The sun., 1873-10-22
Tar worse than the Credit mo5i'icr.

ton Is NOW eScrting all it, influence to
promote the scheme of JAY Cooke X Co..
Tor arrcsting The proceedings OF compul-
sory bankruptcy There are various ren-
sous fer this extraordinary Interference
with the right, of ,wIndlcd creditors.
In the hrst place, the intimate political
financial, and social relations which have
heretofore existed between the members
of this firm and all the members Of the
Administration. from the President down.
make it desirable to prevent exposures
that would follow bankruptcy.
Although many transactions were con-
Quoted orally and Others kept from the
regular books, st.i there Is enough re-
corded, that canuot now he erased. TO put
Cabinet ofilccrs. Assistant Secretaries,
chiefs of bureaus. and subordnatcs OF
influence in most damaging position be-
fore the public. Besides these corrupt
officials, there l. a multitude of Senators
and Representatives who were bought like
cattle, or regularly retained in the service
Uf the broken bankers.
II the books and papers ever get into
court the revelations viii astound the
country far more than the sudden collapse
t.cs are put upon the witness stand, then
some idea can be formed Of the methods
by which the Treasury and Congress were
captured and held in vcual bondage.
The President would like to save the dis
credit Of bankruptcy TO his favo lite firm
aud friends. and 10 avoid the explanation
which the public would expect for his own
operations with and through them. both
personally and officially. Therefore he l.
very urgent IN advising those less FORUM
ate than himself to accept the proposition
az jay Cooke X Co.. by which the last vcs-
tlge Of protection for the creditors would
bc renounccd and the assets. such a. they
are, appropriated for themselves.
Last week dcpos tor called AT the late
iauking house of Cooke in this city. 10
make inquiry as to the prospects ts of saving
something from the wreck. While Quos-
tioniug the clerk Gen. Bahcock came up
and volunteered 10 say that if the creditors
united in the proposed release they would
Ice secured against loss. Hoadvocafcd thi-
policy with the zeal Of counsel, ald was
evidently rejecting the wishes Of the
White House.
Although detailed statement" ~ the
u
month ago. 10 supplement the oue-silcd
general exhibit which they caused to br
triegr0l he'd over the country. il has not
Teen furnished "a single creditor for oX-
animation. What rurports To- bca dctal-
cd statement i- entered on a huge book
Of accounts. covering many pages and is
retained in the banking house here. They
have not only refused to print n hut re-
fused creditors thu poor privilege Of max
4ng copies at their own expense, 50 a. to
prevent any fair analysis of the condition
or the concern. This tells the whole story.
If any doubt was ever entertained of the
rottenness which is hidden in the books.
The attempt to deceive the public ana
the creditors hy "A false prctcnCe that the
wives Of these parties would surrender
something valuable in renouncing dover
rights To- certain real estate has provoked
mucl indignation, now that this artihce j.
well understood. There is no real estate
but the banking houses, which are believed
to be covered with liens, aud wild lands in
several of the Western states, without any
ascertaincd value
II is not proposed at all that the wives
fhall give up the immense property which
was made over 10 them before the col
lapse and with the fun knowledge that il
was then impending and Inevitable. They
take good care to keep all that il worth
ANYTHING and then generously offer 10 pay
defrauded ere,litor, in refuse lands and
Northern Pacific issues OF paper.
A noted stable keeper Of thi. civ went
recently to Philadelphia 90 purchase "A
dashing carnage for livery. He wa, refer
V..lf -. tl...t t.s.f. t..I ..l
Of Jay Cooke X Co. The g.lded carriage
pleased his taste and he asked for the owner
to make his bargain. A gorF"Ously got up
servant informed him that the mansion
and al IN II belonged TO the lady" and
that sh" was the person 10 negotiate with.
That Will be the answer Whenever any
available asset il discovered
When Henry ID. cooke secretly conveyed
away his property N 1867 to his brother
Jay In trust for his wife, and kept the oon-
Veyance hidden unit he became bank
rupt, he was guilty of worse than a
deception During all that time he pro
fcss,d to he thcowucr Of the property. and
traded upon liz credit ~ a banker. had /;
assessed IN his name, and pad the taxes
upon II. Tn" object OF THAI roucoalmcut
Is now disclosed. And it Is inir to infer
from this tact, ana from othcrs which have
come to Light that his parlucrs followed
the example 10y making thoir wives rich N
the expense Of their creditors
senator sherman came from Ohio the
other day looking very blue over the
result IN that State, and little comfort
'd by the condition Of his Christian bank
ers here. To jay Cooke n Co. he owes
much of his u idenly acquired fortune,
"hl!' thty were indebted to him for much
Naluhhl" legislation, and for his influence
a' 'h"ilnan Of the Finance Committee, at
lh' Fr'hs"ly. Whether they made him
sP''M' d'poSitor,' on protected him
o'her"l''' II not yet known. but this and
othei secrets cannot be kept locked mn
AWAY Key Will soon be found Ia anal,
'he vaults where mass OF corr,ption
ana fraud II now hidden in dark corners
IL would be surprising, If the relations
OIL 'u the parties were not Known, how