The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-03-09

Friday last was field-day i'm tho New York
Gold Room. The thrOng Of anxious spectators
In the galleries, and the excited movements of
the brokers, recalled more vlvldly than any
subsequent period the September panic Of last
wear. The announcement that advices had
been received from the Washington Bureau OF
Statistics, Stain. the balance Of trade against
the United States ns only Two millions OF dol
,ars for the six months ending December 81,
1868, took Wall street by surprise. Though
regarded. by many aa Incorrect, the downward
tendency of The gold premium was accelerated
by the report, while the wcnkncss of foreign
exchange and tho glut OF commercial bills
were also successfully employed to dcIn0rnllzc
the bull element Of the Gold Exchange. Tho
New York Sun OF Saturday myB:
THE uOi.D ROOM.
A majority OF the spcclial0rs OF tic Gold
Room are Operating for u decline, covering
their short Interest whcncvcra u small mnrglil
of profit Gun be realized. A new short Interest
" igaln put ont, md II new covering of The
same follows; this process bclng repealed fro
qucnily during the day, nnh according 10 the
temper of the market. nrgc number Of The
operators also attempt TO follow tho clnnglrg
current, and by their efforts grcnIly ns1ist Tho
varied nuciliatlOns. Prominent Importers,
who purchased gold among The Lwcntlrs nnd
WHO have followed tho market down for tho
purpose of averaging their l0sScs hnrc lur
several days past aisO been unloading, in tho
hope of buying again nt lower Prices When.
cvcrany long gOld was thrown upon The innrltrL
the operators In the Gold Room lnvc quickly
suspected the fact, and the
STAMPEDE IN TiE PREMIUM
has been greatly assisted by their efforts. Tho
various cqucs who have been operating IN
the market since the prlcG touched 20 have
also tumbrd over their purchases nj luss,
and turned active hears, In the hom OF thus
retrieving their losses, nnd Iurco The prlco tn II
point at which an upward movement could be
successfully manipulated. The whole tone and
temper of the country, however, IL In fnvor
Of u
DECLINE TO PAR.
and the various crude theories presented TO
the public 10y enthusiastic flnahCiers, In Con-
rrcSs and the country, seem destined TO DO dis
tanccd by the nltilra. result OF growing C0nIl-
dence in the ability and integrity of the gov
ernment to meet Its obligations. Tho effect
llpon trade and the commercial Interests Of
the country, when gold touches par, Is begin
ming to receive the thoughtful consideration
of business circles, and al nre surprised aL tho
case with which the downward movement Is
FASTENED. Cold had no friends yesterday In
Wall street, and the requirements of the pre-
cious metal for The purposes OF traue have up.
pcarcd nominal for many weeks.
We learn that number OF the lcudng banks
have been recently free purchasers of silver
coin ut the counters of bullion brokers, intend
ins next week 10 pay ont silver In small suns,
instead of currency stamps, aS heretofore. On
the other hand, there arc large amounts DI
small rold and silver coin being sent to bullion
dealers, unlocked from the boarding of years,
but now rushed TO market To secure the still
remaining small premium.
SPECIE PAYMENTS RESUMED.
The steady decline in the gold premium has
been followed BY u corresponding decline in
the premium on silver coin, which rules about
three Irr cent below gold, and c0nlIlrlIIIls
uIOnL ten per cent premium over paper
This decline has led many dealers to avail
themselves Of the 0ppnrlnnilJ To create s"n
sutton and "lin popularity hY paying ont TN"
bright, ringing coin over iilclr co'lulrr: ;llld
thus .ladhcnins ilc eyes AMI hearts of l!lri!'
customers. Conspicuous among tlis'S. WASH
shoe dealer Oh Broadway, near Liberty sl;'r;
who Yesterday pacanlrd the front OF his Sinj,
with the announcement HAT bilrcilaSr!s woI!
receive change in silver VI course Ir 'll 4
rushing business throughout tll" dty. :,a ! in
stead Ul havim" hc stock ri .orls lril Oh
hand To be- IN. ,td by II general decline in
prices, materially reduced hi; stock NJ goal
prices ANA made money II; well. A rrsl,rlr,-
inur in the vicinity of ihc Cold Room fortified
himself with Il quantity OF dime: an qntrirrS
in The morning, an'l throughout tile day plid |
Them out in change. ficl which, Oh becoming
known brought him an unusual rus! of ca'-
TONERS, and gave lima very large extra trade.
THE coXrAGioN SPREADING.
The examples sci Yesterday b.. The few will
l. % ......u...Il,. t;,lnm.nd tn-lnr nnl nnHt