“‘At this supper the question came up about the state of the country, the crops, prospects ahead, etc. The President was a listener; the other gentlemen were discussing; some were in favor of Boutwell’s selling gold, and some opposed to it. After they had all interchanged views, some one asked the President what his view was. He remarked that he thought there was a certain amount of fictitiousness about the prosperity of the country, and that the bubble might as well be tapped in one way as another. We supposed, from that conversation, that the President was a contractionist. His remark struck across us like a wet blanket.’ “It appears that these skillfully-contrived efforts elicited from the President but one remark, and this opened a gloomy prospect for the speculators. Upon their return to New York, Fisk and Gould determined to bring a great pressure upon the administration, to prevent, if possible, a further decline in gold, which would certainly interfere with their purposes of speculation. This was to be effected by facts and arguments presented in the name of the country and its business interests; and a financial theory was agreed upon, which, on its face, would appeal to the business interests of the country, and enlist in its support many patriotic citizens, but would, if adopted, incidentally enable the conspirators to make their speculations eminently successful. That theory was, that the business interests of the country required an advance in the price of gold; that, in order to move the fall crops and secure the foreign market for our grain, it was necessary that gold should be put up to 145. According to Mr. Jay Gould, this theory, for the benefit of American trade and commerce, was suggested by Mr. James McHenry, a prominent English financier, who furnished Mr. Gould the data with which to advocate it.” This plan was tried vigorously. Hired newspapers filled their editorial pages with arguments. Every mail brought pamphlets, papers, memorials, arguments, etc., to the silent President. Wherever he turned, some one was at hand to pour into his ear a plea for the poor country. If the Government would sell no gold, the conspirators would have the market in their own hands. Men having contracts to furnish gold would have to buy of them at any price. There was no word from Grant, but the conspirators continued to buy up gold. Gould took in a partner: