The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-15
THE GREENBACK PRINTING.
4 PROFITA JOB FOR THE RING
BINK NOTE COMPINY.
Letting In Prominent Democrats with tho
Hope of Retaining the Contrnct-A Raid
10 be Mnde ON the Incoming ConRfess.


Hope Of Retaining the Contrnct-A Raid
to be Made on the Incoming Congress.
WASHINGTON, Nov. 1.-two years ago
the Colum blan Bank Note Company ofthis city
was q weak and tottetng concern, without any
capital, and wretchedly supplied with machinery
necessary for carrying on the engraving md
printing business. About that time few lobby
lists. jobbers, and District Ring contractors con-
ceived the idea OF obtaining from the Govern
ment contract for engraving aud printing the |
backs OF certain denominations Of the Treasury |
notes and the faces OF certain OF the fractional
currency notes. The notorious +. a. SAWYER |
was then Assistant Secretary OF the Treasury
and was willing for consideration to do any
thing required of him by the District Ring OF
any other combination OF rogues.
John o. Evans Boss Shepherds favorite con-
tractor, a fellow named V.n Duskirk. who had
formerly been in the Sixth Auditors ONCE and
had manseed to save n great deal OF money on
very moderate salary, In conjunction with one
or two others, undertook to resuscltate the
practically bankrupt Columbian Bank Note
Company. They entered into an agreement
with the then Officers Of the concern that
they would obtain the contract for tho
work above referred to from the Gov
eminent, and provide the means to
throuehly equip the establishment with tho
necessary machinery md material, md In return
therefore they were to have O majority OF the
stock and were to be repaid with interest the
money advanced out OF the arst moneys re-
| ceived from the Government on the contract.
A corruption fund OF sa0,CcO was deposited with
r. p. Stanton, we'll known lawyer Of this city.
| not to be used by hiu but to br held subject TO
| the order of the manipulators OF this job.
| The contract was obtained, SAWYER. then act
ing Secretary OF the Treasury, directing " TO be
| made against the protest Of Geo. B. NcCartee,
| the Superintendent OF the Bureau OF Engraving
| aud Printing OF the Treasury Department he
| price NJ which this work was let was so much IN
excess OF what II could he done for by the bureau
| Of Engraving and Printing that Mr. McCaree
prui iested against 1t as an Outrage and swim lie,
| but he was powerless to prevent the accom-:
plishment OF the wrong The profits realized
| oy the bank note c0mp. ny were enormous, .s ana
| two stoCkh FOLDERS, one OF whom was an oniccr
| ~ the concern, Informed me that slniy per cent
| In dividends were distributed during the nrst
The New York bank note companies were
| doing portion Of tue work which was 0iven TO
| Columbian Of this city, and OF course they were
euraged A. the success Of this rival, which, for
merlv desplsed by them, had UNEXPECTEDLY
proved most formidable competitor. They
determined To crush II out, and accordingly an
Investigation by the Bank ing and Currency Com
| dered through the Efforts of the New York COM
time. and the fact OF the existence OF the cor
rupuOn fund above spoken of, and the use oi u,
put nothing more' "ss di,Ciosgd, IN retsia- ,na
nishcd from the treasury Department With the
corr spondence belw en- the secretary OF the
| Treasury of the Confederate States and one oi
the New York bank note companies In regard
TO printing the rag money ~ the Conlederacy.
The New York computes finding that the
nrnminent members Of the District Ring. and
backed by Boss Shepherd. owned the Treasury
Department, and was altogether too strong to
be fought, proposed a compromise. which the
man gers OF the Columbian, on account OF that
TO accept An alliance offensive and defensive
was made and last winter the comoined power
OF the New York companies and OF the District
Ring concern was brought TO bear on Congress
10 force that body to break up the engraving
ment men and pass a law directing the Secretary Of
the Treasury to parcel out the work OF printing
notes. fractional currency, and internal revenue
stamps among these private establishments
strenuous Efforts of Secretary Brlstow aud tue
honest members Of the House OF Representa-
tiNes.
l. st sprlne the Columbian Bank Note Com
| pany, 10 order to get itself IN proper shane Tor
the winters campaign, was again rcorSan,zed'
| The capital stock was increased, ana the Hon.
Montgomery Blair ana the Hon. " ii. Phillip
were taken In as repfesentatVe Democrats lhe
| building In which the fices and WORK rooms OF
the comp ny were established was owned by
Boss Shepherd 1t was MOI worth, according TO
the estimate placed upon IL by such experienced
men as Thomas Berry end Matthew q II, more
tnan tsOOOo It wAs, however, purchases by the
Bank Note Company for $1,000, his trdnsac-
| ton was opposed by the former Secretary Of the
company, Ar. wellstoOd, and by +. 7. ST tnton,
neT Of the concern The opposition OF these
two gentlemen was futile and the purchase w4s
made.
g., so for his professional services In conducting
Inc defence OF the company Ia the INVESTIGATION
Of 1884 was informed that the bill would not
be paid, and that he was not in anv sense OF the
term the attorney for the company. Thoreupon
Mr.. stanton desired to know whether the
Hnicers OF the COMPANY CONSIDERED that the re-
, laiinns VI counsel and client ever existed be-
tween the company and himself, am at tho
same time warned them that ne would AT once
institute sui to recover his fee. Tlls brought
the ficers Of the COMPANY to realizing sense
Of wnat might occur In the event OF suit. and
Mr. Stantons fee was not only paid but his
! stock Was purchased at large advance on its
. | nominal value.
A. the time OF this Last organization. when
Blair and Phillip were taken in, the Hon. W. W
| Corcoran was solicited to take some OF the
stock and as an inducemant was<issuTed that II
! | w iuld pay even with this Increased capital
: tw. nty per cent. dividends. MIR. Corcurar
/ | promptly rejected the proposition aud said that
. | no amount of money could compensate for the
b | loss of character ne must sun 7 by assocatiur
. | with such men as Boss shepherd, John q. Evans
q | anu others OF that Tx that made up the Colum
ban Bank Note Company. IL Is well known
that Secretary Bristow will recommend In his
| forthcoming report the revocation OF the con
0 | tracts with the various bank note companie,
aud insist that every consideration OF economy
| and security demand that the Government sh.l
lone print all Its securities, notes and stamps
| II is also well known that the House OF Repre-
| sentatives will investigate not only the mhkinl
OF the contract with the Columbian Companl
but those heretofore made with tho New y ori
these people that the Democratic House shoulS
be organized, II not In their favor, at least so
. not to be hostile to them. Accordingly all thei
strikers are gathering here to take hand In thi