Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-09-30

tinued to-day the banks still refuse to
sell. The express companies Charge i've
per cent. 10 transport gold. Legal tenders
are selling at "a,
Prom the New York Republic OF saiur-
day evening.l
GRANTS PARTICIPATION IN THE GOLD
GAMBLERS SCENES.
Our very full financial reports will
show what is the situation to-day in Wall
aud Broad streets. The battle of yester-
day we gave in fun. Beginning with the
morning, the account closed with the por-
trsyal Of the defaat of the Bears by the
Bulls. The intentions of the HOyeFnIDent
10 sell four millions of gold and buy in as
many bopds, demoraliged th5 speculators.
ThaI intelligence we gave in advance,
oven of its circulation on change. Now
whose beneficent act was this bursting
OF the ring2" a morning paper devoted
and procured to advocate the Secretary OF
the Treasury for the Presidency, saws that
he did it. In painful contradiction, and
in lanentable exposure OF the reckless
nsss or CayelessRess Of such a statement,
came Mr.. BOutwell's complaint 10 the
public that President Grant had ordered
him TO do it against his win, and at the
instance of "A member of The firm of jay
Cooke Il Go. These facts are known;
TIE Governments smashed the ring.
The Secretary OF the Treasury Is on re-
cord protesting sgainst the order for the
sales of to-day's gold.
President Grant oyerrode Mr.. Boutwell,.
Some New York merchant persuaded
the Executive to order tho sale.
1t is not impertinent TO ask few ques-
tiOns. Why was not direction given TO
sell the gold on Tuesday? On Monday the
Balls conspired to run up gold. Their
purposes and their power were exposed.
They could hstye been defeated at the
start. Thay we're let go on for four DAYS.
Thereby were scores Of mllliens lost and
of creduIous people who have
trusted their sayings to sOplless specula-
tors redpced TO poverty, The speeula-
tions of this week have been q national
scandal. The wrecks of yesterday are a
national calamity. That scandal could
have been prevented. That calamity
could have been ayerted. Neither was
done, and small credit Is due to the doing
on Friday what it was disgraceful and
DISASTROUS not to have done on Tuesday.
What does il mean-the publication of
the Secretary of the TressurSis protest
q saiust the order OF President Craft sell
ing the goldY Without, IN this copueo-
tiOn, considering the general pFopriety or
safety of the policy OF selling the surplus
gold, it Is due to note that the exlgency of
demonstrated the wisdom OF
that, by as much as IL was timely then,
would 1t have been ten-fOld better, the
first of the week. But dis4nissing this, |
we inquire, how comes it that a Secretary
sf tie Treasury is allowed 20 proclaim
aloDg with hfs orders the statement,
& This Is decreed by the President against |
my VIM" Such q freedom is incipient |
insubordfnation. The Secretary of the !
Treasury, the law requires, TO obey the |
r., ~ sf.,fs-
orders at the same time he promulgates !
them Is an anomaly to the people and an |
insult to the President. Dissent is the |
of an official who resigns. |
Silent obedience is the duty of the officer |
who continues IN place. Let dissent be /
kept for the private ear Of tho President.
Let not the spectacle of a munity in the |
Cabinet be paraded before the public. |
Our system sppplesseS no right OF oplh- |
ion in ofticialsi but it does not tolerats !
contempt for the orders of su-
perioFs. Mr.. Boutwell, can resign and /
assail the President Just as members of 1
Mr.. Johnson's Constitutional Council did. |
For this there is precedent, if not pro-
priety. r
We sincerely hope that in this bitter
battle of Bulls and Bears the innocent /
who have suffered have suffered enough |
TO teach them wisdom, and that the uTl- I
guilty have 80 been dam I
aged asto forbid the hope of their reha-
Bflitatipp In 81 bad bgsiness. -
The whole thing is sham, except in its /
entail of bankruptcy, insanity and des-
pair. Gambling on the largest scale it /
was and is. Gambling in which the real !
losers are the dupes, and the crafty prin-
cipals the largest sufferers, only on paper.
Ifthe history of this week has revealed TO
.he crop of fools, who make up the fodder
~ tbaSs ansol.t or- as,ot1ph su ffarinU 0r
enough sagacityto keep out ofthe desper-
,te games ofdesperate men, then has the /
,alamity not been without considerable