New-York tribune., 1872-10-08
TIE GoHERNMENTs COLD SIZES.
EFFECT ~ WALL-sT.-THE COURSE OF sECRE
TARY BOUTWELL, AND ADMINISTRATION
BANKERS CRITICISED.

EFFECT ~ wALL-sT-THE COURSE or sECRE-
TARY BOUTWELL, AND ADMINISTRATION
BANKERS CRITICISED.
The heavy sales of gold on Saturday by
persons connected what Is known a. the Govern
meut Syndicate the subject very general COM
ment on the Gold Exchange and at other places ire-
queutcd by members OF that corporation Chief among
those upon whom attention most generally concen-
rated the operators FOR the houses Of Henry Cews
& Co. and,Jay Cooke IL Co. Considerable speculation
was INDUCED IN as to the cause that prompted
them TO sell much, and many were the
attempts made TO ascertain the "pont" upon which
they were operating The mystery was solved yesicr-
day. but not to the satisfaction Of the street. and asse
ons freely made that tho officials OF the Treasury
Department had betrayed their trust and descended TO
the baseness Of assisting favored few OF the many
stock and gold jobbers to Increase their for
tunes at the expense OF those who had no
influence at Washington. IL appears that after
Messrs. Ccws Cooke, ana others connected with the
Syndicate lad been allowed TO become fully aware OF
tho intentions OF the Government. Acting Secretary Of
the Treasury Richardson, by order Of Secretary Bou-
well, teegTaphed instructions, on Sunday evening to
Assistant Treasurer Hhousc in this city, authorizing
the sale Of s. 100000 OF gold and the purchase Of sjOJOco
worth OF United States bonds ostensiby with the view
of easing the money market and freeing it from the in
furious influences exercised by the Smith, Could aud
Joslyn clique In accordance with these orders. az
early hour the following notice was posted IN tNe
i. S srq-TnF.suaT NsvYoEs, Oct I 1l;, ls7'
hee Is hssg on gso @ M id'' y & S G g ~ @ 5 tos5. viii be re-
up today when the bids and os WI e opened and
hsscs viii be Observed ihe sale and plr,hasea to-day
OF corrse the announcement OF The sale cf such
Ouautty - gold caused consequent dtltttiHiinu !h
tFce ela blihg Nessrf. Clewe Co. to Ieul4c on tel
sale, ,he handsome dineIence between lit ttlc
price saturday, ana ll3 hc opening price yesteru!
pocy o. ne Government should be uted, or a. 1t ad
been boii. asserted dictated IA tho htc!tst OF spe,u
Kent he political casbOX OF tie Grant party ana were
ardent supporters of the Administration.
TOaccOmnodato those VINO were desire MS OF aYallhe
themselves OF tho Governmental invitation, two oGes
wore furnished for The reception Of DIS Tor gOd a.d
in the bOXes. Tie sub.Ireasury was crowded WIN
dealers dcposiiins -ds ana on - as He a. & s @
taken i'm the proceedings The bids FOR gold were first
opened aud wele Ip 10 1sren' @ a., Se' zoo at at
bands vere 4 o5osoo in the aggregate. at II274 TO
pUiu' iSH The a, s6(c0 bonds bougnt viii be paid
Tor i'm legal tender u0es and FOR the S50tW goa sou
payment will be received certificates OF deposit IN Tie
Central NatOud. Fourth National, Second National, ana
the Bank OF Commerce. These banks are deal-let-9 deal-ls
S4 f5 s @ e be oed 70 rSsin @ o. ep,
lime Il being understood that those banks should eist
the merchants by discountlng mercantile paper as to
whole movement of the Treasury Whs Oslehslty 20 re-
Heye the merchants IT, on the contrary, money depOs
lied m fbe.c banks should loaned out call t0 spccu-
atOrs then tie Treasury Department would ne deposit
ing the peoples money III ha'loh"i oanAs ~ "'''' si'
In connection with the Treasury operation, yesterday
II is eemi-oficay reported that secretary BOutWel 80
consrue the law that he can siO0O0 OF greenbaeks
contracted by Secretary McCunoch for tho reason that
be same have never been Cancelled but that he has
gbt 10 use the SOO0lOO created FOR temporary
and three per cent certG1tes' nor can lac dYert
ny of the greelacks kept hand Tor the purpose OF
redeemin 1I1utiiated notes. go -,
TRm1EE reporters conversations win many OF tne
leading bankers and brokers revealed variety OF opiu
IONS IN regard to the ACCESSIBILITY OF the transactions
Some disposed to regard them as mere pYSai @ 0l
electiOnetrinQ movements, artiully advertised ana de
sIgned 10 affect mercantile sentiment in favor Of the Ad
nisfrotou Others were disposed 10 regard IL as an
upwarrantabe interference with the laws or trade ana
designed 10 beucft Clews Co. and other Admnlstra
tiOn adheTents. 49,, a..
a few of the leading bankers appeared TO think mat
no matter what the motive might De, the act wOrfu DO
good as the money market would be relieved as soon as
the legal tenders found their way into clrcualOn one
prominent banker, while believing that the general
tafet would be beneficial also thought that there was
disadvantage az the Treasury was Increasing ITS vol
une OF currency by S00OOOOO, Uben IL Would ap
near most desirable reduce It, He also thought That
ibe transaction had cost the Government over slO00