The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-25
WALL STREET.
GREAT EXCITEMENT.
The Bulls and Bears and Sharks
and Sharpers Biting and
Tearing Each Other.
BEDLAM IN THE GOLD ROOM.
FAILURES AND SUSPENSIONS.
The Government Comes to the
Rescue of Business Men.

The Government Comes to the
Rescue Of Business Men.
Tho great gold speculation Of 1860 has culmi
mated,
At noon yesterday the fever which for the past
three days has been raging In Wall street with
almost unexampled violence was subdued. 1t was
monetary crisis never to be forgotten. The Gath
OF September will long be remembered as one Of the
most extraordinary days Of financial Juror that has
happier in all the times Of peace. In good Will
with oil the world, with o grand and wonderful
harvest Of corn and cotton and all the natural pro-
ducts Of the soil pouring in and actually Cutting
our markets and those VI Europe, and with but
faint speck OF war on the great political horizon,
gold panic breaks out In Wall street. The result
OF the disastrous operation, while 1t will perhaps
cause many bitter pang, for reckless folly
must certainly be hailed with qualification.
The forces on both sides are somewhat exhausted
by this terrific conflict the effect must be peace and
quietude. 1t was desperate battle between two
hosts OF gamblers, whose minds were quickened by
incessant plots, whose hearts were cold and their
greed rapacous. Gold, gold, gold was the cry. The
rich man Dives mentioned in the Gospel never
shouted so pifully drop Of water as the thirsty
ones did yesterday for the yellow ore. Beyond
doubt the Revelations disclose nothing hdeous
the demonIacal yells and screams, the terrorism,
fright and fearful scenes enacted yesterday.
May IL never come again. It was
lesson to be studied Audacious Spectators
whose boldness is only equaled by their rascality,
and whose very name ia suggestive Of the most
adroit swinding, have held this great city Of New
York In almost GREATNESS suspense. The victims
Of this rui2ous plot-and many sad men live to-day
to tell the tale-merlt but little sympathy. At all
events they will obtain but little from the cOmmu-
nifty, for he who knowingly enters into dangerous
trap deserves to be caught; and while the gigantic
scheme redounded partly to the operators advan-
tage 1t must necessarily sink more deeply. If posi-
be the tainted character Of the ingenious and heart
less spectators who contrived the plot.
The conflict has now been waged for three success.
sive days under circumstances perhaps unparalleled
in the financial history Of the country desperate
combination, almost colossal In its FORM conspire1
TO make haul. The attempt was successful one,
but 1t Ia well known that the more courageous the
thief the better Is his chance OF escape. The ola
recognized principle Of 'honor among thieves'' was
entirely abandoned, and rogue pillaged rogue
remorselessly, just as when two gangs Of reckless
robbers, each bent on plumber, though jealous Of
each others gain, turn from their highway Of crime
and despo each other II the "bulls'' succeeded
defeated the "bears' would have rejoiced. Millions
have been lost and won Satan sits complacently on
the unholy spolls.
THE MORNING RUSH.
the intense excitement which had characterized
the proceedings OF the previous two days in
the slightest degree apated yesterday morning and
long before the usual hour Wall street alive. "The
great giitterng golden calf" the idol of thousands
the cause Of seepess nights. bad temper and anx-
iety, raised high, not far from the towering
spire OF old Trinity Church. Feverish looking men
were seen to humbly raise their eyebrows towards
the sparkling god which shed forth its yellow beams
In the glorious sun. Some took Off their hats and
looked up in fear, beseechiug the noble god to
smile down favorably. Others, winking most
knowingly, as If in previous private COM
muncation with the calf, asked instruc-
tons and went their way, while large
number partly unknown to the golden deity gazed
on in innocence, wondering by what process 1t had
been hoisted. The mechanical operation was tho
roughly discussed without any satisfactory result,
and at hafpast nine O'Clock the god stood rampant.
1t was busy scene-busier and more eventful than
many previous one. Tho upward strides OF gold
had created CONSERVATION that was likely to con-
tinue and men almost maddened by fears and hopes
OF gain braced themselves for the srgency know
ing that at any moment crash might come that
monum were opened, before the lines had been
regularly drawn In order OF battle men were almost
wild with excitement. mighty crisis was at
hand.
THE BALL OPENED.
Ata quarter past nine O'Clock the drama was con-
tinued, the actors being exceedingly nervous and
looking as II the present was their first appearance
on the stage. The financial scene-shters had every
thing In readiness while the members OF the orches
ira IN the Cold Room began to tune up their instru
ments with remarkable alacrlsy. A sturdy broker,
with an eye gttcring like diamond and not on
unfrendly terms with the clique, started the ball by
bidding $50 for five millions OF gold. The price,
therefore, opened at that rate and eyes were seen
to sparkle with delight Mephistophelian chuckle
gurgled In the throats Of some, while terror was
depicted on the faces Of the majority. Consterna-
ton Immediately prevailed. The news spread
like wud1re. Crowds gathered near the
Gold ROOM and at shortly before ten O'Clock Fury
sat upon the throne. Victor Hugo has unoo n
scousy described In his "Toilers Of the Sea- the
operation OF the "bears In describing the drowning
man. After nine O'Clock the tide Of speculation
gradually rose. Wave after wave came rolling in.
It rose and the 'bearn stood still awaiting his doom
in despair. Higher and higher the wave came
gold ct 165-and forlorn he looked for help.
He cried aloud for aid, but his call was answered
only by the wild scream OF the sea bird; the vulture
lowered in the air. slowly aighting to the form Of
the gasping soldier on the field
= on shame to men devll with devil damned,
Firm concord bold
FLOOD TIDE.
As the DAY advanced the excitement increased
The yellow ore grew brighter at every moment and
mems eyes glistened accordingly. The Gold Room
was the magnet Of attraction; all else was aban.
doned. The revengeful war whOop Of the most fero-
cious Indians, the terrific yeIls issuing from unatic
asylum could not equal In intensity the excited
cries Of the spectators In the Gold Room. Rivuets
OF perspiraton streamed down many face, while
the voices Of hundreds were exercised TIL they
crooked with hoarseness. 1t was o pandemonium
ever to be remembered with terror, yet tending IN
some degree TO bring before the mind . vivid
picture Of the condemned In the lower regions