Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1875-11-10

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Wall street bankers and brokers,
warning them of the fatal financial
consequences that would result from
the election Of Horace Greeley. As q
leading operator in the fraudulent
bonds which Bullock in Georgia and
the carpet-bag ring in South Carolina
Ind saddled on the people of those
States, and as daring speculator in
all sorts of fancy shares, there was no
man whose financial and political opin-
ions carried greater weight than those
of Henry Clews. His weekly circulars
were consulted as oracles by oil who
dabbled in stocks. lie and his associ-
ates gave no reason for their belief in
the fatal consequences Of the election
OF Greeley for no reasons were needed
The simple words of a solid financier
who controlled millions was considered
sufficient. But to confound this finan-
cialprophet one ofthe first houses tocol.
lapse in the panic which succeeded the
election Of Grant was that OF Henry
Clews & Co.
In October, 1872, just about the
time when Henry Clews was making
such extraordinary exertions for the
election of Grant, and lending the Re
publican politicians the weight of his
great financial reputation, his banking
house was made the fiscal agency of the
United States government in London
The house Of the Barings, who had con.
Quoted his agency with most scrupu.
lous honesty and care for half cen
tury, was removed. What makes the
agency peculiarly desirable is that 1t
annually disburses about fifteen mill.
ions of dollars for the foreign service
Of the government. When Clews
Habicht 4 Co., of London, failed the
loss of the government was two hun
dred thousand dollars.
When this agency was conferred on
Henry Clews 4 Co., it was generally
regarded as the reward of important
political services, but il now appears
that other considerations besides graf.
itudc were involved in the transaction.
Mr.. Benjamin IL. Chcever, notorious
Washington lobbyist, has presented to
the register in bankruptcy in New
York, against the assignee Of the bro
ken house claim of sl50,00O as
his share of the profits of the London
agency. The partners were Clews,
Cheever, Habicht and mysterious
parsonage named Van Burcn. Cheevers'
duty was to talk up the financial
soundness of the firm of Henry Clews
4 Co, to cabinet ministers and mem.
bers Of Congress, and to slander the
credit Of any who might be
suspected of rivalry. According 10
his own account he lobbied the case
with great industry holding CONVEX
sation with all the Republican polti.
tons in Washington who might have
influence in promoting the job. But
the most important person with whom
he talked was Judge Louis Dent, a
brother-in-law of the President and an
inhabitant of thc White House. This
seems to have settled the business, for
which Dent was to receive one-eighth
of the profits. Before there was an
opportunity to share many dividends
in this rich government bonanza the
craslr of 1873 came, and the firm of
Clews, Chever, Dent, Habicht, Van
Burcn 4 Co., were among the first to
collapse, leaving the treasury at Wash
ington minus about two hundred
thousand dollars.
This affair is in perfect consistency
with what has already reached the
public concerning the connection Of the
White House with other scandalous
transactions in Washington since its
occupation by Grant 1t is in keeping
with the Black Friday scandal and
helps to explain the relations Of Grant
with Shepherd and Delano. The
transaction reveals the thorough rot.
tenness which prevadcs official life
under this administration. An import
ant fiscal agency Of tho government is
made an object of barter and sale, in
which q banking house Of by no means
well established credit secures the
profitable position by giving brother
in-law of the President onc-cighth of
The earnings. This Cbeevcr- Dent OPP
GRAFTON will no doubt undergo a search
ing investigation by Congress when o
scandal Of more than ordinary magni.
tude even for Washington will be re-
vcalcd Patriot. iar.- Il. .8