The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay GouldWhite, Trumbull
History
The Wizard of Wall Street and His Wealth; or, The Life and Deeds of Jay Gould
White, Trumbull
Businessmen -- United States -- Biography; Capitalists and financiers -- United States -- Biography; Gould, Jay, 1836-1892
After the party returned to New York, Gen. Grant, Mr. Gould and Mr.
Corbin had private interviews on the gold question at Mr. Corbin’s
house. As a result of these interviews, according to Mr. Gould’s
testimony, the President remarked that the government would do nothing
during the fall months to put down the price of gold or to make money
tight. Just after those interviews Mr. Gould purchased two millions
in government bonds for Mr. Corbin’s account. The next interview with
President Grant on this great subject was at Newport, where James Fisk,
Jr., followed him.
Fisk testified that Corbin told him that Mrs. Grant had an interest
in the gold speculations; that five hundred thousand of gold had been
taken by Mr. Gould at 131 and 132, which had been sold at 137; that
Mr. Corbin held for himself about two millions of gold, five hundred
thousand of which was for Mrs. Grant and five hundred thousand for
“Porter.”
The story of the conspiracy, as Mr. Clews tells it, is interesting as
well, and has certain points of difference from the others. He says:
“Although the policy of stopping the sale of gold had been agreed
upon in deference to the views of the best financiers of the country,
yet Mr. Gould and his fellow strategists thought it was best to make
assurance doubly sure on this point, in order that nothing might stand
in the way of the great speculative intrigue to get a “corner” in gold.
President Grant was conservative on the subject. The conspirators,
therefore, conceived the design of arranging things so that Secretary
Boutwell could not depart from this policy, no matter what emergency
might arise.
“This bold and wicked strategy could only be successful by first
getting President Grant convinced that the theory of stopping the gold
sales was the only commercial salvation for the country, in the then
condition of business stagnation and the possible panic threatened. The
theory was then to impress him with the necessity of giving Secretary
Boutwell an absolute order not to sell gold, and afterward to fix
things so that it would be impossible for the President to revoke
that order until the brilliant speculative purposes of the clique in
cornering gold should be accomplished.
“The scheme was but little short of treason, regarded from a patriotic
point of view, and it is very questionable if the perpetrators would
have stopped short of this dastardly act had they not been convinced
that their purpose was fully compassed by a method less villianous and
shocking. It was considered indispensable by the conspirators for the
consummation of their plans that Grant should be got out of the way
by some means or other. Fortunately for him and for the honor of the
nation, the plan succeeded without the necessity of offering him any
violence.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account