, 1866-05-18

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The following communication. relative to the
Badger cnte, has be N cent to rs by responsible
merchant:
The report Of tne Clearing House commltsee
eivc< ue The bankers v1cw of this question; hut
i there not az aspect Of the sase q understood By
s "a e6 Thisa n g &C. me matter IN en
tions Win III. D. Il. badger, fsr winch they r.
understand 10 be one.qnarte9 ot one per
cen, PIT day-or aboni ninety per eent
I'll ss,,5 Hgapn: ion. ,sns sss q o@
ptolt for somebody If escry.hing turned out right.
ILere IL no preteuce that Mcsets. A. 9. Batccs :
edse d .beee ps1tculsr n ea III IL e1 tSey
arc wholly c1oncra:ed hom any susp,caou Of conu-
slou p1th D. Il. Badger; and non the question is,
tn5nety per rent per annnm, also iake 1he 1isS'
Al the matter noT etands they demand all the
profit and want somebody else 10 stand The loss.
fixture. had been owing fomt hundreds Of poor
persons. small depositor.. and instead Of cancetng
a lsEpe debt to his banker, had Distributed his
think that the vlrtnous Indignation Of the gentle
men who take ninety per cent per aunum for the
f1fE, MO 1QGI NRQE EOmerC0y ElfE 10 Ftauu II.
would have been 80 respectfully sustained bY the
community. At ali events tins l. ,he scnslole
view ofa MERCHANT
There Is only one poiut in the above communica-
ton woshy Of comment. It u this: II 1hcse Is
my evidence That B. II. Badger paid any banker In
this usy ninety pei cent per annum" for the nae
Of money, or that either Nj. Blair. Of the Mer-
chants National, or 1r. El!tr, Of the Second Ma
t1onst Bank. e1aced that rate Of Interest from him
in the transactions alluded to- then wonld be se
tbat they should ehare the risk; but there Is no
exchange from him 1t hIs own rate-abich,
cons lderiug that they had to cumbe9 themselves
wlth cold as Eecudty and run the r7sk
| oftEe fluctuations Of the gold market was hir
mmEel rate. II tho banks alluded to were paid At
tie ra!e Of ''utnety PEI cent per annuH for the
use O! their mopeT. We have never heard the thing
/ mentioned either by 4. G. Dadgtr 4 Co., or any
| member Of tha Clearing House. Furthermore, We
know OF no responsible banker In tb1a city who
would hare any1h,ne whatever 10 do With man
Nhu WIS willing 10 Pay Interest al the rate OF 'ntne-
| ty pet cent per annun." u - Aezrhxnt~ thinks
he proEc That sueh rate Of interest was exact
I'd by any OF the banks involved In this ca.e, he
| ought 10 do 90.
II our comments on this case, ws hare Ignored
entirely 10th the amount Of the transactions. and
/ the parties Involved and We have 20 doubt brt
The Clearing Hone. in their Investigation, did the
same. There WIS principle involved which de-
nanced that tho a1alr should not be allowed to
| pass nnuoticed- TINT Acknowledgement Of
| old md clearheaded bauke1s-aster full e1am-
nation Of the caee, decided that Messss Il. c. Bad
ger Co. ought, in accordance With the PRINCIPLES
ofequttJ and fafr dealing. to return the money to
those from whom It uas oblatned. We believe
that these bankers were In earnest when they came
to TINT desIon and that Il will be ac1ed on here
sitter by all who are allowed 10 rematn members Of
the Clearing QQuse.