The New York herald., 1870-03-01
FINANCIAL and COMMERCIAL.
WALL STREET,
.eo~~-~o-ooc.,.,,.

WALL STREET,
MONDAY, Feb. 2S-8 p. M.}
The excitement which attends the great decline in
gold is exhibited in more curious fact than that
at any early hour this morning the brokers were
dealing In the precious metal at the door steps OF
the up town hotels and long before the usual time
OF business made Immense transactions The news
from Washington produced such rush to cover on
the part OF the shorts tnat the price advanced to
lit. but during the session Of the Board eventually
ell to 1l5-the lowest yet IN the present downward
movement.
THB GOVERNMENT PROGRAMME
The instructions from Washington were soon set
forth In detail on the blackboard az the Sub
Treasury
During the month OF March. 1870 shall, by order.
receive bids for gold and offers OF bonds as fol-
lows
Thursday, March 8-One million dollars.
Thursday. March 17-One million dollars.
Thursday, March 3l-One mi,i0n dollars,
ali on account OF the Sinking Fund.
OFFERS OF BONDS
WEDNESDAY,, March Zone million dollars Especial
Thursday, March lo-One million dollars Sinking
Wednesday, March leone million dollars Special
FUND.-.
Thursday, March 24-one million dollars Sinking
Wednesday, March so-One million dollars Especial
They will be in accordance with regulations here
tofore observed. certIaed check for i've per cent
OF bld OF otter must be deposited Herewith. Pro-
day specified The Treasury may at Its option accept
offers OF bonds IN excess Of one million Further
particulars can be had at this Office.
CHARLES J. FOLGER, Assistant Treasurer.
This document produced renewed excitement. 1t
was originally supposed that only TWO millions OF
gold would be sold during March, but the month
having the full thirty-0ne days, aud the last day
falling on Thursday, 1t happens that another gold
day "a included, ana hence the schedule provides
for the sale OF a third million Of gold The mind OF
Wall street is sensitive this period that the cir
cumstance was sufficient to produce small panic In
which the "bu!is. who had bought against the con-
snaency Of reduced sales Of gold unloaded at once
step to which they were, moreover, prompted by
tho further advance OF fve-twenties in London,
Which came 90h, while Congress summarily dis
posed Of resolution proposing o redistribution
OF the currency. 1t seems evident from
all the facts which have SO far transp,red that Mr.
Boutwell, in lurthering his plans of funding the
national debt Is determined TO bring the prices Of
the 1ve-twentes and gold together. Hence, despite
his need OF currency ne keeps his gold sales steady
and increases his bond purchase5-exacuy contrary
what would be Inferred from the condition OF the
national Treasury. However, as Mr.. Boutwell, has
right to make the best bargain he can in the interest
OF the government, his policy may be perfectly cor
rect in thus Keeping his real plans out of sight
Should he on Thursday next accept all the bids for
gold that may be submitted 1t Ia evident that In
falling market he Is employing the best to get
the highest price for his treasure The possibility OF
this fact strengthened by the reduced condition OF
his currency balance, led to pressure to sell gold
end the price fell to il5 The course OF the market
during the day was AZ folloWs:--