The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-04-21

commenting on an aiueie oh uie 9'io " NV Nv"
York Courier and Enquirer; n
From the n York Journal of Commerce, April 10 II
sit is now said by letterwrters that the Secretary has
resolved to call in the loan al the rate OF only Two millions
month II this be true, and 1t had oeen TOLD 10 me bid
ers before they made their Oilers Gang he secretary was
nnorned give them notice OF the sums and times
in and which he would probably wan. money! II would
probably enhanced the rate OF bidding But whether
rue or not there is positive evil that there should be any
uncertainty in the matter and there Is no excuse Tor com
pabe with honest and intelligent discharge oil the du
lies Of the department.
The above is one paragraph of political money article
in The Courier of Saturday 1t is very easy and agreeable
arhaps to sit up stairs Armchair, and presume that
IN The world is poorly informed ones self Yet there
Is better though more laborous way, and that is 10 know
AT least so much generally known in the street below
10 make practical application OF these general remarks
II well known through all Wall street, that the Secretary
of the Treasury did TO all the gentlemen, that although
he could pledge himself amounts he could say that
the money loaned would not be called Tor faster than 1t
should wanted for disbursements and that, in his udg
nen the called for from May to September, would
lie at Washington as that money was wanted at ALL As
10 making all the bids public, the plan adopted by the
Secretary quite satisfactory 10 all the bidders. There is
not the slightest Suspicion that the Secretary acted unfairly
The successful bidders KNOWN and the unsuccessful
known to themselves Is OF no importance that they
should be known more extensively. fany man bid more
than oneeighth of one per PREMIUM and did
ceive what he bid for let him speak, for he has been
wronged But there are no such persons.
The whole matter is perfectly well understood Some Of
the parties here and AT Boston, eager for good
bargain Almost all the great bidders of Wall street and
State street. in conformity with the urgent opinion of one
of the chiefs agreed to bid together in bunch, al
least price, and that to be five cents premium
hundred dollars Corcoran u Riggs urged become
parties this arrangement and knew all about it, and
seemed inclined TO do SO, but did not finally come in
The great bidders felt sure however, that Cocoan& Riggs
would be plenty for all Corcoran Riggs therefore, need
ed no information help from the Secretary They knew
all na Sea ey al ss
had bid for large at twelve and onehnlf cents pre-
MUM on hundred dollars and Corcoran Riggs had of
iered to take any that price which might remain
twas grand sweep, and grand disappointment But
should be wanted, the bidding win be better plan
The whole affair is most gratifying testimony the
growing wealth OF our country, and proves that though
many Of our capitalists cry the of free trade
and the subreasury, yet the fundamental substratum Of
moneyed opinion, firm confidence in the government
and people of the country, and thorough disbelief in the
representations OF disaster
In reply to this the Courier and Enquirer of next day
remarks as follows
From the N. Y. Courier and Enquirer, April 2Ol
For the fanccs, to-day, there much liking, and
prices dropping The United States treasury notes
are brisk 81 and though Santa Annals talk is anything
but pacific, and it is difficult how, in such dsor-
naemen can be undertaken with ybodythe hope and
expectation TO be that peace is at hand and this feel
ing the Washington official rather encourageswhether
help the stock OF the loan because such its pres
ent information or prompting, + Is not easy to determine
very valuable and cannot any be other than
safe and good investment.
OH excuse accuse is shrewd French proverb which
may be well applied very sesuticien article in the
Journal OF Commerce OF this morning, which is forward
indicate the Secretary of the Treasury from imaginary
cusaton.
In our money article of Friday night, isa paragraph inn
porting that it mistake both practically and in prn-
cple the Secretary of the Treasury inviting bids
for late loan, accede to the request of the persons
desrou become bidders, for information as to the
and times in and at which lie would require payments
added that such course was not compatible with hon
est and intelligent discharge of the duties of the office
We urged ALSO the popriey that everything connected
with bids for, and awards of the loan should be public
the best security for fairplay.
The Journal Of Commerce that the Secretary of the
Treasury did make known the he would require
monthly and making the bids public SAYS 1.-THE
TO all
the bdders This last assertion know to be unonnd-
ed The Journal of Commerce, then, unmindful of our
French proverb goes say, There is not the slightest
suspicion nor ground Of suspicion that the Secretary act
and this defence before accusaon indicative OF
tenderness OF foot which does not belong complete sound
ness!
The Jonna in its f,cetious and modest way ntimates
that its knowledge of the connected with the bids
for this loan extensive and accurate than our
and rebukes Tor writing sup stairs in arr-char
instead ofgettng what is known in the street below.
neousy If the truth easily asceraincd the
Journal implies but it is precisely among the strongest OBJ
ectons this want OF previous opemess and irankness in
ton, that necessarily puts the public and those who
watch for information to be communicated TO the public,
ct the discretion parties who may, who may not, COM
facts which, nevertheless, all have interest OF
some sort in knowing and which there is no good public
inform ourselves the subject from parties who certainly
knew and we were accurately informed
As to the OF fact issue between the Journal OF
Commerce and ourselves reaffirm that the Secretary
was mporuned to specify sums and times for the pay
he would require and that he did not would
The Journal of Commerce, appearing deny this, says,
sit well known through all Wall street, that the Secrea-
y of the Treasury did Say TO all the gentlemen that, al
though he could pledge himself amounts, he could
that the money loaned should not be called for faster
than should be wanted for disbursement; and that
his Judgment, the money caled lo would be than
Two millions month.
Is not this pretty of assurance upon which the pay
of tens of millions to be m,denakcn--tha the
money should be called for than
and that the Secretary did believe tat he should want
more than two millions month; but he could give no
pledge the subject The Journals version admits sub
Stnnf oly I'll nj ont htnv flnt
version is not reconceable with the whole truth for we
have the letter from the Secretary
written from here ascertain what he would want,
and when, in which he expressly declines giving any
pledge the subject but estimates his probable wants
three millions month; it might be less, or more.
The Journal is little accurate in ts story about Coco
ran Riggs Instead of being urged become parties to
The arrangement of joint bid by the Boston and New
York bidders those gentlemen themselves, with great libe
raity seems to considering their position and better
come parties They said they wanted one-thrd ofhe loan,
ana hat admitted to such SHARE they would unite with the
Boston and New York bidders bid for the whole The
Boston and New York men, unwsely turned out and,
indeed as ptot IT might be assumed declined any such
participation, and consequently Corcoran Riggs they
were quite right in doing having satisfied themselves
probable rates OF the oilers quietly put in their proposals al
oil per cent for the whole oan any part of undis-
posed Of
Now do certainly mean to insinuate q suspicion,
m we do not entertain any, that these gentlemen, by
their position and associations Washington and the
aenues they have II in their power afford, offer to
all bidders
They sagacious gentlemen on good footing the
treasury, and Interested of course Knowing far
loan We have heard but of that have positive evil
aenee that bids for considerable of the loan
made by letters not designated show they bids
Tor the oanand that consequently letters open
ed and their contents talked about before the time for