New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-03-27
THE DISTRICT REAL ESTATE POOL.


opinion that "no man in public life dare stand
1.-THE abuse which is now visited upon those
"who merely obey a national instinct and
"plaft stake in the Federal District" and
that on that account commercial prudence"
required the trustee of the real estate pool
in the District to withhold the names of the
parties to the pool until such time AZ the
"peOple have more charity and the press more
"decency,n spoke The sentiments of number
of public men who honestly believe
that they are in danger of being deeply
wrOnged. These gentlemen entered into the
pool with the purpose OF turning their op-
portunties to the best account and making a
little money. We can readily believe that
they did not intend to do anything dishonest
or take any unfair advantage. The chance to
buy real estate ut very low valuation, with
the absolute assurance that in the course OF
the contemplated improvements in the District
it would rise rapidly on their hands, was
great temptation. The processes of their
reasoning are by no means difficult to guess.
They are as old as the world and as easy as
SHINING. Somebody must make money out
" of this' they said, "and why not i am
confident in my own integrity, and know l
shall not be led into using my Official posi-
" ton IN any way for personal gain. Other
" men speculate and take advantage of their
opportunities and their information, and there
:" is no harm in it why may not IF
Let whoever is disposed to judge these men
harshly for being parties to real estate pool
put himself in the same place before the same
temptation The beginning of it was easy and
smooth AS in the Credit Mobilier transac-
tons, there was no evil purpose on the sur
face; nothing but the allurement of large
profits and assured success, with no sacrifice
of principle nor any cOrrupting complication.
They had only to invest their money, ask no
questions, and draw the dividends. Doubtless
they promised themselves when they entered
into the speculation, if they allowed them
selves to scruple at all as to the effect OF their
action, that they would not allow their personal
and pecuniary interests to influence or embarrass
their official action. That is always the way.
The number who enter into such schemes as
this seems to have BEEN with deliberately
dishonest purpose, we believe is small We
should be sorry to think that any number OF
persons holding high official positions would
with their eyes open engage In scheme 10
defraud the Government. 1t is moral weakness
rather than criminal intent that has led so
many public men into situations in which their
characters have been compromised. 1t is not
unnatural that they should feel that they are
hardly dealt with when investigation follows
them, their motives are aspcrsed, and no con-
sideration is shown them. They do honestly
believe that there is no charity in the people,
and no decency in the press, that render such
harsh judgments.
Al. OK Il. 1oltn xra1
themselves the victims of cruel wrong. Some
of them reprOachcd the press with its injustice,
and flung back dennnciation in the face of tho
popular sentiment that condemned them. But
there was just this weak point, fatally weak,
in their case, and it appears again in the case
of the "rea estate pOOl.n They shrank from
the light. They avoided investigation. lodged
inquiry, shifted evaded, prevarcated, and III
some instances lied, to conceal their connection
with the transactions. There was the confcs-
sion, which no explanation could soften, no
denial of wrong intent or assertion of honesty
of purpose and purity of motive remove. Had
the Credit Mobilier spectators openly ac-
knowledged their holding OF the stock when
they received it, there would have been
little scandal. Had they confessed it,
instead of being discovered after the process
of investigation, they would have been less
harshly judged The participators in the
real estate pOoln have in the same way con-
fessed that the scheme in which they were
engaged was to put 1t very mildly, OF ques-
| tionable character. 1t is idle to talk, at this
stage of the proceedings, of the uncharitable
ness of the public or the indecency of the
press. The real estate pool was a corrupt and
dishonest speculation. Its object was to make
the General Government pay for improve
ments upon the property of these purchasers,
and to take money out of the National Treasury
| more shamelessly and dishonesty than by the
Salary Grab or any other of the schemes
| by which the present regime has become
infamous. If the parties to the pool did
not know the purpose of it at the beginning,
they certainly know it now. Ii they have just
discovered it, it is their misfortune. The public
will treat them charitably, and the press de-
Gently, if even now they will go before the
Committee which is trying so hard to discover
them and make themselves known. They pre-
fer to keep concealed behind the trustees and
neither avOw nor explain their connection with
the pool Is it uncharitable or indecent to
charge such men with deliberate design to
swindle the Government
Senator Stewards relations to the pool have
already been disclosed. 1t is sgnifi-
cant comment upon the earnestness and
sincerity with which the party in power
pursues the investigation, that this man,
who upon his own admissions is up to
his neck in tho speculation, holds q place
on the Committee, and was only hindered
from being its chairman by the stubbornness
,lr Of k,u Jhn a