Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1869-10-06
GREAT EXCITEMENT
ON WALL STREET.
BEDLAM IN THE GOLD ROOM.
The Government Comes TO the Rescue
OF Business Men.
From the New York Herald, Sep. 81

From the New York Herald, Sep. 81
The Great gold speculation of 1869
has eliminated.
AT noon yesterday the fever which
/ for the past three days has been raging
in NallstTeet with almost uneXampled
violence was subdued. 1t was a mon
etary crisis never to be forgotten. The
24th OF september will long be remem-
0ered as one of the most extraordinary
days of financial Juror that has hap
pened IN all the times of peace. In
good Will with all the world, with a
grand and wonderful harvest of corn
and cotton, and all the natural pro-
ducts of the soil pouring in and actu-
ally Cutting our markets and those Of
Europe, and with but faint speck of
war on the great political horizon, a
gold panic breaks out in Wall street
The result of the disastrous Operation,
while it will perhaps cause many a
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, IT
was a desperate battle between two
hosts of gamblers, whose minds were
qulckened by incessant plots, whose
hearts were cold and their greed rapa-
clous. Gold, gold, gold was the ery.
The rich man Dives mentioned in the
Gospel never shouted so pitifully for a
drop of water as the thirsty ones did
yesterday for the yellow ore. Beyond
doubt the Revelations disclose nothing
so hideOus as the demoniacal wells and
screams, the terrorism, fright and fear
ful scenes enacted yesterday. May it
never come again. 1t was a lesson to
be studied. Audacious spectators
whose bOldneSs is only equalled by
their rascality, and whose very name
is suggestive of the most adroit swind-
ling, have held this great city of New
York in almost breathless suspense
The victims of this ruinous piot-and |
many sad men live to-day to tell the |
tale-merit but little sympathy. At !
all events, they will obtain but little |
from the community, for he who
knowingly enters into a dangerous /
trap deserves to be caught; and while /
the gigantic scheme redounded partly 1
to the operators advantage, it must /
necessarily sink more deeply, if possi- /
bic, the tainted character of the in
genlous and heartless speculatOrs who 1
cOntrived the plot.
The conflict has now been WaCed for I
three successive days under circum- I
stances perhaps unparalleled in the I
financial history of the country. A
desperate combination, almost colossal |
IN It's form, conspired to make a haul. |
The attempt was q successful one. but /
1t Is well known that the more cour- I
ageous the thief the better is his chance /
OF escape. The old recognized princi-
pie OF honor among thieves" was
abandoned, and rogue pillaged
rogue remorseleSsIy Y, just as when two
gangs OF reckless robbers. each bent on
though jealous of each 9TH
ers' gain, turn from their highway of
crime and despOil each other. If the
bulls" succeeded the "bears" were
sorry for it; had the "bulls" been de-
feated the "bears" would have re-
loiced. Millions have been lost and
won. Satan sits complaeently on the
unholy spoils.
THE MORNING RUSH.
The intense excitement which had
characterized the proceedings of the
previous two days was not in the
slightest degree abated Yesterday
morning, and long before the usual
hour Wall street was alive. 1.-THE
great glittering golden calf" the idol
)f thousands, the cause of sleeuless
nights, bad temper and anxiety. was
'aised on high, not far from the tow
sring spire of old Trinity Church.
Feverish looking men were seen to
lumbly raise their eyebrows towards
he sparkling gold which shed forth
Is yellow beams in the glorious sun.
some took off their hats and looked I'D
N fear, beseeohing the noble god to
mile down favorably. Others, wink
ng most knowingly, as if in previous
private communication with the calf,
Isked instructionsand went their way,
While large number partly unknown
o the golden deity gaZed ON in inno-
'enee, wondering by what process it
lad been hoisted. The mechanical
operation was thoroughly discussed
any satisfactory result, and at
nine o'clock the god stood
ampant. 1t was busy scene-buster
md more eventful than many a pre-
'ious one. The upward strides of
soId had created a CONSERVATION that
vas likely. to continue, and men al /
most maddened by fears and hopes of
Sain braced themselves for the emer- ,
.ency, knowing that at any moment /
. crash might come that would crush i
hem. Before the gates of the pande-
nonium were opened, before the lines
lad been regularly drawn in order of
'attle, men were almost wild with ex- ,
itement. A mighty crisis was at !
Iand. ,
THE BALL OPENED. =
AT a quarter past nine o'clock the 1
rama was continued, the actors being '
nervous and looking as if I
be present was their first appearance
n the stage. The financial scene I
hifters had everything in readiness, g
7hile the members of the orchestra i
4 the Gold Room began to tune up /
heir instruments with remarkable b
lacrity. A sturdy broker, with an o
ye glittering like diamond and not t
n unfriendly terms with the clique, C
-arted the ball by bidding $50 for five t.
lillions of gold. The price, therefore, f,
Dened at that rate and ewes pvare n