Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-09-26
The President Under Pressure.

The anxious souls who wanted somebody
besides Gen. Grant for President, at the
last election. and who have since been IN
trouble about q" Caesarism. ought to Zee
little treasured. The financial panic offered
to a President who had any thought oil
dictatorship. or purpose to perpetuate ms
hold of Office. rare opportunity ne nau
it in his power to secure by a Woru 'he
gratitude and support Of the money kings
who can furnish the sinews OF war TO any
amount. in future political emergencies
and he could begin the process OF SUBSTITUTE
inp his own will for the authority Of law,
under circumstances where thousands would
applaud the usurpation. This opportunity
he did not choose TO improve. President
Grant M the invitation of a number OF
the capitalists Of New York, took his Sec
retarv Of the Treasury and went to that city
o. saturday He was there served with
formidable petition Of bankers and mer-
chants asking hin to order the Treasurer to
issue the reserve Of S44.000, coo of green
backs N the Treasury. in loans to the banks.
. 1e-re- lv the eminent LAWYER. Revcrdy
Johnson. was presented TO him, setting
Ell. .b, .v-re,ne ,,rpencv Of the occasion.
- -b.+ Lawyers DISAGREED as To the
;-... -,, -...rro and advising
MIN to stretch the point Of legal power,
- H.. e.-.,-r..,- millions into cir
,-.i3 1...1...7 -l,, ,e-i+;or
0'.-1'' I-. ~. -....l- # d.. -e-
N'''. a ''' ''', fan tho
Iu7i' "'-'- r--~l.-. w.
DAi .., 'N '''' '''''''- r., - ro-
DER ''-. REM '''' - "a
SON. '"e' ''' ~ 80 ooo ooo g. .l.;- -
i,A '''' '..'' y. -. p.a..5,r- would
nc ..........-r Ill.,. q,-.,.,-r IN
-. -5- oo, ooo
NJ p-.-;5.,,+-. ..,s,,sr wa. that he was
willing to do Vhate1e7 the Constitution
and the aw~ would permit MN 70 no. ioi
the relief % che hnan'e9- hss on- 'iil' -''
would not 20. mere was DID 1'1'' % ''''
right OF the t. : treasury 10 'ls t. =
bonds az price NOT eA'eeIln- f'-i i''
That ne "ouI1 '-1ei 'ne ii,.-'1 -
to any amount 'i1- HI : III pc 'iil- '-'
Wo1ll MOI issue '"' '9'1'''','', -, -. .t
green9aeh7- we dc NOT u'u'- '-'-' "
DECISION "a- d " it 'i'' -'' ''-- ,. IN -.
II lS h'' ''ie %
to protect ~'''A 9i'''''-'''i-' '''.' - 80
ihe money mar .' ',-i "N-' 80.
the exercise % d ''' '''''- 80 c, -
OIL 'He i'''''''li,' ''''-- n -.
perauee A"h -'- 'N .-'
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fIe>''''"' '' ''A'
unu'"''9I-s 'A,''-'i'-S '''' -.
nave " very i'''' d. '-- a. -.
man al 'le Nl-iA % -'' q '-'i'' ms
NOT 'Ne Al'' 'l-i' ''''' ''''
nave proven Oh -sI'''e 10 ''''
Though the successive suspensions Of
three sucb treat banking houses as Kenyon
C5xk Co.. jaw Cooke a Co.. and Fisk d
Hercb make solemn time in money cir
ole. r. +. 10 De remembered that il is
a financial and NOT commercial panic.
Tbrorrb an the ru.b and whirl of the past
dsv nv ruo in Wall street. the business 90.
rho rrest nr.5uce exchange of New York.
We are told went on with scarcely ripple.
NAM stock .neculator. are in trouble
enough but merchants in city and
country. who have confined themselves To
legitimate bushes, are reported as general
" in good condition. There Is no reason,
therefore. why business outside of the Stock
EXCHANGES should be much unsettled. in
the country at large.
The embarrassment of the house Of Fish
a Hatch occasions especial concern in ouI
community. from the fact that Mr.. a. ;
Hatch of the firm was Burlington boy
The house has always maintained Jh,
highest character for integrity and stability
We believe IT, members never speculatel
in stocks. and their suspension. we sup
pose. must be due to their business connec
tions with Jay Cooke Co. These were in.
innate when both concerns We're marketing
immense amounts of government bonds il
former years. and We think likely they have
barrassment can be ANYTHING but temporary.
as their means are very heavy. and there i
the ptmo.t confidence in their honesty and
obili-r
Tbo.,rno.-;,r If .T,, C,,tst On with IN,
,..,..--.,au. :, ;+. ,,-;,,s l,,,. and NOR.
z.o.n-I,- ,-;-b tho n.,,otioti,n. rbrourb III.
SvDdi.ots If ,be new five per cents. it la.
- e..-.5 ,r,-ld Load +, imnor-grt com
,,li.,-i..,,- u, +l.s r,-,,-o lint II +. autl8rira
t;r.l, declared ,ba- the Syndicate Will moi
+, .rv v,a,. rs . fyscted nv rbe suspension. i
o,.,,..;u,- -;,,r1, - I'm ,bo- one Of,
NAVY Of five IN one side of a contract ha
d,o,,.5 o,+ -b. other f,yr b,rinr IN 4,
what the five undertook
tn. o-l,.- Js,.--T,v G,rl5-it Is stated
has nocts-e5 between si1 and eirbr million.
bv the tumble in stocks which has beer
largely his work The fatrinr of so recl
less and dangerous a man a, Gould. on tn,
distre--e- of honest men. +, not a pleasant
thing 10 contemplate.
TIE BACK PAY QUESTION There seem.
TO be some prospect that Congress viii taxi
hold of the back pay question Immediately
upon assembling anu pass law reducing
'"' f'' vs. IN 80, r
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-..-..t.--= ~. -. ,oo
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