The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-06-22

WASHINGTON, juno II, 1870
Tho House went into Committee OF the Whole (Mr.
Blackburn OF Kentucky in The chair, the sundry
Civil Appropriation bill
THE FREEDMAN's BANK
Mr.. SrESGRR, (dem.) Of Pa addressed tho committee
IN reference TO the Freedmans Savings and Trust
Company. He gave q history OF tho RISE decline and
fall OF that institution, rejecting severely var
GUS officers. ana the Finance Committee He
charged that Henry D. Cooke, William s Huntington
and the other three members Of the Finance Commit
tee and the two actuarics Eaton and Stckney inside
Of the bank and Alexander r. Shepherd, Hallctt XII
bourne J. v. w. yandenburgh and Others outside OF
it, had formed ring. by which, ut various
times and In various ways money was procured from
the bank worthless insufficient security no
security at ALL TO be used divers enterprises and
speculations by members OF the ring He described
the class OF persons whose victims the freedmen had
been class governed by mock philanthropy, and
whose conduct lad been marked by the viest hypoc-
risy. They made broad their phyactercs, prayed at
the street and thanked God that they
other They had ''stoIen tho livery OF Heaven
TO serve the Devil in" They gone to the freed
men with words Of promise and hope and encourage
ment upon their lips, but with consuming greed aud
avarice IN their hearts They had borne these help
less and ignorant people procrs Of help whilst thor
minds busily engaged 10 schemes to rob them
They had solicited their confidence friends whilst
they had boon devsing ways and means to plumber
them OF their hard earnings. They had assumed tho
garb Of teachers whilst their only mission had been
the teachings Of Christ in their mouths whilst their
chief ambition bad been 70 be Of tho class OF
POLITICAL cARPET-EAGcERs.
abnorred Of all decent oil the class OF money
changers whom Christ drove mcrcilcssly from The
Temple. Toward them tue good people OF the South,
and Of the North as well, entertained an uncompromis-
Ing and undying hatred, and could extend charity
toward such human vulturcs II into the clutches
or such people that The uneducatcd helpless but con
Ading freedmen ielL Their confidence had been re.
to such extent that in the nine years OF the
banks existenc IT'S deposits amcsnted to $685. 600
the vast buIK OF which money had been sAit TO the
principal Office at Washington. The whole South had
been drained Of its money, and II had gone into
washington once. Tho total liabilities Of tue
bank the 3lst Of December, 1875 were
$3,o0as15, Of when the amount due the coored de-
postors 81 g92 033 On this q dividend Of twenty
per had been declared. aud when IL paid there
would stl remain duo 81 1885 10 be pa out Of the
OF the freedmen could fall below $l,5o0,000, and he
thought u more likely they would suffer 10
the extent Of 5000 ooo In conclusion he said
the freedman longer regards the Washing
ton Ring Q myth To him Its existence is
stern, solemn, sad TACT i has cast great shadow
his home and life. II has disspated the earnings
and SAVINGS Of wcarsome days l, has given him
10 many nights Of unrest IL has doomed
pcnury want suffering and deep distress bis loved
ones II has driven hope IRON bis heart, undermined
his confidence IN men and shaken hts faith IN God
Some there are who lattencd upon
rREEpxEv's SAVINGS
for time and are now from The shrukage Of their In
vcstmets) total bankrupts IN fortune But these are
exceptional cases. Most Of them have large posses
SOMA A see them reveling the lap Of luxury, a.
] witness the investment ~ their III gotten In
magnificent BUSINESS houses and palaai
dcnces along these beautiful strects hear Of them
by tho power OF their wealth and soc 81 influence,
packing and debauching iurcs controlling cour and
Substituting newspapers listen 10 the story oil their
nearness 10 him VINO executes the laws Tor this great
ircc people and then turn my eyes upon the poor
freedman ragged. hungry, suffering, wrctched, rob
bed whose money has been nlched from MN by these
very people. wonder whether oil these things will not
day ''shrink away from them also.
Mr. COOK. faem or GA addressed the House on tho
subject OF grievances In the Southern States and In ad
vocacy OF tho rounding OF the cotton tax.
SILVER CURRENCY.
message from the senate having announced the
Silver bill. the consideration VI the Sundry CIVIL bill
temporarily Interrupted, and Mr.. Cox, OF New
YORK, moved concurrence IN the senate amendments.
Mr. RANDALL, (dem.) OF Pa, suggested that as this
was question involving The currency. and as the
change OF word lone OF the amendments being 10
strike out the word now sometimes very scri-
legislation, tho matter should 60 over ti TO-
morrow
Mr. Cox consented n It's postponcmenL
Mr. Cox insisted that he hal moved abe previous
question
Tho SPEAKER pro tim. (Mr. Holman, OF Indiana IN
the chair) did motion for previous
question but did recognize Mr. audcrs who declined
10 yield the floor for possponenenk
sorr MONEY.
Mr. LAxDERs proceeded 70 argue against tho second