The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-04-05
A Larger Bear"

When the countryman had gratitied his
curiosity by paying twenty-five cents to see
the American BEAR" he sailed forth fur
Their to note the wonders of the city. Com
ing to German restaurant, from which hung
the sign Lager Bier-tive cents" he was
indignant ut having paid twenty-five cents to
see bear when there was larger one to be
seen for five cents! So now, after having
been watching the antics of the bears and
bulls In Wall street, we lind that there are
larger and more powerful animals which cast
our old acquaintances into the shade, and
cause us to regard them with contempt. The
bears and bulls of Bond street, London, have
appeared In Wall street and driven the bulls
and bears there to their corners.
We published yesterday IN account of the
manner in which London capitalists have at
last appeared quite actively and effectively in
Wall street. from New York correspondent
Of the Cincinnati Commercial. We credit
this account as truthful. The intercourse
between LonGoN and New York is SO very
intimate that eyehts ilr the money market OF
either directly interest," rhe other. The solid
and sober capitalists of London mustassursaly
have grown very tired of the crazy ups and
downs of the New York gold and stock
markets, and it may be supposed chat quite
naturally they felt the necessity of protecting
especially themselves and possibly fac com
mercial world from the unprincipled New
York rings. London is now deeply isser'
sted in not only State and Fedora
stocks, but also In the stocks O
American railroads, and cannot well afford to
allow their values to be ut the mercy of the
gamblers of Wall street. And when we are
informed that these solid and accomplished
financiers have entered New York, and By the
help of the cable brought their skill and vast
means to put check upon the gamblers, we
are prepared to believe it.
London capitalists, it is true, as everybody
knows, have dealt for years In American
stocks; but 1t Is only of late that they are
understood to have entered the market AS
though they were present at the stock boards,
throwing In their means to take advantage of
attempts of both bulls and bears. to change
the rates Of stocks, by stratagem and fraud,
for their individual benefit. The filstnotable
evidence of this active interposition from
abroad Is said to have been on the occasion
Of the recent excitement concerning Erle
stock, the larger part Of which Is hela 10
England. In that the English capital made
itself felt, 1t Is understood, quite to It's own
advantage.
This new movement eaauot be regretted
1t will have u good effect. Such "lld ant
fraudulent actions as have characterized th'
transactions i'll Wall street for some year
could not have failed to disturb money MAJ.
tiers id those countries with which our com.
merce is active and intimate. They must
have been greatly annoyed by the events in
Wall street, as well as by the rascality of rail-
road management, the watering of stock,
etc. For their protection it became neces-
sary that some means of putting break upon
the reckless course of American speculation
should be employed. And this necessity has
been met, and We may welcome the larger
bears and bulls as arriving opportunely and
as promising two great advantages: the in
PRODUCTION of more capital into the country,
and the better regulation Of money matters
relieving the country to some extent from
those causeless sensations and wild specuIa.
tions which are so demoralizing in their in
fuenees upon the public mind.