The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1869-10-30
VINO ARE GUILTY. i?


completely of the Tammany Judiciary
with the recent Wall street gold gam
bling operations. These powerful ar-
ticles did not appear, however, in the
powerful journals of New York city.
We do not find them in the Herald,
World or Tribune, but in that fifth-rate
newspaper, the Times, whose political
status, for the last five or six years, has
not exactly appeared. Now we havn't
any particular admiration for Tam
many, but the more numerous it's faults
are, the less able it is to play scape-
goat for the sins of other people. But
hear the Times:
"For the fraudulent conspiracy which has dis
graced Wall street and widely dlfused disaster aud
ruin, the Democratic party Of this State Is direct
! ly responsible. The eonspirntors would have
been powcrless but for the protection aud support
accorded them by Judges whose Official existence
is driven from Tammany."
The item upon which this accusation
stands, appears farther down in the
Oregonian article, and is this
"And when affairs took an unexpected tern,
causing them to suffer heavily from their owu
eally transactions, the Tammany Judges came 10
their relief by granting injunction atsr nao,h
er for their especial protection
The offending of the judges hath this
extent, no more; They granted iniunc-
tons after the gold battle had ended.
What these injunctions had to do with
the origin and Inauguration of the
conspiracy is not quite clear. That
legal proceedings should follow such
events is natural and inevitable
Now we should like to see the man
adroit enough to draw 4 political line
between the Wall street Bulls aud
Bears. If the generally accepted fact
be correct, the Democracy hasan over
whelming predominance among the
moneyed men and gold operators in
New York city. The combatlnts in
the gold fight were quite equally Lal-
anced, and the scale of victory was for
long time held Sin doubtful poise.
The New York Herald says
"It was desperate struggle bctweea two gam
bling factions, either being bound 10 win {" s
Pillage rogue reHnorsclessly, just as when two
gangs Of reckless robbers, each bent piander
though Jealous of each others gain tarh from their
highway Of crime snd despoil each other. Ii the
bulls" succeedeI the " bears" we are sorry for
it hai the - bulls " been defeated the 8 bears 4"
would hare rejoiecd."
To say that the Bulls were more to
blame than the Bears is to exhibit
ignorance of facts. Those informed on
the subject say that the daily transac-
tons of the Gold Exchange Bank are
from one totwo hundredmillions; that
is the amount boughtand sold, while the
actual amount of gold and gold certifi-
Gates used in these transactions does
not exceed two or three millions, the
vast bulk being sold for future deliy-
cry in the hope that gold viii fall-those
who buy, OF course, do soinan opposite
hope. These transactions are exactly
what they have been termed, "bets on
the future price of coin.' If gold goes
up, these sellers must give the advance
price for the coin with which to fulfill
their contracts. A combination is
formed to get possession of the coin
in the market and "catch the shorts"
These "Shorts or "Bears" are thus at
the mercy of the Bulls. If, on the other
hand, large amount of coin is thrown
upon the market, at one of these crit
ical periods, as was finally done by
Secretary Boutwellin ther recent excite
ment, prices are forced down, and the
Bulls, who have been large buyers,
are ruined. There is no greater prin-
ciple of honor involved in these trans.
actions than there is in a game of po-
ker. The whole thing is only ques-
ton Of resources and pluck.
So far as politics is concerned, there
is this about it F: That party is blame
able that has by its financial policy
made these things possible. And now
about the responsibility of individuals.
Who are they, and must Tammany
stand sponsor for them?
The day after the 0regoaian had
published its scolching article on the
subject, the telegraph conveyed the
information that Gen. Butterfeld, u.
S. Sub-Treasurer, and A. Corbin, the
Presidents brother-in-law, with others,
had been indicted for completely in
getting up the gold corner. Butter
field in the appendage of Boutwell,,
and Corbin has the e,at,ee of the White
House, and, being a brother-in-law,
has, of course, the confidence of the
President. These facts may not indi-
cate that the President or Mr. Secretary
were in sympathy with the ring" It
does show, however, that Tammany
did not enjoy its exclusive manage
ment, and, that at least a portion of
the participators in the causes of the
gold panic can be tracked. if not into