The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-09

Mr.. Van Dyck, the Assistant United States
Treasurer in this city, has published letter
in vindication of the course which he and the
Secretary of the Treasury saw fit to pursue
about the time Of the recent monetary strin-
gency, and more lame and impotent reply to
serious charges we have never read. One Of
these was that the Treasury sold five-twenties
as well as gold at the period referred to; but
to all inquirers on the subject Mr.. Van Dyck
fatty denied having sold any, although the
last statement Of the public debt shows that
three million six hundred thousand dollars Of
new Gve-twenties were issued in September. To
this charge he makes no reference whatever
in his letter, but he goes back to July, 1866,
when he assumed office, and tells Of what he
considers the wonderful performances of him
self and Mr.. McCulloch in funding the debt,
achievements for which he seems to claim the
well known that the work was badly and by
no means economically done.
Mr. Van Dyck admits selling two million
three hundred thousand dollars Of gold be-
tween the 22d and the 3Oth of September, but
gives no satisfactory reason for SO doing and
thus playing into the hands of the clique
Of stockholders and gold gamblers whose
interests were VIGOROUSLY subserved there
by. Evidently smarting under the lash OF
public opinion he falsely attributes all the
censure which has fallen upon the de-
partment to the ''bulls" and ''bears" Of Wall
street, whereas all disinterested persons
were unanimous in their condemnation OF
these Treasury sales of gold and bonds at
this particular crisis in the money mar
ket, and considered them, under the cir
cumstances, public outrage; and when he
says ''both Secretary McCulloch and myself
have the right to ask the confidence and sup
port of right-minded citizens, however we
may share in the denunciations of the selfish
and venal," he assumes right which he docs
not possess Moreover, it is an equally false
the conduct of the Treasury would have
been censured in the public prints,
which he elsewhere speaks of as the
organs Of Wall street. We mentioned a current
report that the Treasury had loaned gold ia
some favored brokers operating for fall; but
Mr.. Van Dyck omiis aasian {" .. .-, IN. o.uc,
unpleasant questions, and by denouncing wha
he considers to be his traduccrs he hopes te
hide his own and Mr.. McCulIoch's mismanage.
ment if nothing more.
We regard this attempt at withdrawing
very dirty looking affair as failure, under
the effect Of which the reputation Of Messrs
McCulloch and Van Dyck in this connection il
not likely to be cleared from the suspicious
which linger ID the nnhllc mind. s'ss
these officials were in league with .
clique of gold gamblers and stock Speculation.
at the period referred to and used their oiiicia
position to serve their personal ends is the
general opinion of the public, and this letter
has done nothing to disturb this belief; and
when we called upon tho President to remove
Messrs McCulloch and Van Dyck from office
we expressed the sentiment of the dsinterested
portion of the entire business community and
not Of ''the selfish aud the vcnal, as Mr.. Var
Dyck is pleased to call them. Mr.. Van Dycl
had better stand down.