Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-11
THE DIFFERENCE.
A MARKED Contrast In tho Treatment of
Shern0n's Pet Bank and Soldiers

Attorney am requested by q olient-a
widow whose husband was serving in the
army to suppress the rebellion-to call and
say that she has some bonds that have been
called in by the secretary for redemption,
which bonds are the proceeds of the pension
of my clients deceased husband, and which
are held in trust for the widow and her
minor children, and she asks me to exchange
them at tho treasury for 4 per cent. bonds.
She wants to avoid reducing the principal of
her fund by exchanging with the government
evenly. s.sa
Treasurer treasury department can
not do anything for her. She will have to go to
the banks and purchase the four per cents.
1 see they requoted at 1:44 premium this
morning. Wo can only give her par for her
bonds, but can not give her bonds in ex
change. -r s. I..s...,..
/ Attorney-Well, these bonds were called
in on May 1st. Can get interest up to that
date?
Treasurer No; the interest ceased on July
31st. Since that dato the bonds called in on
May LIST ceased to bear interest.
1 Attorney what goes with the inter-
est on the bonds subscribed for by the First
National bank of New York, which are now
unpaid for and remaining in the hands CT
secretary?
Treasurerr-(slowly and in apparent medi
tation) well, you will have to 60 to the Sec
Rotary of the treasury for that information.
Attorney-The newspapers state land it
has not yet been contradictory that these
bonds still in the treasury, although not paid
for, have the interest coupons detached, and
the First National bank has thus obtained
five months interest on this vast sum of
money before paying cent upon the bonds
remaining in the treasury; while this widow
and her children must not only lose what to
them is heavy lapse of interest, but must
go to third party and pay an exorbitant
premium before they can receive any income
on their little savings. Is this not 80?
Treasurer (thoughtfully) We'll, am not
prepared to say; you must see the secretary.
Attorney-Well, thief operations of the
treasury are conducted on business princi-
pies, are they not?
Treasurer-Ycs. a*7
Attorney-Well, if you were to go to
bank and engage 81 900 in securities to-day
and agree to receive and pay for them the LIST
| Of next January, would the bank allow you
to draw the interest on the bond before you
paid tho purchase money?
Treasurer-You had better see some
banker.
| Attorney will.
The attorney goes to the president of
prominent bank, and the following converse
ton occurs:
| Attorney wish to purchase 81 600 in
per cent. United States securities. What
will it cost me?
Bank Officer-It will cost you IL per cent.
premium and per cent. interest, computed
up to the hour yon purchase and pay for the
bonds.
| Attorney am not prepared to pay Just
now for the bond. can use the coupon to
good advantage. will purchase tho bond,
and after cutting off the coupon will leave
the bond with you as security that will pay
for it January 1, 1880. ..~
Bank Officer Please step aside there and
make room for our customers; we are not
idiots, nor have we time to talk with idiots.
Exit attorney, who is now computing the
difference between the income of soldiers
widow and orphans and the family of a man
who staid at home and measured calico dur
ing the war, or the stay-at-home stockhold-
| ers in tho First National bank of New York.
THE NEW YORK NOMINATIONS.
Gossip About the Republican, Nomination.
and the Talk Of the Democratic Candi-
dates.
Washington Special to Cincinnati ENQUIRER.
The loyal "organs'' which are always at
tuned to apologize for the feelings OF this
most remarkable administration, are having
telegraphed hence to-day the remarkable
statement that both the p resident and Sec
! rotary Sherman are pleased with tho result
OF the New York Republican convention.
Such assertions are an insult to the intelli-
gence of their readers unless, indeed, the
circulation Of such newspapers is confined
exclusively TO the patients in our insane
asylums. To-day met a clerk
in the treasury department who was
a proxy to the Saratoga convention.
and participated in its proceedings.
lie said that in the evening of the day on
which Cornell was nominated that Ex- Sena-
tor Fenton had a conference with number
OF delegates who were not in sympathy with
Cornell. Said Fenton in that insinuatino
way peculiar to himself, CHOW that we are
together, and before We separate, would il
not be good idea to have an understand
ing, one with the other, that VIC will work to
secure such delegates to the Republican pres
ldentlal nominating convention as will sup
port the claims of Secretary Sherman for
the presidential nomination. sFor a
moment says my informant, ''there
was profound silence when The
T~SENS,~ASAA
for moment, for one of the delegates ad.
vanced with good deal of feeling to Fen
ton and said, with emphasis and explet;vo
accomplishments: "Gad, Fenton, YOUR prom
osltion is ridiculous. If you had not an
peared at to-day's convention as the bupler
OF secretary Sherman, A. B. Cornell would
not have been nominated" asked nv in
tormant what the language of the delegate
s,gnlled, and he replied: swell, the fact of
the matter is just this: 1t was generally un-
derstood that the nomination of Robertson
would have been acceptable to Secretary
Sherman. Indeed, it was the rumor that
Blaine and Sherman had some kind
OF arrangement between them on the
plan of anything to beat Cornell, which. of
course, meant Conkling. Had it succeeded
a subsequent understanding for future oper-
atoms would have been arranged between
Blanc and Sherman, but the truth of the
matter Is that when it became known. al e.
did, that any other nominee than Cornell
would have been acceptable to Sherman the
delegates made up their minds that as be-
tween Conkilngs man and the field who
would have suited Sherman they were for
oorneli every time" The belief here among
sagaclous politicians is that the New York
democrats in convention next week Win
in spite of Tammany onnos;tion
and threats, renominata az.
ernor Robinson. MI. Tildan :.
allalo 10 allow Sanford E. Church to be
nom,nated, because against Cornell he
would have Q walk over, and be dangerous
rlgal as Presidential candidate in 1850. n
IS believed that the Gramercy Park states
man would be satisfied with Clarkson r.
Potters nomination, but he is afraid that ha
might fail to secure the nomination in the
break up which would como in the CONVEX
ton If he Withdrew Robinson Henno ma