The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-01-06
Boutwell, and his Syndicate.

Seyen miliOns and half Of dollars,
or eso-hslf cf one per cent. is the com.
mission authorized to be paid to the
government agents for negotiating the
new loan. But this sum has been con.
sidered TOO snail, and an increased com i.
mission is to be asked for! The sub,
lect is discussed adversely, in the money
article OF the Philadelphia Ledger It
says
Another point on which we dissent from the
snggeston IN the report Of the Secretary Of
the Treasury, is that Ia which he favors an in.
crease Of commissions for the negotiation of
the new funding loan in Europe. Judge Rich
arasoA the Government Treasury agent abroad
informs the Secretary, who comedies with the
iact stated, teat the most serious oh tacls in
the way o. negotiating the aud q y per cent
bonds ~ EUROPE Is the inadequacy Of the CON.
missions allowed. He says one or two leading
european bankers had declined to act as agents.
and others who accepted tho agency failed to
Eivs that attention to the business which wonld
have been bestowed upon il had the commis-
sions eerresponded more nearly to those usual.
received oy them for the negotiation OF pub.
nucl III IL
taadying to foreign bankers In the anxiety If
Government officials to have thea lend The
nauon money. Those who hold our loans Al
nome or abroad are content, and as The nation
is not borrower, with the view of ineress;ng
~ eeot, the Secretary Of tho Treasury NAV
Wen aaord TO save US the humiliation ofhavin9
our official solicitations In Europe met Wiz
avsrtcd faces, unless larger commissions are
onefed. The iitlle Saving proposed 10 Be- gain
ed by reduced rate OF interest n, = y :, -
what we owe Is not worth tho national a,scred
7 mat follows partially successful at,en,n,
20 LOTION. The better way to sell our bonds
rW .ate OF interest Is TO look at home
NY. IL they are made az good a. thos, a.
otnes nations, or better. and paw higher
rate OF interest, capitalists all over the world
WI not be slow In finding out the fact Wilhont
Tue ana OF Intervention OF agents. The mora
senl,ng outoi canvassers TO solicit authorizations
s"pes wan. OF credit At home, and rather
uetels ihan advances the thing sought The
rapid reduction Of the national deht ar M
Annus, cost OF carrying il, seems 10 be the ono
anu purpose Of the Secretary Of the Treasury
anu, "iihin Discreet and reasonable Hmits I,
y meet eomInendable ambition. Bnt thar
POSSIBILITY, BY too much taxation. of weak /
s.;stE ~ uAuonsi resources, and thereby i'm
Pa.s,nng zoe national credit, There Is also a
Pnss,otlty OF making. through excessive com.
mlss'ons, the cost Of changing the bonds Of n
nigner Tor those Of lower rate of interc., ,,iI
~ s1tendant cost OF semi-annualy having The |
interest abroad, greater than the amoautsa
, - More may be gained ia credit by
ssvar;,,y ~ sur national expenditures, thus
nelenee % natioaal faith and integrity of ppr.
Pose, ,naa can possibly come THROUGH naddlioy |
ske"n,es abroad At high or low commissioDs |
las boston adrertissr, the n. York Pod. and |
osner hrst class papers join US in the inquiry
sasanse commissions" The Joarnal |
~ oo"meFee very Justly remarks tbat varv
large sum has been allowed nn5sr ~ i. ,e,5
stands, and this Ia, been regarded as a lob.
surely tnerc Is no proper reason for increasin9 |
mat compensation. When Congrss. 6,ad NJ |
nmit h was supposed BY The friends ~ III |
msasa,e mat much Of the authorized allowance
isg H. n ssssa 70 treasury and mot exceed
as the extreme which could be- GRANTED ~ e.,vss
Az sxpenses- This would have riven ssven
anu nett millions OF dollnrs on The vhnIe
loan anihnrixed but for rart Of n IL annsars
n exfa, and, as we think, an Illegal perauisite
a.s nsssdy been given to the syndicate. II |
- .his IN terms as Indicated Ia the public |
-. -. u would amount to about " |
~. usas additional, or say twenty-two and
~" msIlions extra, il applied to the whole |
h me saddest part Of this constant lob. |
o'.t on tho part Of those who MANAGE The |
PUBLIC Iunds Is not In the amount OF which the
S,rsy actually defrauded, but in the in |
s' h mith which the facts are received /
ala spessa before the people. The story Is |
s so'o, ,ne facts are generally admitted. the /
nage ngures are read, and the hearer or read
q shrugs ais shoulders, and instead Of 4 burn |
~ inauguration against the robbery he only |
scs,s nall suppressed desire that the pickings
asu come 20 his pocket instead. This NAV
,.'..h ns e Judgment, but we appeal for the
truth OF i to all who hear II There Il sban-
aan. evidence, in the present tone Of feeling
evetywhere, OF an alarming demoralixatioS /
ksoAing 70 great measure out of familiarity |
VIVA unreouked violations OF special oblirs.
s'ons and constitutional restraints. II Con I
s1e.s snauld grant i've per cent. commission
%. ~ me Whole loan to the hungry negotiators.
there would be little righteous indigna,ion =,
'he gross outrage. PAiia. Ledger, Dee. 23.