The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-24

childs or Earrings: or Hope, and not simply
brokers anxious to found great banking
business, we could understand how the
to its utmost tension to have COM
pleted the negotiations. But he never
really completed them. He was dealing with
men who could only succeed by the ear
nestness Of private investors and our own
national banks. He was never for moment
SAFE The least disturbance In Europe,
trouble with Spain or any one Of twenty
of the causes which unsettle the finances of
nations, would have thrown his bonds back
to him and he would have been on his knees
before Congress to forgive him his commits
sions This, to our mind, is far
graver view than even the increase
Of the debt, or the deposit Of $3.50, 900, 600
of the public money in national banks
without security And now that bis good for
tune has saved him from this danger, we must
protest against any future negotiations which
may make danger inevitable. Mr.. Boutwell,
cannot make these experiments with the credit
of the United States. President Grant cannot
afford to have his administration wrecked Gas
wrecked 1t would surely beg by making abso-
lutte bargains and paying great sums Of money
In advance to shrewd brokers, and giving ex-
elusive privileges to Syndicate who would
not and could not hold the loan twenty-four
hours in the event of financial panic. II he
has these advantages to bestow, let him throw
them open to the world. We have thousand
bankers, or rather brokers, who can take his
bonds and sell them and pocket the commits
sions provided In the even. 81 failure they
could throw them back to the Treasury.
And, what Is more, the right to these advan-
tages belongs to every banker and broker as
much as to Mr.. Cooke and the masters Of the
enterprisiog Syndicate.
The ''sucoess" which these brokers met In
dispOsng of their bonds enabled the Com.
mittee Of Ways and Means, and perhaps in a
sense justified it In endorsing the Secretary's
action. So long as the Syndicate did its
work, even at an extravagant cost to the
Treasury, 1t was prudent to accept the
success" and not be too severe with
Secretary who bad taken such desperate
chances. But we must admonish Mr.. Bout
well, and, above all, the President, who is
about to 60 to the country for its
endorsement, that they cannot take
these extraordinary hazards. There
is way to fund the national debt
Without running the risk of national
disasters without breaking the law; without
committing the public funds to the uncertain
care Of irresponsible banks; without increas-
ing the debt and the interest on the debt
without submitting the Treasury to the mercy
Of well-meaning and respectable brokers who
do we'll enough when the money market Is
easy, but who have not the inherent strength
to keep extraordinary engagements. We are
well out Of one danger; let the Secretary be
Wise and incur no similar responsibility We
want craftsmanship, not expedients.
General Rosecrans ON Mexican Affairs.
General Rosecrans has thought 1t expe-
dent and proper to define his position on
Mexican affairs He is opposed to any flli-
clustering attempts to annex Mexico he
regrets the announcement of imaginary filibus-
tering schemes, because they interrupt our
business relations with the Mexican people;
he deprecates the attempt to thrust our gov
eminent upon our neighbors regardless of
their feelings, and says :-'T think the intelli-
gence aud conscience of our people decidedly
in favor of just and liberal policy Of friend
ship towards Mexico as best for both coun-
tries" In short, General Rosecrans Is in
favor of the indefinite continuance, under the
protection of the United States, of that
mockery Of republic known as Mexico.
We submit that we have done all that could
in reason be asked to maintain the rights of
Mexico before the world to self government as
an Independent State for half century or 80,
and that the experiment is not only
shocking failure, but scandal
to republican institutions. We submit
that half q century of never ending and still
beginning revolutions, and of nxhting factions
aud elections by the bayonet, and highway
robbers and border rudisns and general
anarchy, Is long term for the federation Of
these public nuisances, and that they ought to
be abated. We submit that the vast resources
Of wealth and trade possessed by that splendid
country have been running to waste long
enough, aud that Its industrial and producing
classes haYs long sss6ousk been the prey Of
revolutionary mountebauks and regular bandits,
with their forced contributions. We submit
that humanity, civilization and Christianity
demand the active Intervention of the United
States and the annexation Of Mexico; and that,
as this thing is manifest destiny" nothing is
gained by these delays in action Of any
advantage to us or to the Mexicaus or to the
-
YQrld at large In short, the reign Of utthrosts
and robbers 10 Mexico has has been q tolerated
by "Uncle Sam" long enough, and, without
mincing matters, those robbers and cutthroats