The New York herald., 1870-03-02

viii CAPITAL continue to be diverted from enter
prses which AID 70 tne national rcS usra 1Ms ha
great majority OF those who engage ~ ~ ano en- ~.
dangers the business Of the whole country. MOI
the least among the evils which grow out OF tne
condition Of our currency ls the necessity which
makes the national government dealer IN gou'
ates On arGcai Interference in tine business Of the
country and devolves upon the oincers VINO MAIL
age IL most delicate and ditficult duties.
Tne committee IND that the custom auoptco ~
some OF the national banks OF certlyng SnsCnS s
which do not represent cash deposits and whicn
presented Immediately cannot 6s useo, Is danger
GUS and pefnicious Qracssce, and the use OF sucn
checks greatly aided the c0nsplrat0rs. IL lS " sv
s5 900 Of checks in the course OF two days, and
with all Its cash reserve was unable to make Settle-
ment, and only BY large loans was saved from
Tbird-In regard to the relation OF oficers Of The
government 10 the gold movement the committee
OF she conspirators to compromise the President OF
the Untted States or his family utterly failed. MI
Cor5 using ias ane wea ns
Religion wUia % and pSioti5n used al MS arts 10 learn
something from the private conversations Of the
President which could be made profitable to him
and his co consplrators. But with these and all the
efforts OF ms associates . tne nc. testimony has not
ent With that patriotism and integrity which behs
the Chiel Executive OF the nation. Even Mr. Could
influence the opinion Of the President testines as
foli0ws:--
Sati8HeQ Ffe1}oent never h4a any con-
nsction. directly Indirectly, with Of the
the. have been made aa Nothing has oceass a IN
.idsns very P@s agami1dsa msa that 4 he was .sss;
nfs BY ns sScrs snySns said Or
a any Of these 70 the resdens or in the Prcs
ss speemaoa gain was soashi Be reached
owng the ecresary Of the Tea
sury EXHIBITS at once the wisdom OF the Presidents
opinions and the prudence OF his conduct IN rele-
'e-e' = NEW Yoxk CrrY, Sept. IL, 1859.
r q
morning and will not reach Washington before the
my starting you would be in this CITY
early ins week would have rsinainsd % meet you.
as Sas .aa saA' bssri your % and psoss
10 hold fast on the other The fact desperate struggle
n Ss sa % . a,s
s &c s
until the present struggle y % over you want % % wrs me
hear experiences with the factions st all events
they give time % write No doubt YOU WA hsvs better
sion on the subject Yours, truly, Y: .. GRANT.
first suspected anu the order winch laid The strong
hand OF the government upon the c0nspirat0rs and
broke their power, are the most significant declara
tons that tue President held and treaLed them as
enemies OF the credit ana business or the country.
1t ID Impossible 70 say whether the charge that
Mrs, Grant interested IN the speculation III gold
originated with Fisk or Coroin; aud the charge Is
only made on the near5ay testimony OF Mr.. FISK.
lie AYERS that Corbln told him that 100000 OF the
gold that Gould was carrying for Coroln's account
was for Mrs. Grant, and that the $25, 900 profit
pad to Corbin By Gouid had been for
Corbin aud unsupported py Gould. The Commit
tee required Mr. Gould to produce the original
cneck Tor the SIS, coo and MI. Corbln 70 show
and Corbln produced the account OF the officers OF
The Bank OF America, showing that immediately on
the receipt OF the check CorDln paid II Oh Q debt
which he owed to the bank. COrbJn SwearS that he
never sent or promised TO send any money to MRS.
never proposed to give any OF them any interest IN
his gold speculation, and MIR. Could swearS tnat he
did not think any member OF the Presidents family
had any knowledge or the gold speculation.
