THE FARMER'S WAR AGAINST MONOPOLIES. 139 



gitimate business, and the Erie managers were informed 

 that fifty millions of additional currency would be issued 

 if necessary to relieve the community. This threat 

 and only this brought the conspirators to a halt. 



They had calculated their movements well, however, 

 and they now wheeled about and began to run up the 

 stock, and instantly sent it from 40 up to 50. 



" At this point Mr. Daniel Drew once more made his 

 appearance on the stage. ... At first he had combined 

 with his old friends, the present directors, in their ' lock- 

 ing-up ' conspiracy. He had agreed to assist them to 

 the extent of four millions. The vacillating, timid 

 nature of the man, however, could not keep pace with 

 his more daring and determined associates, and after 

 embarking a million, becoming alarmed at the success 

 of the joint operations and the remonstrances of those 

 who were threatened with ruin, he withdrew his funds 

 from the operators' control, and himself from their coun- 

 cils. But though he did not care to run the risk or to 

 incur the odium, he had no sort of objection to sharing 

 the spoils. Knowing, therefore, or supposing that he 

 knew, the plan of campaign, and that plan jumping 

 with his own bearish inclinations, he continued, on his 

 own account, operations looking for a fall. One may 

 easily conceive the wrath of the Erie operators at such 

 a treacherous policy ; and it is not difficult to imagine 

 their vows of vengeance. Meanwhile all went well 

 with Daniel Drew. Erie looked worse and worse, and 

 the golden harvest seemed drawing near. By the mid- 

 dle of November he had contracted for the delivery of 

 some seventy thousand shares at current prices, averag^ 

 ing, perhaps, 38, and probably was counting his gains. 

 He did not appreciate the full power and resources of 



