, 1870-12-18

r. Fss1.I1 q. ts!s2t3pned 70 3uHRe R&:hAsuAon
oa koao untn 5cu hear from ma n
~. Gou!d had, therefore, sucee sdAd In re-
.s.'nG the policy IT the National Govern.
Maeatt cut this wks NOT Iii. He know what
Q. tne gostrnnaent know 1t. Mr. Gould wAs
a. AZ IoiLlns o5 house "a ths % OF September !;
.no Atnou8h the effderae Of both these gen
nemsn u very confGsed On this point. the In
n!eoo9 Is inevitable that Gould eau Corbln
p9SAe!t, unknown to tbs Pres1dent, within m
m.a n. et .ro Alter this lester to ,ts. Boutwell,
w. "1.tfn; Fothspg be reaj tta letter itsslf.
4nen followed transaction worthy Of t!ic
french stage. Ar. co1bms evidence tells ia
oxn account Of it;
,r.ssa oa ~ tae "a q September trcten1uz 10 memo
IL rea 1 t. Gasld offered % 1T hEe
tes,aa mf ~ ne had repeatedly done hefore, anoui
Ssktng certain amnont Of fold ouued hy him
1,a4 a2sny ~, sta M ". Gould thak Tor the aske OF
1o5 = nes & &Seoeat 50 ahaIed bis conndence. ihsi
!aat 1ssou.d .5sc a million mMc, asd d DID ' - o.
NJ this parer.
1he paper in question is ~ follcvs:
saMlta, Gould, Martin i c.. DAnkers,
II Broad A1ctt. New YORK, Sep:, I, is6s.
: !. .I.s1 I.s sia: We Lave bought for you: sccoun,
:eo,0o0 gold, 1ss, r.
1teop,xo. gold, 1ssE, r.
,h.ch NC viii car!J On demand With the right ID
Ise. sAr1u, GOULD, MARTIN / CO..
1h1s memorandum meant that for every rise
Of per cent in the price OF gold Nj. Corbiu
vas to receive Es,060, aud his name noxhere
70 appear. Gould must hare Eean Co1bin in
the no1nsrg whilo the President wls in the
house 10 must have learned from Corbin
Hnat Ine fJehtdent bad written; he must
hase IN one breath ordsred thia memorandum
10 10 % maas ont and la5ge quantities Of gold to
ed the letter to Leave Alr. Co1bin'e house.
No time was lost. On this SANS afternoon,
VI. Gonid's brokers bought large amounts m
Kcjd. Ono testiteh to buying &l,Sl5,OO0 It
l545s- On the Sd, the premium Was forced up
70 S6; On The 9TH, wbnn Mr. Boutwell, rScai7ed
~ Letter, it hid rtten to ST. Here, however,
Ar. 0eu1d seems to have met check, and he
d. serited hi. Own position in nervous Auati-
cafisms, a. toltows,
did rot want to huy 20 much gold In the
6pftnG PCT Roit up From : J to 80 nun ~, with
oniy about aesen Iilnons- But all these tel1o- s
Gp lad TO huy, CT else to back down and Rhow
fh- Thite feather. They would scll It to you al
r. 'tne. never int.nded to buv more than four
or ase nillioEs II gold. hit ,hete ielowl kept
ftrEhatitE 3 II ca, ~ made mp my m1kd thai
1onld Eut II up to 10 at oae uEe.
s Ms Ment INTO It ss commercial Transaction, ana
was forced Into 1t By The beaIa selling out Tnc1
were bound 10 Eut 1t doru. got tato tho eoti-
te:t A! hes: otfc1 tellows deserted me liEa
tht1s, ne sold out Il a.. He m Kot saort @ ii Aoi
it, md vert up [or, IN EogllEh. be iailedl.~ "
II was unfortunate that tho bsa1s would
not consent to Lie still and be flAyed, but this
was unaueetionAh1y the fact. They had the
great operators for once II = dissdvautAge,
and theT were bent on revenge. M1. Gould'a
position was Te1y hazardous Whom Mr. Him
ber sold ont 1t 81, which was probably on tho
and on tho 9Th the price fen
lack to IS. Nor vaA This all. At
tle same moment, when tho ..pool Was ended
be Ar. himber'A deeeet,on, Mr.. Goblin, with
his emint at shzs~dness and dsespect.bility. told
M: Gould "that gold had gone up toi ST."
aud thst As !" should Like to have this matter
teA'l1eds which was equivalent IT. saying that
30 wished to be paid something on account.
Ihts Was on the 94h and Gould WIS obliged
drawn to the order Of Jay Gould, and endorsed
~ t!ink for 4im with touching regard for Mr.
Co1bin's modest desire not to hare his nAma
appear: Thcra. ara few fnAuciera in the world
who viii not agree that this transaction does
great credit to 4r. Colttn'a a1Bscity. It indi-
Gates 1T least that ha WAS acquainted with the
men be dealt With UndoQbtedlJ it placed HI.
loud IN l. diMcult position !; hut Is Nj.
