, 1870-01-20

L &Ua l0tVs ...
here SIC reft feT Who pould 10: sc- Is the e'e
vAtos p1oprtesurs do, ard many woeld 90 much
utr1e tnIl rq, and ttu1 czll Themselves ncrofao
| mtp, II they had the power. Tbs vsieno' 8 =
| n.en simply lake advapssfe OF pa;laan
In VII eh the7 have tecr plsced o1 the tac1s cou-
tent Of lhe ncss Of grnt1 operators, ana tceJ
have eIjoj ed the privileges Of III: pos'uo1 30
lorg tba. fney Das Ren tc 10Th to Part with tne'a.
It Las been cla.Etd Tor them that theJ nave
precedent IN the custom Of handtcg bark fontk-
1. Is cay, however, see that The two cases are
eu1t1els different. The banker &dsefttses tnAt he
wisnes to use the morey Of dcpositots3 and Is
cflen Wl1tBg 10 poy interest for the r'gar TO uie
II. The deposlter really LENDS money for a coustd-
era!top,-onty oortlon Of which Il tnat 1t snAu
be taken care OF for him, and returned ~ called
for. The ovutT OF g1ata seuca II 10 the warehouse
to he taken caro- OF, bot lrslead OF
being paid for the privilege OF using It. and
uaditg on II, he has 10 pay tor the aeconmodA.
t.en, aid psys 3 sum which Is amply sutdctcass TO
ren 1ne1ate the ua1ehousemau for the trouble
ard res esponslhluty. TINS waEenouaemAn has no
mote signt 70 tzAde on che property committed TO
hl1 Keeping than the banker has 10 loan ont prop
eTty lett with him On special deposit or as c.llat-
e.a security for tho payment OF loan. Tao
eal ker cannot do this without oeIng liable to
that he has the right to do the equivalent taine,
and that without giving an account Of hts uans.
actots.
Aaaln, the banker is subject to .he wholesore
regulation Ct being obliged to repoft, at u1certain
In eIsnlr, the exnct cord1lcn Of his s1aits, tbs
ancuut OF debts aid credits. circulation. and Dc
posIts added to which, We believe, he Is required
10 give security IN The shape Ct natons, bonds for
the redemption Of hls oirculatton. A2stnst all
this, the varehou.eman does nothing except to
rrbdes coE9Iomersled resurn reekly, wh:cu ID
80 mixed up lnar 1t does no. nsmir OF residcauoc.
The weekly grain sratsmeLt Is made up tt cooked
up some persons m,gas sa5} In lhe oolea OF ose
cf tpe elevators, for ali Of them. There ia not
srgle warehousemau In the city who
ever makes, q Ietufn to the Rolrd Of
Trade Of tie auount Of grain On
hand in his hocse. he may hare grain paper ont
to the aEuunt or COO coo buscelf, nuo no. soul
Il 10 kuou whether nc has III a mutton bushels
on 1a1d TO meet the paper with on presentation.
He gives 20 securlsy for the c1ocal!tng Of his
"promises :" on presentation; and, Hotss than
al, he Is permitted TO uss this props1ty which
belongs 10 other people. and they r1us. pay him
tor doing 60. II he ccooaes 10 ores.!ssue fos
nilliun bn4he1s ol grsln, there Is roproIess koo1n
by which the fact can be datecled, md he "a aale
10 charge cents to ceuts Per baaaei stotags on
the whole OF Tits EJtaical sun, Ehic1 rot only
1eyer Htns into hts warehouse, but never had
al tIiAtence.
Neenall see the case little more plainly, If We
follow ont the cont1asl through few o1 the lead
lIg features:
The t1nktr: I. lie depos.tA certain sum IN
United 6tates b2cda, as security toat h1s cucu.a-
rIu1 shAll be ,pdeeEtd; 9. TEat Amount IS
KIonn publicly; >. Hls clcu!a.ioa IL limited
IA au.tuut by the aDount OF bo.ds 60 depo.tsed;
l. II he full 10 nett his engagements The
RovrrEn eot tzkCs action i'atanttr, AID nls notes
lsred ate ledeen ed u the holders cut Of the pro-
Cseli Il tht bOLts.
