, 1870-12-18

i ~.\ h2A ~ 6V4A ~ O4l40&<J LSAQGf8 WlkU.
ne IeAt Posaible uee Of slang OF technical
pnlasoer tEo preliminary statemants aEo No
ctssarJ; In the fsat plice, Il must be under-
ttuoo that the supply Of gold Immediately
aFaaibie for tEanstera ID limited within dis
tinet boqnde in America. Nov York. md tho
estimated It about 81 ,o0o, 600. The Esiiol Il
Government cemmonIy holds fruu Els 0o9,-
Go to ~, ,M c, 900, which nsy bo, thrown
bodily OF the market il tho Psexident u-ders
It. 10 obtiin gold from Europe, Or other
| sources, requires tine.
! commodity bought and sold 1ikn 8tocks IN 3
sfeelal market OF gold room, which Ia eitnated
ne2f the STOCK Exchange in Ero2d stzpet, and
| pIAcucaA{ part Of l. In gold, II u stocks,
| 1he transactions afa both real and spd&u1aaya.
The real transactions aro mostly purchases OF
loans made by importers Who require cain to
pay customs On their Imports This ioSiii-
81 COO 900. to q, 500 600. par day. The specu-
laaye transactions are nefo waRers on the riss
Of 1ali OF P1i.e. and ueithsz require any actual
1,ansfet Of 6old nor oven imply iss exsaseaee,
Il houeh in lines OF Excitement hundreda Of
loaned.
Under the late administration, III. Mecul-
iecb, then Secretary Of tbs Treasury, had
1honght It his duty at lcaat To guarantee \
him to restore the gold standard. During
four years gold had fnetuAted lt.1e, aad pin
GrAly frum natural causes, xud taa dapvar Of
attempting TO create IN artificial sc.rc,tg ia il
had prevented the operators from t1iing IN
e1pt Fiment which would have boen sure to
l1rltate the government. Tue financial policy
OF tie new adm iuikua.ion xxs not 90 dshni,e-
y d3ed, and tie sucoeaa Of : spaaalstion
would depend on the kcsion Of Mr. B1utSell,
Ito teT seeretaIy, Whnte direction was un-
oefstood e to have hegun BY marked oensu1a
on tho eousne pursued BY his predecessor
Ot Ill financial operations, cnsner1nV roId Ia
the most brilliant md Ii most dAnRefons. aud
poasloiy the vsly hazard and sple1dor Of the
Attempt Was the reason Of its fascination to
Af. jay Could Ian-y. He dwelt upon Il for
months, and played with it Ike pet 10y. His
isfule mind even went 30 far as 70 discover
that II would prove blessing to tha oonmuai-
y. aad On tins ingenious theory, half honest
ard half fraudulent. hs stretched the widely
extended fabric OF the we5 IN which al .nau-
kiuo vas 10 be caught This theory x1s in
,ist1 4nn Pm ballv ~ sound Starting from ths pnn
regulated " the price N London, and ID not
anected currency fuctua,ions,; Mr.
Gould arSutd that il it we're po4sib:o
y raise tie premium On gold from
70 to; 0s eants At harvest umG tie
iarmeIs grin No1ld be worth !s1.i0
iaTmGr Eonld hasten to eend all his crop to
AeE York fot export, ovcr tho Eria railway,
which VAS soroly in need OF freights. iWiih
tho valuable assistance Of Auothof Ingenious
Erntieman not unknown to the Euglish uubIie,
NJ. James MeHenry, Mf. Gould ca1ru!at4d the
would consent to dispose of his grin: aId
t.us dlttacca the three hundred sail Hhich
we're bsstoning from the Danube to supply the
Enghah MARKET Gold; which was then heayy
i, This clever idea like al the other ideas Of
r1R a~xf. L-3 II.
single fault Of requiring that some one sonuo-
where should be saiedled. The echems was
iaobab!y featibte; but, sooner or later, tie re-
actioh from such Al artificial stimulant must
have come, and Thensver It cane some one
must suIes. Nevertheless, Mr. Gould proba-
bly, urged that, 80 long Is the farmer eot his
money, the Erie Railway its freigbts, and hs
himself his email profits On lie cold be
bought, II VAS Of little consequence who elsa
might be injured; and indeed, BY tho tins
inc Re reason 1 cane; IL snd sen w.s ,s.dy 70 f.ll
hs1o been ready to assist tha process BY spec
Native salea, in order to enAbls the Western
farmer to hny hta spring gooda "a cheap ~ ho
hAd so1d bis autumn crops dear. Hs himself
Eas equally re1dY to buy gold aheap md sell
II dear On LIS priyate account; aud u he
The beEeft OF the Western farmer, 80 ha was
willing to bleed Dfoaa street for his own. The
patriotic object WAS, However, the one which.
tor obvious rcasons, Mr. Gould prnetrel 10
rut forward most Prominently, aud on the
eirEngth Of which he ho2ed to rest his auhl-
tious structure Of intrigue.
In the operation Of tnis1uK tie n1ics of co},1
from 133 to lis, theIe was 20 great difils3,ltY
70 men aho controlled the resources OF the
Erie Railway. Credit a1pue was needed. and
OF credit Mr. Gould lad an unlimited supply.
