New-York tribune., 1868-10-03
FRIDAY. Oct. 9-P. n

FRIDAY. Oct. 2-P. NJ
NJ McCui.o owes II to his own reputation to
ammcdatelv .,.tI- the scandals that are So rife
on Che STREE l. gross mismanagement of the
Treasury De- here. Were the statements
made of recr.. .auslciions now circulated for the
fiTst time, tho .t-lt be some slight grounds foi
doubling th Or. tness unfortunately for the
reputation os H- IrCulloch. his past operations
give color to q. Doe nors circulated. Three times,
within year .s Isl department. been used rs tool
By unpnncip -..ue gamblers TO assist in locking
up money anG ing the markets Of the entire
country disa ...e Us exchanges. and bringing I'M
told losses a.. t productive in terests of the
country IN ..Iie- I,t he accumulated $l3,0o100O
of currency H. s r s at the time of the quarterly
statement, wnaf e Euew lookup was impending.
LIN April last with $40OO0GO of currency on
hand he de-. to buy 7.3Os at 1861 aud
"A soon as tie strngency was over, he
bought them at 1908 20 lO9. and this year. after
letting his cuuuc balance run down on the Isl Of
Septeniber to .. ID sum Of $l5OOOOOO he allowed
1t 10 remain at point until within one rcek Of
tho date Of th, quarterly statement, and then COM
menccd 10 sell a recuperate his balance 10 that
for three quarterr statements when the commercial
needs for money active and all material inter
cate prosperou. tue Treasury Department have
stepped in anu ass q lot OF gamblers IN depre-
ciating prices. a. instance could a corner IN
I
wear the Performance commenced as usual. Ten days
ago the ring OF g. toremment brokers' who are uo;o.
rionsly hangers on OF the Treasury, sold enormous
amounts of gol, aad Government bonds on a strong
market withsut any apparent reason.
few dsys after. Mr. Delmar's figures.
which had beer hawked oil the street for sale to at
least one dealer Ia Governments was issued Then MI
Van Dyck sold sl0D0 in gold al l43 the Government
ring selling probably ten times that amount PRIOR u
ths and also on tie date of sale. MI Van Dyek en-
phaically stated that he not IN the market and
that this year he should do nothing 10 help the bears
This abatement he has fasihed. and has been o
steady seller not only of gold but Government per
cant bonds This last performance is worthy the
financial genius of wilkins Micawber, who until this
time has stood peerless in finance. That Finance
Minister of this country should sell per cent bond
at iO7! 1851 on a stringent money market. when
ahayes were paid by brokers in some instances
making their interest fully 40 per cent and the banks
bad all they could stagger under, forcing them TO
send 10 their per certificates IN payment thus
absolutely selling 20 year gold bond bearing per
cent interest to pay of 3 per cent cur
rency demand loan, is as fine speci-
men Of Democratic fDancering as this
country has ever seen There is but feeling about
the matter both on the street and throughout the
country. and it is that the Treasury Department
by an unscrupuous ring Of spectators, who use the
Department 10 further their private ends at the
. expense of every productive, manufacturing, and
mercantile interest in the country. by depreclating
the value of Governments, selling at inOppOrtune
moments both Governments and gold. The completely
OF the Treasury Department with managers OF Wall
o. operations can be ciphered ont with plainness
aud publicity somewhat startling to plain folks not
used to the ns and outs of the bears and bulls that
dspOrt themselves with the market prices Of other
peoples property. The country reeOects TO its cost
Che tight money market Of last Spring which was
brought about entirely by the Treasury Department
ceiling bonds and gold secretly and locking up the
greenbacks in the Assistant Treasury. When the
money squeeze at its tightest and loans on Gov
ernment bonds were making at and per cent per
day the Assistant Treasurer was asked 10 buy 7.3O
notes at 1854 in order TO relieve the money market
He refused to do this. although he had balance Of
more than 100000 of currency on hand. Mr. Van
Dyck had collected this large balance Of money for
the avOwed purpose OF buying these same 730 notes
In order TO cancel them when, in his judgment. the
price wasfavorable 10 Government 1t is known that
parties who hold personal and intimate relations with
him were what is called bears" on the market for
Governments and stocks before the Assistant Treas
-ureI began to lock up greenbacks, and make money
tight last Spring. These Wallst. gamblers and
mont bonds. when the money market easy and
then prices high, realizing large profits from the
tumble caused by the tight money resulting from
hf Van Dyck's locking up greenbacks. Although
be refused to buy the 7S0 notes at 1861 for Govern
ment. 70 relieve the money market, yet his intimate
friends did buy them, and strange 20 say afterward
sold them at 1904 70 llO when money was easy. and
BIZ Van Dyck was buying at those prices for Gov
eminent Why did Mr.. Van Dyck buy 7S0 notes at
100 20 l091 when he refused 10 buy them at 1864 a
few weeks beforei Why were Mr.. Van Dycks
friends sharp enough TO make this profit OF four per
cent on t7000O0 to - 10000 of 70 notes WHEN Mr.
Nan Dyck could not see il for Gogenmentf This
nice little game in the Spring paid so well that
Bit Van Dyek has tried 1t on again this
Fail Mr.. Van Dyck while so generous in
giving sure" information to his friends,
was wonderfully recent TO everybody else. In fact
the very time he selling from s3OO.OOO 20
$4,000 Of gold daily for Government he positively
assured everybody mot in the rng) that came near
him that he had not sold any gold for Government
and had no intention Of doing ss" Thus Mr.. Van
Dyck prostitated his Office as Assistant Treasurer 10