The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-08

Commerce3 AuQroW J. LORD, Second National Bank;
Scissor ssS0 ssais Nsons BANKS T.
WSsnlaSIoS sasena sa aSi George Ssan safnsrd
i 'sra Il coo ,dge Columbian sanx; =: = >, n r.
1.y Ss 4Sasss:' fssssas
Pickering 4 Co.; Kendall, Barrows & o.;
Ballon Miifin Stone; Richardson n Parker; Gar
Blake 4 slearns. Dresser, stevens / Co.; Burr
81 others Co.; Gaampney Brothers Co.; D. Z.
Gri wod CO.; James s. Il: Wheeler Co.; Luke .:
4 Co IN. nj. Johnson B. a. Boardman & co.; Joseph
+. Frye bro: n. w. kice 4 Co.. ana several hun
dred other solid men OF Boston.
THE THOUSANDS OF SOLID BUSINESS MEN
WHO sent these petitions 70 Congress nad very little
they were earnest IN their demand Tor a law that, II
II uld not secure steadiness and regularity In our
monetary affairs would certainly prevent forever
the treasury Ring from using government money or
bonds on government account TO "bull' ana ''bear"
The petitioners were in earnest in their demand
thai Congress should, without delay. take the con.
OF a ring OF SPECTATORS They demanded that the
Treasury ring should no longer have power to
prey upon the people under the Pretsnce Of funding
no secretary OF the Treasury, however honest,
should nave power under the law To make secret
ana uepress The business interests O the country At
pleasure. They thought that an inside ring OF
favor with Inc Secretary OF the Treasury Should not
have the power to CONTRACT ana expand the cur
rency without the knowledge OF the people, as the
Treasury Ring had been doing for the i've years
previous.
PETITIONS LIKE THESE
were never before received by Congress. That body
OF LEGISLATORS were fairly driven to recognition OF
the aci that very great wrong existed and That
something must be done to right 1t.
HON. GEORGE 8. BOUTWELL,,
tnen Q member OF Congress from Massachusetts,
Treasury. was among those who most strongly de.
nouhced IT, Indeed, whenever the subject might
ali or e ne was ss 70 one
MAS MAS TN tna ne created the p%c capital nn' fays
upon ne was no. SLOW earn sner
special appropat ! He put himself forward as
try to ngnt the Treasury Ring.
THE BOUTWELL, BILL.
BY reference TO the records OF the Fortleth Con-
greS5 IL Will te seen That on the LIST day oil January,
1862 within week alter the reception OF the above
mentioned petitions, Hon. George s. Boutwe intro.
referred to the Committee on Banking and Cur
rency, or which he was also MEMBER
BILL RELATING TO THE GALE OF UNITED STATES
By the senae and House Of REPRESENTATIVES
That from and after The iii. acf no psrcenas
deduction. ssion or compensation OF any
Of
ment or elsewhere account OF the Unied and ali
acts and parts OF acts authorizing Or permitting by consrnc
han r. hi,
SIS And be further enacted. That after tho passage
Of the unto1 states shall Be- made Sy inviting the
s "a
deem i 70 public Interest o. . ''D' 'Do''' 10
passage this act all Of so United
States shall maae a. puels auction By oneer %
hs lime saa ssss%is e. By
same.
This was near the close Of the third session OF the
Fortieth Congress. The Oil, or one containing lis
essential provisions readly passed The House That
session but being defeated BY the Treasury Ring in
the Senae Finance Committee, II OF course expired
with JhaI congress.
MR.. BOUTWELL, CHANGES HIS MIND.
At the commencement Of the Forty.1rst Congress,
the treasury Ring having forced the resignation or
Secretary Stewart after he was appointed by the
President and unanimously c0nirmed by the SEN
ate, Mr.. Boutwell, was made Secretary Of the Treas
sury, and MS bill being reintroduced at once en-.
countered his oppOsiton-an opposition vastly In.
creased IN power by his promotion to tho Secretary
ship.
after he became Secretary OF Tue Treasury 1t most
surely would have been made o law. Its friends
Claimed that the law was necessary whoever might
II we had dishonest or tricky man 1t was re-
Qulred TO Keep him IN check ana protect the people
tary Was easrey inoorrupsipis and capable the law
was. nevertheless. needed ns an assurances that
country for tee benefit OF rings were Impossible
under any circumstances, without sucn violations
OF law as would insure the Immediate impeachment
Of the oiendng officials.
the BOUTWELL, BILL AND SYNDICATE.
Many OF secretary Boutwell, 8 warmest friends are
now forced To admit that he needlessly squandered
some Tour millions or more dollars OF the peoples
money In the syndicate job OF last summer. Inc
Financial chronicle states that
TIE negotiated rather for the benefit OF the
Syndicate than the relief Of tho Treasury and IN regard
~ the OF the debt the and the OF
this country be In no better position than the Jun ing
operation had been omitted by Mr. Boutwell, and
two years hence 1873 But there many other
for the unpopuarty OF this One OF the most I'm
portant the conviction which has taken root In the
public mind that the whole negotiation was Illegal and In d.
rect violation Of the letter spirit Of the act OF Congress-
to exceed SsOoo9 e o PM the entire expense q
just negotiated. This was liberal remuneration But
Mr. Boutwell, admits than three times that expense.
has paid higher for commissions than we
ever tolerated. in the darkest days OF civil
year by OF interest should pay the cost 0f
eion and residue belonged the cope Mr. Boutwell,
savings and without law authority,
appears, has handed them to the Syndicate
The provided that the burdens OF the taxpayers shou
not by Mr. Bouwels funding operation. But
heavier by than II no had lot ths
funding experiment entirely alone
Was It ior such Jobs are here described that Mr..
Boutwell, changed front soon "a he got the Secre-
taryshipg iJid he for reasons oppose the oil
he once favored Does tie Syn iicatc 100 explain
Mr.. BoutwcIl'5 change OF base We shall sea.
The CRY Is "STlLL THEY GOMEZ
r.