were the compulsory terms on which money could alone be borrowed to carry stocks over Sunday. "On Monday the 27th the Gold Board met, but only to be informed that the Clearing-House was not yet ready to complete the work of Friday. Important accounts had been kept back, and the dealings, swollen in sum-total to five hundred millions, were beyond the capacity of the clerical force of the Gold Bank to grapple with. A resolution was brought forward proposing the resumption of operations Ex-Clearing-House. The measure took the members by surprise, for a moment quivered between acceptance and rejection, and then was swiftly tabled. It was an immense Bear scheme, for no exchange can transact business where its dealers are under suspicion. All outstanding accounts require immediate fulfilment. Failure to make good deliveries would have insured the instant selling out of defaulters 'under the rule.' As the majority of brokers were inextricably involved in the late difficulty, the only consequence would have been to throw them into bankruptcy, thus bringing some $60,000,000 under the hammer. The market could not have borne up under such an avalanche. It was decided that the Room should be kept open for borrowings and loans, but that all dealings should be suspended. One result of this complication was that gold had no fixed value. It could be bought at one house for 133 and at other offices sold for 139. The Board thus proved its utility at the very juncture when least in favor." XVI. THE FERRIES. Including the Harlem, Staten Island, and Elizabethport routes, there are about twenty-five lines of ferries plying between New York and the adjacent shores. Ten of these lines are to Brooklyn, two to Hunter's Point, two to Green Point, one to Mott Haven, and one to Harlem, all in the East River; and five to Jersey City, one to Weehawken, one to Fort Lee, two to Staten Island, and one to Elizabethport, all in the North River. Thus there are sixteen lines in the East River, and ten in the North River. The boats are large side-wheel vessels, capable of carrying pedestrians, horses and vehicles. The fare to the Jersey shore is three cents, to Brooklyn two, and to Harlem and Staten Island ten cents. On some of the lines the boats ply every five minutes; on others the intervals are longer. The Staten Island and Harlem boats start every hour. The boats are generally handsome, as well as large. Nearly all are lighted with gas, and at least a score of them are to be seen in the stream at any time. At night, with their many colored lamps, they give to the river quite a gala appearance. The Fulton, Barclay, and Courtlandt street lines run their boats all night. The others run from 4 A.M. until midnight. The travel on the various lines is immense. The aggregate is said, by reliable authority, to be upwards of 200,000 persons per day, or about 75,000,000 per annum. Many of the boats carry from 800 to 1000 passengers at a single trip.