The New York herald., 1873-10-23
NEW YORK HERALD THURSDAY 2s s-TRIPLE SHEET

as we fear. among the principal creditors of
his house. The dinners brought business, and
when dinners were over we had receptions at
the Union League Club. Buchu in evening
dress, and the Marquis of Bhtherhampton, his
guest, at his side, and New York hurrying to
see them. Was it not all in the next Weekly,
full page engraving, ten thousand copies
sent over the world, at Buchu's own expense? !?
So the house became more and more famous
every day. Buchu himself subscribed to
churches of every denomination and became
the treasurer of all the charitable societies.
Els success in floating and popularizing SUM-
dry loans and stocks is known. He first pro-
pounded the celebrated axiom that ga national
debt is a national blessing !" that no matter
how much. money one owed, 30 long as he
had credit his debts were only SO many in
ducements to industry and enterprise 1t was
Buchu that foated the "Munchausen Petro-
leum Company" the "Cagliastro Greek Lubri-
eating Oil Company the Jonathan Wild
Silver Company" the "Apollyon Quicksilver
shares, the ''Buchu Lead Company the
''Bubbhng Spring Gold Company" and
other celebrated stocks of this class. These
stocks are not quoted to-day. We are afraid
their selling price is altogether by the guam
tity /; but the fact that there was neither oil
nor quicksilver, nor lead nor gold, that
the dividends ceased to come after the
last instalments on the shares were paid,
the fact that many poor men who read the
Pantry Echo and other journals in the Buchu
interest were large owners, should not
tarnish the financial fame of our unfortunate
fellow citizen. For, as no reader will deny,
true financial success is found in making
money out of nothing. The simplest trades
man can sell gold and silver for their values
Any bagman or padding pedler on the high
way can find price for cloths and gems
But to sell printed paper, with vignettes and
graceful type and worth ten dollars ream,
for thousands OF dollars, requires the nrest
order of genius-the genius of Buchu.
1t was this success that led to his becoming
the financial agent for some of our Southern
States. When some Of our fellow citizens,
who had not prospered at home, went into the
South after the war to act as Governors and
Senators for the reconstructed States, they
found it hard to obtain money. They had no
credit before leaving home, and were not
calculated to inspire credit abroad Old
fashioned bankers did not care to have
dealings with gentlemen who escaped from
the Penitentiary at home to become the
Governors of States ruled by negro legis-
lators. But the financial genius of Buchu
came to their aid It sounded well abroad
to be financial agent of this State and
the other. So, by the advice of Buchu,
money was promptly raised in the South.
Our gifted friend simply applied the
economical principles adopted SO sue
cessfully by Cortes and Pizarro and Rob
Roy and Warren Hastings. There was
money in the South, and, if it did not come
legally, take it: 1t was Buchu who IN
vented the ingenious policy of issuing bonds
by one Legislature, and, after they had been
sold in the North or in England, to repudiate
the issue at the next session. To be sure, the |
bonds did not bring much, but they brought |
something, and something is everything to
gentlemen of the financial necessities and re-
sources of our enterprising friend
We might dwell upon the railway achieve |
nents OF this famous house, but this would be |
to make our story burden. 1t is only few
days since Buchu was prince on Wall street. |
But for that unfortunate wheat movement he |
might reign to-day. There are men who point |
to him as quack and pretender-an adven-
turer without capital, credit or capacity, |
whose assets are worthless bonds and |
shares, who has been moving on in |
a noisy way, without money enough |
to pay his current debts; that he has
never known an hour of solvency that he
has sustained himself by falsehood, expedients,
political alliances, advertisements in news
papers, and that he fell because he was himself |
essentially liar and his whole business false
and rotten. Far be it from us to repeat these
envious, unkind phrases. Rather let Us re-
gard the noble Buchu as one of those unfor-
tunate men of genius, above their time or too
high for their time-a man truly loyal to Grant
and his party, whose dinners were good,
whose smile was sweet, whose reform speeches
were models of indignant eloquence-s.a man"
who, to repeat the words of the discriminating
Pantry Echo, ''was SO strong in his business
that he only fell before crisis that would
have destroyed the Rothschilds or the
Barings."
Our Railroads.
w