1he ua,sAsu.tnau: ]. The gsaln-deallrs COM
nuL,t5 oepolit with him .he sra,n from which his
rcus {e1htn 1ecelpt.> are to be redeemed; 9.
i hat anIpnt Is cart fully concealed By him from
The public: 3. LIS lsbpes Of Erain paper a1e lin
tied cLty by The elasticity of bis own conscience,
sr bis regard 10 tie tanser OF detection, which Is
very tnRl, So there are no means or nndtpg 1t
ont: 4. II he fall to redeem his p2per there Ii
10 Iecorrsc-he eau sell shcft TO ar5 r1tenr, de.
LIVER receipts for mythical 9ralu, and u the C,ar-
ler gees IN his favor he can buy In those
receipts ut pront charging storage on
all of theM-n the n.Alket should
,aEe a tuIn out OF hts reach. and the
gra.n be called for, he csn have bis machinery
trtak torrn at the right moment, and keep whole
neet Of boats waiting for several daga till they
are sent another elevator BY the dseusted ship
per, who eau he deted 10 enter the house and see
there Ia no grain 10 noYe. He can contloa. this
TOR an indefinite period. the only recourse against
HIN being By civil suit, aud. perdlnE thst, he can
buy IN his deprecated paper at an enormous DIS
count, and 6taIk again with Light heart and a
heavy pockeL
We say that the Harehouaeman ran do MI this; {;
we DO not cay that he does do IT, Bat these state
nenA are Lot outside Of the rage Of the prcpa-
b titles, and may be developed Into the domain u
the actual ut aLy moneut. We claim that there
Is 20 nan IN existence, no vestr pare.minded, who
ought TO hare such poNes placed IN hla hands.
ne claim that no other class OF men have Eucn a
power over the property OF American citizens.
We Claim, further, thst no honest man, haglng the
property Of Others IN his keeping, Will ever be nverse
to ietnng the owners Know all about It whtneser
they wsnt 10 know, provided cnly that the lnves-
t:gauon ahall Eut he yexatious one. No honest
man Hll ever shrink from letting the public,
whose property he Is presumed ind paid to hold
Know whether he has 1t II h,s possession or not;
pn1 the warehe usmen Of this city would see the
utter uotenantlty Of thelr position II they had
not eEIoj ed tie privileged monopoly 10 long with.
out question that, lie the a11stoIats Of the Old
World, md the ba1rac:es Of the New, they havo
coEe to loot upon 1t as rresertpuva right We
trust that the dag OF better th:cRa Is daNning,
We have used the word ''cootirg - in reference
to the ntaeneais OF grain IN store, and though Il
IS hard VOID, the circumstances OF the day
seenl to justify II. We ask the attention Of the
| v2lehousemen to their abatement, posted to day,
thoEtDg that tee1e we're IL, 2ss bu less OF No.
Epllng Ia store on Monday marnfng last, than one
week previously, and compare It E1th the Inspec-
tors Iport that 80 cara Of that grade we're tl-
Epected into store during last week. while 49,
nu were Inspected ont. The 15o cars received are
equal to about $500 bn. 60 lha: there should Be
about 81 goo bu more IN tt9re, 1ustead Of las,
| bn less. There were e48 case, or 81. 100 bu
oI No spring received aEd 81 T51 hu Of the sane
grade inspected out, 30 tnat there should b. about
1900 bu more Nc. In 6torc than last week,
wEereAs the table IN another column Ehown the
cxce6a 10 be sl,Is2 bu. NoW, there nsures Ind
cate Of two things: eithEr that The returns Of
grain In store arc cot wotth rush, being merely
gnetsea at Rde up 10 suit. or e-e that great
Lcary bushels Of wheat which was inspected Ia as
10. was inspected ont as beloagtcX 10 soms
higher grade. Where the difference cf.sc per bu
uorld 90 to re l.Aye ioT Others 10 tell Tne tn-
telligcLt grain operator who does Eot IN elesA-
tor stock can perhaps guess; at least, he knows
where Il has ,sot gone to.
TITS Ia only one out Of many samples Of huge
d!scIepaEcJ between TWO different se.s Of hgntes
1t would to lncrestiDg to knox ,skieh OF the e!e
yatoss has got 20 much iess No. spring than 1t
ought to have, AID where The balance naa gone
| tc, ard whether the grain paper has been taken
up on the deficiency or IS s;ul out. U1t We are for
b:dden to solve the enigma and leave the SUBJECT
for the present.