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The Daily Dispatch: September 30, 1862., [Electronic resource], From the North. (search)
Wall street to fear that we could find no escape from our present dilemma except in an unexpected prolongation of the war for years instead of months or in a speedy and permanent dissolution of this Union. In the midst of this gloomy distrust, Mr. Cisco's offer to receive gold on deposit for the Government at four per cent. interest, frightened our bankers, and the fluttering began. We do not see why this excitement will not continue, and gold — and consequently stocks — rise still higher. The causes remain the same, and what should alter the result? Mr. Cisco must obtain gold in order to pay the specie interest upon Government paper; and, whether he receives gold on deposit or goes into the market and buys it outright, the rise in gold will ensue all the same.--Neither will it be possible for him to refuse any deposits over six millions; for upon such a refusal the gold already deposited with him would be immediately withdrawn. Thus the occasion of the excitement must remai