The New York herald., 1876-09-27
rom OUR REGULAR CORRESPONDENT.


Importance. outside OF purely financial wonder,
in being regarded by tho republicans unerring
political barometer 1t is taken for granted that
the avidity with which It Is being taken up Is
sign of success for the republican Presidential ticket
II has called out this logic In admir- nisration circles
Tho foreign bankers and large capitalists Of this
country think, II there could possibly be
change OF administration aud thereby the control Of
ihe financial policy Of tho government should
be transferred 10 tho democratic party,
some unsettling ot our securities might be involved,
and our bonds would consequently not command
such Ready salc has been illustrated the achieve
mont just accomplished by Secretary Morrill, Tho
logic goes further in its assumptions and claims
that the democratic bondholdcrs largo will not sup
port their own party II they that change OF
adm ,stration is likely result In policy affect
ing the stability of their investments and the pro-
visions now guaranteeing the payment OF their inter-
est The administration therefore expect as a matter
OF seprotecton that the moneyed classes Of the
ocraiic party, especially in Now York, will cooperate
with tho republicans for the protection OF their bonds
The Secretary OF the Treasury thinks that IL the
coming elections result in the election OF Hayes aud
Wheeler 1t will argue the popular approval and con-
sequcnt continuance OF the present financial policy Of
the republican party The balance of the $780, 900
Of the four and halt per cent loan will so off, to
his own expression, 'Liks not cakes" and, with
this cheering encouragement he feels conhdont that
steps be Immediately taken to fund the remaining
500 0O0 900 $780, 000 900 OF the six per
outstanding into the four per cent loan authorized by
tho act OF July IA, 1870
As an illustration OF how a stability of the present
order of things closely watched by foreign investors
IN United States securities Secretary Morrill, stated
with suggestive smile, that prior to the passage OF
the resolution by the House of repeal
ing the Specie Resumption act he had been IN COM
muncaion with the Rothschilds in regard the four
and half per cent loan, and so sensitive were our
creditors OF the least thing likely to change the nature
Of things that they would Immediately telegraph
him urgently 10 know what IL meant and what would
be the effect Of 1t, to which no replied that did not
amount to anything, because the democrats were
driven into It, doubt by Hendricks, and, regarded
as legislation would fall with the session Strangely
enough, short tmc after this Mr.. August Belmont
was at the Cuc natl Convention urging the approval
OF this act though by Of his connection with
tho Rothschilcs ho was pccuniariIy interested tho
other way n Is should affect the character OF American
credit abroad.
Tho great aim of the government Is now to provids
most securely for the payment Of the large amount
Of interest on Its bonds in 1882, and anything
which would interfere with It, the republicans say,
would be- OF grave significance country.
II the democratic party should be in the ascendnncy
then and should not provide tor such interest," would
be grca, calamity and result In the rain of the coun
try because our credit abroad would be gone
On the other hand the democrats say they would
not disturb the law but would carry IL out faith.
fully order protect their friends interested
in the safety OF United States bonds secure channels
OF investment Tho Treasury officials calculate that
the disposal of the whole $780, ooo 900 Of the four
halt per cent loan vii, take about year.
Ex-sECRgTARY BRIsTow CoNsPIRrNo AGAINST
PRESIDENT oRANT-THE REPORT PREPARED
by MAJOR MOORE IN THE LINZ OF HIS
OFFICIAL DUTY AS SPECIAL AGENT.
Tho despatch to Baltimore paper OF the 2ls.
beaded, "Does Brstow. well Schurz, humbly eat
his lccks" and ono of similar import a Boston
paper the effect that Special Agent W. b. Moore had
prepared statement rejecting severely upon exsecre.
tary Bristow, and that II had been withhold from
publication by request of President Grant,
by competent authority TO be entirely without oundn-
ton The President had nothing whatever to do with
It. Tho truth is that Major Moore has prepared no
matter for publication referring to exSecrotary Brs.
tow or his so.called conspiracy but In tho prosecution
or duties assigned 10 him Major Moore has made
reports Of ofncia character in reference TO Mr..
Brstows pervcrslon OF his official authority to force
the officers Of his department. In violation OF civil SER
vice rules, 10 sus|hlu MIN IN MS Efforts 10 get
the Cincinnati adm stration to them through Blu.
ford Wilson building up false and unjust public
scntimcnt aganst President Grant. Copies OF this
together with two other reports showing gross violation
Of civil reform, which eavo doubt as TO Mr.
Brlstow's regard for public economy, have been
nlcd In the Treasury Department, ard will be made
public at the proper timc
GENERAL BABCoCKs FRIENDS JUBrrAHr-No
CASE AGAINST HIM MADE oUr--coMMENrs
ON THE sUPINxNKss OF THE DISTRICT AT
ToRNRy.
The friends OF General Babcock jubilant to night
ana the general verdict passed by thcm no case
has been maic against him Tho witness Whitley is
pronounced upon all hands 10 havo been a trincr
throughout and Is known TO have announced that he
hurt General Babcock. The only witness who IL
regarded as having mndo snort to njurc him
IL Newcomc. II Is said he will, ~ tho trial
over, pay the penalty OF his emily by losing bis
position detective under the Department of Jus
ticc. Even the most positively opposed Babcock's
acquittal, which Is now looked upon M an assured
iact say might have been made against Babcock
with reputable witnesses; but assailed by such un.
scrupulous and irresponsible characters he shines out
injured man before the public and is presurnp-
tivoly innocent Of any completely with knowledge
Of The safe burglary Much sympathy has becn thcre-
FORE aroused IN favor OF General BaDcock Dtsappoiu
mcnt felt that Mr. Riddle did make ou, stronger
case and the supincncss OF District Attorney Wells
for prudential reasons noticeable from the start
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