Gould already held sotne fifteen milIiaos Of
gold, ard needed 11r. co1bin's support, ho
preferred to pay Ct, 600 outright rather th1u
allow cofblo to thtu~ his gold On the market,
Yet the fabric Of Goula1s web had now peeu
70 seriously injured that, for whole week,
iIom tbs ash 10 the 1ssh ot September. hs was
equally unable to 1etEest without very severe
losees. He EST at bis desk in The Opers
House, eilent, ~ usual, and tearinx little atirs
Of paper, which he Threw on the floor in his
a Bt1action, while ha reyolysd new coubina-
tiens In his mind.
Down TO this moment, Sir. JAm.s
ID deula a'' hsa nGt agR''fsa aeP ,sisa ia S ths
into his cophdeuca: and it wss not
until after tbs 10th Of September that Gould
appears to have decided that there wa noth-
i else to 10 done. Flax WAS not safe ally
IN 10 delicate m stfair, but spparantly there
WAS no choice. Gould approached h,rn and,
~ pkual, bis touch was Ike magic Mr. Fiek'e
evidence begins here, and may BE- believed
when very strongly corEoboEated:
" Gold having settled down to IS acd not hsy-
cateI 10 to touch It, he wa l1tta sentative On
1ns subject feeling ss u he would rather take ha
-. one day he said 70 ne; sOon's sou think
re!d nst .ot to the bostom:' Irtplled ihasI d,d
lot sec :ee p1cas IN bas11g s enld unless you hsve
got llto position wtere you can command the
large a1ceuns Of go, and Judged f:oa Ill Gu eoa.
seltauon that be wuntetl me 10 70 into the move
lnfIt ana help sssecgtteu tho market Upou
Thar vent into the market Rud bouQht. 1thouh
.a5 that was about the 13sh OF lsn Of septem1e:.
ions, I think
The market responded elowly to these enor-
mcus purchases and On the 18th the clique
was still struggling 10 recover its lost ground.
Meanthile, Mr. Gould had placed another
million and half OF gold to the account Of
General Dutteraeld, and notified him OF tho
purchase So Mr. Gould aweArs: and, in
elate of General Buttertleldfe denial, Wall
erect is inclined to believe Mr. Gould.
The date OF this purehsse Is not ti1sd.
tek sso esns u b. ooefa ef'a sbout bo n1,iie i
die Of September, to tho Presidents Psivat o
Secretary: General Porter, informing him that
hslf million Vas placed to his credit. Gen.
e1al Porter Instantly wrote 10 repudiate the
Iu1ehase, hut it docs not appear thss Butter
field took any uotiro Of GouId.s tssnsactiou on
bis ascount- On the 10Th Ct september the
ha Iemtlned his hrotherin-11ws guest till the
18Th and during this visit Mr.. Gould appears
again to have eeen him, although Mt. Eorbin
ar1B That on this occasion sha Prcaident Init
mated his Wish to the servant that this should
ba tho last time Mr. Gould obtained Adnisaion.
ont Of him." he rid: and 1t ke had known
how much 11r. Gould had succeeded in getting
out OF him, he would have admired tbs mana
genius, even wEife shutting the door In bis
face. On the morning OF the 18th. the Pred
dent ret out On h journey to the littls town
ei Washington, ai.uated among the imnnn-
to remain = few days. Mr. Gould, Who now
consulted Mr.. cortin regularly evctY morn
iEg and evening, WAS still extremely nervous
IN regltd to tho Presidents policy and a.
the crisis approached. this nervo1enoss led
him into tho fatal blnnt1er Of doing too
much. The bEibe offered to Porter vas 4
made by pressing Mr.. Carbia'd influence too
far. Ho Induced aIr. Corhiu to write an Off
.,., -" for the New York press On tho
ans1eial polly {. Tie g=.ern~1.s,s. II.
En- srtic!c afterwards interled n tns
Ar. James AcHeusy. s1:d he slo persuaded
u erconlaeed Mr- Corbiu TO write i letter ti-
rtc:ly to the President hiu,eelt. This letter,
N,i.ten On the 17th under tbs influence Of
Gould'e anxiety. was instantly seot aTay BY
sree!al nesse1ge1 Of Fisk's to reach ite Peer
ioent before be returned to the capital The
messenger carried also letter OF iatrodut~
iion to General Porter, the Private Secretary.
In order to secure the personal delivery ID
this important de.Pstch.
We have now come to the week which via
to witness the explosion OF ali this e1ahorately
constructed nine. On Aoad.5, Tie eo!b, gold
again rose. Throughout Tuesday Ind Weines-
day F5sl eoatieued to purchase without Limit,
and forced The price up 10 40. At this time
Goula'a Grm. OF 6nith, Gould, L Martin,
through which tbs operation VA conducted,
had purchased come esq, ,ooo, 600; and sci The
Lear. went On selling, although they could only
continue the contest By borrowing Gonld'e
ovu gold. Gould, On ths other hand, could
10 logger sell Aud clear himself. fo1 the very
re1aon thxt the eA1e of ESQ, ,00o, 900 would
haye broken ths mariet to nothing. The
struggle hsd bec2me intense. Tbs whole
e rEty Was looking On with aatooiahmeut Ut
sbe bAttls besween the bulls and the be,ts-
Al tusintks WAS dcranSed. and III values un-
.esslcd- There wese Indications Of = panic
b .tha stock market; and tho beais IL
t1eH emergency wero vehemeotly rrcaa-
loE :. the government to intervene.
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