Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1875-08-27
rErom the Chicago Tribune.l

IHc brooklyn Union uiSCioscS Tue Cou-
tents of one page in the history of Dun
can, Sherman & Co. (which ought 10 be
very generally known. Hitherto The re-
publican party has had to suffer very ma
terially from the collapsng of banks which
have been managed by republican direc-
tors, or have been favorable to the Adj
ministraiion, or which during the war
held loyal position and supplied funds
tor its vigorous prosecution. When the
Freedman's Bank went down, and when
Jay Cooke & Co. and Henry Clews & Co.
collapsed, the democratic press of this
country improved the opportunity, not so
much to denouncc their reckless method
of financiering, as to influence the public
mind against republican rule and political
tuanciering. The wild gambling and
speculation, the accumulation of rotteu
securities. the investment in all sorts of
balloon schemes, and the consequent col
lapses which inevitably follow this system
of banking. which is only another form of
gambling, were credited to the influence
of the republican party, because the man
ayers of these banks happened to be re-
publicans or were loyal during the war
These same papers, however, since the
failure of Duncan, Sherman 4 Co., have
been strangely silent. We have not
learned from them that their fall is due to
the corrupting and demoralziag effects
of republicanism. They have omitted to
charge the losses of depositors and eusto-
mers to the Administration. They preach
none of their customary sermons on the
frauds and corruptions of the republican
party, not even word on Grantism.
The Brooklyn Union explains the reason
why they have failed to take any partisan
advantage OF this failure. 1t appears that
the house of Duncan, Sherman Il Co. has
never had republican proclivitics since the
war, and that it had no Union proclivities
| during the war. They were cotton-spec-
ulators, then as they have been since, and
their sympathies were with cotton. and,
| this being the direction of their sympa-
| thies, their interests were with the South
| and with English hostility to the North,
| for where the treasure is there will the
heart be also. They bulled Southern Sc
curties in Europe, and backed blockade
running. They were the agents of the
"Society for the Diffusion of Political
knowledge in the Army" During Nc.
Clellan's command of the army of the
Potomac, they sent down to it issues Of
the World and the Philadelphia Age by
tons, also packages of tracts and tobacco
for free distribution. the wrappers being
neatly printed with peace and cotton mes
| sages This copperhead missionary work
was carried on to such an extent that at
last it began to demoralize the troops. and
the Government was compelled to step in
and stop the nefarious business by
special army order. They not only
| never touched an American bond dur
ing the war, but they used their in
fluence in Europe against them. This
is the politico-financial record of Dun
| can, Sherman & Co., and these are
the reasons why the democratic newspa-
pers have failed to preach their customary
| sermon upon the enormity of political
banking and its corrupt and demoralizing
tendencies. At the same time it is per-
iectly consistent to ask, if the failure Of
Jaw Cooke & Co. is to be credited to the
repub lican party, why should not the fail
ure of Duncan, Sherman & Co. be credit
ed to the democratic party?