Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-03-06

from forty to siXty-three and nall
uer cent. and dropped as instantly
and this, too, when not q dollar OF
coin or even geld checks changed
hands. Nor will they wonder that
the 50 longs" or those that had the
gold "eornered," !" were not so strong
but that four millions of real gold
would break them, especially when
it was known that the government
who were to sell these four millions
had eighty or ninety millions behind
it.
To Mr.. Gould-a man Of remarl1a-
bic cOOlness of brains-Was commit
ted the management OF the practlcal
operations. He selected mis- agents.
They were brokers Of various repute:
Some were like Belden, shrewd and
bold; some like Speyers, infamma-
bic, yet manageable. Fisk seems only
to have been the ''rObustious" ele-
ment. but in fact he was as dOcile as
the "woodbinen about his more Wig
orous colleague. He seems to US more
ike A vociferous lieutenant who car
ried the cammauds of his captain who
killed them. Corbin, who is accredit-
ed bv Gould and the committee with
being very sagaciOus and willy, was
relied upon to keep the President TO
the produce theory and to prevent
Secretary Boutwell, from being 80 in
fIuenced by the bears as 20 be con-
rroIed bv the President. He piled his
purpose -by editorials to the press and
bv letters 10 the President. The sane
titv of his demeanOF and the shrewd-
ness of his tact led him to be trusted
bv Gould even, as we'll a. by others. be
professed to be anxious for thepro5-
perity of the eOSptry, Tor the hlgn
price of breadstuffs and tie balance OF
trade in our favor, with view to aud
the then pending elections in the IN
teresf of the administration ana the
country. The part played ~ butter
field is not 80 very clear. lie certain
Iv took advantage OF his OibclaI posi-
ton. if not to aid the scheme and help
his confederates, in the end to help
himself. This is shown by the testi-
Gony of MS banker, Mr.. SeliSmani
as wei as by his own evidence.
The minority Join with their col
leagues in recommending some leglS-
iatiOn upon these SUBJECTS bUt they
cannot fail to see how impOtent ais
legislation Will be so long as agents or
the Government and their outside
ccnfaderates can know with Ger
taintyH and communicate with esS2
the Intentions &nd conduct of the
fiscal officers in advance Of public in
formation; or how, being advised CT
such intention and conduct IN adj
vance, by an impractical system they
may adapt their plans to the eXigen-
cies If which they are advised. All
such legislation is futile so long as a
policy is pursued by TIE Secretary OF
The Treasury, which advises ouch
agents and the public what 10 expect
as to sales CT gold, so that specula-
tons may prOceeG with safety. Mr..
CatheTWOOd describes it iG the same
way-thst the basis Of their original
plan was that there would be stability
in the sales Of gold, az an assurance
for safe operations. 1t Is perfectly pos
sibie for such combinations to succeed,
even bstu-r than the one now investi-
gated, so long Is the Treasury is full
of gold, and 50 long O. tee head Of the
Treasury can dispose Of II at pleasure,
ss upon his present plan. To remedy
the evil Ue should have, first, no such
over the currency, mar
kets and interests oI TIE people; no
such supreme control vested la 2ny-
one, however honest in intention,
over the results Of cur Industries; and
second, no scheming and untrust-
worthy subordinate officials ana no
possibility Of such appliances and ap-
prOaches to the head of the Govern
ment which this investigation reveals.
There is nothing proved in this IL
vestigatiOn so clearly as this f6ct, that
the scheners relied and rested their
fortunes absolutely upon their belief
Of what the Government would do.
Mr.. Gould says that the whole Specu-
lation was based upon the belief that
the Government was not going to sell
gold. He SAYS that he had good reas-
On to suppose lit was the policy OF the
to let gold work up
until after the fail crops were moved,
and that he never would have gone
into the movement unless he had 80
believed" He asserts that Mr.. Cor
bin had bGcOslG very much interested
in the ''crop" theory; it had becOmea
with him, and that after
various interviews with COrbin and
with the President, the latter from
being 6 contractiOni5t had changed
his views; that the President re-
n5arked that the Government would
do nothing during the fall months Of
the year TO put down the price OF gold
or make money tight; on the contra
~ they wodid do everything 70 iacllI-
tate the movement Of breadstui1s.
The President gave his reasons TO Mr..
Gould why he would not sell gold.
He said to Mr. GOrbiu that
Mr.. Boutwell, had given al order to
sci. and that he eeOuutermandedi 1t, ana
that afterWard Mr.. Boutwell, acqui-
esced in the Presidents views, That
Al Gould was right IS evidenced by
MIR PmitwCil's testimony, hereinafter
1uotpd. On these assurances MF.
Gould risked largely. tie bought
roId for Mr.. COrbin on and after these
assurances OF the President. These
assurances of the President were re-
heated TO Mr.. Gould on the third in
terview which he relates. Moreover
a letter was written, as Mr.. Goulu
states, to Mr.. Boutwell, by the Presi-
dent Ia reference to this matter. This
IS doubtless the letter Of the 4th Of
1t was intended as a
against the "bears," who
were to dine Mr.. Boutwell, in New
York. In pursuance Of the same plan
the letter of Mr.. Corbin was dis
patched by Fisk to the President at
Washington, Pa. That letter is not
described by COrbin and Gould alike.
In its absence or destruction the tes-
timony of the President was indis-
pensable. TO show further what reli-
ance was placed by the schemeTs on
the government aid. That testimony
IS refused but of that hereafter.
MIR. Fisk confirms Gould's statement
as to their implicit reliance on the adj
for their s0ccor. BE tes-
titles also that Butterfeid was consid-
cred "a all important" could see"
he says, that if they had claim on
him, if he got the news first, he would
give il to them" Buttertieid
kept sending down word to Gould that
everything was all right" So says
Mr.. Fisk. Mr.. COrbin told him that
his (Corbin's) arrangements with
Grant were perfect. He acted,
as he swears, on what COrbin and his
wife told him. He sWeaFs that COFbin
was in the plot, because of his relation
TO the government officials. Unless
Fisk swears to lies by the wholesale,
he was most spprehensive Of govern
ment interference with their plans. +"
said to Gould If we bought gold up the
would unload their gold
on to US. Said he, that is all fixed
The President was then in the city.
{ Corbin has got Butter6eld and Grant