The New York herald., 1871-12-26

@ WASHINGTON, Dec. 20, loJls
81 Those whose business often takes them through
Fifteenth street, near the Treasury Department.
drinking saloons, fan 70 notice sundry groups
OF elegant loungers dressed In the precise and gor-
geously fashionable costume Of gamblers, but who
evidently donot belong to thss rraternity Though
without any visible meaAs OF support they always
appear TO have plentS Of money and It was for
some time wonder how they lived. The mystery
is at length dispelled. They are
q! Nils TREASURY RING OLAQUuHe. sla 8gg iss
Their voices arc constantly heard, during bust.
ness hours, In the banks, real estate and
brokers' onices, in the fashionable drinking
saloons along Fifteenth streer, aud IN the
lObbies or tho hotels and Congress-, extolling
thepasrlotisn and wonderful financial ability of
our present, Secretary OF the Treasury. They con-
coct and furnish sundry impecunlous correspond.
entS with q large portion OF the s'nnanclsl news
items' that are daily telegrapned from here to
many Of the shird ana fourth 'clsss newspapers In
all parts OF the county. They sngage strangers
from the unpayed districts and Copgyessmen, when
ever possible In conversation at every opportunity,
and endeav0f to create the impression everywhere
that thsrs - but one man on the face OF tae sartn
whS can runthe Treasury DEPARTMENT and that his
name " George s. Boutwell,. oGrap k.otof ,tt,i
In short these claquers are to the Treasury Ring
mere m Washington precisely what the Americas
Club diamond badge men were tosne Tammany or
ganizstton IN New York; ,bIcI mo 10 {iyiiAJ
u AR. BOUTwELL'S oDEFRNCE.a .,srs a. &,
Just now the Treasury caquers are telling every
body tnat Secretary Boutwell, Is preparing defence
Of MS course In the syndicate Job winch will show
concusiyely that he has NOT In any ease viOlated
the laws OF Congress, as stated and proven IN the
HERALD OF Tuesday, the 10Th instant oc..,t
so This wonderful derence, stripped Of the caquers
subterfugei is piece Or fspeciai pleading tnat
might find favor with O. 4amInsqy judge, but Will
not for one instant stand the scrutiny ef the indig-
nant taxpayers, npon whom tle Treasury Ring has
been pfeying SO many years. II is new departure,
weves, from the one pGt forth by M Boutw ell
soops finance. Il viii Joidly assert that
aS
bonds, and tnat under tue act authorizing the De-
posit OF government money In national BANKS The
one and one. quarter per cent was eddedi rue no.
Gus pocus Of taking national bank Sertidcates I 2!
q s3Gfsi s 's ss haS Sass'ss Az
TX snsr aqeo ~ r n na, AIN raj % S
has boon driven BY the HksALDto an entirely new
line q defence sizsS59Y tS SIiei brow oda
plan has been alandonedi vntit within a day or
Gsn s ,aBRsa ~ sAS & ssSs
Bourwsl had actually vl0lated 4Ae aws ot Congre
but that he was Compelled 40 to do .by great
nnanciaf necessity. was urged that In 0fder 70
0s as g 81 iss
gFeSs fandy tina people weuid EeHdiiy overlook i'm
V4et or the great benehts realized.
uncntQn i0r The Secretary's every aos s sought 70
~ fp.d mere and there scattered through the nnc
ldhH Volumes o. ,hs U1itsd stales Sta.ptas al large
s1ol THE NEW pEFENcE INEFFROTUAL.
IN TneIN are twU dstlncs pfUyslons inlaws of Con-
render Mr.. BoutwerS new Vine Of defence utterly
ine1ectual and wortNess Tue, arst expressly pro-
y1ues that the cost OF cOnycrtlng $Ao, 900 900 OF
bonds shall not fexcBed oIbshalf OF one per cent
on 900 900 altogctler. Te second provides tnat
'a0thin0 St0ny tdD SHAH oo construed TO authorize
uHtlDn.
New IL nas been madepht az day that both these
provisions nave been violated by the Secretary OF
tho Treasury and ~ tis 1hSx o. plain that his new
line OF defence 10 wholly neneclual and worthless
III cannot save him from iml,eachmenE C0nsidera-
uons u party expe diency may save hiIa--the new