The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-02-10
FIRST EDITIO N
PLU n D H R.
Plans and Schemes to Rob the
National Treasury-The Mis-
ceIIaneOus Rings and
Their Intent.

The New York Herald Of this morning con-
tains correspondence from Washington of
yesterday, as 10 loWs;-
The schemes Of plundtr which have been
maturing here during the past four years, and
which will, If possible, be forced through Con-
gress during the next three weeks, are aoso'
lutely frlghtiul when viewed from taxpayers
standpoint. Such sa mass OF corrupt jobs was
never tore seen or heard OF.
The Treasury ring, under pretense OF reducing
tn interest on our national debt want TO con-
tinue their corrupt practices OF the last iour
years on larger scale. They want authorlty
given the ring brokers to purchase on Govern
ment account the So, 100, 600, 600 national bonds
now outstanding and at the same time sell
like amount Of new issue. The details OF this
plan are interesting. The Secretary OF the
Treasury is 10 make secret bargain with one
ortwo ring brokers TO purchase given amount
o the old bonds-say 500, 900, 900. This will of
course initiate the money market that much.
The ring brokers, having exclusive kno Wedge
Of the extent OF imitation, when tits TO commence
and when end, can take their measures accord
ingly, while the business community at large
must stumble on in ignorance.
After the market has been properly inflated,
and lust before money is needed to move the
crops in from the West, thei Secretary of the
Treasury makes another secret bargain with his
favorite broker TO sell say $35, 100000 of the
new bonds. The ring having exc exclusive n Know Know,
il takes place, can fix things TO suit themselves,
and, when tight times come, can realize one
halt per cent; per day Interest on whatever y they
ment money. This pleasant operation OF bull.
Ing" and "bearlng" the market, with a capltal
OF 81 100 OO0, ,006, is to be repeated at the plea
sure of the Treasury RUG managers. These
favored brokers, under the McCulloch arrange.
mept, manage to have q few million dollars OF
Government money constantly on deposit with
o6t interest, and a few millions on hand OF
uDadiusted balances, SO they will be well
prepared for the tight times they can bring
about whenever they please. u-.-..
This Is fair description OF the Treasury ring
operations during the past five or six years. 1t
is expected that they will be able to do some
thing in that line during the next Unless the
nkS % eave or esocy with will his successor that viii
give General Grants administration trouble.
So much for the Treasury ring. If its managers
can bave their own way they Will realize
$50, 600, 600 during the next four years aud
iDure the business interests OF the people by
sudden fluctuations of value beyond calculation.
II General Grant should make either Mr.. A. 7.
Stewart or John j. Cisco Secretary OF the Irea-
sury, there would not be the least danger OF the
abuse of power that has disgraced, utterly
dlsgraced, Secretary McCulloch's administration
of affairs. Still the people want assurance that
the Secretary of the Treasury shall not have
power to initiate or depress the market secretly.
No honest secretary wants 1t, and any one
about whom there is the least dou0t or
thoroughly corrupt one like Mr.. McCulloch.
should never have it.
THE BOND ENDORSEMENT RING.
Since the independent press of the country
has routed the railroad subsidy jobbers, horse,
loot and dragons, they have consolidated their
forces and changed base. They now ask Con-
gress to guarantee the Interest on Sl26,eOO,OOO
bonds Tor lorty years, and take first mortgage
on the roads for security. having precedent
already established by which they can lobby
through an amendment substituting a second
for 6rst mortgage. So these combined rings are
virtually asking Congress tor what will be in
the end, if they get it, free gift OF
Forty years interest 3O2 100000
Land, estimated value lOO,OOO'OOO
,4OOOOO
In round numbers, 5000, 600, 600 would cover
the modest demand Of the bond endorsement
ring. | think they won't get a cent, though
their "attorncys' swarm the lobby night and
THE WHISKY RING.
Under this head come both the whisky and
internal revenue rings. They are both one and
the same. Through the Kindness OF Messrs.
Andrew johnson, Hugh McCOlioch, and E. A.
Rollins, the affairs OF this ring have been con-
Quoted in a manner most satisfactory to ring
managers. They have plundered the Govern
ment of full 500, 900 per year for a long
\ lime past; but the expenses OF the ring are
CONSTANTLY increasing; Sl25 900 oOO Is the low
est amount now required to support the orga-
llzatiop. The people have stood the burden
for four years and it is believed that they will
bear an additional load of S25 1000, 900 and not
feel ii.
THE MISCELLANEOUS PLUMBER RINGS.
This organization have in charge our old
friend OF 1924 real ioriy-eight year, Job
known as The net proceeds Choctaw claim
IL only requires 81, 1892, 800. The enterprising
lobby.iobbers who have it in charge would not
take 1882, SCI. That would be one dollar
more tnan their due, aud they are exact to a
cent. Most wonderful are the ways OF lobby
iObbers.
The Usage Indian treaty, by which the people
are to be plundered OF $24 10000 worth of
land to enrich horde OF hungry jobbers, also
comes under the head OF miscellaneous jobs as
DO others almost too numerous 10 mention.
If oue.twenteth part OF the schemes of plum
der now before Congress manage > get through,
the population of our national debt is a fixed