Freeland tribune. (Freeland, Pa.) 1888-1921, 1892-12-08

900 in his pocket for use in the lobby.
He was arrested and brought to New
York and went back under the charge of a
| deputy sheriff, who let him escape
The result of this battle was that Drew
took his profits and Withdrew from the
management, and Gould and Fisk came in.
This was in 1868 Gould was first president
in that year and continued at the head of
the company until 1872
Everybody supposed that Erie was
squeezed dry at that time, but between
these years the debt of the railroad in
creased from $64 600 900 to Sll5, 100000.
Drew speculated in Erie after Gould got
in, and before he knew it he was cOTnered
in earnest, and Gould relieved him Of ST.
100000.
Gould was,ousted from Erie in 1872 by a
combination of the English stockholders,
but for years afterward it was in the hands
of receiver Gould is said to have made
S12, 600 clear out of the wreck.
The Gold Conspiracy.
The gold conspiracy of 1869 was one of
the most remarkable episodes of Gould's
career. 1t was engineered by the firm of
Smith, Gould Il Martin. Gould went about
this scheme openly and was persistent in
advocating movement to advance the
price of gold.
He argued that it would be a great bene-
lit to the farmer and to the business inter
ests of the country. In order to get the
government into the deal he interested 4.
X. Corbln brother-in-law OF President
Grant, in the scheme. During the summer
oil lSb9 President Grant came to New \ Ork,
ana Gould and FISK entertained hlm ana
ms party on one OF the sound steamers.
III was at TINS banquet that Gould ilrst got
at the ear oil Grant Gould wanted TO put
gold up TO l4o. lie had bought the big
Ioau ne was carrying at ldO. Grant hnally
seemed 10 ne impressed with LIQUID sJheory
and wrote letter to Boutwell,, the secre-
tary OF the treasury, expressing the view
that 1t was not wise thing to force down
the price OF gold. Gould kept buying, but
IL TOOK a purchase OF s"O'oOOUOO TO raise the
market from l5o to l1O. Then Fisk and
several other friends OF Gould came into
the scheme ana assisted INN by buying
gold. Early IN September OF 1869 1t began
TO look as though the scheme was about to
succeed.
The only danger was that the treasury
might unload its gold and break the mar
ket before the consplators could realize
Their profits and get out Gould finally
got alarmed. 1t got abroad that the bears
tlon S policy Mr.. Gould and Mr. Corbin
decided to act promptly. President Grant
was then at Washington, Pa, thirty miles
from telegraphic communication. Mr. Cor
bin in letter to the president stated the
situation, and Gould and FISK selected the
messenger to take the letter to Grant.
General Horace Porter, the presidents
private secretary, says that the fact that
this messenger came all the way from New
York excited Grants distrust, and he be
gan to feel that Mr. Corbin's interest in the
Solu pollcy OF the administration had for
foundation pecunary motives. President
uraht directed Mrs. Grant to write letter
TO Mrs Corbn, III which Mrs. Corbin was
Instructed to notify her husband that if he
had any interest in gold speculations he
should retire from them at once. This let
ter was received on the evening of Sept. p?
two days before Black Friday
Gould got this news from Corbin, and it
was resolved that on the next day, Thurs
day, glgantc effort should be made to
boost the market higher and unload. Ac-
cordlngly all the could brokers went
scramblng for gold Gould, however, who