Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1869-10-05
The Gold Conspirators Crushed.

THE SUN, as faithful monitor of
the people, announced on Monday that
clique of gamblers in Wall street had
conspired to paralyze commerce and
Cypress the industrious masses of the
people by enhancing the price of gold.
Up, to Friday the operations of this
unholy alliance went on successfully.
Every importer and merchant who had
to meet Custom House duties or remit
gold for his purchases was compelled to
pay tribute to these infamous specula-
tors, and the prospect was that hun
dreds if not thousands of honest men
would be forced into bankruptcy by
their nefariOus schemes.
In the morning, gold opened at one
forty-fve, and rose during the first
hours to one sixty-two. Everything
babe fair for the success of the clique.
So far as appeared, there was nothing
to hinder the price from touching the
highest point reached during the war.
Had it done so, and been maintained
even for day or two, there is no COM
putting the extent of the disaster which
must have been wrought in every di-
rection. But happily the Nemesis was
on the track of these consplrators
against public and private credit. There
were rumors of heavy gold deposits III
the Bank of England to the credit Of
the bears, which were soon substanti-
ated by the large operations in that
| interest.
A decline set in, which the conspi-
rators strove by the most reckless pur-
chases to avert, but without effecting a
more than temporary check in the down
ward movement of the market. On
the heels of this came the cheering
news from w ashington that the Score
tary of the Treasury had ordered the
sale of four millions of gold on Satur'
day, with discretionary power to In
crease the amount indefinitely, and had
directed the purchase of Governments
to like amount. This demonstration
from the Treasury Department, fortified
by the representation that the President
himself strongly approved the measure
broke down the combination. The OPP
orators for a rise were powerless t.
stem the tide; in a few minutes thC
price of gold tumbled headlong from
one hundred and sixty-two to less thai
one hundred and thirty-three, and ;
majority of the members of the Cole
Ring were hOpelessly bankrupt.
We are quite sure that i'll the down
fall of these conspirators the who'll
country will rejoice. There was no
the slightest reason for such an on
slaught upon public and private credit
The country was at peace; its finance
were being so administered as to lnsplr
: the utmost confidence among all CLASSES
Yet in spite of all this, these gold gam
blers, like common highwaymen, cor
sorted together to force the public int
desperate strait, in order to compel tn
, payment of unlawful tribute. In thi
dishonest endeavor they have bee
| grievously worsted, and all just me
l will rejoice at their discontinue. Tha
: they and their aiders and abetters Wi
suffer in purse for this fragrant Outrag
t is matter for congratulatlon; but
will be source of lasting regret thu
, a more condign punishment cannot /
! imposed. The law against conspiraciC
. has been most vigorously applied t
poor men seeking fair compensate
for their labor. Would it not be we
. to apply it to these rich rascals who hay
: no such dire necessity to plead in e
: tenuation of their offence ~ y. .Se