The President In Wall Street

James Bropks, Oetobor 18, nddrnsscd the business incn and others of New Ilavcn upon politics as conuected wit.h business, iiiul in the courso of hÏ3 address spoke as followï : Gextlemen: Tho currency of this oDuutry luis been bo ordered, or is so disordered, tu give tho fow - eapeoially the few in the secret- a control alinost absolute over tho nominal values, the priues and the exchanges of propevty, or ovei gold and silver as the representative of property. A recent operatiun in Wall street, oue of worst I havo ever known there, will best illustrate whfct I mean. Combinationa uve mudo thero to make grecubacks and gold scarceor plenty, us the speculators desiro. Uudur a well ordered ourrenoy, with an honest, straightforward administration of it, no three or four men, no matter if gre:it. capitalista, could make moncy scaroo or plenty. Well, üctobor 4th, greenbacks and gold having been made soarce in Wall si i eet, nrtificially, of courso, gold heilig high and stocks low, tho Government was invokcd to inturfere. I am not going here to dwoll upon that interferonoc, tho penl of it somotimes and the power of it at all times ; I am not going to say it was wise or unwise, right or wrong, for on all that men may differ ; bilt I am going to make an exposo upon which honest men cannot ditfer. I ara going to show that the govorinont, or the Administration of tho government, Octobor 4th, did not deal fairly with oither Kepublicans or Democrats in eonccaling from all, or niaking known only to a fow, on u. Friday and a Baturday, what it did and intonded to do on tho Monday following. October 4th two distinguished gentlemen - distinguished for thcir operations in Wall street and in Washington - were in oonsultation with the Assistant Seorotary of tho Treasury (the Socrotary not being in Washington adininistering tho Treasury, but in bis moro appropriato calling of stumping in Indiana). Mr. Boutwell is a bittor partisan - a fanatio in whatsoever ho believes, and overcarrying out his measures and principies fanatioally- but he nover makes monoy for himsolf in administoring tho Treasury, or knowingly allows others to do so, tliough others frequent [y uso him. What was agreed to bo rtono on Friday and Saturday in Washington would doubtless have been dono if Mr. Boutwoll had boen attending to his own Treasury business in lieu of stumping in Indiana ; but it would have boon done fairly, openly and abovo board, for the benefit of all Republicans ia Wall stroet as well as for all Democrats, whereas what was done was done by General Grant's own in fcerforenco with the Treasury, upon tho solicitation of two New York bankera and brokers, and the fact was kopt secret from all others but their own clique until tho Monday following. Tho Government operators iw the secret began to operato and to profiit on their secret late Friday afternoon, and thoy had from Friday, October 4th, to October 7th - Monday- secrotly to opérate in, not only in New York, but in New Haven, Boston, Phila delphia, Baltimore, CLicago and elsewhere. On Saturday othcr Wall street operators began to seo from the operations of the pets and favoritos of the government that somothing was in the wind and some followed suit and profited thereby, but tho secret was not publicly known to the wholo street or to tho country until Mondiy, Oot. Tth. Now, what was tho secret - that invaluablo secret - by the possession of which millions could could bo mado at the expenso of a country kopt ignorant of it? Mr. Boutwoll in September had given out his usual no tice of how much gold ho would scll in October, and how many bonds he would buy. That was a notice purporting to bo published in good faith, on which all operators in gold or buyers of bilis of exexchango could rely, but it tnrned out to be only a delusion, for on Monday, Ootober 7th, it wa3 oöicially announced that that the government would scll $0,000,000 in gold and buy $5,000,000 in bonds in addition to tho official notiee heretofore given. The effect was electrical in Wall streot, and not only there but aniong moneyed men all over the country, with the additional hint that if this did not do for the speculators $44,000,000 of greenbacks would be reissued to ínflate the currency. Now I am not going to indulge in any figures of speech on tho table I hold in my hand and am about to submit to you, but in figures of fact, algobraic figures, mathematical demonstrations, which can no moro bo donied than that two and two are four or threo and two are fivo. I am going to show that the possession of this secret was worth millions to somebody, and the possessors of it, I have no doubt, made $1,000,000 at tho least, not all, it may bo, for theinselves, for an election took place in Pennsylvania on the Tuesday ensaing, with what results, effected by money and fraud, you are as well informed as I am. Tho tablo below shows tho movoments in stocks from Friday, October 4th, to Friday, October 18th - the day I am addressing you boro in New Haven - and tho prefits of two weeks' speculation to somebody, the chiof profits ot' which doubtloss were tothoso who had the groat secret of Friday. COMMENT3 ON THE TABLE. The comparison in the table is mado with Friday, October 4th, 1872, when it was known privatcly that tho Secretary would make a financia! coup d'etat. on Monday, October 7th, by a favored fow in administration circlos. On Saturday, October 5th, it was freoly roportcd in Wall street, early in the day, that tho government would sell 16,000,000 gold on Monday, and buy $5,000,000 bonds. - Speculators gencrally covered their short contracts on the Stock Exchange, and bought stocks for a rise, theroby realizing large profits. In tho Gold Koom, spoculators sold out the gold thcy had on hand and wont "short"; and, like thoir brethren on the Stock Exchange, made handsome profits. The securities named in the list aro only those which aro generally active on the Stock Exchange, and yet we find that the government has sueceeded in creating an inflation of $-ll,5:Jl,000 in Ios9 than two weeks. What would tho inflation bc if wc should tako tho advance sn tho entire list of securities dealt in in Wall street? Cortainly not less than $50,000,000. When the Treasury Departmont made this sudden and remarkable deviation fioui its regular monthly programmo for October, announced only a few daysprevious, money on cali with the pledge of stock securities was worth as high as 1-4 of 1 por cont. per diem, or, in pluincr terins, 91 1-4 por (int. pet annum, wliile prime mercantil; paper was discounted in tho open market at 12 to 15 por cent por an mim. Af ter the outflow of gold and greenbacks from tho Treasury on account of this largo operation, money on cali in Wall Ktreet doclinod from 91 1-4 per cent. por annum to ö and G per cent., with oxceptions as low as I and 2 per cent., whilo mcrcantilo paper deelined only from 12 to 15 por cent. to 9 and 12 per cent. Thus it will bo socn that speculators wero onabled to obtain monoy at a decline of about 85 per cent. per annum, while morchants could got it only 3 per cent. cheaper. This shows tho complet furce of calling tho Treasury gold sale and bond purchaso a movemont to assist the merchants. Gold on Friday, October 4th, was 114 3-4 to 115, when the Treasury cliq.no eommenced to scll, and on Friday and Saturday inany uuilions were eold " short" by thoso in the confidonco of tho Administration. - Since then gold has declined to 112 1-4, and these people havo covered their " short " contracts at a largo profit. Foreign exchango has advanced 2 per cent in gold, which oporates against the merchants who have to make reniittances at this season. If any elector in any Ward of the City of Ann Arbor, not already registored, fails to register to-morrow, howill be unable to voto on Tuesday next. Seo anothor column for a list of tho places of meeting of toe Boaïd of Begistration.