Rock Island Argus. (Rock Island, Ill.) 1871-1872, 1872-02-09
Tammany Distanced.

becoming 30 numerous and so shocklhgi
that il is 10 be feared that the Tsmmaoy
ring will receive a kind Of White washing
By The iusigni6eAuoe Of iss Plander rs com
pared with that which has been secured by
its rivals ia the Radical camp. tirst 10
m Magnitude and importance Is the PLAN OF
the Rress syndicate, sometimes called swim
dlecats; in magnitude, because If coln-
waited to its contO mplated size, IL will put no
less a sun than thirsy millions Of dollars
into the pockets Of the stock spectators
Who form that noted ring in importance.
because not only was il negotiated BY the
Radical secretary Of the treasury, with the
approval OF the president, but 1t is also sus-
taiaed and even Landed By the Radical party
in the congress Of the United States. IL
was a simple game, easily Understood, aud
has been thoroughly ventilated In IN able
speech By Nc. Kesr in the U. ). house Of
representative. The secretary Of the
treasury was authorized TO inear, in nexou- |
s,ing the new FIVE per cent. bonds, sx-
penses not exceeding one-hGlf OF one per |
cent on the principal Of them. la add
iion he paid Iae syndicate three moutbs' in. |
teresi on the bonds, aud allowed il, for GER
isin periods, the free use Of the money
which IL received for sellilg them 10 this
way it had the use Of 800 900, 900 for three
months aud twelve days Of $40 600, 900
for over SIX months, and OF SIS, 900, 900
for nearly seven months. The pro-
ceods OF these $i35, 100000 Of new five
por cent. bonds we're designed to pay off a
like amosnt OF old six per cent. bonds, and
one result Of the arrangement was, that
while those proceeds we're being figured by
the syndicate, the secretary Of the treAJuSy
was paying interest upon a like amount OF
the old national Indebtedness, and this, al
though he had 10 the treasury $75,0O0,000
in gold, which be lefl idle in his vaults in
stead OF using il to pay OF that much Of
the ak per cents. Mr.. Kerr showed that
the profits Of the syndicate for selling the
-l35, 600 900 Of bonds amounted to q, AGO.
600, and II the arrangement with them was
continued, their profits would be over 500
100000 The best Of this GsAt little e.
nanciAl Joke is that il does not appear that
the syndicate ever used even = single cent
Of its own money, but merely acted ~
agent 20 sell to other people. A noteworthy
Incident 10 the debats on the subject 10 the
United States house OF representatives is
shat Mr.. Roberts, . radical member from
New York, defended the allowance to the
syndicate Of the free use Of the proceeds oil
the new loan, on the ground that the money
would have been idle Il paid into the treas
ury-the very excuse given by several re-
cent radical defAulters for taking public
money placed ia their hands and using II
for stock speculations. The aversion oil
radical officials for letting public money lie
idle while they can make something foi
themselves by keeping il in circulation, il
evidently chronic With them.
Mr.. Roberts would seem, however, TO be
tt representative OF Radicalism in the
state Of New York, II We may Judge by tn,
misg.viags the better portion OF th,
Radical press is beginning to ieel in regard
to the honesty Of the overwhelmingly Rad
oAl Legislature Of shat STATE. The lAtssI jol
set on foot IN that immaculate body is
scheme TO deprive the foreign stockhoder'
OF the Erie rail var Of Ihsir hitherto uHques
toned right 70 vote 10 the election OF IL
directors. Should the scheme succeed, III,
present directory, alias the Fisk Gould ring
will continue In power indefinitely, il !,
believed, however, that even the Surviving
associates Of the late Col. Fisk are not 81
barstAcsd ~ to expect it 10 succeed, bui
that they are merely aiming to procure non
action by the New York legislature On tbs
subject OF the Erie road, as this will secur,
them their places for two years longer Oi
the bass that they can we'll afford 10 pAy
rouni million Of dollars Tor this boon, %,
New York Tribune proceeds to estimate th
fair market value OF a New \ ork legislator
vote, aud calculates that a. The average rat
Of $50, 600 ios a senator, End $40 900 for al
sssemblymsn, the Erie ling can buy a
even more OF them than would be reQuIsit
to secure good working majority IN 10
favor.
But the case Of Mr.. LsgGte, Just A2poin
ted governor of Washington territory, !
possibly the worst Of ell TOE recent ibdIca
tions OF the extent TO which political cor
ruption has spre ID 10 every direction ant
even TO the highest IN rank, ia the RsdlcS
party. The Developments at Washington
indicate that the appointment was arrange
by the president himself daring his VISIT L
Kansas last summer, when be spent y da
with the new senator, Mr.. Caldwsll, and Mr
LsgAte, his particular friend The latter il
charged with having conducted the negosiA
tons through when Mr. Caldwell secure,
his senatorial seat from the Radicals Of ID
Kansas Legislature; aud be seems 10 hsv
done A. the same ume little quiet sradin.
on his own account, for his appointment I
the territorial govsrnorship was supported D
petition sigued by all the state officers O
Kansas, hsr Radical state senators, and b
many OF the Radical msmbers Of her stat
house OF representatives.. The other Cuilr
States senator from Kansas, Mr. Pomeroy
was reported 10 have also recommended Nj
LsgSle, and the pisty wing OF the pres
dental "shebang" was dou bless preparin
TO point With devouI ejaculation 1
this unrivsllsd instance OF Christia
forgiveness; Is il rot written J.
Gu official document published o
the Z. 5. house OF repreaen taiives, that NJ
LsgAte sWors to the geuuiueness Of les.e
Of Mr.. Pomeroy offering to sell his senate
rial vote on the impeachment Of Presiden
Johnson, aud that Mr. Ponsroy sEore tha
the letter was a forgery But the repor
turns out TO be inaccurate, Mr.. Pomero
has not risen to the grandeur Of forgivinj
Mr. LegAts for the forgery and perur
charged on him, but has nevertheless show
n dslcAcy and refinement. OF feeling which
must touch the heart Of every gentleman il
the land he told tho president that b,
would not allow his personal feelings 4
cause him 20 oppose the nomination. Tn,
way being thus cleared. Mr. Lsgate was cor
frnsd BY the Radical majority Of thl
United States senate all concerned, presi
dent, Kansas state officials, and .. S. sens
tors knoWing, or being bound to know, ib,
record officially made for the new cover.
nor OF Warrington territory no longer AZ,
than 1867 Mr. Sumner is reported a. in
tending to move reconsideration Of tn,
confirmation; bat his duties as egAte Of III,
negroes 10 the Z. s. senate will doubtless
30 engroos bis attention tbA, he will hsv,
no time left to prevent the infection Of Mr.
LsgS,s on the mere whi,ss Of q territory OF
the diAtgnt PAciic coast
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