The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-07-07

some few Of the modes of fnsncierng prac,ed about
these times With such industrious concerns as the
Journal the public might be robbed and plundered Of
'"e~ las. iarthing' The government pigs get into
every hodys lot without any cause for railns being dis
mat ndustrisul prins. II Is little singular
however that on the same day which the Journal is
made to charge the attempt upon subordinate on
MUS ieuer published in penny print dsted PbadeI
pAa' "here part OF the executive family now Ia d.
the course Of the Secretary on the ground that
~ ~" pissed at the " late session" of Congress pro.
e' 'na' 'ne interest should be paid in January and
:, '"'e" ~ me THfe Of sir per cent per annum. 1t
ho consequence whether the attempt originated
" me peculiar ~ording cfMe iap, with view to a Pc
lunar construction thereafter or in forced construction
" Oh 'ceidcntai wording Now the loan on which this
''e"P. mas been made, issued under the act of
APP" io'h' 1872 1.-THE law required the interest to bo
ouia'eo' why wss it not calculated" for the Janu-
airy interest," when 1921 days interest only was paid in
'eao OIL lSa days. which the actualtime No there
was no thought of Calculating" until the July interest,"
"hen there being but 1871 days. it was calculated" that
II would be pretty "cute" to calculate the stock
hoideIs out othe three days interest The public will
NOT however, put up with it; and then 1t calculated"
na' ome subordinate" governs the department, and
transmits orders to all the government agents violate
the laws on his own responsibility. Then amends are
made, by requesting the stockholders only "to call
again" Who is to snerate them for the loss
OF time, trouble, and the vexation they suffer
IN running after their interest," wrong fully withheld
Who to remunerae the Mexican claimants for the DE-
lay in getting their money while the claim of an ne
cient agent is under debate Washington Who in 10
remunerate the holders of the Treasury notes pretended
to have been cancelled Why are all these tricks and
plumbers committed-and who is responsible in rela.
uon to The elmen of the Treasury notes. the letter of
the secretary Of May % admits that il is exceedingly diff
hcu not impossible to trace any indications Of havpg
Deeh cancelled" Why is it difficult 1t may be for two
reasons viz that never done at all or that was
improperly done. The only way to cancel note is TO
cut 1t through No Experiments of chemists, will OBJ
terate that evidence Of payment Are the public al
ways to be accomplishing sufferers through the folly of
ineihcent executive officers
We alluded yesterday to a new bank which is now or
ganizng IN Paris. There now but two Joint stock
banks In Paris viz the bank of France and that Of Lae
Co Hence it supposed that the new bank will have
broad field for operation The shares are of 1000 francs
and will bear an invariable interest of
per cent paybe September 30h which may be
10 per cent to be made from the fund in case
the dividends should not yield sufficient for the purpose
including the interest The organization of the bank is
worthy great consideration 1t is not peculiar this
institution but is the general law upon this subject Ac
cordlng to the French law law deserv ing of a ntion
by the legislatures of this country societies of copartners
en- coandte are expressly and without the necessity of
special Legislative other enactment absoved from all
Liabilities hey ond the amount of stock subscribed ts
an additional Recommendation OF this commercial legsa.
ton, that though the risk of the share propyeors is thus
clearly hmited and defined, the responsibility the &c.
tors and administrators in chief geranD by whom the
joint stock undertaking is managed and carried on IS left
full ond complete extending the ,choe of ei, pro.
perry besides me inpoiped their shares as in the
case of private partnership, or where singy parties
transact business their account and for their own
sole profit OF the 1000 shares taken by the Directors
enc half paid Up are made Miserable" and ode
posted as security for the faithful performance of their
trusts In tho event Of loss equal per cent of the
capital stock the company may be dissolved pso faeto
cu not as may be assumed matt of course ssould
the shareholders determine otherwise In case of loss
excecdng Is per cent the 500 non transferable maid
up shares belonging to the directors are to bear the loss
exceeding that per censge These are sautary checks
which have an immense influence in putting an end to
the ahomnabe neglect and miman of directors
which has SO long Disgrace and ruined many of our cor
porations eniorces the attention and responsibility O.
the directors to the duty which they in taking
of the property Of Others and should be enerafted
upon laws.