Ihe oniY serious danger lay In tho possible
acton OF the NatlonA! Government, which Ind
mt M kaT ff,aa p.1,i1 n.,AQ~~
public good - vaa peculiar to the managers
OF EEie.- Secretary Bout vel. ~ho should hive
assisted Alr. Gould In "bIIling" gold, was
gtAye'y suspected Of being bear. ndwiahing
to deFrehs the .premfums to nothing: II he
WAS determined 10 stand in hlr. Goutds path.
Erio and Tammaoy 10 lossle against him md
1t vas therefore esseuttalcshAt Mr.. Gould
should control the government Itself, xbather
by fair means or foul, " 1pefsussfon or by
purchase. He undertook The task; aud now
that his proceedings in both directions haro !.
beeu thoroughly drawn Into light, it IL we'll
worth while for the public to see how dramatic
anu ..ex a1tisticall5 admirable conspiracy in
real Iifo may ba, ~hen aiouls elaborated from
the subtle mind Of clsSes ins1sener, and tts-
f1ed into execution BY band Of unshrinking
The FIRST requisite for Nj. oould's purpose
WAS soule channel Of direct Communication
"AAAA &AAO 44Ce@1Cu& 2uu AHIA ne WEE uAEUllAf-
i favored by clance. Mr. Abel na,hbone
Ccrhin, formerly lawyer editor, spe.ulator,
lotby.aSeut. familiar ks hs clAius viii oyers-
thing, had sucseedsd du1iug his varied oarser
10 aceuInulaLlng from one or another OF his
hazardous pursuits comfortable fortune, nod
CT theteAhouts, BY cons1s cling ! marriage
with General Grants tistat-in-lar, pre-
cieely at the moment when GENERAL Grant was
on the point Ct reaching the highest enlinencs
pt ssihla to an American citixan. To sAy That
NJ. Corbin's moral dignity had passed abso-
1noephero in which his life had been ep9nt,
would be dtt.eRing him too highly; but 1t
Hast he was noH no longnr engaged In Auy
active occupation, And he lived quietly in New
1o1k, Watching the oourse Of public ahain,
aId :euaskab1s for an eminent respectability
which became the President'e brothsr-in-iaT.
II. Gould enioyed aliEht acquaintance With
~. Cozbin: and he proceeded to improve it.
us Assumed, and he eran aasetts that he real
iS telt, respect for Alr. Corbin'n ahrsvdness
ard seg7eity.. II is amusing to observe that
". cothin claims ta have int Impressed the
famous crop theory on Mr. Gouid's mind
Willie Mr. Gould teeudes thAt he himself in
doetiinAted Mr.. Corlia with this ides. which
X cAme , sort OF mon0na2uiA With the pfesi-
tsnts brotheI-in-lAw, who soon began to
preach It to tie President himaelf. On the
lSih Of june 1869, the President came to
CcrLip. who urged 1iE. Gould to call and pay
liz respects to the Chief Magistrate. Mr.
Gould had probably aimed 1t precisely this re-
fult- He called and the President OF the
United States not only listened to tho presi-
dent Of Erie, lut accepted An invitation to
9lr. Fixk's theAtre, Eat in Mr. Fisk.s private
lo1, aud the Ee1t evening becau.s the guest
Of these two genuemea On saeir magnificent
Newport steamer, while AIr. FisE, srraveJ,
II lie Newspapers reported, lin blue
AZ form, with aroal silt cAp-bAnd,
.hfee suset EtA1s on his coat-s,.ar.
l.veneeE gloves and LAsa""I =" ssss.
r.. ~ iAtEe n I oaet1y, stood At tue
E.tBWay surrounded by his Aids bestsrrsd and
t:*uippsd Like Limself,- and welcomed h,s
olshng1ished frietd.
II hsd etsn alread5 arranged that the preei.
cent should on this OCCASION be eounded in
Ies'rd to his financial policy: aud when the
lectcd 6uea-e-&nonE whom were Mr..
Gould, Mr. Flax. aud NJ. Cyrus Field. whose
tTotAsf wss legal adviser Of Tho Eria Raiixay,
nIu othess-eat down 1t o'clock to supper,
the eonvetsAtion MAS directed to tho subj .ct
OF finance. "some one" SAYS NJ. Gould.
asked the President What hia view vas.- Tbs
" eotoa one in question Nsa Of course. Mr.
fisk, who alone bad the impudence to put such
an icquiEJ. The Pfetidant hluntlv replied.
fhAt there VA certain amount Of fictitious
AID th.t The bubble might Is veil b. tapped
IN enc way As smother. Tho remark wAs IA
tal to llr. GoUld's plana. and ha felf. In hi,
oEn words, ~ \ wet blAnket.
Meanwhile. the poet of Assistant Treasurer
As New York had become vacant, md It vaa !
mattet Of interest to Mr. Gould that aoue
parson friendly 10 hmeelf should oc,ury lin
potittont ELlch, in ita relations to tho public,
le second in importance only To the Sec1etayy-
chip Of ths Treasu1! itsolf. MI. Gould cou-
enlted III. CoEtin, and MK. CoShln suggested |
The nane Of Genesal Dutterdsld-4 former
officer in the volunteat A1zny,s no. altogether
favo1Ably known in the sexvsca, and charged,
10 Chief of STAFF to Gsneeai Hooker, with Exv.
ing used official information IN orde. to gpecu- ]
la'e in stocls- The appointment was 10: a