The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1869-10-08
THE WALL STREET CRASH HIGH oPFI
GALS IMPLICATED.

THE WALL STREET CRASh--Hluh VEIL
GALS IMPLICATED.
The whole country has been startled by
the results of the struggle between the gold
gamblers on the memorable Thursday and
Friday. Hundreds of men were utterly |
ruined, and business in all the cities in |
which there was miniature Wall street and
Gold Room, was completely demorallzed.
Though the consequences have not been
very widely or generally felt, yet they have
been overwhelming and crushing within
their limited circle. The operations of
those two day made them a complete iinsn.
cisl Bull Run to the greater number of
those who took part in them. Almost
princely fortunes were engulfed in the fierce
struggle. A review of the field after the con.
fusion aud excitement have partially sub
sided, demonstrates that in such a fearful
financial tornado, nobody in its track is
SAFE for come of the best established,
strongest firms in New York were swept
into the vortex of ruin.
1t is not unnatural that in such q contest
the bitterest execrations and invectives
should follow, among the combatants. But
in this case they do not stop here, but tx.
tend to the very highest officials Of the gen.
erAl government The President of the
United States and his Secretary Of the
Treasury, are both charged with bearing
improper relations to the struggle. The
New York Sun, Republican paper, charg
es that during the operations of Thursday
and Friday, Mr.. A. Il. CorbiD, the Presi
dents brother n.law, was in frequent con
ference with the President at the instance
and in the interest of god gamblers, and
that Mr.. Corbin acted as 'cats paw between
the government Of the United States and
the bulls" and that Immediately after the
crash he fastened to Washington to see his
brothern.law, the President, taking with
him, according to tho Herald, certified
gold check for 100000. Whether the
graceful manner, in disreputable scramble
for money, or not, Of one thing there is no
doubt. He has not conducted himself in
such a manner as to place himself above the
suspicion Of having done it, No other man,
who ever held the Office Of President, would
have been even suspected Of it ; and the facti
that Grant has authorized a public contra
diction of the reports in circulation, an,
that his brother-in.law has been caught in
network of contradictions as TO the Pres
dents and his conferences will go grea
way to make the public believe he has bee
in some improper manner concerned 10 TIL
disgrsceful squabble for margins on gold.
As to the connection of Mr.. Secretary
Boutwell, with these operations, the New
York Herald, an original Grant paper, and
now al administration paper so far as it can
be, says:
He had it plainly before him that the de.
mand for gold in this market and the sup.
ply, bore such relation to one another, that
at q given time in the near future the avail
able quantity would be reduced to less thai
five mlllons-perhaps to three millions
4e huoWi VI OuRub " ubF6 huONU, ludt ptU
pie who wanted to change the relation il
prices between gold and currency had only
five millions TO buy in order TO put the price
at whatever point suited their operations
He ignored this fact with a magniicence OF
stupidity unparalleled in the annals of Fl
nance; and this one fact ought to send him
forever TO bung up that "'hole in the heav
ems" that be made for the benefit of Andrew
Johnson. His course resulted in the for
nation Of ring competent to buy ffteet
to twenty millions, and in the deraugemen
Of all financial transactions by a body Q
men whom he had furnished with perfect
legitimate motive a Secretary Of tn
Treasury in whose regime this occurs is no
fit for the place.
These charges, originating and being re
iterated by papers predisposed to favor thu
administration, cannot be explained AVA
by the usual cry of copperhead. All goo
men can but regret that the standard of of
eisl propriety has fallen 50 low that GU
highest officials are not free from sncb su
picions even though not wei founded.