Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
It was arranged that General Grant should accompany a party, one
beautiful evening in the middle of June, who were going to attend the
great Peace Jubilee of Patrick Sarsfield Gilmore in Boston. Jim Fisk did
the executive work in the arrangement. There was a fine champagne supper
on board the Boston boat, and several gentlemen were present who were
thoroughly conversant with financial questions, and could talk glibly on
the state of the country. The subject of exports and the policy of
stopping the sale of gold were thoroughly discussed. It was a feast of
reason, and those who have imagined that it was all flow of soul, on
that festive occasion, do very scant justice to the intelligence that
was at the bottom of the deep design of the nocturnal excursion, planned
by Gould, Fisk & Co. General Grant was an eager listener to all that was
said on the most interesting subject of that day, but his mind, it would
seem, was not then thoroughly made up that the best policy for the
prosperity of the country was to stop the sale of gold. He was undecided
on that point, and it required well directed reasons to convince him.
Mr. Gould observed this and foresaw what was necessary to be done. The
drift of the conversation, when this point was brought clearly out, was
very succinctly described by Mr. Gould in his testimony before the
Garfield Investigating Committee. He said: “The President was a
listener. The other gentlemen were discussing. Some were in favor of
Boutwell’s selling gold, and some were opposed to it. After they all
interchanged their views, some one asked the President what his views
were. He remarked that he thought there was a certain amount of
fictitiousness about the prosperity of the country and the bubble might
as well be tapped in one way as the other. That was the substance of his
remark. He asked me what I thought about it. I remarked that I thought
if that policy was carried out it would produce great distress and
almost lead to civil war; it would produce strikes among the workmen,
and the workshops, to a great extent, would have to be closed; the
manufactories would have to stop. I took the ground that the Government
ought to let gold alone, and let it find its commercial level; that, in
fact, it ought to facilitate an upward movement of gold in the fall. The
fall and winter is the only time that we have any interest in. That was
all that occurred at that time.”
It may be necessary to observe that I am merely quoting Gould from the
report, and am not by any means responsible for his confusion of ideas
and grammar.
This is sufficient to show how ably Mr. Gould played his part in
attempting to get the President into the proper frame of mind to enable
him to endorse a policy so vital to the interests of the country and to
the success of the gold clique.
“I took the ground,” says Gould, “that the Government ought to let gold
alone and let it find its commercial level.”
Public-domain text, read in full here on John Shaqi.
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