New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-02-05
SECOND BOARD 4.
SATURDAY, Feb. 3-P. ".

SATURDAY. Feb. 3-P ".
The events of Wall-st. during the past week
have not been especially significant For the greater por
ton OF the time the markets have been noted for respect
able dizziness and sagnation-in many cases one DAY
being but the repetition Of its immediate predecessor
The gold market attracted at times considerable atte
ton and under the influences OF lower and unsettled quo
taons London and the Continent, growing out OF
fevarish apprehensions lest the Geneva Conference
should not succeed in satisfactorily adjusting the Ala
bama claims question, the price worked mp rom
1924 IOl The upward tendency derived support from
the xpectaton of advance in the rate OF discount ny
the Bank Of England Stress also laid on possible
complications between the United States and SPAIN
growing out Of efforts for the recognition ofbegerent
rights in behalf Of the Cuban reyouonsts The gold Dus
also made Of the large customs receipts nj TINS port
the failure of the late bond negotiations in Europe and
finally the pet theory that the balance Of trade Is against
MS They the most OF all these considerations aud
vet the premium gold only moved up even tenn
porarily OF one per This proves most satisfac-
tory that the general sentiment OF the public fayors
low gold and that all the adduced for higher
price are to their lasting or legitimate effect
II proves that the mass the people ia return to
specie payments; and why not Have we not carried
this cbilds play Of treating irredeemabe piece OF
paper as a real dollar about far enoughf Who is de-
ceived by Who does not know that we cannot meas
ure real values by elastic yard stick which il of one
length today and another tomorrow Is a bond or a
| house, or any other piece Of property which
J will sell for 100000 in gold OF any fgeater
real or intrinsic value because can to-day Obtain
s22NO in greenbacks for Then why not he honest
and not only say your greenback is worth dollar
| but give dollar for it when deLandedl II the Treas
ury were TO announce to-day that is prepared TO
deem Treasury notes in gold 1t is not at all probable
that s5OOOOOOO in coin would be called for. What your
Treasury bank holder wants To know Is that his
bill presents in the coin OF the country. For
few DAYS there might be for the precious METAL
| ubsi1 nd Of
would no more think OF running the Treasury for gold
| than do the holders OF gold certificates now
| Gold would OF be drawn from the
| Treasury when wanted for actual and tho
| gold specuators would have opportunity for turning
their attention TO more useful, If not profitable,
| employment There those who, before the meet
ing OF Congress looked hopefully that body for the
Inauguration Of measures in the direction ~ resump-
tom they looked in vain. The majority in Congress
will shape their financial legislation with reference to
its effect upon the next Presidential election. And
whether they he right wrong in their opinion unfor
unatcy the OF specie resumption. they have
the conclusion that such measure would not be
popular with the people. So must look To the people
! themselves for the equalization of greenbacks
and gold. or wait patiently tilt after the next
| Presidential election. The bull speculation in
! gold to which have referred but
short lived the supports being knocked away the whole
| fabric came the ground. The bank rate not ad
| vanced and the vote in Congress Thursday sustain
ing the SecIetaH OF the Treasury in his operations
| abroad in marketing ssOOO0eo Of the loan last
wear give hope that the obstacle hitherto standing the
way Of u successful negotiation OF s6OOOOOOoO the
Rotlschild proposition 0naking the interest payable
abroad may also he removed These later considerations
caused reaction in the premium 10 It's starting point
and have doubtless for the present nj least quashed
speculation government bonds then there has been
desire apparent throughout TO depress prices by
foreign houses in order that might be carried
Though the investment demand has not been large has
been sufficient generally neutralise this effort and
prices have therefore made important variations
The stock speculation has Ibecn tame and sprtess
and either for a rise decline the lacked
arior The ciques. while suffering matters go by de
fault have apparently been idle, but have devoted
the time 10 drilling their forces, making their reconnois
sances and pushing their skirmishers into the lines Of
their opposing forces before giving battle Like skm
generals they prepared their armies for a siege
and will doubtless sci their soldiers at work after am.
pe provisions are made for another campaign. The
| known antagonism existing between the clique
| leaders is accepted by the street as suggestive
| of "A bitter warfare, though the immediate
future is course. uncertain II correctly surmse
the short side OF the market is under the immediate
command OF the late bull who so deIrOusy unlOaded
his stocks about fortnight The bull faction we
understand is marshaled by what calls itself the Van.
derb party commanding general OF which division
10 now Tor lately was) In Washington looking after the
tax on the Central scrip certificates The peculiar reti
cepce of the veteran eI-drecor in Erie makes il as i'm
possible TO fully oreshadOw which side his fortunes
hang AZ TO determine with certainty the mprson
ept of flea although at the moment the insect NAV
be directly under your thumb. Under these marches
and OF the cques, the market has been
sometimes heavy, sometimes nrm, sometimes steady
but always dull Yesterday IL assumed cheering
aspect and whole list advanced in bust
nese closing strong and retaining the Improvement To-
day the market has shown continuous strength and ac
In af
rest of the LIST for "a time there slight decline but
under the leadership Of Pacific Mall which has been the
speolatiye card to-day. the whole market recovered
though the advance did not comprehend than TO
Der cent After the bank statement made its appear
ance prices went OF fraction, but the market WAS
quickly rallied again and closed steady D. m. at
which hour. under tho new regime, Saturday dealings
close Erie rather heavy than otherwise owing
desperate pecuniary straits of the Company,
OF the road for the ast few years not
Attending hopeful senr OF regeneration The report
o.yec September made mention Of floating debt