The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1871-08-29
The sIllK-sla,d Financier.


The MIX Maid FinanCier.
A great flourish has been made by
Mr.. Boutwell, during the last year over
the splendid results to be accomplished
by his new loan. 1t has heen kept con-
stantly in, the foreground as "the big
thing" of his administration. /. : !.
The people have been treated to.
lengthy and learned dissertations In the
newspapers. and swelling periods in. po-
litical harangues, showing how many
millions OF dollars in interest were to be
saved by this triumph of Radical fnan-
ciering There was, however, one little
apple of dscord in the general rejoicing
over this master-stroke of management;
and that was as to whom should tie as
cribed the glory to be derived from it
BOUTWELL, friends insisted that he
should reap the rich harvest of poph-
larity, as there could be no question that
he had sown the seed. GRANTS satel
ties strenuously maintained that the crop
belonged exclusively to him,as he owned
the fed in other words it was to be dis
posed of as was the glory of ending the
rebellion: GRANT happened to command
the army when the rebellion collapsed,
and to him was given the credit of col
lapsing it. On the same principle, if
GRANT was President when many mil
lions of interest were saved by bril-
liant stroke of financiering, he should
have all the fame it would bring More
over, GRANTS henchmen insisted upon
observing the rule which has all along
been adhered to in regard to, the meas
ures of the administration that is, if
they luckily turned out well, GRANT was
to receive the praise; if they turned out
badly, his subordinates. were to bear the
blame.
In the meantime there was constantly
kept before the eyes of the people such
arrays Of figures as these:
Sl,0OO,000,O00 six per cent bonds re-
funded at four per cent. Interest saved
annually s2O,O00,00O Bully for GRANT,
and bully for Boutwell,.
S300,000,000 six per cent bonds re-
funded at four and half per cent In
terest saved annually S4,500,000. Bully
for GRANT. and bully for BoUTwEBt.
S2OO,000,000 six per cent bonds refun-
ded atfve per cent. Interest saved an
annually 100000. Bully for GRANT,
bully for boutwell,.
There! Twenty-six millions FIVE hun
dred thousand per annum saved by the
Radical leaders!
As the late lamented would say, this
reminds US Of a little story:
Once upon time milk maid was
tripping along with pail of milk upon
her head, and she thus soliloquized: 81
shall take the butter from this milk, and
buy eggs; from these eggs / shall raise
score of chickens; these chickens l
shall sell, and with the proceeds buy a
new gown; and, when l 60 to the next
Fair, who will be more gaily dressed than
II" Just at this point in her delightful
reyerie her toe caught, she fell, and the
milk came pouring down over her shoul-
ders.
A similar awkward fate has befallen
the glory and popularity to be derived
from saving twenty six millions five hun
dred thousand dollars, annually, in in
terest.
1t has not been saved.
JAY Cooks has been advertising the
new loan everywhere; hired pens have
been writing it up; boutwell, has had a
swarm of we'll paid peddlers hawking
about the money markets of Europe,
but it won't sell All the four per cent
and four and a half per cent bonds have
been Withdrawn from the market, and
Mr.. boutwell, finds himself sneaking,
crestfallen, out of the enterprise into
which he struttcd SO loftily.
The question of who should be i'm
mortalizcd by hestowing on him the
glory of this splendid achievement has
settled itself.
To save his disastrous failure from
being utterly disgraccful, boutwell, has
made some arrangements the details of
which are carefully concealed, by which
he expects to dispose of the five per
cent bonds; but it is strongly suspected
that the expense attending it will largely
overbalancc the saving made in interest.
Thus vanishes the great financial tri-
umph of GRANTS administration.
Policy Of the Party I'm Power.
Senator MORTON, who is the mouth
piece Of the GRANT Administration, in