The sun., 1873-10-16
DISTRESS Nv WAsHINGToN.
The Ring Government How they Work upou
tho Prcsident-New schemes Tor Bleed'ng
the United states Treasury,

The Ring Government HOW theN "oI" "p"u
tho Prcsident-New schemes FOR Bleeding
the United states Trc0sury'
Corrcsrondencc Of The sun
WAsHrNGToS, oct 1.-THE ruinous fail-
ure OF the First National Bank and the sus-
pension Of the National Metropolitan and 1--WE
other banks have produced a most serious state
of thin,s In this community, where the banking
capital is limited, and the people at tho best are
dependent upon restricted re- ,urccs
All the solvent banks have been Obliged Wv the
pressure to cln1ue their discounts of ia'ors
within the closest lines, so that tho dcrunse-
mcut has fallen upon the strong as VIII aa iAc
weak.
one necessary eject of thl- abnormal condi-
tion is to stop thc payment of all taxes, which i-
not subject of regret. ~ IT must react on the
Dl trict Government, and perhaps help 60 bring
about relief from Congress IN some suDstintiil
form.
Ihe largo discount allowed for prompt pay
mcnt Of taxes was operating with some succc-"
when the crash came. and perhaps one-fourth Of
the total was collected during the month oi
August md a pfrt of September. Now. tc
gatcs are shut down tighdS and are uot iihely 10
\ cortain cle-. Of certificates nrc receivable
fur special a..c.s meht-, bat d. nuuAn thev have
iulgh t. hIi t'ef nominal N"t. 'iuo ois
oppressive form of tuhHtiou.
ln spite OF all thl. suci lc-d and hit crow 'rc
when their treasury il moi .liou-ly hahiiIuIl T.
tuttrdD tots ,auuut "a 90 luultI ~ thDtr tn-
easements end t.erc Il no m"r' ini I,'ir c'
Ilc sole reliance f thc Runs i4 upon CONGRESS.
ANA thy.r hopc j. iuit.od hl the iminci- sue
were obtained iu six weeks. They have induced
thc ,.idcut to believe that every attack "u
{ 30 ..lfuptiuu j. moved oHly by ruh'ici h15-
tiity 90 him and g. his Administration.
Hence it is proposed 60 make thc new sc'cfu
for hiecuug the Treasury an Admins ration
meas IrD, ia the cal IctdttUu tAet % VIII tu u-
ul3ud more favor NI,u rcCnWMcuu0i 1 90 e.
tue-. age. As the Pre- idcnt endorsed the Illegal
tuuuart tf litNIuck ut sun D'tuiu-1 when uC
assumed o. fuak. q convention with ltnX 10y
Wli,h thc Pred ,ut wa' committed ~ r-e hi
iulurure with toHsrt-s for annexation. ~ is mot
ouuh,td tuat he N,t sustain Alih aud nis core
ulrt tuul' irrutn- NOW.
1nc only finished part of the ciiV f. w the now
mort IWestcin end " irh s almost cniirep Wi Do
out y pulution. \ Ring was formed, To I1e eludo
NT.ou. senators and Represent ltNcH. tpr tie
proncrtN was secretly hru.'l at the lOvcs ratcs
tucu Toe plan Wd- ul-clu+cd
streets and a,,uut- were upeucd IN all dircc-
tofs, Uaycd VITA con rCtc ur wood, railroad
/ lines connected with GEORGE, town and the cN-
/ ucuc points uf Nasiiutt'm ee aud water in-
/ t~IriatI'u ol u.Wcr could accomplish. In fact
th' Wh. ice force Wa thrown there th order tu
900 hc Che "rtHu'l'i1n nt ilHucdi ttc SUCCESS.
%. 10 t.c huJy no tax ity,'- w'o have no inter.
!. "a y 81 lHsa
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xxx. 4 t' ,,t G'- wy
/ " r.'ier', "..n'ut colo. ot reason bat
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~ 1T .i'i... guy .'.'" " '.livI ", vtt a. =,
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S.I w. a. t'',, -. id nD "hu ~ &.'t
B 'iN- f,Nt' =" l'i' 'tI. lu "lte ,NN'tl tne!
/ 4.' ana h'4 -hANcu "I 'Nniblihi as Ait.
j. I- D. irHurd u r'NNAt iuis game on lirc'l
B 'hr'i '.i-.r rc- WEI venture u iNhicT 'h'