The New York herald., 1873-11-01
OF Utah QLimitcdl" l"-Anothcr Indem-
nifty Exacted from England.


nifty Exacted from England.
No financial achievement of modern times
has produced so gratifying an impression upon
the minds of our patriotic people as the sue
cess of the "Buchu Silver Mining Company
of Utah (Limited)." Whether we dwell upon
the genius that planned the campaign, or the
energy with which it was fought, or the
triumph which marked its close, we are alike
lost in admiration. Two great results were
accomplished. Many of our most eminent
public men-like a Senator from Arizona, for
instance-became wealthy and were enabled
to devote their gigantic intellects to the public
welfare, untrammelled by financial cares.
Perfdious England, whose treatment OF
sAmerica during the Revolution and the re-
bellion can never be excused or forgotten.
was compelled to pay an additional indemnity
of five millions of dollars.
The conception of the plan was worthy of
Napoleon. German baron, who had pur-
chased his title from one Of those potenta tes
who had made money by selling soldiers to
Great Britain to fight her colonies, was the
Moltke of the undertaking. With him was
associated keen Yankee banker from Yer
mont, an apt pupil in the science of financial
Buchu, who had risen from peddling razors to
dealing with shares and money. The third
member of the trinity was the porty and
handsome Senator from Arizona, whose voice
is now so potential in administration councils,
and whose wealth is one of the glories of our
social life in Washington. What they had
was an ordinary silver mine in Utah. BY
an ordinary silver mine we mean q strip
of earth covering certain silver deposits,
but with contested title, SO far away
from machinery and water power that mining
was almost impossible, and SO badly worked
that no one could tell whether it would last
one year or one month. The ordinary mine,
after it passes out of chancery and has proper
facilities for working and has sent its
original proprietors into bankruptcy, and has
been the cause of the murder of sheriff or
two and some of the ''squatting" claimants
in other words, in about twenty years after
railways come into the neighborhood is not a
bad bit of property. But for purposes like
those of this trinity, as an honest investment
for capital, it is of no more value than silver
mine in Ujiji or on the shores of Lake Nyanza.
This is the crowning event of the achieve
ment; for those who have carefully studied
the principles of Buchu finance, which we
have taken 80 much pains to elaborate in these
columns, will discover that the cardinal idea
of the beautiful and popular philosophy is,
that true business consists in obtaining values
for valueless commodities. In the olden times
it required supernatural influence to make
water flow from the bound and stony rock.
If it required miracle to do this under these
early dispensations, with what reverence should
we regard the modern magicians who struck
the barren and hard rocks of Utah with
their wands and made stream of English
gold gush forth ! This is what they did. The
Baron, the Senator and the ex-pedler
found themselves in London. Behind
them WAS injured America; before them
rich, perfdious, unrepentant England
Like Mazeppa, our Senator may have said,
Time at last makes all things even." But
the Baron, who had truly Hessian sense of
the meaning of the enterprise, and went for
money all the time, we may feel sure wasted
no time over memories of Lord Byron. He
made the campaign. First it was necessary
to find two or three English names. In Eng
land there are class of poor men Of noble
lineage who support their rank by acting as
directors of all manner of companies-for
coal and exhilarating smoke and condensed
soapsuds. Their duty is to formal y attend
the meetings of directors, take the guinea fee
and go away. In the mercantile slang Of Lon
don they are called guinea pigs" and are
not apt to be buried in Westminster Abbey
when they die as types of English manhood
and honor.
The guinea pigs" discovered by the Baron
were that well known liberal Member of Parla-
ment, Sir Augustus Tomlinson, and his con-
servative associate, Sir Jonas Chuzzlewit,
M. p, descendant of the famous fnancier
who bore that name and was knighted for his
services in transporting dead and wounded
home from Sebastopol; and Lord Gobbling
Vulture, young son Of the Duke of Condor
who has been in bankruptcy several times
1t was necessary to give American color to
the mine, to identify it as closely as possible
with the United States. In ordinary times
this would have been q hopeless task. But
the Hessian strategist had made profound
study of the United States, his ancestors hav-
ing fought and died on our soil He saw new
ideas Of financial integ rity, arising out Of the
war. He studied the Tamnnany Ring, Erie,
the Credit Mobilier, the whole Buchu philoso-
ply generally. He saw the government dis
miss from its agency in London one of tho
first banking houses Of the world, and entrust
its credit to a mushroom growth Of the house
of Buchu, and with the eye of Frederick him
self moved at once to the position. First he
interested the London house of Buchu, who