Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-10-15
The k3tg Rubbfe BHrsts--.7he
.vOrfleS.M Pacific Fraud.

~ OEtVCSN k~uGtUC EIUut0.
Could full, ,truoand particular history
bo given OF Jay Cvoko's bubble, blow
ing during the last four years, In con
ncction with the Northern Paci6c, it
would furnish one Of tho most curious
episodes ID commercial annals. We
shall first have the lobbying at Wash
ington, tho dinners tu members Of
Congress and representatives of the
press, with not impossibly other more
substantial Inducements 10 tho more
important members Of the company !;
preliminarios all tending up TO the
land grant from Congress. The pro-
curing that land grant, a territory as
big as Belgium, was no easy task. A
deal of manipulation with tonder-con-
scicnccd Congressman IL demanded,
but Notwithstanding bitter opposi-
ton TO the last on tho part Of few,
who perhaps struck for higher wages,
it was found impossible TO mako a
successful stand against the great Ad-
minislration banker. So the bill pass
cd Congress, but tho President was
said to hesitate, Strong representa-
tions were reported to have been made
to him against the grant and "grcat
pressure" put upon him to prevent his
assent TO it, but tho President who
hcsitatcs is lost The potent persua-
sions of "Financial Agent" Cooke pro
vailed and won the battle. And now
let tho victims of the swindle contrast
the limo Of conduct pursued in this
matter by Wasbingtons successor and
by the Emperor OF Germany. When
the passing Of tho Northern Pacific
began to be disseminated throughout
the Fathcrland, His Majesty'S govern
ment dispatched to this country n
commission composed Of gentlemen
cminently qualified to arrive at
sound judgment in reference TO the
scheme. They went to the alleged
paradise beyond Duluth, and with the
proyerbial pains.taking accuracy OF
their race, sot to work TO examine into
the real facts Of the case. Tho result
was q report--not alluded to in Messrs
Jay Cooke & Co.'s advcrtiscments--in
which they give tho most powerful
reasons why the project could not be
n success, and they prevented thous-
ands of poor Germans from being
ruined.
President Grant could have done
the same thing much more easily, but
/ he preferred the less troublesome
course of signing his consent to tho
bill, and the men and women ruined
to day by the failure of Jay Cooke &
Co. may consider themselves as not n
little indebted TO the President Of tho
United States; for bad be done his
duty, the extravagant scheme OF Jay
Cooke could never have been at
tempted
But still further difficulties had to
be encountered There is certain |
newspaper published in London called
the Times 1t has its faults, but
want Of good faith in commercial mat
ters has never boen regarded MS one
of them. Indeed, it may fairly be
said that it is not worth the while OF |
IT, T,n,8s Ia ko d;ab,uaot fN. 20 oalts l
5 s"o ', .s ";,,L, rs. ~, ,.o,,n,a,;o,' ,v' = ' a,
"au "o,r ,,as,.;"t nas 5.nt;r, NJ ,hn Taacs
~ So'n ~, sm laoJ "a pL;IaSo oi,h;a
and in the summer Of 1879 that gen.
tleman began TO occasion the great
and good Mr.. Jay Cookc--who 10 o
p'"a. pa,, ~ ."o np.s.oP"' cnur9", ""u
mou.u w '"'"e' wa" olo"u nea'o,'
" 'aso a.h ''.,y auu"y ~, rus'a',sou,sn' i.ns.
-, .um % ~ ',,, aaouV.e ";s ',ov"svn ',s,'';
,I 1". ''o" .,",.S "Hu,u s.s'si % :" uee,"',ns
N"a,t. NJ s"s pS p.a,as o "'." Wy Wy
no,t"enn ,, '.,,..;,i.. aeuI m"a apo.. :" IL"
'',. We o"m's - ~ Ias', ."as s"v p,u
NJ. ~ .'Sr ~a' ~ M ~ I Ind;ons ~ a,rn ~
80, t"e y ~" oa, w. ,;lo,a 80 oran n
anoaea;n.. - ~ ;oa3.maa;on, ~; ,,thors
NrsI;sy ~ 80 ~ - ;,,os,;n 49,. nj,
~ nnhTn ~aod ;,s gysrs' anJ hsl;oroo
;n u ,hosa shanos,i alIaaa,;ons had
- ~ " ~ '",S ",o.saa ans nno5 ~ 49, 49,
~ ~ n,;sbld Ip,' M"u.,, @ o o,,,,t"', nv "n5
Al, a. !, \, 80 -. 'te,a.I,.
managed in different way IL was
stated as positive fact 10 n gentle.
man of unimpeacbable integrity whose
biyb character was well known 10 the
nagers Of The yreat London journal
that these statements on The mart Of
the philadelnhia correspondent we're
nero personal spite. Rcasons wore
alleged why this should be so. 1t was
asserted that he was closely connected
with great rivuI interest, and that in
throwing dirt on tho splendid enter
prise of jay Cooke 4 Co he was mere.
" serving The cncmy's turn. Unior.
tunately, the gentleman alluded to
was induced to believe these state
ments and renorted his belief in them
to those who controlled the papcrand
the cruel exposures of the pniladcl.
pbia rcspondent--who had written
somc admirably punpcnt and logical
letters on the subject-ceased 10 ar-