Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1869-10-01
Gambling in Gold.


New York city Mas the scene OF the
most intense excitement on Friday of last
week, caused BY speculation in gold at
the brokers boarl The account OF the
affair reads like a fancy sketch, which
jewellers in quiet rural districts can hardly
comprehend. As the great heart of the
country, in Wall Street, pulsated with fe-
verish excitement, the tremendous vibra.
lions were communicated to all parts of
the country. And whence the commo-
ton? a lew bold operators in stocks,
taking advantage of certain circumstances
in the commercial world, among which
was the rumor of probable war with
Spain. and instability in the stock mar
ket, seek 70 make corner" in gold
sales, and run up the price from lS2 to
$50. an event which might enable them
to realize vast profits, but which would
seriously disturb ordinary business
throughout the country and possibly ere.
ate financial storm which it would test
the power OF our government TO with
stand. There is a reckless disregard of
public interest in such movements which
should bring down public condemnation
upon the actors. They are ALWAYS the re
suit OF combinations which are Ubiquitous
IN their conceptions and intentions.
The transactions arr simply bets on the
price of gold, and it is species of gam
bling as reprehensible rs any which calls
down the vengeance of outraged law
Nor are the moral aspects in any way al
leyiSied because countenanced bv the
commercial community Look ut the ei-
tects of such operations upon the legiti-
mate business operations of commercial
life. There are hundreds of merchants
who must have gold in their every day
dealings, to pay duties upon imports and
meet foreign liabilities A panic i crea-
ted by the deliberate planning ola ring
and financial diSs>te, is inaugurated.
which unsettles and inpairs confidence.
and does a vast amount of injury TO the
industry and trade of e country. Spec
ulatjoa IN bTeSds;Gifs 90 the absolute nee
csSsries OF life. l. not ore disastrous than
III stocks or gold.
Men in high Socis Standing and =
kuowledged wealth q ibcratey arraI e
TO run up the price gold I, an alarsl-
ing figure, making Al uumak.ng men =
Ii they were PuPpe. Mo,issey. e
democratic Congress, an and gamble.
makes his 100000 2 one stroke. WI 2
many smaller operate GO to lie wall
One man worth his u ion. who ventures
too much and loses hEa lrcd> d. thousands.
has 70 be carried To hi, home in u hack.
with his mind unsettled, and suffering
from the Authorization that some one Is
after him 20 shoot him.
Business in general is suspended
Gold has reached o. aud. Is one broker
exclaimed, "hell is 10 pay Bejlam has
broken loo>e-inen shout and raye-thc
street Is crowded with an anxious thron-.
The bulls" and bears" of Wall street
are arrayed in fierce strife, and the com
munty cares little which party CONES IF |
victor, as both are responsible Tor much !
mischief. While the excitement was al
it, height and threatening results most /
disastrous. some foreign spectators ua-
expectedly stepped in and broke the jam. |
offering genuine sales ofgoId The p,ice |
dropped rapidly. Then Secretary Bout. /
well. who has been laboring earnestly To |
keep gold >pecul5tionS down, telegraph |
eel that -four millions Of gold would be put !
upon the market next day E,cn this.
the ring" could have ,aheu care OF, but
they feared the secretary with hi, sur
plus gold in the Treasury. and dared not /
compete with him. Down came the
price again, running many. and ending
the days alarms. The warfare was no, /
resumed the next day, it being found e
most dangerous excitement Little SYM
pathy VIII be manifested for the sufferers
who were active participants IN the spec
ulations. They deserve rather. as do all |
the successful and the unsuccessful
the condemnation of the community and
the strictest discipline Of the law. Their |
transactions are hostile 10 our institutions
and government. Ifany thing will tend
TO the growth Of citizens and working
mans party, and justify lis ascendaucy to
power in Gar L,ul, ;a- .yes,Arow oil such |
men and their punishment would seem
10 be sufficient Let be snathemas If |
the community be pou ed out upon them, |
ill stop isPut to sac. proceedings.
The latest account are, that some
forty or fifty members II the Gold board |
have failed, and tina, one trouble is ap- |
pretended An iniun .ou ha, been is-a-
edagainst the Presidel 3fthe Gold Roo.
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