Herald and tribune. [volume] (Jonesborough, Tenn.) 1869-current, 1869-09-30
The Gold Conspirators Crushed.

The SUM-, as a faithful monitor of the
people, announced on Monday that a
clique of gamblers in Wall street had con-
spired to paralyze m and Cypress
the industrious masses of the people by
enhancing the price of gold. Up to yes
terday the operations of this unhOly alli-
ance went IN successfully. Every import
or and merchant who had to meet Custom
House duties or remit gold for his purchas-
es was compelled to pay tribute to these
infamous SPECTATORS, and the prospect
was that hundreds if not thousands of
honest men would be forced into bank
ruptcy by their ncfarious schemes.
In the morning, gold opened at one for
ty-five, and rose during the first hour to
one sixty-two. Everything babe fair for
the success of the clique. So far as appear
ed, 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 a day or two, there is
no computing the extent of the disaster
which must nave been wrought in every
direction. But happily the Nemesis was
on the track of these cOnspirators against
mors of heavy gold deposits in the Bank
of England to the credit of the bears,
which were soon ~subStantiated by the large
operations in that interest.
A decline set in, which h conspirators
strove by the most reckless purchases to
avert, but without effecting a more than
temporary check in the downward move
ment of the market. On the heels of this
came the cheering news from Washington
that the Secretary of the Treasury had
ordered the sale Of four millions of gold
to-day, with discretionary power to in
crease the amount indefinitely, and had
directed the purchase of Governments to
a 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 operators for
a rise were powerless to stem the tide; in
a few minutes the price of gold tumbled
headlong from one hundred and siXty-twO
to less than oneh undred and thirty-three,
and the majority of the Gold King were
hopelessly bankrupt.
We are quite sure that in the downfall
of these conspiratOrs the whole country
willtrejoice. There was not the slightest
reason for such an onslaught upon public
and private credit. The country was at
peace: it~s9finances were being so admin
istered as to inspire the utmost confidence
among all classes. Yet, in spite of all this,
these gold gamblers, like ommon high
waymen, consorted together to force the
public INTO a desperate strait in order to
compel the payment OF unlawful tribute.
In this dishonest endeavor they ave been
grievously worsted, and all just men will
rejoice at their discontinue. That they
and their aiders and abettors will suffer in
purse for this fragrant outrage is matter for
congratulation; but it will be a source of
lasting regret that a more condign punish
ment canno be imposed. The law against
cOnspiracies has been most vigorously ap-
piled to poor men seeking a fair compen-
sation for their labor. Would it not be
well to apply it to these rich ~rascals who
have no such dire necessity to plead in ex-
fanr1afinn of thar nffanaar-N YorI- Gam