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
“Meanwhile Mr. Gould had placed another million and a half of gold
to the account of Gen. Butterfield and notified him of the purchase;
so Mr. Gould swears, in spite of Gen. Butterfield’s denial. The date
of this purchase is not fixed. Through Mr. Corbin a notice was also
sent by Gould about the middle of September to the President’s private
secretary, Gen. Porter, informing him that half a million was placed
to his credit. Gen. Porter instantly wrote to repudiate his purchase,
but it does not appear that Butterfield took any notice of Gould’s
transaction on his account. On the 10th of September the President had
again come to New York, where he remained his brother-in-law’s guest
till the 13th, and during this visit Mr. Gould appears again to have
seen him, although Mr. Corbin avers that on this occasion the President
intimated his wish to the servant that this should be the last time Mr.
Gould obtain admission.
“Things were now so managed that the President was placed in a position
that his honor was seriously in danger of being compromised, yet so
ably was the matter engineered that he was perfectly unconscious of
the designs of the plotters. He was prevailed upon to go to a then
obscure town in Pennsylvania, named Little Washington. The thing was so
arranged that his feelings were worked upon to visit that place for the
purpose of seeing an old friend who resided there. The town was cut off
from telegraphic communications, and the other means of access were not
very convenient. The President set out on his journey on the morning of
the 13th, and there he was ensconced to remain for a week or so, about
the time the Cabal was fully prepared for action.
“Gould then said to Fisk: ‘This matter is all fixed up. Butterfield
is all right. Corbin has got Butterfield all right and Corbin has got
Grant fixed all right, and in my opinion they are all interested
together.’
“This was patriotism with a vengeance. Just think of the audacity of
it! Gould enters into a scheme to place the President in a position
where he could not interfere with the plan of getting a ‘corner’ on
gold, and then he turns around and accuses the first magistrate of the
republic with being privy to a plot that was calculated to create a
panic and cause widespread disaster in business circles and make him an
object of universal contempt.”
Some of the members of the pool got frightened and sold out, but Gould
continued to buy. “I had to buy,” testified Gould afterward, “or show
the white feather. The other fellows deserted me like rats.” Gould had
the material aid of the Tenth National Bank, an institution which he
owned and which he used as an adjunct to his speculative operations.
The extent to which he used it in the gold conspiracy was shown by the
fact that it in one day overcertified Gould’s checks to the amount
of $7,500,000. Garfield called this bank “a manufactory of certified
checks.”
As Gould bought the bears sold “short” and the battle became intensely
exciting.
Public-domain text, read in full here on John Shaqi.
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