National Republican., 1886-01-02

weeks since, at low rates OF interest, have
heen called In TO u great extent. The de-
mand for specie for payment Of duties has
already been large.h
The next day the Herald reported dis
position In Wall street to sell stocks I'm the
absence Of further gold news.
The financial column on Feb. stated that
"s0 far, the California excitement has had
rather an unfavorable influence upon the
money market by the demand created for
specie for shipment and for the purchase Of
provisions, &c, for the many vessels and
passengers alre dy on long voyages"
The Herald Of the next day, editorially,
said the California gold fever had already
created demand for more ships, and in
creased 80 per cent. "withln one week
freight rates Of every kind.n
An improvement In the stock market was
also reported.
The Herald of March 4 reports the ar
rival OF the long-looked-for steamer, Cres-
cent City, which, TO the disappointment Of
the public, and Wall street IN particular,
brought little gold, which, however, "gavo
an upward impetus TO stocks.n
The Herald OF May 81 reported IN It's
financial columns for the previous day that,
Notwithstanding the receipt Of much favor
able news from the California gold mines,
the stock market opened heavy, and prices
fell of n fraction.
arrival Of $500, 900 worth OF gold aud adds
that "the influx OF gold from California
which has Just commenced has been up TO
the present time an injury TO us by drawing
too largely upon our capital and resources;
but now we shall be benefited by II and II
will add immensely 10 our wealth.
The Herald Of June 10 said that the
California gold news the previous day had
very favorable influence upon the stock
market.
The Herald OF the 18th said that al the
present rate Of gold production no great de-
rangement OF commercial systems need he
expected nor will II greatly influence
prices.
The Herald Of July reported that the
gold news by the steamship Canada was
| "favorable for this country, as q slight Inn
| provement Is apparent In some OF the lead
ing stocks. American securities are well
and firmly held In England. To-day, how
ever, stocks fell of considerably and closed
dull.n
In an editorial on "The Intelligence from
California; the Herald said on July 20:
"An important feature is the fact that pro.
visions and merchandise OF all descriptions
bear very low price and can be purchased
at rs low rates as rule on the Atlantic coast
for the same articles. When We consider
the vast sums that were invested IN adj
ventures OF goods to California and the
great number OF vessels that were freighted
thither with such articles as are now selling
there so cheap, we must infer that serious
losses have been incurred by those who en-
gagged In the business and that more or less
Insolvency and bankruptcy will ensue.n
In its financial article for Aug. 9 the Her
aid said "The stock market is literally
dead, and II appears impossible to galvan
iZe IL into life.n Several days later II was
reported that the prices Of stocks were still
downward.
The Herald of Aug % stated that thu
shipments Of breadstuffs for the previous
week were unusually limited.
On Oct, 10 the Herald said the influx o
gold from California into Chill had causet
such decline in its price that a sale to th
mint at Santiago yields more than one 70
export to Europe.
The money market was tightening ant
the rate Of interest steadily advancing ol
Dec. 23.