Business; Capitalists and financiers -- United States; Speculation; Wall Street (New York, N.Y.)
Corbin hastened to obey the mandate from Little Washington. He was
greatly agitated, but the ruling passion of avarice was strong; in
bidding Gould farewell, and before taking his final adieu of the clique,
he requested the arch plotter to hand him over his share of the profits.
Referring to this incident, Gould said: “I told him I would give
$100,000 on account, and that when I sold, if he liked, I would give him
the average of my sales. I did not feel like buying any gold of him
then.”
This was the denouement of the plot against the President, who
immediately hastened to big Washington.
Now, let me again ask the reader to turn his attention for a moment to
the concluding scenes in the speculative drama in Wall Street on Black
Friday. How the clique tried to manipulate Assistant-Secretary
Butterfield was kept as profoundly secret as possible, and as it turned
out, he did not have as much power over the events of that great day as
was expected. When somebody charged Fisk with tapping the telegraph
wires, however, to obtain information from the Government, he replied:
“It was only necessary to tap Butterfield to find out all we wanted.”
This was very likely a vain boast of Fisk.
On Wednesday, the 22d September, two days preceding Black Friday, the
clique, it is believed, owned several millions more gold than there was
in the city outside the vaults of the Sub-Treasury. Belden bought about
eight millions of gold on that day, while Smith, Gould, Martin & Co.
were also heavy purchasers. The clique held a caucus in the office of
William Heath & Co., in Broad street, and concluded that it had gold
enough to put the price to 200, if it could carry the gold without
lending and compel the “shorts” to purchase. But the idea of finding a
market for over thirty millions of gold was also a gigantic problem, and
they felt the risk of being ground between the upper and the nether
millstones of their scheme.
On the morning of Thursday another council of war was held in the office
of Belden & Co., on Broadway. At this meeting, Gould, Fisk, Henry N.
Smith and William Belden were present. The proceedings of this meeting
were kept a profound secret, but one result of it was that Belden gave
his clerk the famous order to put gold to 144 and keep it there. On that
day Belden purchased about twenty millions of gold, the price opening at
141½ and closing at 143½.
The chiefs of the Cabal had another private meeting up town that
evening. The great question of closing up the transactions on the
following day was the chief topic of discussion. These operators held
contracts for over $100,000,000 in gold. Gould said that the “short”
interest was $250,000,000. The total amount of gold in the city did not
exceed $25,000,000, and the difference between this and the aggregate
amount of the contracts of the clique was the enormous amount that would
have to be settled in the event of a “corner.”
Public-domain text, read in full here on John Shaqi.
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