The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1870-01-29

been made to its printing.
The Great Gold Speculation Last
1T. Summer.
Fiske, Jr., and Jay Gould have been At Wash
ington AID given their evidence before the Con-
grsssioaal committee appointed to investigate
the big gold speculation in Wall street last sum-
mer, and in which it was 50 strongly rlmored
parties in high authority at Washington had u
dirty hand. The evidence of these worthless GER
tainly su,tains tho worst of the newspaper re-
ports at the time on tho subject. Of course the
talk about moving the crops" to make business
for the Erie railroad will be accepted for what
it is worth. The plain facts, a. here revealed
are simply that the gold gamblers in Wall street,
with Fisk & Gould 1t their head, conceived the
project of an enormous bull operation in gold.
To carry it out effectually, they needed the CO.
operation of the assistant U. s. Treasurer in New
York, and the President Of Secretary Of the
Treasury at Washington. They succeeded in hav-
ing an honest man removed and Butterheld ap.
pointed Assistant Treasurer in New York Then
Grant, in one of his pleasuring trips, was placed
on one of Fisk's steamers, and in this favorable
situation approached on the subject Of moving
the crops" As usual, he was dumb as an oyster
into the ring, and he, by bribe of $4,000 to
Mrs. Grant, under tho name Of speculation in
gold, undertook to "fx" Grant. To ascertain,
after this bride was paid, whether Grant was
really fixed, they sent a special messenger to
him with letter asking the question plainly,
and Grant replied to it "All right" Then the
gold ball opened in earnest In three days gold
went up from 1870 to 100. But then the pressure
upon Grant became 30 heavy to relieve The gold
market, and his wife being in the safe possession
Of her $4,000. Grant yielded, and directed Bout
well to order the sale of 100000 Of gold,
which ended the bubble and brought ruin upon
his co-conspirators in Wall st. This is the plain,
straightforward narrative Of Fiske & Gould,
whose evidence before the Congressional com.
mitee is boiled down into the following re sumo
by the reporter Of the associated press:
They were anxious to have the crops of 90
moved at as high prices as in 'Gs, in order to
furnish transportation for the Erie road But
they saw this could not be done without con.
sequent increase in the price of gold. The latter
being low, they At once sought to ascertain what
the financial policy Of the administration would
be, and to that end preached the matter first TO
Gen. Grant, on June 18th, when he was on his
way to the Peace Jubilee in Boston. This war..at
Dulnson on board of one Of Fisk's steamers, and
it appeared in the conversation that Grant WAS
in favor OF an early resumption of specie pay.
ments. He was told that it would bring crash;
b hat kN1l L. E.
then. But Gen. Grant replied Gentlemen, well,
any way, we might as we'll prick the bubble"
Grant was again sounded by witnesses at Long
Branch, but did not make any definite replies on
financial topics In the meantime, Gould became
with Corbin, the Presidents brother
in.law, and some plan was developed by which
Butterfeld was to DO made Assistant Treasurer,
which was afterwards done. In July, Grant
went to Newport and Gould wrote him letter
which Fisk carried, arguing against reducing
the price of gold, stating that the time was near
at hand when tn: crops of the country would be
moved, they Fisk & Coy would put up the price.
Little or no reply was made to that; and Corbin
was brought into their confidence. Corbin said
he could fix things all right with Grant Feeling
assured of this, 81, 500 600 Of gold were bought,
100000 for Mrs. Grant, 100000 for Porter,
Secretary to the President aud the rest was divi.
ded between Corbin and Jay Gould-for up to
this tiISe Fisk had not bought any gold. Gould
at this time introduced Fisk to Corbin. and Cor.
bin said that Mrs. Grants gold had boon sold and
the profit of $25 1000 had been RENTED to her at
arrangements with Gould, and said that he Cor.
binl was behind the throne; that he could regu.
late Grant; that the government would not sell
gold; that Mrs. Grants letters to Mrs. Corbin
said so, and that there was to be no uneasiness
&C. Fisk says at first he was not disposed to
believe CorbIn but that the latter's points were
80 positive that he placed full faith in him. To
make assurances doubly sure before more pur.
chases were made, Corbin said he would write to
Grant, who was then September 15th) at Wash.
ington, Pennsylvania, and send the letter by
Fisk's confidential man. This was DONE The
messenger (Chapin by name reached Washing
ton, near Pittsburg, at Z A. NJ, routed up the
General, and handed him the letter. He read
part of it. went into another room. and in fifteen
minutes returned and said all right. Chaplin at
once went to the 6rst telegraph office and tele.
graphed to Fisk, Letter delivered Grant says
all right" Fisk said that on the day before
clark Friday" he saw Corbin, who said, GAIL is
now right. That letter to Grant clinched mat
ters." Fisk and Gould then commenced to buy
gold, and it rose from 81 to Al, and opened at Al
Belden asked to participate in the transaction,
and gave Fisk power to buy gold for him. Ono
Albert Speyers was Beldens broker in these pur.
chases. Gold rose to 43c, and Speyers then
jumped in for himself and bought till it rose to
6Oc, believing that it would go higher Then
came the order of the government to sell $4,000.
600, which Immediately smashed down the mar
ket. "And that" said Fisk. lis the story Of the
combination. Relying on Corbn's statements of
his influence with Grant, and the letter, We
bought heavily, believing the government would
M ea11 frol1 Eolr ho eOnuht (nrhn altar