During the first week of September, Grant's Secretary of the Treasury George S. Boutwell received a letter from Grant telling him gold sales would be harmful to Western farmers, a notion planted by Gould and Fisk. Boutwell suspended Treasury gold sales. At the same time, Gould and Fisk began buying gold through New York City's "Gold Room", raising the price of gold. After learning about the nature of their scheme, Grant first told Corbin to unload his gold holdings before ordering the release of $4 million in government gold on September 24. Grant's move immediately drove down the price of gold, crushing the "Gold Ring"'s corner on the market. A panic on Wall Street ensued and the country went through months of economic turmoil. Thanks to Grant's efforts, as well as those of his administration, a national depression was averted. Gould and Fisk hired the best defense available. Favored by Tweed Ring judges, the conspiratorial partners escaped prosecution. An 1870 government investigation, headed by fellow Republican James A. Garfield, exonerated Grant of any illicit involvement in the conspiracy.