National Republican., 1873-10-06

OF the competing routes are care ,
'ully weighed the claims In which their in ,
erests reside mny bc presented to friends
md through fricnds2 There Is food for ma
lure reflection in this significant question.
PROPOSITION OF JAY COOKE & CO.
The readers Of the RrruBLIcAS will recol-
iect that Mcssrs. Jay Cooke & Co. have
placed before their creditors statement Of
the assets and liabilities Of their irm In de-
tail, and have also prepared in connection
Herewith form Of agreement for settle
mcnt, to he presented to their creditors for
their consideration.
The main features Of the proposed agree
ment, which was published in full In one OF
our special kilograms from Philadelphia on
Saturday morning. are as follows; ....
oTne members OF the nrm Of Jay Cooke Co.
surrender all their partnership and Individual
United States Commissioner Of Internal Reve-
nue-will have the management Of the estate,
be made whenever the trustee has cash in hand
sufficient to be divided-commencing very soon
after the agreement isApproved by the creditors.
which guard pefiecti, peri The interests % Of the gene
raj body Of creditors. The creditors surrender |
no rights they now possess, but merely accept |
Seness and sSs debtors @ cam % gain Nothing NJ except
the surplus which they hope to secure by an
economical and judicious winding.up OF their
s fS Are sysn s hs
selected committee"
It Is proposed further to issue to any
creditor q certificate Of his interest in the
trust, signed by the trustees, which will be
| negotiable. After the full satisfaction Of all
the debts the property remaining will be re-
assigned to the firm.
The understanding Is that no general
meeting Of tho creditors will be called to
take action collectively In this matter owing
to their diverse localities. But they will be
addressed by note or circular in reference to
their assent to the proposed arrangement In
all instances where the distance renders q
personal interview with members Of the Arm
difficult. All parties interested can examine
the papers at any time by calling at the
business Offices Of the nrm In Philadelphia,
New York or Washington, where some one
or more Of tho members will be glad to sec
them and make the explanations necessary.
Commenting upon the proposition Of Mcssrs.
Cooke 4 Co. the Philadelphia Inquirer says;
"This arrangement seems mapifestiy TO the
interest Of the creditors, and we believe u viii
ess Is prpn nes q he creators sssdy con.
suited. Il seems to be the common sense
method and indeed ne only prn;te,Se
tious delays, and partial sacrifice OF the assets
| TO the injury OF all concerned. To wind up such
vast estate under the rigid rules o. tne bank. an
voluntary assignee under State laws, would
necessarily sacrifice q large proportion Of the
Sts1 ss ps S ,a' 81 Uoa
| and cebtora require that the estate be managed
and closed up with prudence, economy anu @ ons, y.
IN arrangement similar to that proposed. The
+ oest evidence Of the desire OF the debtors "a
protect tb cir creditors interests IL furnshed OS
: @unity IL more Competent TO nii that position
Or better tted for It's duties by his integrity an!
business ability. than Hon, b. 4. Rollin,. :
I committee will he carefully selected, unde
3 whose supervision he will act."
The remarks quoted from the Phlladelphi'
Inquirer appear to US most judicious, an'
! the proposition Of Jay Cooke & Co. strike
us fayorably. We see no reason why an!
creditor should reject 1t. Indeed, we do no
A know Of proposition more highly HONORABLE
, than II Is. In these days men who fall d.
a not readily give up everything they posses
, and refuse discharge of themselves, II III,
. property transferred should not pay In full
as do the members of this firm. They insls
that they will remain bound until every cen
, Is paid. They also Insist that the dove
. rights OF their wives shall be given up.
The CAMPAIGN In Maryland grows NOR
interesting each successive day. At Up
per Marlboro, Prince Georges county, las
week, meeting Of Republicans was held, n
which several Democrats were present. From
the report printed in the South Maryland Re
publican we are led to believe that 1t was Q
decided success. Henry V. Plummer, esq
of Bladensburg, one OF the ablest colored ora
tors in the State, assumed deserved prom
lnence In the discussion. Richard W. W
Bowie, esq, who announced himself to b.
1.-The chosen exponent Of the Democratic party
!, engaged Piummer, and In the course OF his
remarks declared that the Republican party
had wrongfully taken away and were respon'
sible for the loss Of the "negro property OF
the State. In the same breath he declared
that the members OF his party were the best
friends OF the colored race. The inaonsist-
eney Of these declarations was so apparent
that the speaker was interrupted with groans,
signifying the dissent Of his audience from
his Illogical deduction. Plummer took ad-
vantage of the opportunity to expose the
fallacy Of Bowie's position, and subsequently
got into 4 controversy with several oi
the audience regarding the roads, dol
laws, public schools, Sc, &c. We refeI
to this meeting at this time for the purpos'
Of alluding to the fact that 1t marks a new or
In the political affairs of our neighboriul
county. II is, in short, the fret public dis
, cussion Of any prominence held In Princ
|, Georges between men Of the black and whit
, races, and It Is particularly significant, ht
, cause II shows that such men as MIR. Bowi'
who still believe In the right to hold "negr
, property" have so far accepted the dires
| results Of emancipation as to tolerate
!, black man In the position Of public speake
. and political opponent. II must be remem
!. bered In this connection that, counparatiyel
h speaking, the blacks Of Maryland have bu
= recently realized the benefits and privilege
:, of citizenship. To the minds Of reasouabl
men the incident Is fraught with food 70
!, sober reflection. 1t shows not only the tolt
: ration, Of which We have spoken, but en-
1 couraging progress, and 1t Is such prosre'
\. as this that adds strength to the Republica
,r party.
al IT WILL DE SEEN by the announcement
O. our news columns that the Government h
ut been compelled to draw upon and use q
ir legal-tcnder reserve In the Treasury to u
ut amount, In round numbers, Of two-and-a-ha
lie millions of dollars. The explanation Is give
DR. that the necessity for this act arose from Il
e. unexpected falling of of the internal reyen,
rs returns. This falling off may be direct
y traced 10 the stagnation in the produce ma
rs ket, which has seriously affected the mani
re facture Of spirits, as well as transactions
at tobacco. The grain which should now be
DC the hands Of the distillers Is locked up In IL
ID grauaries and gigantic elevators In Il
ly Northwest. As soon US the effects of Il
ie panic, which now seem to be trave
re ing west and south, In the line OF Il
st cpizootic shall have passed, we may rcasol
le ably expect that the receipts by the revenI
W bureau will be doubled. 1t will then becon
es the policy of the Treasury Department, III
oil less Secretary Richardson changes his presel
G. opinion, to call In the reserves thus put on
RS In the meantime, before they can DO callt
he in, Congress will meet when 1t Is certain th'
to the country will be flooded with an ayalanci
e. OF conflicting financial schemes. 1t is NJ
M | ~, ohahIo hnwayer Tint tho raault of IN