New-York tribune., 1873-04-18

position during tho great Sccretary's career
admirably qualities him for the Office to which
he has been called by the Legislature.
Two views of the salary steal arc given IN
our columns, to-day. Senator Bayard, who
opposed the back pay grab, voted for the
appropriation bill to which it was attached,
because the country needed the appropriation.
He sends his share of the plunder to the
Treasury, where he thinks it belongs Repre-
sentative Farnsworth, who voted against
the bill. has, on the other hand, de-
voted his share to the abatement
of taxes in his own district, on the theory
that each district pays its own member. Both
these gentlemen, however, agree that the in
crease of pay was not right morally, what
ever it may have been technically. Senator
Bayard's letter is an honorable and manly
document; it seems to show just how sensi-
tive gentleman feels when he finds himself in
bad company.
We print letter from Mr. j. II. Sparks,
the New York agent of the White Star line
of steamers, in which he takes the ground
that his company fulfilled all the conditions
required for the safety of tho Atlantic. The
fact that the ship was well-provisioned and
amply supplied with coal seems to be
established. The statement of the Off
GERS of the ,ossel that the coal ran
short because it was of poor quality, and
that some Of the provisions were washed
overheard in a gale, belongs to another
branch of the inquiry. SO far, at least, the
evidence which has been published in THE
I'm ptc and that
Mr.. Sparks, that the blame of the disaster
cannot justly fall on the owners of the At
lantic. Capt. Williams seems to stand as the
chief ulfrit; his mismanagement cannot be
explained nor defended.
Senator James Wood was conspicuous wit
ness before the Erie Investigation Committee
Yesterday. Mr. Wood felt little delicate
about having his previous transactions with
Jay Gould inquired into. His parry OF any
question relating to his borrowing $4,000 OF
that eminent fnancer is, substantially: Il
"have been investigated once, and that
doesn't count" Mr.. Wood, with a SIM
plicity that does him honor, does not
recollect that there was any Ere
legislation pending while he was
using Gould's money; lie distinctly recol-
lected the bill for the repeal of the Classsiii-
cation act but he did not know that Gould
was interested in that measure. 1t will be
remembered that the Senate, after Mr.. Woods
exposure voted that he was a good enough
man to sit with them. After his simple tale
before the Investigating Committee, we must
consider him quite too honest to stay around
Albany any longer.
Nobody expected much from tho Grand
Jury on the sO-called money lookup. AT the
furthest only a protest against the usury laws
was looked for; and this is exactly all that
came of the inquest. The presentment of the
Grand Jury is clear as to the ineficacy OF
the usury laws and the general absurdlty OF
retaining laws on the statute-bOok without
any attempt at their enforcement. But as to
the real existence of conspiracy to put up
the price of money, the GranG Jury are
by 10 means certain. The presentment init
mates that there is no such combination; and
this impression is gaining ground. The ap-
pointment of Committee to take steps to
urge the repeal of usury laws on tle attention
of the Legislature is, after all, the only prac-
teal benefit which has come or the investiga-
ton. In addition to the inexpediency OF re-
tanning statutes that are imperative, it
may be said that where the borrower
and the lender are alike interested III
suppr essing all evidence which would convict
anybody of evading the law, any enforcement
of such law is next to impossible. To find
some of the "usurers" we must look into
banks whose officers refuse discounts at legal
rates over their counters, but manage to do
tidy businass for themselves through some
trusty broker "down the street." But who
can put his finger on the offenderf AS The
TRIBUNE said yesterday, the worst of the
present furry is over. Everybody knew what
was coming, and the squall did not break on
an unprepared Street.
HOW We ARE TO BIZ GOVERNED.
The new Charter bears marks of clumsy