The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-09

TIE ALBANY REGENCY AND CONTROLLER
FLAGG.-Some twenty years ago-perhaps
little more-there was in this State o secret
conclsve, which exercised . great influence
over the politics Of the State and the nation.
This body was Known as the Albany Regency.
They resemb'ed the Know Nothings in the
point Of secrecy, and they possessed as great
an amount of infueL ce az that mysterious
order.
The great leaders of he Albany Regency
were Martin v. Buren,, W o is now in Rome
studying the doctrines If the Propaganda, and
preparing to give his opinion as to the imma-
culate conception; Viii lam L. Marcy, the Men
tor Of Telemachus Pierce, a that extraordi-
nary pc itician, Azariah C. Flagg, Comptroller
Of the lily and county Of New York.
The Albany Regency performed some re-
markable political feats in its day. The first
of these was the overthrow of De Witt Clinton
and his ecion fir m the Canal Board. There
was also the famous quarrel between jackson
and Calhoun which established Martin Van
Buren, in the line Of succession to the Presiden-
tial chair When this prominent leader of the
Regency becam Presto ent of the United States,
the peculiar policy Of the Regency became ap-
parent in he measures which ruined public
and private credit, brought distress and beg
gary to thousan Of American 6resides, caused
ipnumerable bankruptcies in our large cities,
depressed the public securities, and induced
general upheavipg in our commercial affairs
by the entire breaking up Of public confidence
10 the banking system. The Albany Regency's
leader brought about the dark days Of 1887.
The development of these facts drove the
democrats from power, and they have never
regained their old position, either in the State
or the nation. The Regency fell. and has only
since been heard Of when an occasional stray
timber would rise from the depths to which
the wi ole ediice had been consigned.
1t is somew hat singular that one of the prin-
cipal timbers in the Regency wreck should
have come tumbling up after so many years !;
that this timber, aking favorable eddy, has
been whirled into the position Of Comptroller
of the city of New York and that he should
now be attempting the same g, me with the city
finances which almost ruined those of the
nation eighteen years ago.
The Albany Regency always pretended to
the strictest puritanism in politics, and they
were all the time lying and filling their own
pockets. During the last two years we have
had specimen of the revival OF this system in
the absurd and ridiculous conduct of Mr..
Comptroller Flagg while pretending to admin
lister the financial affairs of the city. Here we
have the remars able spectacle of city having
nearly million of dollars surplus funds lying
idle in the Mechanics Bank, and being used
for stock jobbing purposes by the friends Of
that institution, while Comptroller Flagg
throws difficulties in the way of its increase by
refusing to pa4 a salaries of city officers, and
the claims of small contractors who have
finished their jobe. And all this is done under
the protection of the cry of reform.
Such reform indicates too clearly an attempt
to re-establish the Albany Regency, with Flagg
as the main trunk, and the Reform clique as
the branches, and with the Regency the same
financial policy which brought ruin and de-
struction upon our credit system in the three
years previous to 1910.