The New York herald., 1870-03-11
THE GOLD SENSATION.
Decline and FAN Of tho Golden Empire-Condi-
tion Of tho Market Yessrday--Among the
Safe Deposit Vaults Of tho City-Largs
Amount OF Specie in New York
Popular Impressions.

Gold was permitted to rest In state OF compara-
tive equilibrium yesterday Yet the Gold Room mad
us usual appearance as nursery for unqulet chil
dren Tho brokers made various noises. said by
some cynical person to be gwen in imitation OF
the prowlers OF the forest. and seemed to subsst
upon their own intermlnabe loquacty.
II an innocent person, bent upon investigating the
tension OF the human lungs were to visit the pit OF
COLD Room he would, no doubt, ind these useful
bodies In their highest OF elasticity. At any
hewould nnu tongues far possessing the properties
OF lnoa rubber that he would only wonder that they
40 not come IN material, as they often do in vocal
contacr. These tongues, picked by long
sArURATI0S IN FIGURES,
I'LL" "if,n 'II," T1"going 'Iln-scem to shoot
the price OF gold about Unfortunately, and the
result has been that many operators have been
perforated In the recent decline. 1t viii
be necessary to give up the Gold ROOM they say,
when gold touches par. aud thus one of the most
interesting barr00ms in the city viii be closed.
DespariDg or selecting grain OF good sense out or
the chaotic Gold Room the reporter went in search
OF Information among some OF the mighty magnates
OF the banks. visit was paid to
TIE VAULTS or THE PARK BANK,
where the gentlemanly manager was found.
REroRrER-Have there been any gold deposits,
unusually large, placed IN your vaults as o conse-
quenCe OF the resent declines
MANAGER-No, SIR; no movement OF that character
has been noticed. Gold deposits are comparatively
small
visit was made to the vaults OF several safe de-
post companies. but in no instance was II found
that there has been any marked increase in the
hoarding OF god. III gold were being boarded II
could be done without the knowledge OF the safe
deposit banks, Us every patron can place his vau-
abes beyond the espionage OF the bank oliclas.
II ls hardly likely thar capitalists are loading
up'' for rise IN gold. II such a state OF things
existed the evidences would soon come to the sur
face.
The reporter succeeded In obtaining an interview
with responsible oficer OF the Fourth National
Bank. He stated that the banks OF the city now mold
more gold than they have had for years About
S5s,o0O 900 Is the sum deposit In New York. inis
ooes not represent the actual amount Of coin IN
OF gold certificates ana coin. The gold cefIincates
issued by the Sub-Ireasury TO tepositors Of gold
make about $35 100000 OF tnts amount, leaving the
banks In actual possession OF S23 900 in coin.
GOLD WAS NEVER MORE PLENTY
than now and this Is because the Treasury policy
has changed. Formerly the department desired to
hold coin, but now wish TO throw 1t on the market
The Fourth National Bank yesterday had about
the same amount Tho former Institution is chiefly
for brokers and tue brokers all show heavy balances
ing why many failures nave not been
reported In Wall street should remem-
This is manifest from the plenntude OF gold and
from the fact that there nave been no strong at
tempts at .'corner.n Then there no demand for
gold; the short interest evidently does nor want
much OF IL; merchants are not short, and gold from
its own weight has sought natural equilibrium
Speculation may cause It to vibrate. but rom the
large amount the market 1t will settle at IT'S state
OF positive rest, which Is little above par.
THE FEELING OF INSECURITY
among heavy wholesale dealers In all departments
OF trade Is intense. Operators feel that
u DANGEROUS commodity until the finances are firm
and staple Brokers IN cotton ana other produces
feel the decline In gold severely. No interest how
ever, has suffered as much as dry goods. This de-
partment OF trade has gone TO sleep. A. T. Stewart
u IS asserted. Is the only merchant who has done
active buslneaS and hts operations have been car
ried on BY forced sales.
THE DEPRESSION EVERYWHERE
Is only an internal sluggishness, nat.
nral c0nc0mitant OF falling market, which
Will soon be dissipated IN prosperity. 1t
il believed that should gold soon reach
par there every evidence II will the vol
ume Of circulation will be increased and the insane
mania OF gold gambling will cease to hamper the
mercantile and commercial interests OF the country.
There Is keen eye everywhere watching the move.
ments Of the market, and feeling that gold mer-
chandise Is about to expire after n0madlc and
eveutful life OF ten years. Gold opened yesterday
Ill and closed after rapid and extreme fluctuations
at 111K.