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rty or forty-five per cent premium. He attributed the excessive and rapid advance of the price of gold to the persons who had sold short and who, becoming alarmed, attempted to cover their sales by making purchases, and by bidding against each other carried the price from about 140 to 160. The same statement was made by Mr. Fisk as to the cause of the excessive rise in the price of gold. He said: "It went up to sixty, for the reason that there were in that market a hundred men short of gold. There were banking houses which had stood for fifty years, and who did not know but what they were ruined. They rushed into the market to cover their shorts. I think it went from forty-five to sixty without the purchase of more than $600,000 or $700,000 of gold. It went there in consequence of the frightened bear interests. There was a feeling that there was no gold in the market and that the Government would not let any gold go out." At the time of the gold panic, Gould and Fisk were interested in the business of railway transportation from the West to the seaboard, and Mr. Fisk made a statement which sets forth the theory on which he and Gould professed to act. Fisk said: "The whole movement was based upon a desire on our part to employ our men and work our power getting surplus crops moved East and receiving for ourselves that portion of the transportation properly belonging to our road. That was the beginning of the movement, and the further operations were based upon the promise of what Corbin said the Government would do." From the testimony of Jay Gould and James Fisk, Jr., as it appeared in the printed report, we are able to comprehend the characteristics of the two men. Gould was cool and collected from beginning to end, with no indication in his statements that the events of the 24th of September had in any particular disturbed him in temper or nerve or confidence in his ability to meet the exigencies of the situation. On the other hand, the testimony of Fisk indicated the absence of the qualities ascribed to Gould, and during his examination he failed to maintain even ordinary equanimity of temper. He interfered with the proceedings, and delivered this address to the committee: "I must state that I must ask you gentlemen to summon witnesses whose names I shall give you. My men are starving. When the newspapers told you we were keeping away from this committee, I say to you that there is no man in this
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