The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-23

perhaps De opened II we add that on the second
GOA 700, 900, though only about 100000 worth OF
| actual gold changed hands and there were barely
"a 600 600 worth in gold in all New York. The
actions in the Gold Room on the third dag the oath,
amounted to f100, coo 900. How many fortunes must
again ana again have been made and marred during
| the few business hours IN those three eventiul
days-what hot and cold ITS OF frantic Joy and mute
despair must alternately have passed upon those en-
| gagged In that terrible game-What the stormy pas
sion must have been TO which the whole
town ana country became prey, as the
tue tlungs OF those sudden ups ana downs followed
SO closely upon each other as to melt the
geographic wires ana break up the communication
between we EAchauge ana the panking houses In
Tue clly-the scene OF STRIFE ana volence-the Pan
dehouiuin mat throngcd cold room exhibiLed-is
more tnan even the imagination or men accustomed
70 the excitement OF our own Stock Exchange aud to
the DIN and racket OF the Paris Bourse conjure
up. Inat one broker cut MS throat, another went
mad, a third disappeared and has not again been
heard or that scores OF houses broke; that no one
Mouu pay up. contracts were repudiated, no one
Woua ,rus1 ms neiehDor that there was knockdown
anu nRiN Tue police became helpless. ana reg
en WAS got reauy 10 come to their rescue-all THIS
= o ess moment than the fact that for TWO or three
uays !. " as Impossible 10 sette.accounts ana Dus
aenS ,ehaincu al ssahastii. 80 49,,
NJ IL Is lmportant 10 LOOK into the causes when
@ a aoous sne pegmhng anu emu Oh TINS sngu
.ai cIsis. lew speclators agree on scheme LOT
,ass e.e pItce VI goiu !ust ~ SET W payers ~
.tehse ., quaTane would lay plan Ior nDreakng
sne oan ~. ~ nouiours: Iney cuo to9etuer, SUI
scribe s ts,vooooo or capital and by shrewd calcu.
isV VI an ,ne sotu tlat WAS ~ Tue place., OF tiat
could De brought TO IT, they buy up and monopolZe
a anu carry everything oeioIe then, tu 9oiu 10 W
on hau hownele eACept lroin tnelr own nauus
Inree az cav 9 ta avn psve & @ a "
,,ao .n ays .eo W siie PV" ~, au y.
th'rS s . ovnpao,o assels VI ne "u.u, sii w. lc
s ~, uay 10 Tue Dess 20 nuantu ~ .ie snaPe VI
a,nu ei H., .hS oeore.aly VI 'hs WY
Sharnan G aus aus ga tn s onAe,s cal at,
1, ~, ~, ~, nu niomn nro.neis W sen S'"se
sS ooo oaS The wononnsts .sr 20 endaavor
w. - nc aonoposss ~, isA w., euue WI
Ut sha,r - haa na ILL W oaJ "P uo,
nners1; ma ,h aa a ny .ne Tn
opoaataois anu sas coinDna.On paohe up Tug
al, 49, nj, " . @ - 1891 W. 0u .n ~ .n ,
vn ~eo M Nv ~ ~, , vme VI sno uo,nH
h aomn caussu a sne OUTFITS 70 Sopp.e over
dmeae DRY nen ~ iihet t VIC arc so,u, Wnv ga
SO =, -. .uv suo.iov ~ % VI ano
tonta ,s IN N rs oS aa an @ 10 ah
,iae a Nc om ao ,o "a . Sno ~ " S.o
uusoi ,. ne rs await as nuoou, 'nS wnve Oly
b, nat &C was rev a, We
ish. esm ah nAohnnee ssiohs Us conssh,pia'ea.
a oreeiey naa ouuy sSunaeu tne aialm pen IA the
om ~ ~, - $3.50 poss. ~ $3.50 Soi nnss nuu W
- oe'e a'a ous ue aau s oma VIEWS gu .ae SUP,
jeor, ne ne.u .nas periecs neusiay ~ EAcaauge
s 6 t was .re oy ~ p On mu ~
Usy ny 'einou uvai ca. w anu lei.
