Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1873-12-05

HiHSc hcatH hEH iASt ttaDlc hua iucAe weAe
many Other instances of moral courage OF
the highest degree.
The latest advices set the loss at two hun
dred and twenty-five souls, while only
twenty eight are known to have been saved.
1t is possible, however, that some passen-
gers escaped to the Loeb Earn, Of whom We
have no account, for the rigging of the
latter vessel would be about on a level with
the deck of the Vile du Havre. and passen-
gers could have rapidly transferred them
selves from one vessel to the other. 1t is
also said that the accident was unavoidable.
and that no blame attaches to the officers OF
the steamer. 1t is but just, however, TIC
the hundreds of homes which the disaster
plunge into the deepest sorrow that rigid
and Thorough investigation into the cause
of the collision shouli be made, and the
blame, II blame there -. laid Whsre Al
rightly teiongs
Report OF Inc Comptroller 81 iLs ,aiI.Hs'
The report of the Comptroller OF the Cur
rsncy rscite@ the history of the la:e 1nsnciai
panic, wiki the condition ofthe country at
tending. and says the crisis may, in great
degree. he attributed to the intimate rela-
tions Of hanks in the city of New York with
transactions sf the stock board, more than
one fourth and in many instances. nearly
one-third af h,lI= receivable of hanks SINCE
the late civil war having consisted or dc
mand loans to brokers and members 81 the
stock hoard. which transa ctiOns have tSa-
dencv 10 impede and nnsettle, instead oil
facilitating the legitimate business Interests
of the whole country. Previous to the war
the stock hoard Is said to have consisted OF
only $50 members and its organized prln-
cinle wa strictly commission business
under stringent and conservative constr
tuition and bylaws. The close Of the war
found the membership OF the stock board in
creased to |, 100 and composed OF men from
all parts of the country, many oil whom had
congregatei in Wall street, adopting Tor
their rule of business the apt motto OF
Horace MAKE money, make 1t honestly IL
Won can. at all events make money. The
law # the State of New York which had
been retained on the statute book since lol3,
restricting the operations of the stock hoard,
had unfortunately been repealed in 1858, 50
that It's members and manipulators were
enabled to increase operations to gigantic
scale Quotations of the stock board are
known 10 be frequently hctions OF specu-
lation ana vet those fctionS control the husi-
ness and commerce of a great country.
and their inhuen, is not confined to
this country hu extends 10 other
countries and seriously impairs our credit
with foreign nations. Fictitious debts OF
railroads and other corporations which they
have balstered mp and which have obtained
quotations in London and other markets
OF the world have now been reduced
IL a more proper valuation or stricken
from The list Whether the Congress
of the [ nited states or the Leglsia-
ture IF the State of New York may not re-
enact law reyiying similar restrictions
with great benefit to the true business inter
e-t Of all parties Is respectfully submitted.
The following statement shows the
whole amount of the national bank cur
rencv, .eeal tender moi es and fractional
currency issued M to October 18th and
Nov lst, 1873 National bank currency,
S3sq, Ols ,05G November list $3.50, 1872 ,65i;
legal tender notes, 1855, SO ,6Ss, Nov. lst,
S360. 9j2 .2O6; fractional currency. sac $685.
1871. Nov. lst, S47 .s76. l49; Totals Oct.
18th, $50, 3I5, 1876; Nov. lst, S15s, l6l,-
239 Deduct amounts held by the treasury
and hy the hanks SIl6, 496. 49,, Sl25, lt0,-
70 which VIII leave unaccounted for, Oct
10, S09g, sir, l3s, Nov. ist. S63l ,020.Sl2.
After making due allowance for currency
held hy the State and Savings Banks, Trust
Companies and private bankers, these are
larger amounts than can be supposed to
have been in the pockets OF men or in the
tills Of small dealers, but it may he lett to
the ingenious in such matters to divine
what portion thereof was boarded by the
timid, the ignorant. or the co7etou=