New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-11-27
WASHINGTON.
BOUTWELL, AND THE SYNpI
CATE

SECRETARY BOUTWELL, AND THE SYSDI
CATE.
pIssATIsFACT1ON AMONG CoHGRrssMEN WITH
BOUTwELLS COURSE IN FUNDING TIE
pEBI-HE IN ACCUSED or VIOLATING TIE
LAW IN lis CONTRARY WITH TIE siNpI-
CATE.
WASHINGTON, Nov. 2j.-Sccrctary Routwcll's
bargain with tho s. Idcc for the sole Of the lyo per
NJ bonds docs MT acct with the approval OF lnany OK
T." COngrcscn wNn have returned here and there arc
Indications that 1t WI. be severely criticized In the
House SOON after tho opening Of tic ses.
Sion There Ia talk Of . resolution, calling
upon tho Secretary to cxrlain under what
provisions or law he acted or Imagined he was acting
the contract he mad with the Syndicate He Is CHARGED
with having violated the law IN two important partcu
lars, n'Hey, IN increasing tho public debt temporarily
and Ill exceeding the onchalf o: ono per cent allowed
by the lrning Act for all expenses placing the loa
In tie latter r OF the first ton OF the act there
\ J. SNne probiNit' arrnst any Increase Of tho
Gc!t IN T. csc WGIGs: "But rothi.g in this act
in a,y other law in force shall he construed to
authorize increase whatever Of the bonded debt Of
tho Ciot States" This provision, It is alleged, Mr.
Boutwell, cr>y dist rdci in allowing tac six mt
l'rGs !! Faced Ivy the ~ pe: remain ,u!c
Crd AID draw interest FOR tho bnt III Of the Syndicate
ic tlr period of three months. During that period the
q, vas Lally i!,ostI by tie SUN Of OCoj AID
the Government aid double inteIbs5 that su:n fIr
s;.,h I":ud hc excess uniting 10 Lcary ..NU OO
IN other Crd-, the Syndicate T. allowed To roc ne
mt, r"-t r days "ri tN" sctS OF bonds by paying for
enc. II &C." '.c.' OH the new five rrr coa-, and also
e., o! - ,r.s. V.c! sl,i:ld accor'.nc 20 tlc IN
tent # l. Iw, Lave been cnn,r.~i t"c day
The i've &c: ":fs begin 20 Giaw intcrct Ana it
not u or l.rtwcai.cs IL holds it,: tat :!o
svI"r.:c IL, Mani .ou.c profit. h, ~ tic bonds
ia - til treasury i"r cCiNortioh by The banks
hr hdft'u!- n ils cG,.t;y. III! flosc * hanged il
Ia, - !. i,''..sc!cr. Kicir,.suI. Iu: aside
g.. .r' 81 he IL no. cIc ccd. AMI Tho interest
r.l.cd o,.r 10 IL" .yrc.' ~. Ihe Government acta
r. 4y .thr : ... lag: criani' .-"' ls.nt
"a 4 + DON" - = l;,ih aLi ly ,enwn acits. !lr.cJ
y!'li rr .Ir". ai.d VNh which t. "yI.ral, LA
I>'hiil: - De
III ~. ";..y how 'ht conclusion hc rscaI@d
that tn go. 10y Ia, IrIl lr-h temporary iEcrti>c
III L. ll' de-. ,c't:"n - tlt ctH-C., terms oi
the s'.;t.''. .tr orr! Io.it mac a+.ins. hr aPIc
tor. 81. ~ Sc, i.hr. H. L,.ara-i "t lie i.w l..
1T "i',tIhG "u' ."f III one per G. Mt OF IL;
Ini lrri. ar; .i' =! !. Ic.rlr ~ 'ali"cd to pa,
to c&!.i. # I!,r..' =. ..-.n, ad rt: Ing, and CO.
,,os ~ q l. sIL.r. a. scro'a.y !sihr Syndicate
VIM, ,utIf,u r. u..i., totr" three mon Us rt'I
ca: -" .,i, g. :rt.', r., ed. - 81 a." Ai pr cent
Ga t ..irc 40 arI:g T..,ior- after TIC
20, &C p...u1', ai,.I.i ~" %r, whI'h VII rr1rht
tr. o,. C'.i.! ~ &c J. cont. H. 'uih :h'E"i'
iA.. .rlIo ted b. CCucIc>, 30 LAY al 'Hr'ns"1
c.4l,,tcd VISA I',p,tng o. iii loan o., hAlf II
oue per c1.. 81 ;@".OUciJ. or id't iL'"teD The
S,,t t.sy - I!Gs y >uci. Jii ~ addition pays Tie
rn :. Il, IA i;is int"r' I on ~"Hi6i dtr";'liiS
10 '5JV ,"r tS tcr ices ~ IT. posing ~ ~" Roar II"
go! -4,. tst i':n a. &c n'"'rnt IS Which Tie -!h-
tc. ..c;s rIA,.u.t -. "tn. 10 Go,r' al
81, l j ~; '>,a,' al ".N.icnt ~" a.ion VI
,.rl. i,..