Year: 1870

Experience on 'ChanRe NowadRys-The Be-
lated Bulls and Bears - Gold Down to
II2 Us
The decline in gold was the great topic yesterday
IN Wall street feeling prevailed for several days
before that the standard OF values II might 3e SO
around in the neig6borhood of l2O. 1t touched
1872. before the day closed. the persistent Ten;
dency, however, OF gold 70 descend aH causea Li AL
Yesterday the scene OF as much turmoil as
characterized the famous days OF the latter part OF
last September. All the bulls could do failed TO
afTect the heavy gravity OF gold The Gold Room
was a place of most extraordinary excitement.
resort of the untamable bulls and bears FLASHED
AZ peacefully as usual, and sent It's ireshening
Of s the weary a TS9 tSs ST
and bears behaved yesterday would have con-
founded the most intelligent foreigner. They
at each other, as if each was about 30
fly at the others throat, shouted louder than
it was thought possible human lungs could with
stand, and otherwise behaved in very bewidering
and derious manner. 1t was generally admitted
that the tendency of gold was downwards; but few,
however gave credit to the notion that it was about
to descend at once TO par. To reach that point II
was easy enough 70 PepceVg Pa, s shat MY derens
the Treasury, the likelihood OF imports exceeding
the figures at which they have been recorded In the
last quarter, the suspense felt in regard to
Congressional legislation and other things that
make an element in the aggregate influence.
Nevertheless, belief appeared to prevail
that gold was destined to go 10 100 in rush. and,
a consequence, much trepidation was felt among
those who had nel0 imported SJOckS purCnHSeu AT
higher rate than 129 Yet after all, 1t may be safely
set down that eur merchants, who feel themselves
somewhat imperilled by this rapid and low decline
OF gold are better satisfied, though they may suffer
in the ordeal, to finances tending quickly TO
their normal basis than If they had TO walt the
tedious process OF Governmental resumption OF
specie payments.


crowded to sufIocation with an anxious or curious
outsiders. In the pit below, or, in other words
in the where the gold brokers yell like
set OF devils all the interest centered. The din
was perfectly terrific. pantomime OF FOxs, with
all the harum scarum elements exaggerated, gives
but faint idea of the utter confusion, the madness
controlled by method that characterizes the Gold
Room. They shouted across the fountain space like
so many maniacs challenging each other to more
than mortal combat. They did not tear their hair
or pull their fancy whskers to pieces, but they
strained their vocal powers to breaking The spec.
tators were as much excited as the operators, and
ifthey only had little training in the ways OF the
cemght have gone in as ardenty as the others.


At the Cotton Exchange there was a good deal Of
excitement also, for, sympathzing with gold tht
great Southern staple had declined several cent
per pound, and many brokers were unusually eXer
cised in the endeavor to dispose OF their orders t
advantage. Gold will continue to foster excite
ment some time longer in Wall street before it i
finally quieted and brought to its legitimate level.


NJ y, Herald tO-dGN