The pretence oil Mr. FISK tn0t Horace Porter, Sec
retary for the PRESIDENT, was interested In this
speculation is utterly groundless. Fisk admitted
tnat he knew nothing on the subject except wnat
Could aud CurbiD had told him. CorDE sweaTS posi-
lively tnat ne never proposed to Mr. Porter to take
any interest their speculation and told Fisk
that he had any sucn interest Alter searching ex
animation, IN which Mr. Gould was asked II he knew
OF auy officer OF the government VINO was interested
in the gold movement, he not only gave no intima-
ton that Mir. Porter was in any way connected with
i nossioe. Moreover. it is in evidence that Gould
only proposed to buy gold Tor MIR. Porter, and re-
ceiyed from that worthy oiiicer prompt and
In regard 10 General Butterne.d it appears from
the evidence tnat during Ills administration the
affairs or the SuD-Treasury were managed with
vigor ana Intelligence, and all the public funds In
trusted TO his cnafge were faithfully accounted for.
IL Is not concIusyey proved tnat he was interested
with the conspIrators IN raising the price OF gold,
though on tins point testimony Is connictlng. Mr.
Gouid swcars positively that ne bought two lots Of
god for General Butterheld, amounting In all TO
81, SOC, 900. ana cross examination details the
conversation that occurred between them when the
order was given. General Butterfold under oath
denies this statement. He admits that Gould pro.
posed to buy gold for him, but says he made no re.
sDonse etner of assent or dissent. Both Fisk ana
Gould swear that they received messages from
Butternsld ana answers to messages which they
sent him during the days OF the panic IN
reference to news from Washington, aud this
statement receives some support from testimony
OF Brown, messenger Of the Sub-TIeasury. General
Butteraeld swears that no answered all inquiries
sent to him. but sent no other messages to these
men, But " 1s proved by the testimony that during
the days OF the panic TWO firms Of brokers sold gold
and that during his whole term OF Of1lce he was
dealing largely in United States bonds ON his own
account Early IN the week OF tne panic ne sent for
pressed the opinion the Treasury would sell gold,
aud tnat the price would come down.. and gave him
orders to sell. During the 22d 23d and 24th OF
September, while the panic was reaching its
crisis, Seligman sold IN this order $70O000,
$35,0O0 Morton 20. also bought bonds and sold
gold for General Butterned While he was In tue Sub
Treasury, aud other firms bought bonds 10r him.
The explanation Of General ButterleId-that the
gold sold Tor him was not properly, speculation in
gold, but an incident to dealing In bonds on gold
oasis-aoes mo- nGt, ~ tne opinion OF tne Sommi,es.
did IL Is in evidence tnat his sale OF gold through Sc
hglnan was made independently OF the purchase OF
bonds, which had been made before, and the profits
on which were used as margin Tor the sale OF g0d.
II is not proved IN The testimony tnat General
Butterned used the dispatches OF the Secretary of
the Treasury lor his own proht before making IN nem
public, but IL is IN evidence tnat during the last
day OF the panic ne frequently received important
dispatches from The Secretary and sent many 10
HIM in winch he exnioited the state Of AFFAIRS in the
gold market. Before the break in the market he
sent the following despatch:-
FRANKLIN TELEGRAPH COMPANY, Sept. "a, 1869.
fBy telegraph from New York.
To Hon. g. s. BOUTWELL,
requested to to the condition OF affairs
here Cold s 50 Much feeling Anu accusations OF govern
completely The propositions of WeAherspoon, Dun
Sherman and sagmAn II accepted, would
and change MARKET and be judicous should be done by
telegraph. DANIEL BUTTEKFIELD.
While giving this advice, and while holding, next
to the Secretary himself, the most important imam
cial trust coded 10 any ocer Of the United States
General ButterHeld knew that whenever the price Of
goid was pushed down one cent by the actlon the
Treasury, 1t would make him profit OF -. 900 ON
his sales through Seligman alone. When asked by
the committee whether he knew any 0nicer OF the
United states VINO WAS, directly or indirectly, inte
rested IN gold he answered unqualinedy the mega
tive. Hut wnen afterwards CONFRONTED with the tes-
tmony OF Joseph Selgman, concerning his pur.
cnases OF gold, ne admitted It was true.
In CONCLUSION the committee beg leave to call at.
tenL0n to the valuable facts and suggestions on tue
financial situation OF the country relation 10 gold
ats<l1 IA. .f.tlts hA