Editor's note: In its October 2004 issue, this journal published a vivid account by Lewis Saum, the well-known historian of the nineteenth-century press, of the dispatches and misadventures of Chicago reporter James “Phocion” Howard during the Black Hills gold rush of 1875. A complete product of an age when news correspondents made no pretence of detachment and no effort to avoid becoming part of their stories, Howard, through what he wrote and what he did, was the sort of reporter who contributed mightily to the image of the post-Civil War era as a Gilded Age. This brief account follows Howard back a little in time, to 1873, when he was noisily bursting illusions along the line of the Northern Pacific Railroad just at the moment when that line's bankruptcy hurled the country into its worst economic collapse in decades.