The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1864-04-08

ply "let in" as the phrase goes for fiftv
or hundred thousand dollars, in any ex-
tensive operation based ON the news thew
furnish. Thus, news comes of q great dis
aster. 1t will shock public confidence and
send gold up two, three, five, even ten per
cent. One of these correspondents of a
great New York stock operating honsa
gets it few hours before it becomes put-
lie. He instantly prepares some previous.
ly agreed upon Dispatch" Mary is very
much worse, and the doctor gives the case
up,"or "John is very i'll, and will not be
able to travel for some days yet and
telegrapbs this innocent looking message,
not to firm in New York, for that would
arouse suspicion, if there were a censor of
the telegraph office, but to the private adj
dress OF some one of its members. or to
the confidential clerk, or even, in some
cases, to the wife OF some one of the house.
They begin buying gold at once, cautious
~, and through as many third parties as
possible, TO avoid creating panic and
among their other purchases, make one of
fifty or hundred thousand for the man
who has furnished the news Next day,
or perhaps within few hours the news
gets out, and gold goes up, say five per
cent. If the correspondent has been "let
| in " for a hundred thousand, he pockets
! FIVE thousand as his share of the opera
ton. Occasionally one of these cores
pondents makes such lucky strike much
more often he furnishes news for weeks
and months without its having such an eff
feet on the market as to bring him more
than the merest driblets ofprohts. But the
ILL.,, g { IL
facinations, and the stock operators have
no difficulty in inducing well informed
| people to furnish them all the news they
get. These men haunt every lobby and
committee room. A conference committee
reaches g conclusion on some important
question, affecting gold, or stocks, or
whisky, or any other article OF speculation.
| They imagine it a protOund secret, and
are startled q day or two afterward to find
| that some operator in New York had it
! within few hours after its adoption, and
| that fortune had been made out of the
intelligence. The Supreme Court makes
decision; before it is pronounced a
| "ring - in New York las operated on its
| effect, and made enough: TO set every one
| connected with it up in the world. \
| bureau at the government resolved to re-
c~rnmend a tax on a particular article be-
| fore recommendation reaches Congrt IS
certain the parties in New York buy up
! all the articles they can possibly get, and
| when the rise comes they pocket the pro-
cee,:s. Il seems utterly impossible to pre-
vent this. When news Of important bat
ties i coming in, go"ernmenr has some
times attempted It, Int the effort was as
| Idle a. it was foolish 4 censor has been
established in the telegraph office, and he
has wisely suppressed every dispatch say
Jag anything about the war. But a SER
want girl comes in with hurried scrawl
| on a torn sheet of delicately scented French
! paper, IL ladys hand:
George II. NJ ntgon cry, Fifth Avenue
Hotel, New YORK Do come at once
Mary cannot live twenty -four hours longer.
Loura Montgomery"
How can he stop that? Bat George
Montgomery is myth, and Marys illness
means HOoker's defeat, and he hotel clerk
has been instructed to send any such dis
Patch by the apeediest means to somebO-
dy's bank down town; and the firm makes
the money, and the government censor g
blinking like an owl over the dispatches,
and rigidly stopping everything relating
to the war;; and Mr. Stanton telicitates
himself over having made those newspa-
per pests send their accounts by mail ra-
ther than by telegraph elbow little
sense it takes to run government" said
some wise man.
Once, during last summer, a leading
newspaper editor got disgusteIi aud deter
mined that the gold gamblers should rot
rnononolize ali the rows. So he went into
the cipher business, too, but being rather
raw at it his first effort was not quite so
good as some subsequent ones He for
warded the cipher to his leading Washing
ton correspondent. Pretty son the ope-
rators in his city, who knva; him solely as
a devoteG newspaper man, was astoHisEed
at having received for him this dispatch
from Washington
Have sold for You fifty thousand bushels of
corn ut 50. The market looks sgually.'
His paper announced the next morning,
that tie main body OF Lees army had
crossed the Maryland line. and wa NOV
lag into Pennsylvania; aud his G ief rival
got very mad and complained to the War
Department that be was lihing the tele-
graph company; but it was whispered
among his friends that So and SO was neg-
Letting his business and going into very
rash speculatiOns, and - he changed
his cipher!