Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1875-08-27
THE GREATFAuURE.

THE GREAT FAILURE.
One not in the secret of business
arrangements, and not entirely con-
versant with business morality,
would really feel very sorry at the
failure of banker or merchant, par
ticularly if the said banker or mer-
chant has long enjoyed the conf
dence of his fellows. In imagina-
ton we picture the man waking UP
some morning and finding himself
unable to meet his engagements, and
we fancy the anguish that tears him
almost limb from limb. Then comes
the sheriff, the eviction, the giving
up of the grand mansion, the taking
of humble rooms, the -humiliating
search for employment, and all that
sort of thing. That used to be the
programme some years ago, but it
isn't now. Duncan, Sherman &
Co. failed a few weeks ago, but
there wasn't any anguish about it.
They proceeded deliberately to
shove out all the letters of credit
they could; they put acceptances on
the market wherever it was possible;
thev gathered in all the deposits
they could; they turned over all
their real estate to their fathers and
wives, and then in the coolest and
most dignified manner possible they
announced their ''inability to meet
their engagements" and each mem
Der of the firm retired to his country
seat. There are hundreds of ruined
men who had their all in the hands
of these sharks, but that dosen't dis
turb the serenity of Duncan, Sher-
man, or the Company. Mr.. Duncan
has the grandest palace on Staten
Island. His magnificent mansion
stands in the centre of forty acres;
and within that mansion there is
silver-plate and furniture enough to
buy county in the West. The
richest Conservatives, the most de-
lightful grounds, an array of SER
wants, horses and carriages without
number, all these things Mr.. Duncan
has always enjoyed and always will.
If you should suggest to him that
his place ought to be turned over
to the benefit of his creditors, Mr..
Duncan would laugh in your face.
That isn't the way they do it. He
has an income. fixed and secured,
enough to keep up the establishment
in the same hospitable manner that
has always distinguished it.
How did they fail? Easy enough.
Their own money safely put away,
they took that of the other people
who placed it in their hands and
speculate with it. Their specula-
tions resulted adversely, and they
went under. And, would you have
believed it, there is but one news
paper in New York that has dared
to characterize this thing as a vii
.lainy-only one. On the contrary,
they all expressed sympathy for the
firm! There is little temptation to an
honest life when the rogue gets all
sympathy. If swindled depositors
would occasionally hang a scoun-
drelly banker, it would have an ex-
cellent moral effect on the business.
JOHN MoRRIseY.
The pugilist, gambler and leader
of Democracy, don't propose to be
killed as easily as Kelly and the
other Tammanyites would wish. The
fact is, John is stronger than Tam
many. He has an immense follow
ing of the lower classes of Irish and
Americans, and he can control more
caucusses than any man in the city.
With this strength at his back,
John objects to being counted as a
man of no account. He wants his
say in matters; he wants his share
of the offices; he wants his dip in
the Treasury; in Short, the short
haired John wants to be a leader OF
Democracy. So when Tammany
struck him, be struck back, and Tam.
many was astonished at the force of
the blow. AS the Democracy was
very likely to split, there is a re-
mote possibility that the Republi-
cans may get control of the city at
the next election. 1 say remote,
for somehow the many factions of
the Democracy have a trick of COM
ing together when the spoils are in
danger. But let US hope that their
angry passions may be aroused suf-
ficiently to enable the decency of
the city to have a show.
POLITICS AND BUSINESS.
The city takes a very lively inter.
erst in the Ohio election, because OF
the peculiar position of the parties
The stand the Democracy have ta-
ken for initiation have awakened the
feeling here against the party that
finds very free expression. The
best Democrats here pray fer the de-
feat of Allen and his rag-money.-
New York is suffering more from
the general depression in business
than any of the cities, and they all
know that initiation would be TEN.
porary relief, but they know also
that settling day must come sooner
or later, and as they are part way to
it, they prefer to hold on till it i;
here. What they want is something
settled and fixed. The merchants
now go to bed with 100000 il
goods-he wakes up finds the de
cline in gold has knocked off pei
cent, which of itself is a profit
True, rise helps them, but as he is
a merchant and not a broker, hC
does not want his trade affected by
cause which he neither understand
or can in any way control. If the
business men of New York had theil
way Allen would be beaten by 100,
600 majority.
THE HOSPITAL BARGE OF ST. JoHN'I
| GUILD.
Mention was made last year in thest
letters of the excursions of sick chill
dren, sent out by the active and wise
charity of this noble association
Thousands of ailing infants anC
their mothers twice week went ou
in the bay in the steamer chartered
by the Guild, and the days spent ii
cool pure air, away from the fetid
stifin gdens they inhabit, were tn,