The New York herald., 1871-12-01


rena nlny loans o four ana half per cent aud ionr
per cent, already authorized py Congress can soon,
uoess untowarf csrc instances agaia intervene be
dispo eu oI IN Europe at par iouil tndt the 'nost
serious objection that euroreans ma c 10 our stocks
was tnat the holder Of III m could not calculate eX-
actiy wnat 0ividend lie woui,i receive when the
Interest fell due. The rate Of exchange o. Lurope
Win tins country 1uctuacs so much rom ilne
10 time ihar the amount the heller OF cur
bends VIII receive ior the per,oiical mter-
est due thereon VII be so ethes more
an,i sometimes le Than he expected an. ,ss railr ~,
The amount spccined IN The Don't. Ihis ciea'es ~
fecling, ard ieaousN on ne part % .he m"auu. w., M
ol our stock That nls nAcr uocs not ueai ia,I & ~
hm: ana the banker VINO. ne haps, bouslt anu soia
IL s yer, stucr pe ONES sgustel wita the eXpa.
nation he Is rJnstauiis ca led npon 10 make ~ re-
mar ne nays or ,rr,ps 10 Thc cral. or M G. - IN
ers. | amer than e tnns annoged nc makes up ns
mind IN Iuturc 10 Eave nothfn2 more .o 10 WIN ou'
STOCKS. - ].
VINO OF our people can borrow money at homo OF
our panSs on ms paper, having the Interest and
Irlnc,pa payable al his own dlsans homer Woall
q N,w York CAPITALIST loan money 10 the Mexican
IepuD ic, were It's credit ever SO good, al lac same
rate interest II the interest ANA principal we've
made PAYABLE In the CITY of Mexiln. tnat
he would were both ,nese, payments 10
Tho adherence in the amount OF inter-
est to be paid on our bonds held III
Europe would lie comparatively small whether pald
al nome or ABROAD. Inc SAVING IN ihe rate o III.
terest to be paId on moneys borrowed abroad would
lie great. The anr:oyance 10 the iorclgn bonan0ler
would cease. our stock would become the avOrte
one IN Inc European none markets., ami then
tnetc would be little or no danger thai 1t would tie
cofun,erCia revu Sons. This last consideration onr
merchants and business men WHO have lnnsceauy
suffered by such ietufn Of our stocks from Europe,
W II. understand ana appreciate.
Many o our people object to making the interest
on our loans payaoie IN iorei:n country ahcslna
Were II NOT true that II there Is any loss Ol dignity
IN money transactions, II occurs at the BORROWING
ol The money, and not Win the paymelt OF The IN
tcrcst thereon, II might he worth The wue for cur
legislators 10 go into the calculation OF the CONNER
cial value OF national dignity. In the present
nanciai condition 0 our country It can Ill aord ID
nay an extra percentage 10 save ltSe iionl an lm.
aginary loss OF national dignity. Wnne upon this
sGpeci, IL ust ;nat those ol people
WHO are 80 very sensitive on this subject, and
VINO are so anXiOls 10 sustain the d,Rn.ty OF the
nation abroad, cuuld ind much Surer wlv TO carry
out l.cir views and accomplish their end II tiey
would INSIST tnat the representatives OF the nation
In o.egn countries, VINO are commissioned to lc0i
after lis interest and sustain Its nonOr. should DC
paid compensation on which tncy could suasist
Their families and llve decenily ii not respectfully.
Most oil our Ambassadors IN Europe are Obliged 10
dTa~ largely uon thalr piIvate resources IN order
10 sus,ala our nitionL dlsnity abroad. WIN the
Out haouati'n, "prowslng around," having
tnen ohces III garrets with $ airs leading u
them SO steep that II was diilcut TO ascend
them. ON cXpostuatng with one OF tLese
officers In The capliai ol highly CONNIE tcia conn-
Try, lie informed he thit lie was not abe 10 do 9th
erwise in Orier tnaG ne might neep out OF d.0t ne
WAS oLli ed 10 leave MS anlly in Am ,fcl anu him.
sell 1--we IN the most economical way; tnat he was
determined 10 AVOID the lauts oil ms unfortunate
predecessors, Tor whose unpaid debts he Was yet
beng cohstanuy dunned. What vas worse. the
creitors believed tiat ine debts were the debts OF
the nation and hot OF the Individual consus. i DO
not know now TINS sriScs others, but must con-
Ana yet am sure l snould not enefian such q
feenis II the interest o our DEBT owned III Europe
nrelng these views, for l 1eel convic,ioa that II
tney are carried out there viii iOr some time to
come pe saved millions OF dollars annually.
LIBEL HEFLTED.
On my return from Europe was shown, III New
YORK newspaper, an lniainous libel upon the Irea-
suiy Department generally, and upon me IN partcu-
lar. III was hea-ed, III double loaded lines ana
large capital letters, "ieak IN the sury-aiil.
lons oi Dollars ACKNOWLEDGEMENTS Brought
TO L'rh,-Llst OF Warrants Drawn and
not Accounted For--Wnoesale Destruction OF
lcager5- prodIsious Disclosures or Frauu.u 10
tnen goes ON 10 state tnat ut s now positively
kncwu that every department o. the government Is
rceking with corruption, ana that millions OF The
puriic money have been abstracted from the
Treasury" "ln order 10 take ut this money 1t
WAS catered as against The treasurer, under The
u has never been accounted lor.n Ii Alleges tnat
.cerialn officers In the bureaus oil the First
Comptroller and First Audnor were long prvy to
these transactions, but sucn vas Spinners influence
Win Congrcss anu such MS power with the party
tnat tnry feared to expose the acts Tne officers VI
tue Treasury have made every etort to prevent this
Information from reaching the pu3llc, and upon
being questioned upoa the subject stoutIy deny the
truth Oh II. But the number, date and amount OF
every warrant drawn for the money are known, ana
flis boId front oi partisan ana oihce-hodng brass
VIII nor avar. Inc tacts are but too pain and
lrreuaoe aud It is only to be feared that tney are
only The beginning OF numerous ANA greater pecu-
lations, particularly In the Navy ana War Depart
mems ol the government, and that large portion
OF the whole $40 900, 0J0 expended annually by the
government VIII turn out to have been expended
for the Deneht OF the gigantic ring OF radical
swindlers which centres in Washington city," And
then asks, "What was done with the s., 000, OJO
which were drawn from The Treasury, No record
OF tbs vast amount appears on the books" Taen,
alter preaching homily 10 the Secretary OF the
Treasury Tor not reporting the facts, and quoting
from laws that MAKE II his duty ITO lay before Con-
giess an accurate statement and account OF the
ceIpts and expenditures OF all the puOllc moneys"
II proceeds with startling array OF damning
hgorcs being a list OF warrants lor money drawn
by Francis u. Spinner and not accounted fOr.n
iiere ioows il list Of sixty-onc warrants, tty-siX
that the name OF the pavee ls forged IN every IN.
stance. The list Is IN the following form; The items
are taken promiscuously:-