The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-03-15

The maniacs Of the Gold Room would seem
| to be gradually recovering Nheir reason, else
| they are calmer to-day from the effects o1
sheer exhaustion. Certain 1t is, there Is COM
| paratively little excitement, while the pre-
MUM is LETT to straggle back to point be-
| tween II and IL. The talk is that the power
| full clique who have been bearing the market
are disposed to withdraw from gold, in order
to engineer an upward movement in stocks,
bnt all such gossip must be received with eau
| ton.
Another story is, that operators here have
received some new s!points" from Washington
concerning the Funding bill, the effect of which
is reactionary on the premium. The mer-
chants, meanwhile, continue in q state Of per-
pleXity. Sometimes they think the premium
will go higher, and sometimes they think 1t Is
just as likely to 60 the other way. They would
give anything to know, as anything would be
better than the existing uncertainty.
Retail dealers continue in many cases to pay
out silver in change, though not to the extent
that some of the newspapers report. One OF
two of the downtown restaurants have given
up the experiment. They, say 1t paid well tor
a day or two by bringing them extra business,
but now that the novelty of the thing has worn
off, it has ceased to be profitable. The ''Cheap
Johns" in the Bowsry, Grand street and DlVi-
sion street, are paying out small amounts.
The remarkable ease in money continues.
This sllperabundance of capital at this season
of the year is not considered healthy sign
It indicates stagnatlon in trade, and the foster
ing of speculative ventures at the expense OF
regular business Call loans range from to
per cent. Choice commercial paper passes at
7as per cent; approved single names 7al2.
The following extracts from New York let
ter OF Thursday, to the Boston Post, are inter-
esting:
Trade is almost at dead halt, In conse-
quence of the great decline in gold. The
whole market has been unsettled; everybody
is expecting lever prices, which are pretty
sure to come, and there is general disinclina-
ton to buy. The great dry goods houses
which have been fighting like tigers the past
two weeks, are busy enough, but the second
and third-class houses have scarcely anything
to do. The impression that we are on the eve
of specie payments has fixed itself on the popu-
lar mind, and though regarded by many tinan-
ciers as delusioD. 1t operates just as inju-
riously on storekeepers as though 1t were per-
fecty sound. There have been, as doubtless
You are aware, several attempts at resump-
tion in saloons and restaurants, but they
don't amount to much thus far, and they
may be abandoned when the novelty wears of.
Opinion Is greatly divided as to the probability
of gold remaining at par If it goes down to that
point. Many Wall street men say 1t will go up
again, and outsiders generally talk about In
vesting for rise. If they do invest, hope
every man Of them will be bitten. 1t Is about
time to wind up this business Of speculating In
gold, and no man who tries to keep 1t going,
and loses, will deserve sympathy. Those who
take the other view say that as there VIII DC
but little legitimate demand for gold, the
nrice will not advance. l know that some
men who have received specie In change dur
Ing the past few days are tired OF 1t already
and say they would prefer carrying stamps
And so think it will be when specie pay
mcnts are generally resumed.
| The real estate men carry terribly long lacet
about with them these days. Houses and lots
of the fancy class, are coming down with {
rush. It Is almost impossible to make sale a.
anything like the prices ruling year ago. A:
| au indication of the state of the market, may
mention the sale of the Northern Hotel at TIT
corner of Cort!andt and West st -eetS, ycster
day, for SIS, 900. For the same property $40,
600 was offered last month, and the owners 50.
they could have got $3.50, 600 two years ago
Bnt the general decline has not been 90 grea
as this. On frst-class prope.ty up town, Il
about fifteen. Owing to the heavy state OF TIL
market, only those who must have money ar
selling, the others pretcrring to hold on tll
clearer weather comes. Many OF the mouse
offered at auction are withdrawn, the bids oe
inr almost too small for notice. VI collrFe
with the market value OF houses coming cow
SO fast, there is general expectation tha
rents will full. Thus far there has not pcel
much decline in these, but as only q few house
have as vet been rented, and thousands are II
the market, there will probably be heay
abatement before May, and as wages and sala
ries are sure to be reduced, rents must, 9
necessity, come down. House room is Away
a cash article, and cash purchases are alway
regulated by the means OF payment.