New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-26

vote for Governor Cornell last Autumn would vote
for General Grant,-if he should be the candidate
next November
" If they will not" said very influential Repub-
lican day two ago. there is only one thing Tor
us to do. and that is to nominate some other man.
had no sympathy with the scratchers' last Fall.
think they acted very foolishly, but that 10 not
subject for present discussion. Onr duty at Chlca-
go will be to nominate a good Republican whom we
can elect; and if 1t is known in advance that
$4,000 Republicans in New-York, or even 5000,
would refuse to vote for General Grant. and that
the party can be united some other candidate,
then it is our duty to drop Grant, no matter now
strong our personal preference for him may be-
There is one feature of the Presidential canvass
in the Republican party, far il has made pro-
gress, deserving notice, and that is absence OF
vindctive bitterness of feeling between the advo-
Gates of rival candidates have no doubt that the
second choice of majority of the Grant men IS
either Senator Blaine Secretary Sherman. and 1t
is rare to find man who advocates the nomination
of one of the last two who wonld not prefer the
other to any third man. The rivalry is sharp but
there Will be less danger than usual that some dark
horse may WIN the race at Chicago. H. W.
GENERAL GRANT AND BLACK FRIDAY.
Ex-sRcRETARY BoUTwEIEs STATEMENT OF THE
CONNECTION OF THE ADMINISTRATIONS WITH
TIE DEFEAT OF THE GOLD RING.
lBY TELEGRAPH To THE TRIBUNE1
WASHINGTON, JAN 25.-Governor Boutwell,, who
was Secretary of the Treasury during the " Black
Friday" excitement says that the folio wing state
ment gives the history of the relations of the Treas
ury Department and of President Grant TO the
Black Friday TRANSACTIONS:
The merchants of New-Ycrk for some days had
been sending piteOus appoalsTo Washington, show
ing they were at the mercy of the gold gamblers
ring and that was becoming impossible TO obtain
gold at gamblers rates to pay their duties 1t was
not until the Thursday morning preceding the
noted Black Friday tnat Governor Boutwell, con-
Guided that it was his duty Secretary Of the
Treasury, and the duty of the Administration, to
Use the power of the Government for the relief OF
the legitimate importing interests, and to thwart
the purpose of this gambling ring. The fact that
the Government was in danger of having It's reye-
nue. impaired by the locking up of gold, and the
consequent inability of importers to pay duties,
was itself a controlling reason which led to this de-
cision. Accordingly in the course of Thursday
afternoon Mr.. Boutwell, as Secretary of the Treas
ury, requested Mr. Knox, Controller OF the Cur
rency to come to the Secretary's office after official
hours. The same request was sent 10 three Of the
most accomplished banking and bookkeeping ex-
perts of the Treasury.
1t had been ascertained that the gold clique
able TO conduct its operations only by means of
certifcation Of checks through the bank where the
leaders of the clique kept their account. Ii was
also known that during certain hours of the day
say from IL to 2-these checks were certified when
the makers of them really had no gold to their
credit and that this certiicatiOn was in violation
Of the National Banking Act. Governor Boutwell,
Immediately commissioned the three experts TO pro-
ceed by the night train TO New-York. directing
them to go TO the bank and remain there con-
stautly, requiring the cashier to inform them of the
certifcatlon of every check and to show them the
books, and instructIng him, the moment that the
credit of any depositor exhausted, to refuse to
certify his checks. This would be very efficient
means of breaking the power of the ring TO lock mp
gold. The officers left for New-lOrk anG oDeYed
their instructions next day.
Meanwhile, on that same Thursday evening, Sec
retary Boutwell, SAYS, he called upon President
Grant and informed him of the serious condition OF
commercial affairs and OF the disaster likely 10 fol-
low ii the gold ring was not checked In IT'S career.
President Grant Immediately replied that the Gov
ernment should make every effort TO check the ring.
Secretary Boutwell, suggested that the Treasury
sell S. 900 600 of gold. President Grant instantly
replied. Make it S5000,O00. Secretary Boutwell,
did not say what he should do but returned to the
Treasury aud next morning ordered the sale OF
81 0OO, 900. This sale. with the success of the
Treasury experts in preventing the OyeI-certlhca-
ton OF the gold checks resulted in the defeat of the
gold ring on the historical Black Friday.
lhis Governor Boutwell, says, is the accurate
history of the relations of President Grant to the
sale of gold as far he knows them, and OF the en-
tire relations Of the Treasury 10 that matter. This
statement of fact, he says, has never before been
published and would perhaps not now have been
p1yen out but for the sensational articles recently
published in New-l0rk.