The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-10-20
A TRANSPARENT LIE.
The sterv that the Evening Post Set Anoat
about the syndicate.

WASHINGTON, Oct. 19.-The most transpa-
rent OF all the Republican election roortaoks was
the story teleRraphed from here to-day about the
Syndicate having informed the Secretary Of the
Treasury that they would discontinue opera
tions until after the election, and, II Tilden was
elected, until his financial policy was madc
known. 1t would not be possible for the father
OF lies himself to coDcoct greater falsehood
than this story, which the correspondent OF the
New York Evening Post telegraphed from Wash
ineton this afternoon. In the irst place, the
Syndicate have bound them selves to take so
many bonds within a specified time, and they
have not the option to discontinue for time.
They can probably refuse to take moro bonds
tn an their contract calls for, but they bound
to take that amount, and pay for them, and y 10
not likely that they are going to hold them for
any ,enn ol ei & sney nSrg re
not such fools as to deliberately break down the
market.
There Is reason, however, to believe that the
Secretary OF the Treasury was cognizant OF the
setting ahOat OF this oanard by the couespon-
dent Of the Evening Post, because he had q long
interview with tuat correspondent to-day. II II
be true that Secretary Morrill, was party TO this
story he should be held to a strict accountable
itv, because It "a direct effort to break down
the market and thus tnjure the SYNDICATE. The
European bankers who are engaged IN nesotat.
ing our four and half per cent. loan are not
politicians, and will not relish such treatment
from the financial offcer OF the American Gov
Riggs 4 Co. Of this city who look after the iu-
terests OF Morgan & Co. u London, and through
whom all correspondence tn their agent here
came while the Syndicate arrangements were
beng maue, say there Is not one word OF truth
Ia the Evening Post story. ON the contrary Mr..
Rigs, who Is connected nearly with distin-
guisned English diploniatist, and has unusually
good opportunities for obtaining early aud accu-
rate information. says that American securi lies
| are likely to Advance very rapidly In short
time in the Eu. o2ean market. The dancer OF
| a genera European war growing out OF the
| Eastern complications Will make European
| capitalists anxious to invest In American So
| ABLY, and the higher gold Is on this side Of the
Atlantic. the higher the price Of our bonds IN
England Indeed, Mr. Riggs thinks there never
| was finer prospect OF successfully placing a
| four and half per cent American loan In
| Europe than at the present time. rms Is owing
principal Continental powers. OF course. II
EngIand and France were to become In,
be placed upon the market, and would
| be readily taken, perhaps III preference TO
mmetcsn ana %.tT, eSteS w,ud have iul,y in
| borrowing money. France and England hold
the purse strings to day and control the money
market Of the world. At present American Sc;
| cunties are preferred in those two coun ries and
| It Is the declaration Of all weli-infOrmed per-
| sons that IN both France and England the sue
| cess OF the Democratic party would strengthen
| rather than weaken our credit. Ihe tavOfabie
| manner in wuich Iiden's nomination WIS re-
| ceiyed ano commented upon by bOth English
| and French journals has not been forgotten,
| neither h IS tue reception OF his letter OF ac.
|
Sc tier to tnis sensational story, the kotbschids
telegraph THIS evening that there was no
| foundation for IL whatever. Now let MI Nor
| rll stand up and say what part he mad In this
| dissrtcefui business.
LONDON, Oct. I'LL A. M-The Stock Exchange
| this otDtng oDened freer from panicky feel
| ing than yesterday, and most stocks were sngnt-
| ly lrtner. ConsOls were at last nights closing
| IrIce. Russians ana Egi ptians were about per
cent. anu turkish iractionally higher, but Hun
garans were per cent. lower; The absence Of
| definite news mel ely checks sales. There are no
| indications OF a recovery OF confidence.
| $50 L. M.-Ihe London stock market and the
| Continental Doursos closed more settled. Prices
were slightly nrmer. but there was no marked
| recovery,