, 1872-10-12

J boisterons Tays. 4 few say he il a useft
friend, and that no person who Lss purchased {
sold according to his directions has ever lot
anything. 1t is the darling hope OF all Wa
street gamesters to get gold on the run. as dl1
| ing the palmy days Of tie war: and i1nmediatel
! following it. The bears in the street say t!a
I gold will yet stand 50 per cent premium
! 1t is now between Il and Is premium; but
| movement Of Is per cent can make O
mar hundreds OF fortunes. and the administra
tion is now manifeaing it's antipathy to A. 7
= day for gold for customs duties- The cottol
crop, which is our chief article Of export, is nov
| coming to market, and this accounts for the re
duced price Of gold: but the ';bears" " in tll
| street 4ilege that, although AZ. Boutwell, ha
/ nomil1al]y SIS, ,0oO, GOO in the Treasury, he ha
really
ONLY FIFTEEN MILLIONS
there which belong to the Government. Twenty
i've millions Of what he possesses are merel,
deposits, and certificates for the came cizculat.
on the street, and may be presented at any time
Thirty-hve millions, in addition, represent
merely the accrued interest nearly due. but NO
at the moment payable. Here, then. are $780,
600, 900 apparently the Government's, but reall.
the property Of the people, The banks Of New
York hold two-thirds as much gold 81 aIr. Bout.
well with all his Dragging.
RESUMPTION Or PANIC.
People who, during this campaign. have been
showing fear Of Ho1ace Greeley, becsuso be
wants specie-payments resumed at the earliest
date. may yet find it to their disadvantage tia!
/ we are allowed to go on in this condition. owing
Europe 81, 300: :o0o, 600, which she has invested
in our State. corporate. and National bonds. and
demanding $50, ,UM, 900 year to pay this interest.
while. at the same time. our imports exceed our
exports enormously The precious metals ve
produce hare their effect to prolong our credit,
and re have sent about S57 ,000, 600 Of gold
ahroad.this year- But, if things should 20 Just
A 4 nh1
during the next four yea-s,-with 4 Secretary
who does not want speGe-resumption. but pre-
fers to use his Treasury belsnce to fight ncn-
k1nd,-what possibilities may como to us2 AL
Europe Is gambling l'erpetnaliy in American Sc
curities. Erie, the most ductuatins stock we
possess Is tie subject Of gaming every dsy in the
stock markets Of Berlin, Vieuna. Frankfort, AM
sterdam, Paris, and London. Yet, some time
ago, when there was an unusual demand for
tins stock, It was found Tint but Il. 600 shares
adoat Of Erie 700, 600 shares The low rates of
interest prevailing over Earope, and the active
demand for money in this country, have had the
effect OF making Europesns- particularly since
the close Of the war OF the RebeIion-rnsh in
pulsIve1y for al sorts OF American securities.
Corporate bonds Of al kinds are iu circulation
on the other side OF the ocean. many OF them
fraudnlently assuming to be introduced by our
Government.
WHAT McEr HAppES
Il several Of these small securities were to fail
to pay interest, and cause Precipitate return OF
tbs gTeat bulk OF our stock, and bonds to Ameri-
ca; to be sold in the market, or payment COM
PEELED? There are many things in
We have past experience to show
that it took but the downfall OF q distant insti-
tuition, like the Ohio Life and Trust Company,
to make pauic which WAS : critical point in the
history Of the Christian race.
All our destinies at the present time are in the
hands OF
TEE 3EANEsT AID LITTLEST
OF mankind The Secretary OF the Treasury is
relied upon as il he were Colossus. whereas.
as M A T. Stewart relates, he kas no financial
policy at all, and NO rules Of circumstantia1
conduct, which might sometimes compensate
for policy He has struck an unusually good
period IN our material and financial history,
and has met with luck up to tlia time; hut it
may be doubted whether there is really one able
man in the Federal Administration. We are
just hear1ng from Japan what character of
people we sent abroad there, selections. as
they were, from our Civil Service The
within y very faw months and We shall have lost
our influence in that distant Occident almost "a
soon as TIE got in there
The Administration banker just hcra in New
York is Il
HENRY cLEwy.
> man generally presumed. amongst bankers. to
occupy.a fourth or fifth rate position by circum-
stance, and a sixth or tenth rate position by
nature. A few dsys ago gentleman got i
ment would buy 81 ,0oo. 600 Of bonds on certain
Day He placed no faith upon this cue, because
be supposed that it was an attempt to inveiGle
nm into speculation. The ,dsy arrived and
the Government bought just tEa1 amount. The
hen figured up what Mr. Clovis profit was upon
obtaining this knowledge in advance. He found
hat it very nearly paid all Mr. Clews' political
during the Presidential campaign.
TO BE TIE GovERNHEST6 RASKEE,
n onr times, implies no real reliability, since
Mr. Fish and Mr. Boutwell, struck down tie old
1ouse Of Barring. which had attended to our af-
airs for ninety years, to give The business to q
,erson Who apparently made his appearance;
Ike Harlequin. from a box Of Paper-collazs, |
namely: air. Clewa. As geat1e.nsn in New
FORK defines Clews, he is . financial adyenturer |
nd political upstart-
IT Is SINGULAR FACT
hat, amongst moneyed men, importers, &c, Of |
10. ! here, through whom to purchase foreign |
1change, are Canadian: the Bank of Montreal |
nd the British North American Bank. The lat I
er has its chief place Of business in New York
.itv, although it's title implies nearer relation
o the Dominion Of Canada
To show how thoroughly the tyranny Of the
administration has extended to all private busi-
ess, may say that one OF the leading import
rs OF New York remarked, q few weeks ago:
s:I shall support Mr- Greeley.-at 1east1 shall
ote for him and think his election will BEN
ct all interests. But, if were to be an Elector
Large, or to work actively for him, this Ad-
Illustration would make the thing cost me-
500. 600, in extortions. delay, and unanticipated
and changes of various kinds Thich |
hey would stimulate"
This is the sort OF Administration which pro-
oses to keep at the head Of Affairs How shall
e fare when the same superstition may strike
urope, that perhaps the nation Of men On which |
SO Confidently relied has come down, during
enera1 Grants Administration, to be directed
! set OF pigmies, whose policy, finance, and
:holarship. Ike General Grants military SCI
nee, consist in fighting things out byss the
,rre of
in no other way"2
AtHition is the lowest grade of science. and is
eIe1y animal friction. We are ROW conducting