Year: 1870

WALL STRIEr, |
WEDNESDAY,. Oct 1875 p ii.
The interest manifested IN the revived speculation
IN Wall street was attested by no better sign than
the presence OF SO great throng at tho Stock Elk.
change today, despite the dreary ana dismal state
OF tho weather. The Long Room was foggy with tho
yapor from the smoking garments OF the crowd; the
tied floor was marsh OF muddy water; dripping
umsrellas constantly contributed to the "demniton
mosr, unpleasanp' state OF affairs. But above all
rang the no.so and din Of business Old brokers and
young brokers shook hands and congratulated each
Other on the resumption Of activity and the prospect
OF an unlimited supply OF "orders.n


GOLD sTRoNG--ll3I A ia


Inasmuch as the course OF events hinged to q
considerable extent upon the influences affecting
the gold Market 1t Is only proper to begin the mar
ratve of the day with the story OF that department
me great oosinacy which gold h4s shown In tho
interim slce our clyl war II due In lirte degree
10 tne constitutional bulshness Of those who viii
never believe In the stability OF our government.
Politics has word describing this class OF people.
It's synonym IN the Gold Room is "bull.n Nearly
oil the commercial failures since tho war have
been due to the fact that the tankrupts
could not aud would not SEQ tho inevitable
consequences OF tho steady recovery OF the country
from the prostrauon Of the war and OF the enter
prise ana pr ospery bcgotten OF the reign OF peace
Tho parties who have thus interrupted the national
progress of the financial situation and endeavored
10 throw obstacles In the march to the resumption
OF specie payments have called out equally pow.
crful class OF spectators, whose combat in the arena
OF the Gold Room to-day unusually interc sting.
IL Is speculation In gold which Keeps 1T from It's real


level There are, OF course, legitimate transactions
connected With tie sale or gold for delyery but s
the sale without corresponding mercan-
tie transaction that makes gold unnecessarily
scarce The "bus" In gold created strong
diversion this afternoon by suddenly circulating q
rumor that they Intended to make ''squeezen to-
morrow, and the '.bears'' were so frightened that
III. while others, bravng the threat, engaged their
gold for tomorrow at rates ranging from Lie to
1872. It s, Of course, impossible at this time TO say
what may be done; but in view OF the fact that Sec
rotary Boutwell, viii probably order tho prepay
ment, without rebate, as early as the 18th inst OF
the November coin interest on the public debt
the movement may be simply for the purpose
OF enabling tho bulls" to unload before the
government gold comes on the street and breaks up
the stringency In the gold loan market. At this
season OF the year. with the cotton receipts increas-
ing from week to week aud with constantly increas.
Ing exports Of produce Of all kinds, is against all
logic that gold should advance. If the "bears" are
madc to pay for their indulgence in the temptation
| TO speculate against the decline tho public will
thank the bulis" Bat that the triumph OF the lat
ter Will be sortlived Is obvious. Tho public VIII
| thus see both sides Of the speculative light pun.
ished. The course OF the gold market Is shown IN