, 1874-02-08

body IN chafge ut Georgetown, Eno began t
open Dlahch-housoS II pMsimose, Now 1ofl
anu InHaoeipnaa. feaoooy ana Co1cofa
we're nearly OF the same age, "ar
well aGqumnteo' nao Tue saHe pal
lon' ano "hen, IN 1881, feaboay wen
| ~ Ieslue u 4oauon As nead OF tue great nous
ol tcapouy, htggs d 20, Go1eossa 1osmea IN
partnership OF Corcoran 4 Riggs IN the City 0
WasMnston,-tae elder Elgga having retire
o1ehs 5ea1s oelo1e' from tneso cosucIdence
W. eau get 1alI unoefs1snolne OF me 1nnnenc
oI opportunity apon men OF Wlaely elueien = q
osisanI nllu aiso " tne yleor tes1qen1 IN utsi
Po.se Aho ucoleo'o"1' nnlcu, " l nave neate
ar; Corcoran Say, had hFo tunes the enterprise
o. Washington eaty, anu "oulo nave neen ono O.
tno !argest to"n3 N the country ont 1or the peg
version OF lib oestlhg py the Distrlct OF Colum
| DIG. 1.:., c..
Allef tue on!tea otates Dank suspended
house nearly on tue spot where Jay Cooke & Co
recently closed their doors. His buaineas meth
oG, me manners aad appearance, and spirit
only: gained mm TIE respect Of Elisha hgSs, 'she
lueH'saeo most OF tuo eapieai tor his SOILS aud
Colcoran.
AAnarAd2.
The latter, waiting until late in life addressed
tho daughter Of Com. Charles Morris, and, at q
| whisper Of opposition, married hcr,-thc old
gentleman becoming reconclled later along, aatl
ho ded-after tifty-seyon years' service, CT which
twenty tyone wore spent on the sea-iu tho sight OF
his son-in~law. It WEE Morris son rho command
ed the frgate Cumberland, in Hampton Roads,
when s1o fought tho 3lerrimao until she aank !;
ind he is still living near his brorher-in-law
having married tue daughter Of Frank Steele. OF
Georgetown, OF whom have seen Some mention
recently i'll connection with the Fort Smelling
land grab. The elder Morris bust Is in the Cor
eoran Art-Gallsry.
Here NC mny rema1k how moro generously
wealth is distributed in the lands Of men to
whom opportunity is extended for their skill or
talent, than by tho original gatherers OF it, The
Potomac, hka dona nothing to Iberalizo its na-
tive region; while the sons Of strangers, Like
Corcoran and Peabody, make millions consent
to SEQ rich men thrive and spread their benefac-
tons from Washington to London.
RICHER.
The house OF Corcoran Riggs
obtained its great opportunity At the
outbreak OF tie Mexican War, by
the intimacy between Robert j. Walker, Secre-
tary Of the Treasury, and Mr. Corcoran, ,-rcceiT-
ing the Government loans to negotiate, taking
tue bonds, and, as some say, given liberal TINA
to make payments upon them, Or time enough
for Mr.. Corcoran to proceed to Europe and sell
the bonds, aad return with the money Plus his
profit. How much money WAS made at that Pc
Tlod by the house, we eau only guess at. De-
tween 1876 and 1919, tho Government debt in
creased about $48, 900, 600. Mr.. Riggs once told
me thai, prior to the Rebellion, their house had
all the Government loans. At any rate, the op-
portunl:y made these bankers important, aud
luctlpg his business Epou the largest SCALE
Had tho time might instiruke
4 coMrAR1sox
9e."eeA LILO .ouaea " Lo1coian q nAsss hnu
1ay Cookc = 20, "hlch are Within 6.sht OF
each other in this city. Mr. Cooke lad such an
opportunity as tho world seldom attords .
banker.-i'l:mitabIy graodor than tlo Roths
childs when their erca. opportunity W. pre-
] fortune, ~ Il staryo1ins @ @ creditors % is
essSea esn9 Oh to s oy ahs ho Tn onso ess @
eeonced n tue old unted states BaSch BaaR
pau sssly enea ] eaaua eaets
ooIs ooo.6 "ete c1oseo' aoo opta1nea tue oulk
Of their bnsiness.
Was it in the men? Was it not in tho system
of gold and paper which proyailed2 ALI
copconaS's LOANS
'oe1' "e1o m1a1 9i"t''
.sa .oalis s.e a.soe a1 ~ LIVES. nu.n
"a1a we've SUCCESSFUL, and me country thereafter
unusually prosperous for about nine years in
each case. But gold-panic is solid ruin. 4
paper-panio ia yagario1.s ruin In times of
pape-.nanic rnen'a heads anf, nr;ncnIas ara W.
pape.psae, n'en a, neaoS @ nno ~ ps'ncaplss ase w.
"a t,,a;p ar,ad;oo y; s,,nn;,1 1o1;+- ,1n.. thas
~ s1eit lcneees ~ laueln putty "nen 'ue5
relief OF their ruin. Can this be better set
forth than in that bullion-book Of Senator Ben
ton as follows:
The {ss11a nj tha ,r with s1exico WAS na dfaast-nua
to the paper-1ouc; party - it was to tbs Nsueans
themselves. The capital was taken In each case, and
the vanquished submitted tn quiet in each case.
Inc VAT S1th Mexico %xs confidently looked % M as
s ~ s T s ~ ,e
sty Of estsbl:sing natioaolnaper currency TLcse
who had asserted The inaacqracy of nj tho gold and
silver in the world to do the business Of tho United
States we're quito snre OF tho Of the pre-
cI9us met:a TO carry On ioregn war IN aocltlon 10
81 aanIa uso on tha soHd c,rrencv W. we're M. m fsit
in it's dimiurtion at iorpes Goytrn.
ment bills were ADORE pari and svery
loun taken .: premium !-and only ob.7ined upon
hard competition! Tho last loan authorized
tTner ot lsi.oas1, of SIC ooo brought premium
o1 9 anu ene on e NO
~ = thts ensnric rcsns NY tbo VA az
Of isia, duzins ;s,ch tho Federal Government WAS
msnatesnt az loans and paid or suffered loss Of
currency will stand vndtcated upon the tes. Of sar
ws noon 81 t
h,sI anS fo,'nd thu has.a to e ps ANNA
as sold. payn,en:s were recpEr and real:
and, at the return Of peacc, every public security
above rar, tho national cocro full Of gold: and
the Government. having the hand. aud