The New York herald., 1870-03-05
THE GOLD TUMBLE.

Experience on 'Change Nowadays-The Be
Inted Bulls and Bears-GOld Down TO
III 1.S.
The decline in gold was the great topic yesterday
In Wall street. feeling prevailed for several days
before that the standard OF values II 1t might
called would enter upon an upward course and bob
around in the nelghborhood OF 12O. It touched
ll2x before the day closed. The persistent ten
dency, however, Of gold to descend caused all
the excitement which made the Gold Room
yesterday the scene Of as much turmoil as
characterized the FAMOUS days Of the latter
part OF last September. All the bulls could do
failed AFFECT the heavy gravity Of gold. The Gold
Room was place OF most extraordinary excitement.
The familiar fountain IN the centre OF thst great re-
sorl OF the untamable bulls and bears plashed
as peacefully usual and sent its freshening vol
umes Of spray over the weary and tired loungers
who hung round its border. The way the bulls and
svd nave SeS s
rally danced ana nowled roared aerceiy
a. eacl other as nr eaen was ondsr a11us tns 20
II was thought possible human lungs Could
withstand, ana otherwise behaved in very bewil-
dering aud deliri0us manner. II was generally ad-
mitted Inat the tendency OF gold was downwards:
but few, however gave credit to the notion that It
point 1t was easy enough to perceive that fifty
different causes lay In theiway-thelsmall share OF
exceeding the liSures at which they nave been
recorded ia the last quarter, the suspense
felt IN regard 10 CONGRESSIONAL egSlaIlOn ana Otnef
things that make element IN the aggregate in1u-
ence. Nevertheless, Al belief appeared to prevail
that gold destined to 60 TO 100 In rush, and as
Q consequence, much trepdat!0n was fell among
those who held imported stocks purchased at
higher than 120. Yet after ALL 1t may be safely
set down tnat our merchants, who feel themselves
somewhat tmperied by this rapid ana low decline
OF gold are better satisfied though they may suffer
IN the ordeal, to finances lending quickly to
their normal basis than II they had to wait the
tedious process Of governmental resumption OF
The spectators' gallery OF the Gold Exchange was
crowded sufYocat1On with xiOus curious out
siders. In the pit below Or In other words in the
arena where the gold brokers yell like set OF devils,
all the interest," centred. The din was perfectly
terrific. pantomlme OF FOX's with all the harum
scarem elements exaggerated, gives but faint idea
OF the utter confusion the madness controlled BY
method,l that characteriZes the Gold Room. They
shouted across the fountain space like 30
many maniacs challenging each other to more
than mortal combat. They did not tear
their hair pull their fancy whiskers to pieces Dut
they strained their vocal powers to breaking. The
spectators were much excited as the operators.
and II tney only had little training in the ways Of
the place might have gone IN as ardenuy as Ihe
Others
At the Cotton Exchange there was good deaf Of
excitement also; for, sympatnlzing with gold the
great Southern staple had declined several cents per
pound, ana many brokers' were unusually exercised
Ia the endeav0r TO dispose Of their orders to advan
tage Gold win continue to foster excitement some
time longer In Wall street before IL is finally Quieted
and brought to It's legitimate level.