounding tho other
half and. facing the bulls, are the
bears. The bear is the man who con-
tracts to deliver ut some specified fx-
ture time, g"Id which he d ,es not own !;
duN is ono who contracts TO take
the gold. Honce, in tho intervening <
time, it is the interest Of the bear to
deprcss tho price of the gold, as the
boar pulls down with his strong We,
and Of the bull TO raise the gold, as
the bull throws upwurd with his
horns. The gold is, in fact, never de-
livered, and never was meant TO be
When the time for delivery arrives,
tho losing party pays the difference be-
tween the price Of the gold tAen an /
at the time whom tho contract WAS
made.
Az wo entorei tho gallery of tho
'oom tho sound was doaf,ning. We
tried to talk with our cicerone, but
found it useless. There wcrc perhaps
four hundred men in the room below,
crowding around their circnlar rail
ing, jostling and elbowing oach other,
and gesticulating and yolling in q
manner that would have taknn the
!aurels in Pa.demoni I'M. E:ery
mans arms were going, every mans
throst open. "Onc forty" '.one forty
and an eighth, "one forty and quar-
ter" "eigbth," "eiyh,h," "quarter,'
"qnarter," wero ru"g out with the
sum total Of power that each man
could command. 1t Looked as If evc-
~ man WAS in q e. sht with his noigh-
Dor, wishing to dro IN his voice or
clutch his throat. Going out Of the
building We asked oar FREUD, the po-
liceman, what ull these f..llows W ere
doing, and how long they kept at it.
"Making their living; they do moth
ing else. They yell from 0 in the
morning 10 4 or S ut night"
On the sidewalk. there were crowds
of men, who,> unabled to staLd the
tax of membership in The gold-room,
were making the most of their. arms
and luugs nihe open air: One scream
from just one man Of the goId.room
uttered in religious meeting wonld
probably f ighten every mum nndI wo-
man from the church; two screams
certainly would. But hero, whore
men labor for money instead, of souls
they scroam six long hours every day
through the year, and with an inten-
sity: that would Indicate that the: end
of the world was jast at hand. N.
man calls it insane-no man ludicrous
even. On tho contrary, s,me of The
staidost, soiideht, soundest citizens yvl
she loudest and the longest. and ars
praised the most for Chejr eff,rts. =. =.
| --z---- 80 -a---..-E-
GEORGE rMuLLEa.-George Mule,
The renowaed .fonnder. Of the. Orphan
-E.,ablishment, Bristol, e ,gI.hd,' ha;
received and expended s2.75o,0o0
every pound Of which was .sent vol
unfairly, and without solicitations
lie has 1,2e0 orphan children 5upde,
his charge. occupying Eve large stone
houses, each ,distino from tho othera
IITbe following personal description !,
from the Bostor Juur,gs correspon-
dence ~ Z, ~
He:iives in. the simplest. style, apd
doss 20. allow bimseif9 lounge Or !
frochbg okair ,uUies4 he is sick. ! H.