In July, Grant reduced the sale of Treasury gold to $2,000,000 per month and subsequent months. Fisk played a role in August in New York, having a letter from Gould, he told Grant his gold policy would destroy the nation. By September, Grant, who was naive in matters of finance, was convinced that a low gold price would help farmers, and the sale of gold for September was not increased. On September 23, when the gold price reached , Boutwell rushed to the White House and talked with Grant. The following day, September 24, known as Black Friday, Grant ordered Boutwell to sell, whereupon Boutwell wired Butterfield in New York, to sell $4,000,000 in gold. The bull market at Gould's Gold Room collapsed, the price of gold plummeted from 160 to , a bear market panic ensued, Gould and Fisk fled for their own safety, while severe economic damages lasted months. By January 1870, the economy resumed its post-war recovery.