The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-02-10
PLANS FOR PLUyDERNG THE NATIONAL
TREASURY.

The Treasury Ring-RaiirOad Bond Endorse
nent Ring-Indian Traders Ring-Internal
Revenue Ring-The Whiskey Ring and Mis-
ccIIaneoas Plumber Rings.
WASHINGTON, Feb. 9, 1869.
The schemes or plumber which have been maturing
here during the past four years. and which win, II
possible, be forced through Congress during the
next three weeks, are absolutely frghtfu when
viewed from Taxpayers standpoint. Such mass
OF corrupt jobs never before or heard Of.
the Treasury ring, under pretence OF reducing the
interest our national debt want to continue their
corrupt practices Of the last four years on larger
scale. They want authority given the ring brokers
to purchase government account the 81 100 100000
national bonds now outstanding and at rhe same
time sell a like amount OF new issue. The details
OF this plan are. interesting The Secretary OF the
Treasury is to make a secret bargain with one or
two ring brokers to purchase gwen amount OF the
old bonds--say $50 900. This viii of course in
date the money market that much. The ring brokers'
having exclusive knowledge Of the extent of mia
ton, when it is to commence and when end, can
take their measures accordingly, While tue business
community at large must stumble on 10 ignorance
Alter the market has been properly inflated, and
Just before money needed the crops In from
the West the Secretary OF the Treasury makes an
other secret bargain with his favorite broker to sell
say S35 000 900 Of the new bonds The ring, having
exclusive knowledge OF the extent OF the depletion
long before 1t takes place, can fix things to suit
themselves, and, when tight times come, can realize
one-ha per cent per day Interest on whatever they
may have 10 lend, either their own or government
money. This pleasant operation OF "oulling' and
Ibearlng' the market, with capital of
81 O00 is to be repeated at the pleasure OF the
Treasury ring managers. These favored brokers'
under the McCulloch arrangement, manage TO have
few million dollars of government money con-
stantly ON deposit without interest, ana few mil
lions hand Of unadusted balances, SO they win be
well prepared for the tight times they can bring
oh vho
This is q fair description Of the Treasury
ring operations during the past five or
ak ses 70 somesan Sss In tidt Inc during
the next. Unless the Conkn or judas bill passes
Mr.. McCnlloch win leave Legacy with MS successor
So much for the Treasury ring. II its managers can
have their own way they will realize $4,000, 900
interests OF the people by sudden fluctuations Of
values beyond calculation. -;
If General Grant SHOULD make either Mt: A. T.
there would not be the least danger OF the abuse Of
power that mas disgraced utterly dtsgraced Secre-
tary McCullochs administration OF affairs stu the
people want assurance that the Secretary Of the
Treasury shall not have power TO innate or depress
the market secretly. No honest Secretary wants IL.
and any about whom there ID the least doubt.
a thoroughly corrupt one like Mr.. McCuiloch, should
never have II.
THE BOND ENDORSEMENT RING.
Since the Independent press oil the country has
routed the railroad SUBSIDY obbers horse foot and
dragons, they have consolidated their forces and
changed base. Iney now ask Congress TO guaran-
the interest on 10000 bonds for forty years.
and take first mortgage on the roads for secur1ty
having precedent already established by which
they can lobby through an amendment substituting
O second for first mortgage. So these combined rings
virtually asking Congress for what will be In the
end, II they get IL, . free gift OF
bonds. 0o0, 600
Forty wears, interest. Observation-Disclosures. 302, 100000
Land, estimated value. loo.Ooo0o0
TOtal sos, 100 600
In round numbers, 5000 900, 000 would cover the
modest demand OF the bond endorsement ring !
think they won't get cent, though their attorneys
swarm the lobby night and day.
THE wHIsKEY RING.
Under this head come both the whlskey and In
terna revenue rings fney are both and the same.
Through the kindness OF Messrs. Andrew Johnson
OF this ring have been conducted In manner most
satisfactory to ring managers They have plundered
the government OF full 500 900 per year for
long time past; but the expenses OF the ring
santy increasing Sl25 000 900 Ii the lowest amount
n required 70 support the organization. The
Is believed that they will bear an additional load OF
SIS, 200 and not feel it.
THE MISCELLANEOUS PLUMBER RINGS.
This organization nave IN charge our old friend OF
1904 real forfy-eignt year job-Known as the net
proceeds Choctaw claim. II only requires a. 1872 SEQ.
The enterprising lobby jobbers who have In charge
would not take 81, So. SCI. Thatwoud be one dollar
more than their que and they exact to q cent
Most wonderful are the ways OF lobby jobbers.
The 0eage Indian treaty, by which the people are
rich horde OF hungry Jobbers also under the
head OF miscellaneous jobs A. do others almost too
numerous TO mention.
n one-twentieth part OF the schemes OF plumber
now before Congress manage TO get through the re-
pudiation OF our national debt Ia q fixed fact.