New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-12
LETTER FROM NEW YORK.
New YORK, October Z, 1873.

this stand point the beating Of the fnancia
q pulse. He has been much in consultation
: | with ex-Secretary McCulloch, of the syndi
l. cate firm of Jay Cooke, McCulloch 4 Co.
8 bankers, Of London. The 1Secretary
!, who arrived here few days after the fail
e | ure of Jay Cooke g. Co., of New York
o Washington and Philadelphia, says that he
. had no intimation :hat such a thing would
> happen before he LETT England. He hal
! labored hard, since his arrival in the United
States, 20 preserve the official relations oi
his London house with our government
: but il nas been decided against him, and
| the house of Morton, Rose d Co have been
appointed the fiscal agents of the United
States government in London. Our Minis
ter to England, Mr.. Schenck, has been Off
eially notified Of the change. 1t reminds
me Of q few incidents connected with the
| organization Of the Syndicate, the High
! Join. Commission at Washington, the Or
ganization of the new banking house of
Morton, Rose 81 Co.. in London, and the
appointment of Mr.. Schenck as Minister to
England, AID why he was induced to go.
Soon after General Schenck was appointed
minister. as above or about the same time,
he was rendered by Mr.. Jay Cooke the po-
sitiOn of law officer of the Northern Pacific
Railroad Company. The salary was SIS. 000
The two offices were held by the General
for time under consideration Meanwhile
| the Court of High Joint Commissioners at
| Washington was established and the COM
! missioners We're appointed. Mr.. Rose, now
OF the banking house in London referred to
above. was prominent official of the do
Minion' government of Canada, and esti-
mated IS one Of the shlewdest tinauciers
and politicians in that country. Before the !
Washington High Joint Commission was
decided upon, Mr.. Rose made several visits |
to London and Washington, and had the |
credit in diplomatic circles at that time of |
having conceived the idea Of that great
court and initiated the basis of agreement
upon which the. claims existing be-
tween Grea. Britain and the United
States could be smicably settled the
main features of which were incorpt rated
into the final decisions of the tribunal at !
Geneva. During our late war Mr.. Rose !
was designated as confidential diplomatic J
agent OF the British government, TO visit |
the capital Of the United States, with a view
OF acquainting himself Of the views of our |
pubic men. and securing, as far as il was |
possible and consistent. their aid and co.
operation IN making secure and permanent
the :hen existing friendship between the
two countries. While a. Washington he |
frequently attended the receptions given
hv the Pres ilans Nr |
cabinet ministers: he also attended the dip |
tomato receptions. Although Canadian
OF the OLD school. and an energetic. able,
everyday business man, he possessed also
the scholarly graces which admitted him TO ,
the highest society in Europe as well as in /
America. For the services which Mr.. Rose | '
had rendered the British government in
quietly bringing abou. the means which re. !
suited IN creating the tribunal at Geneva. | =
ler Majesty. the Queen Of England, desig. t
nated Mp. Rose as one of the high Joint | .
to represent the Dominion. r
having already, from his known ip9u- a
'nce with The two governments and Load
NJ hranciers and politicians of England
IND the United States, been invited bv Mr.. | e
ne!r new banking house. then organizing a
london, he declined the Queens profier. u
nhounc!ng his purpose TO leave the do ! n
alnlon anG take up his residence in Londo, | IL
eEmanently. and that he had accepted the | ~
rendered. p'
~ WI! be remembered thar General N
ehenek having accepted his commission as | in
Minister TO Ed. gland, was designated by the n
Gesldea. as one OF the high Join: commits q,
ohers. ihis step was II keeping with the In
t' % the English government: in naming 10
lr. thornton. their minister a. Washing pi
III, as one OF the same commissioners. W.
tier the commission performed its ,ai..in,, ! a
Washington Genera! Schenek. in view GA az
10 lset :has the :elGe. o: tie important ~
's!coi ot law office: q: the Northern wi
ae!iic Railroad Company would permit la
N 70 remain in the United States. with a Al
rser salary and less responsibilities. de- b be
oed that 1t was duty which he owed to of
'anAy ana to nimsel. TO do SO. Mr.. Jay in
ooke quickly removed the pecupiary oh. Cal
cNoH. assuring the General that the S25 coo ,;i
ould be made good, and that London was VIZ
g hes: place for him: that there the syn.
cate was to be erected: that Che High ,ht
Durs OF Arbitration was TO sit in Europe. 49, 49,
10 as ne had been at the head of the Com | seI
lttee on Ways and Means OF the raired bel
a'es House Of Representative. and WAS srl
g OF the high joint commissioners. tina. i. W. W..
'uld be highly appropriate for him TO Wv
present the United States government at ant
Court o: s.: James. General Schenck zen
thdrew his objection 20 gsing abroad. con
q Eent. unde: Mr.. Cookies promise to blu
" al! over Che minister's salary Of wa
900, up 10 tho railroad salary of s25 900 sup
about the same time tina. General ms,
henck was preparing to leave for Eng. tina
ID. to ente: upon his duties az our minis tiyl
:. tho "Emiaa rine' project was being ,oa ~
'anged by several gentlemen, with whom sole
neral Sehench had interviews and mid of /
hs slttlngs "a Washing ton and New asst
TX: and. afterwards. in London, While az,
our official representative became one afte
the stockholders and directors. Nav Aft
It the house o: Jay Cooke ha. fallen, it lhto
Ia ms I" be seen how much longer Gen. | low
sehenek VIII remain at his post. as i. edit
'ot likely that NJ. Cooke will! Gesi,e TO It's {
'ahce The increase OF salary any longere o CIV,
IL IS certain TIA: he Northern Pacific fam
npany can no..
"-day The Hon. William 4. Richardson
ked down broadway accompanied BIZ i
onel Fran. = N,w. IN. s,,;a, ing
- " 'PSo'"' ''e"s Pan