The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-03-04

"That they had already discovered a
train OF the deepest VillainY and fraud
that hell ever contrived 10 ruin Nation;
which, in due time, they would lay,beGore
the Houses; and that In the mean
while, in order TO further discovery, they
thought it highly necessary to secure the
persons of some Of the Directors and
South Sea officers, and 10 seize their pa
pers." which was ordered accordingly.
1t was found, among other things, that
large allOtments OF South SCI, stock had
been given 10 several officers ofthe Gov
eminent and members Of the House OF
Commons fOr] promoting the passage Of
the South Sea act. Another entry oil
stock to the enormous amount of 81 259,.
3?5 was found, and proved 10 have been
disposed OF with view to promoting the
passage of the bill It was noted as sold
at various days, and OF prices itom one
hundred and fifty 10 three hundred and
twenty-five per cent. But the examina-
ton proved, under oath, that this stock
was 10 be "held" by the company itself,
for the benefit of the pretended purch-
asers, rs Cakes Amos carried" tho stock
for Messrs Kelley, COllax, and Others. No
money was paid down, nor any deposit or
security whatever given TO the company
by the supposed purchasers; so that II the
stock had lallen, rs mighthave been eX-
pecied, had the act not passed, they
would have sustained no loss. II, on the
other hand, the stock advanced las ii act
ually did largely by. tho first rapid success
OF the scheme) the difference by the en-
HANGED price was to be made good to
them, Just as the Credit Mobilier "divi-
dendsd were paid over by stool.pigeon
Ames 10 his delighted victims. This fcti.
tions stock, which was manipulated chiefly
by Sir John Blunt, FOUNDER and Director
Of the company Mr. Edward Gibbon,
grandfather OF the historian,) and mir.
knight, Treasurer OF the company was
distributed among several members Of the
government and their connections, by way
Of bride. To the Earl Of Sunderland was
allotted 100000 oil the stock;'t to the Ouch
ess of Kendall, (for her supposed influence
in high quarters 10000; to Mr.. Craggs,
Secretary of State, 100000; to Mr.. Charles
Slanhope, Zone Of the Secretaries oil the
Treasury and o member Of Parliament,)
EiOOOO Aislabie, the Chancellor Of the
ExcheQer, had made profits still more
abominable, being down for $4,000.
Sir John Blunt testified that he had sold
South Sea stock TO tho amount OF E6,OOO
to Colonel Monroe, Of the House OF Com
mons, at 275, and also 81 600 to- MIR
Banks, another member Of Parliament, at
$40, The House of Lords resolved that
the "plaCing" OF South Sea stock, by any
Director or agent of the company, for the
use or benefit of any member oil the adj
ministration, or any member oil either
House oFParliament, was q notorious and
dangerous corruption, Denunciatlons OF
tho managers were hot and heavy in both
Houses, and petitions Tor their punish,
ment poured into Parliament from all
parts of England. Lord Molesworth de-
clared that they ought, on this occasion
to follow the example Of the adcient Ro-
mans, and the contrivers and executors Of
the yillsnous South Sea scheme should
be tied up in sacks, and thrown into the
Thames,
Sir Theodore Jansen and Mr.. Saw
bridge, two members oil the House oil
Commons who were also Directors Of the
South Sea Company, were summoned to
attend In ther places, and after being
heard, 1t was voted nen. con-, that "they
were guilty Of q notorious breach OF trust
as Directors of the South Sea Company
and that they be for their said oifense ex'
PEELED the House" Four days later, Sil
Robert Chaplin, and Mr.. Eyles, Directors
in the Company, were in like manner ex
PEELED from Parliament
Mr. Charles SLanhope, however, who
was not Director, Jared better; for wheI
the resolution for his expulsion came on
| it failed by three votes-there being III
in favor Of expclling him, and $50 against
it. And this, too, although the resolution
for his expulsion set forth the following
very damaging statement Of facts:
That it appears to this House, that
during tho time that the proposal made
by the South Sea Company, and the bill
relating thereto, were depending In this
Honse, Gl0,000. stocks were taken in OF
held by Mr. knight, late Cashier Of the
said company, for the benefit OF Charles
StanhOpe, ESQ, q member Of this House,
without any valuable consideration paid
or security given for the acceptance or
payment Of the said stock; and that the
difference arising by the advanced price
thereof was paid TO the said Charles Stan
hope, Esq, out Of the cash Of the South
Sea Company"
The next member expelled was Sit
George Gaswall, who was also compelled
to restore the sum Of e950, 900 alleged 10
have been wrongfully made by him
through the South Sea speculation. The
acQuittal Of Stanhope excited the country
greatly, and mObs OF o menaCing Charac'
ter assembled in various parts Of London
HG had been cleared mainly by influence
Lord Stanhope, son Of the famous Earl o.
Chesterfield, having gone round to the
wavering members, urging them TO vote
for his aCquiltal or TO absent themselves
from the House. Six victims, however
were made by expulsion, and aiterward
all Of the Directors OF the company were
compelled torender an inventory Of theil
estates, which were contiscated 10 the
amount Of two million pounds sterling
for partial repairing Of the mischief they
had done, each, however, being allowed
l certain revenue TO begin the worlC
: anew. The Parliamentary Committee
!. who pursued this investigation with I
, Temorseless earnestness which affords 1
powerful contrast TO the diletldnR pro,
c ceedings OF our Congressional Credit Mo
! bilier Committees, brought In seven sue
! Cessivo reports on different parts OF thu
t evidence, which afford, even at This day
= IhiphlV interesting rnadinT