The New York herald., 1871-12-26
P|NiNyiiL md GOMNERCIAE.-
-. WALL srRRxr,

extend over to Wednesday. sae1il .sfth4nT 0ptw,
Much curiosity is manifested as to the future ef
the FIench market In View, Of tho sashortxasion
given the Bank OF France to issue 20 large an
amount OF paper currency. ffos .s.ifH gsTf q
,E4 RAILWAY MATTERS e+A% "
The New Jersey West Line Railroad Company has
It's track all laid nom summit to Bernardsviiie. ~
few days ago the engine passed over the whole disI
lance. The passenger trains VIII be running ab0u6
the first OF next month";
Intelligence has been received BY the nnanciay
agents OF the Northern Pacific Railroad at PhiladelJ
phia that the track or tnat road reached Red RiveE
at four O'Clock In the afternoon OF the 18th OF Dc!
cember. .a., n un " N-srf- Iy9no atPCIss8 gNf
ga6 THE SYNDICATE AND THE NEW LOAN ~
50 much obscurity still attends the operations Of
Mr.. Boutwell, and the Syndicate in the manage
ment OF the new loan that every witness who
throws light upon the matter will be read witE
avldity. The special Congressional committee now
at work with ~ should give the results Of their
vestigatlon to the public as soon ~ possible. Mean
time the following from the latest number OF the
0h,pnfcls adds great dear OF now testimony con-
,cerning the erratic IL not oulpabe, conduct OF Mr.
Boutwell:-- ,se nttFsrf1s 4Anlft fpk ptrs3 81 =
Mr.. Boutwell, Thursday called $50, 600, 600 moro
OF the fyetwentes OF 1862, making $l40 600 ia
last August w the me Now
are performing theirs IL but Imperfectiy known, and
pointed to inycsSase sns matter Is looas Tor win
increasing upatience The nrst call for 500 0o0, 0od
$40 900 viii mature at tue beginning or March,,
ana this third cali will mature two weeks later, yh0
The apay s With sca ne Two cams hays &c:
Cured mas tended with other circumstance % un-
moae ns ye II. as
with the new loan and It's management. This un.i
q haas s Sse TH ns ns
than has ever been permitted in the placing Of any
MO loan potent
than the public good has been consulted ip the
whole m arranEem,ents ~ s,s Is TO say the truth NJ Bout
tations, seens 70 have had his suspicious, and ths
aeswevsr ms scrupIcs were nisned u his desre 20
the funiing or the debt. The perseverance
q the syndicate J., was VAS. rewarded by bar nas.
were never conceded Oy any great government Im
g credit ana w Isvsr q again IN. pg e the
was that in addition to the lawful commission pre-
sSed y sc o. Congress e 80 large bonus shoa
aSass a'ss s0H2' S asss e sas
less sum, 81 the new lives within six months The
Secretary also agreed TO sell no moro during that
oiretailins them mere mere as wen as Abroad the nss
q this monopoly Of the sale 10 tnis country y seen
banks TO % inaace e. them to take g a : 1I part d
S hs S ns 1sPas ne synd
q hs ses % Hs
5000 600 only to be sold abroad. For the sale or
Sonas sess eess T0% al ns
time to the syndcat9. There wasa fourth stipua-
Sa s Is rs 81 eas
wod ,a doo allow @ ana ana also to cal for redemption
mo 40 ea "
we're then below par and lively speculation waG
l.r1 Oinu init
Inc market and and buying boldly as they had the
SpSs i G'ng % 70 1x
for the Sinking Fund or !. BY calls for the
posed OF to the Treasury, and sDecuated In without
rskng dollar OF their own capital, estimated at
pTos q Tns Are te q
In return urn or ali these concessions the syndicate
does not seem to have bound Itself by any abs0inte
70 take the new ve per cent bonds and
SIX months Mr. Boutwell, held "a no % security NJ bee be-
eys oy which u ha the negotiation could ne enforced
the Treasury without rGclp rocaly binding the syn
Interest on all the bonds they could pass Oh witiE
1Ss o maSs 10 ne e. 81 q e
leges equivalent TO all the money which the Jrea
sury could save by the reduction or interest durf1g
tiaed rather for the beneG Of the Syndicate tian
ior the relief OF the Treasury, and that regard
pie II this country viii be IN no better position
tnan ify the undl1g operation had been omitteu by
1873 But there are many other causes for the un
popularity OF this new loan. Que VI the most I'M
IA the pubic mind That the whole nesosiation was
Illegal aud u direct violation q the letter and spirit
e essy:s Z g. 81 E
s Ss sssas " Sss. sS Ss sna1
IN m and n WyiQ n ind him ~
Ssrsy but The people @ VIII vi demand @ S'ss ss,sea @
The loan was authorized oy the act Of Congress Of
one half per cent commission to agents, and also also
The following are the essential parts OF the law
sRa l. -. Bun nothing in this Act, Or 10 any other
ne sss q
s ssifsa I'll ia es r. S
Of the bond: Issued under h ACT = no. es. .hAo hcr pc.
@ q Sns Of e s s q s % s
10 par bu, the bonds hereby .Ysorasd .h. b nssd Tor
q
.s GS ss Ss issuing a
II has been said that the Secretary has violated
s' II S'asa' no n
Charge can be sustained. what Ss mas done 10 noss
spas:s 4: took ss se Palms % saaS
TO the aggregate q outstand!nG debt 4 was WITH
Judge Richardson, vito force OF twenty thirty
clerks, to open branch OF the Treasury In London.
e ns no Il %
from the charge or violating the 1rst section OF the
sna 5 pn q as g msw
In tne nrst place he j. ohsrgeq NTH exceeding the
appropriation and burdcning the Treasury with
10 exceed $e,o,oQ0 to pay the entire expense OF Il
ponvfTyng tnU $3.50 000, 200 on nve per cents ~
llen But Mr.. Boutwell, admits more than three
times tnas expense, and has tnus paid higher sum s
conn nu1iaa Wc IA
darkest days or our civil war. Congress intended
that half OF the amount saved the hrst year by re-
6ucOn OF interest should pay the cost OF conversion
and the resIuue belonged to the people. Mr. Bout
well has taken two years. savings, and without law
over TO the Syndicate. The law provided that the
burlens OF She taxpayers should not De increased