, 1874-05-31

| veution WIS not large enough to go around.
! Irwin WAS beaten again. and compeilea 10 neaf
| the suggestive taunt:
s'NoW, you can: be exrecting to carry
! $500 GOD wear out OF the Treasury for ton
| years without spending at least year's ALLOW
| ance. Less than that il too mean to talk
about" . ..
| Thur. Won SEQ, the buBness-clerk apprehends
| the appArent fact thnt there il
NO WAY orES BETWEEN BRIBERY AND SUCCESS.
| His reputation il involved in the former; his
! ability aud MISUNDERSTANDING in the latter. lie
at once took measures to drive the subsidy
through The snme Congress which had just re-
jected it, aud demanded Of the Company
| pcruusson to draw ut will OIL them for
cash, subject to no inquiry at their
hands, present or prospective. as to
what he should do With the funds. In consent
ing to this proposition, the Pacific Mail Coul-
panv dishouored itself, aud its Directors wero
morally responsible for the general bribery
which ensucd.
The spectacle WAS forthwith presented Of q
Cougress which had just refused to vote al i'll
and stult!fying itself. A Cleveland attorney,
then holding minor Office i'll part Of tho Capt.
toI, enlisted Senator Johu Sherman ln the work
The bill was reported, aud It passed.
Some hoDoraplo members, others with motives
less honorable, demanded HI investigation; put
the alarm Of Cougross w2s manifest. IAe
agents aud attorneys scattered. The Ways and
Means Committee maize slight ana lnelu-
cleut Investigation, and dismissed the suo]cct.
In due time Stockwel came to the end OF his
rope, becamo bankrupt, and repaired to Europe
IIere also hid the chief agent and hIs usso-
cietes A new Board Of Directors aud prcsi-
dent took charge of the Pacific Ma'l and eAan-
incd tue books They found 5Gu0,0D to the ac-
count Of r. i. irwin, without value received. The
stock Of the Company was down, aud Its credit
poof 1ta deet was depleted and its organizes
tion denlorRized. Another Congress had come
into power aud the air was full Of rurnors of III
l71,t hriha
from former Congress- vas withheld by the
Treasury. because, Oh tight mouey-market
and in time Of panic, the shlp-huliders had
been uuabso to obtain funds to push the snlPs
forward mud launch them in tho specified period.
The subsidy hal legally lapsed. The
tho period. bribery, Intrigue, personal
dishonor, and corporate rapacity, had secom-
plished
NOTHING BUT WASTE AND DEFEAT
The new Directory claim tint Irwin made over
to relative one-haif the whole sum Ao drew
from tho Company. II this be true, it was what
they deserved aud might expect. 70 send
man upon dishonorAble task Il to invite him to
provide for what remains Of e1istenso,-6Fead,
homestead. competence. Irwin has denied that
he appropriated to himself any OF this fund, aud
his word Is OF more responsibility than the Pa
cltic Mails books.
Meantime an English Steamship Company has
nut on rival tine between Hong Kong and San
Francisco, carrying of the profits, running
cheaplY ut freetrade prsces for ships and stores.
and, by connecting with the Royal Mail line and
the peninsulnr l. Oriental, encompasslng the
world. They draw track from Southampton to
Lisbon, lilo, the Straits Of Magellan, Panama,
San Francisco, Yokohama, Hong Kong. the
Straits Of Sumatra, Calcutta, the lied Sea, Saez,
aud Southampton again, with West India con-
nection, aud detecting line around the Cape Of
Good Hope. Does Subsidy subsidizo2 Does
Protection protects
What now il to become Of the Pacific Mail
Company? Some say it will withdraw from the
tieid, aud, Like the Collins steamers, show its
hulls Dlisteriug in the drydocks OF Southampton.
Others cling desperately to the hope that Con-
greEa will ye. extend the subsidy. And others
advice it 10 look to sea, sail out OF tho lobby.
sop caut and Etock-salnbGng, aud be thrifty,
clasteued. economical corporation. GATH.