The New York herald., 1870-04-23
FINANCIAL and COMMERCIAL.
WALL STREET.
FRIDAY, April 22-0 =. M.

WALL STREET. /
FRIDAY April 22-0 +. M.
Recent deve,onments concerning the effort TO
create excitement 10 the Gold Room show that the
scheme TO advance the premium was more wide-
spread in its character than at first supposed. IL
was the lack OF susceptibility on the part OF the
speculative fraternity that prevented semipanic
among the "bears" IN GOLD. 1t Is announced from
washington to-day that an investigation mas been
ordered with view to discover the authors Of the
bogus kilograms TO the naval authorities ct New
York and Boston. II is to be hoped that the inquiry
win be successful and the conspirators detected.
Every honorable broker in the Gold Excnange Is
anxious 70 have the guilty parties ferreted out.
1t Is curious fact but not the less true,
that business In the long run is checked and cur
tailed by the operations Of these outside gamblers
The gold corner OF last September and the contem-
poraneous panic In stocks have resulted in driving
thousands OF buyers from the street and reducing in
a corresponding ratio the business Of the brokers.
The advent OF reckless and unscrupulous operator
snot hailed with any feeling Of delight BY the egiti
mate dealers Of Wall street. For tho one who keeps
him company IN buying stocks there are hundreds
among the general public who defer investment
while his transactions keep the market excited.
TIE GOLD MARKET STRONG.
The dealings In the Gold Room were on limited
scale the market relapslng into dulness in the reac
ton from the news Of yesterday. There was gene.
raj canvassng and discussing OF the Spanish war
kilograms, during which business seemed to be
temporarily given up. AS the day wore on the bull
party who, as supposed, did not "get out' Of their
gold began to advance the Market which had fallen
TO l12A in the early dulness and in expectation OF
decline, resulting from the prepayment Of the May
Interest the public debt But the money market be-
coming very easy and foreign exchange closing hrm
the clique advanced the price TO Il3, some OF the
shortsn having been driven to cover by the scarcity
OF cash god the "bus'' in this feature showing un
w0nted control OF the market the impression gain
ing ground at the same time that the European
coupons now en- route for this country Will absorb
large proportion OF the gold coming from the Trea-
sury on anu after Monday next Meantime the
"bearsn had made full use Of report from Wash
lngton that the Banking and Currency Committee
intended reporting bill TO contract the three per
cents and greenbacks to the extent OF $4,000 900 as
preliminary TO an expansion OF the national bank
currency to q like extent. But here the "Dulls"
announced that the Ways and Means Committee
would Kill the Funding bill to morrow and gold be-
came firm again. Indeed, the struggle between the
two parties reminds one very much Of sharp legal
debate between TWO good lawyers. For one spell
the pla intir seems to be undoubtedly correct Then
the lawyer other side goes to work and takes
the jury to his side OF the dispute. The "bulls and
bears are. OF course, the plaintif and defendant
in the present trial of wits in Wall street. The ar
gument one side, in favor OF higher gold, is CON-
plete aud iileiutable until the "bears make sOrtie,
when specie payments seem probable within the
shortest possible lapse OF time. TIE course OF the
rLoti 10 CHI I'm tba tnhl