The sun., 1873-04-25

| Senate, both Of them notoriously the re-
| taned agents of the Ring in Congress.
After exhausting the limit OF loans
authorized by the local Legislature, the
many millions voted Ivy Congress, the large
revenues, and forcibly scizing upon the
school, police, and other special funds, the
Ring at last have got to the cnd of their
rope, and now knock in vain at the door OF
an empty treasury. The community is too
| poor to carry the load heaped upon its
back, and therefore has stopped payment.
IL is officially stated that little more than
one-half the regular taxes has been col
lectcd for the current fiscal year, although
discount of ten per cent. was offered as
an inducement to taxpayers.
The most oppressive BURDENS that under
the name of special assessments for the So
called improvements OF the Board of Pub
lie Works which form the basis of the job
berry, frauds, and corruption that have cx-
cited public attention, and exceed in ini-
quity the rlscality of the THmmany
thieves upon which il was modelled. The
enormity of this robbery startled the
people, and as 1t threatened conIiscation of
their property, they determined TO contest
unexpected resistance upset tho oalcula-
tions Of the Ring and left the plundcrcrs
prostitute. They have been striving by
every cxpCdcnt TO borrow more money,
and to bolster up the broken credit of their
prohigatc Government. The bankers and
men Of capital i'm Washington will not
favor or handle their worthless paper
issues.
The limit of debt for the District, fixed by
Congress at ten millions. has long since
been exceeded, and the limit Of five per
cent. Oh the aggregate of assessed valua-
tion of property fixed by the Legislature
for loans has also been illegally stretched
Ivy fictitious and fraudulent assessments
SO that there is really nothing to offer rs
security for new loans. The Delegate in
Congress from the District, who Is simply
the tool OF the Ring, introduced two bills
at the last session to authorize an issue Of
bonds to the extent of two millions, with
n treacherous clause intended TO make IL
four, professcdly based upon certificates of
Indebtedness, 10 be issued against the i'm
proved property as special assessments.
But both these efforts were abortive.
Having failed before Congress, the Ring
now propose TO use their Legislature,
which will meet on Monday next, rs a ma
chine for creating another swindle, which
they hope TO place in Wall street by the
aid of Gov. Cooks, Tlose own banking
house will take good care not to touch it.
We have received from the inner circle of
the Board of Public Works the details Of
this projected job, which will be found, 10
their surprise, ia another column. The
plan, Invested OF all it, deceptive drapecy,
II simply TO raise two millions Of dollars
upon the credit OF certificates against the
property of individual citizens alleged to
have b 'cn improved 10y the Bonrd of Pub
lie Works, and which those citi2ons refuse
10 pay because of excessive charges, bad
work, collusive bargains, and Illegal cX-
actions
Nothing is easier 'han to buy AN opinion
as is AN opinion for any job, however
Shameless. That which has been prepared
10 order IN this case, We are informed, is
10 be signed by shat universal genius,
CALEB CUSHING, and a lobby lawyer known
as WILLIAM r. CHANDLER. \ third il to
be sought from tho local bar at wa-hing-
ton 20 give we ght 10 the opinion, II u
respectable counsellor will sacrifice his
good name to such an object, for vena
fee.
These lawyers have sought To make the
most of their desperate case, and yet the
opinion reveals its weakness M every
essential point. An admission ia forced IN
closing which tells the whole story of the
worthless character Of the issues, which
they say are authorized. These certih-
Gates Of Indebtedness thus issued by the
board are in fact the Indebtedness ot he
tndiridudl property holders. converted into
negotiable form by the Board OF Public
Works" The answer is that they are not
Indebtedness at all until legally estab-
lished. The property owners deny the
debt, and two large suits are now pending,
which will go 10 the supreme Court and
establish the principle in an other cases.
No doubt whatever Is entertained about
the decision of that high tribunal, because
the daring violations OF law are too pal
pable 10 admit of doubt in any court whore
justice il respected and the Ring does not
own the judges.
While this litigation il going on no pro-
cess win lie against the property which IL
OstcusihlN held ont ~ the guaranty for the
certificates of Indebtedness. Consequently
there is not only no security offered, but
there IL no prospect even for ia, payment
OF interest. The whole thing Is desperate
swindlo, cOntrvcd u cheat the public, ana
has no more foundation 10 rcst upon than
the III Pnso swindlc which was recently
exposed in Paris. Whoever wants to buy
into long lawsuit, on TO enjoy the privl-
lcge Of wastlng grccnbHcks, will find u
favorable opportunity by applying TO the
Washington Ring.
More of the Same Sort.