The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-26
THE GOLD RING.
Feeling on Wall Street-Arriyal of S0Iici.
tor Banileld-ResignatiOn of General
Butteriieid-The Heavy Weights
OF Wall Street Before
the Grand Jury.

The despatch from Washington IN the HERALD OF
yesterday giving General Grants statement in
regard TO the gold ring spectators and his pithy
estimate OF Admiral FlsK's moral worth formed q
lively topic OF conversation in Wall street circles.
The disclaimer OF the President was deemed in
great measure unnecessary, as few or none needed
any further statements to confirm their convictions
OF the Presidents innocence. The cloud OF sus-
picion industrousy raised by the ring had but
an evanescent effect and needed but q little reAec
ton en- the character OF the men seeking to divert
public attention from themselves to convince people
that there was anything but fair moral purpose
At the bottom OF their over ardent virtue. President
Grant mas evidently no apprehension that his fame
can be furnished by the impotent calumny OF gang
OF stock jobbers and money brokers' and Wall street
men who know intimately the peculiar ways OF
those persons who set aloat the insinuati0ns
against the reputation OF the Chief Magistrate
deem IL work OF supererogation to take any but
the most aconc and contemptuous notice OF them.
As little attention was given to the charges, II there
ever were any, worth moments notice against
Secretary Boutwell,. Things will have arrived at q
very strage pass as a gentleman on Broad street
remarked, when the Secretary of the Treasury can
not come to New York and partake OF the hospital-
ties which some OF It's citizens may offer him
without being subjected the moment he leaves to
suspicion of having betrayed the designs OF
the administration The arrival OF Solicitor Ban
field from Washington on special business IRON Sec
rotary Boutwell, concerning the affairs Of the Sub
Treasury and the rumored resignation Of General
Butterneld created more than ordinary excitement
in the busy circles ON 'Change. Mr.. Banheld was
supposed to come here clothed with plenary powers
to start an investigation into the management OF the
Sub-Treasury and The connection OF the officers in
charge with the operations OF the god pool.
II was this suppostlon that invested Mr. Banield's
visit with so much interest in the eyes the
but the Solicitor OF the treasury had, after all only
very simple duty to perform. which was executed
in fifteen minutes and resulted in the resignation OF
General Butterdeld. The latter on being informed
that the court OF inquiry, which he requested could
not properly be granted, and having no other alter
native, determned on notifying the Secretary that
he was prepared to resign his position ana meet
his accusers before Whatever tribunal might
seem most in consonance with the views of the
President. From the beginning there was no reuc-
lance shown by General Butterfled toward adopting
this or any other course which would forward the
ends OF investigation. His first letter to the Secre
members OF the gold ring was answered by the
expression of the Secretarys utter distrust III the
accusations freely advanced against the Assistant
Treasurer. Mr.. Boutwell, declined TO consider
the ec porte and anonymous stories as
worthy OF Official attention. This was readily
guessed al by the ring. so they determined to put
forward the least scrupulous OF their number IL
frame narration which should contain strong
color OF plauslbllty look like q true version OF the
case against Butterhed, and have verltaDe sigma
ture attached to render it still more impressive.
links OF implication, and douotless believing
that he must be some one who held a
prominent place IN the financial community
or New York, Secretary Boutwell, signfed
to General Butter1eld that the circumstances under
which the letter appeared and the character Of the
quiry. In reply, General Butterileld despatched
the letters which were published IN yesterdays
HERALD and to which the arrival OF Solicitor Ban.
field in this city is the responsive action OF the adj
ministration. The resignation, II accepted viii re-
suit IN the analrs OF the sub treasury being
turned I'D aDpOIutPe.
and the books and whatever else con-
stitute the necessary machinery of the
customary examination in such cases. General But
terrified feels perfectly prepared to meet whatever
lieved that q court composed OF military officers OF
high standing would reach q conclusion more salts
any other channel. A military court would De per:
fectIy proper in his case he still continues 10 hold
his commission in the army, and 1t would also be
tribunal Of less biased and moreneutral compost
ton than any other that could be secured
Among the civilian classes there IS one side ready
TO pronounce him guilty ana the other side satisfied
to acquit him OF any wiliul completely In the designs
of the conspiracy. Between these it was Thought
compromise would be enected by selecting military
court into the character Of which such influences
might enter as 1t was presumed would AFFECT the
integrity of q purely civil tribunal. MIR. Ban1eld
Boutwell, TO General Butterfeld Is received.
along with which 1t Is expected definite
Solicitor as to the course for nm to pursue. He
brought no instructions from Washington save
simply TO deliver the Secretary'S letter anu notify
the department or the result.
While he Is waiting he can learn much about Jay
Gould Fisk, Lane and the rest OF the ring, and by
their fruits he Will know what sorry crowd OF wit
nesses propose to tell the truth about the gold ring
Vaccinations.
the Grand Jury, it is gratifying to see, are going
to work with Will to bring out all the llgnt possible
on the operations OF the conspiracy but whether they
win deem it incumbent upon them to bring In an
indictment against any person or persons seems to be
n mooted question. Jay Gould was before them yes
terday for TWO hours, and must have unburdened
himself OF much that was curious and interesting
the next witness Will be Daniel Drew, who can re-
late good deal Of strange and instructive informa-
ton. The following witnesses have been subpmnaed
and will testify IN the course OF the week:-Eenry
Clews, Frank &c. Howe William Beden, ]. Seligman,
l.. =. Morton, +. VAIL Bank OF Commerce. James Il.
colgate, william kimber, X. p. Lounespury, Il.
Dodge OF Jay Cooke Co.. 20. q. Norveli and George
Crouch.
Wen informed people in Wall street say that
the Grand jury Will lose no time in drawing up
indictment against somebody, and that a sLrong
pressure to that end Is already being brought to bear
upon them BY certain prominent politicians.