new iork LOT washington, allowing tne imminent
'e W lake suc c4urse ~ forums aeciue,
leu When we DaIt,e was ~ IIs neignt' anu tne
senns s3s, Nn ~ .n es xcry MI boatWe
n n ntO .ne nea n nnu ny
scale in favor OF the "bears-" There may be clrcum
stances IN the nnancal position OF the united States
au.noriz .ii so caring departure from an the
sounu ruieS Oh pubic economy put IL 10 ullncuit 10
deny lnat Wnat was "a mere struggle between gangs
OF ganoers mas oeen Dy ms act OF the government
anu alter al, nau MI. BOulWeH persevered IN MS
non-n,ervention policy 70 the END what would have
happehedf me monopoistS boosted That they
would send uD gold to f20O. What OF it7
A great deal more money would have changed
hands; more fortunes would have been made or
marreu; otner brokers Would nave blown out their
Drains or nave gone mad, or aDsconded, and the
threat nela out against James FISK, Jr., to hang
nun up ~ IampposL" might nave been carried
into execution but 1t Is not easy to decide whether
an TINS would nave Deen Tor good or EVIL, or whether
would not have been present evil from which future
speculative lever, sooefei the gambling madness.
Weaneu some OF the most helpless dupes from the
Stoch exchange, ra that place Oh some OF It's most
airant rogues. Inc lesson VIII not be altogether
iost, CUT snort as u was oy MT Boutwelps resolu-
tion put hau te lesson gone on 70 Tue enu its pre-
cepts might nave been more impressive and their
yalue Wou'u nave oeeh enhanced ny their higher
! COST From ,,o london ro,scron, %, -
lrroM tne Lonuon lelepraph, Oct. H.
-, A., -, Wo WI. ~. say tiIAl kanlunng very sum-
lar Ia, ~ hinu, a. an uncommon among ourselves
pus ~ moulu cel.an,y pe uiihCui. 10 lhatcn tne
american specimen IN degree. Let IL De admitted
al once anas mama nan lot speculation Is almost as
mich once went mad aftar tins iod ny h s'H E
her Sonth 600 hnhhIa and har ra ,,ua - san
nothing of more regent excesses and the cannv clt,
| 1ana pr a. Nnngo have narodicaI AZ 81 ~
ANYTHING win 40 M q medium for what are
| sInnly a series or bets on futnre nr,ces In the
| Tinted states however there are canses at worKN
| some innate some Northumberland are snecialIv
faynrah,e In wid and recsiess specniation In tne
nresent case there was no reason why cold shonS
pnt mage an aYreanr 81 reno an which IL aaht That
metal IL nm article or commerce "a mnch as conner
ore yer rhough il does not CONSTRUED the CURRENCY
NJ The Siafea II IS I'm exceptionaI demand for nnrev
1seaI purposes All import duties musI he paid IN
gold II. then, the price be forced up unnaturally
the merchant must either pay an enormous
profit TO the Spectator who holds 1t or
must curtail operations. Such was the result
during the gold excitement fortnight
back, and the New York journals state that the
customs revenue OF the week suffered to the
extent CT nearly s2,000,000 IL is true, that the
Treasury ARRANGEMENTS provide safety valve, in
the fact that the Secretary INTO whose hands the
proceeds or customs duties pass can restore the
gold 10 stringent market whenever ne pleases; as
indeed, Mr.. Boutwell, has done. But, since there Is
no certainty that he Will do in time to prevent
the speculator from reaping rich harvest,
gambling, though checked is not averted. At the
same time the national OBSERVATION-DISCLOSURES
energetic, mercuria, innovatlng hating routine
and repetition athirst for novelties and infatuated
TO a familiarity with vast and rapid changes In
nature and society-must always be taken as the
primary cause or the large scale on which specula-
| lions are conducted. When an American CANDLES
III Wall street. he PUSHES into the ARRAY with reck.