The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-03-14
THE GOLD EXCITEMENT.
Latest Gossip from New York.

The wall in Wall street at the sudden down.
fall of gold to its proper level, delights every
body except the greedy gold-gamblers. The
excitement in the Gold Room from day to day
is of the most turbulent nature and the
amount Of money changing hands is almost
fabulous; on every side the wranglng and yell
ing of the operators is kept up uninterrupt-
edly. Even the solitary goldfish which disports
itself in the waters surrounding the central
fountain in the room was shocked out Of his
usual tranquil propriety at the boisterons bel
lowing of the 'bears," and was seen to leap
from the water and utter a triumphal croak.
The SPECTATORS see the throng and hear the
noise-thc confusion of tongues-but they can
not, unless they are experts, tell how the mar
ket is going, though the transactions take
place beneath their noses. The operators
promenadiDg about the room, holding whis-
pered consultations as they meet friends, and
exhibiting, privately, slips Of tissue paper,
which must have been valuable intelligence,
would soon be seen in the ring, working
like beavers at the gold market, while
their friends would apparently assist in the
movement When the precious metal
touched III, on Tuesday, the tumult was
of the most frantic order, giving the
room all the appearance of a Pandemonlum.
Having vented their feelings Of delight at
the continued descent of gold, and growing
rather exhausted, the price reacted and re-
mained steady for some time. A little after
noon the pressure to sell was again renewed,
and down went The price once more, finally
touching log. AS soon as'this quotation was
reached the crowd INDUCED inwll demon
strations fjoy. Cries of ''specie payments
and ..Gold Roomto be closed in twelve days, >
were heard throughout the room. Finally the
excitement subsidized, when the operators
abandoned the field, and retired to their Off
ces to reduce to ineligible shape the rude
memorandums they had made during the day,
calculate their gains or losses, and then go
home ''to sleep, perchance to dream" Of the
battle they must fight on the morrow. A New
York letter of Wednesday says:
The excitement in the "Gold Room was re-
newed this morning. and kept up pretty much
all day, to the neglect Of most other business.
The spectators and their agents are the most
prominent actors on the stage, but among the
spectators are so many of the merchants, that
the Produce Exchange, the cotton market.
and other great centres of regular trade. are
comparatively deserted The Stock Exchange
also may be said to be lying on its oars until the
excitement blows over
The universal feeling now, outside Of the
mere gold gamblers circle, is that the sooner
the preminms SO to par the better. No posi-
BILE shrinkage in values resulting from that
could be worse 10 endure than the existing un-
certainty and the constant unsettling OF
prices. If the action OF the treasury to-day, in
accepting the market price, will contribute
anything to that conclusion, Mr.. Boutwell, will
have the thanks OF ali who are engaged In le-
gitimate trade, and not in the Wall street
"ring"
The export of breadstufs has been brought
to q dead halt, owing to the advance OF
freights and the decline In gold, while the
mediate wants. And what is true Of bread
stufTs is true also of most other branches of
trade.
The restaurants and other retailers continue
to advertise ''specle in CHANGE" but as the
premium they have to pay for the silver is
usually added TO the price ofwhat they have to
sell, the purchaser reaps but little benefit from
resumption.
The uptown dry goods dealers continue
greatly perpeXed. The course Of the leading
Broadway merchant, in promptly accepting
the situation, and marking down his retail
prices to correspond with the decline to ITO, is
compelling smaller and weaker houses to go
and do likewise, much against their inclina-
ton; but, as the effect is to stimulate trade,
there is some Offset to low prices.
In bleachcd shrtinS and sheetings lat whole
sale) certain makes not only resist this down.
ward tendency, but have advanced lala cent
per yard. Printing cloths are dull, caused
partly by the decline in cotton. The nominal
price for G4 standard is about Il cents. Lead
ing makes of ginghams are cabled at la2 cents
ger yard lower. Lancasters, II cents; Gale
inclined to force sales Of foreign goods.