Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1879-09-06
LEHMAN AND ms MOvEMENTs

rEENs $4,000 IN ADVANCE.
HERMAN AND ms MovEmENTs.
We cut the following from the
neinnati Enquirer. TO our read
who do not get the daily news
= will require some explanation,
hich we give at the end of the ex-
act. 1t has really an important
caring upon the prospects of the
ext Presidential election:
The facts that have been brought 20 light
regard TO Secretary Sherman's fayortt- /
m TO one ofthe New York banks can not
: denied or explained away. They are /
hmaging alike 20 him and his party.
The First National Bank Of New York.
18th a capital OF only S5000OO, subscribed
~ Ss7AO0ou0 In four per cent bonds, e&-
zctihg 90 De aDie 10 '-,ssis s.;e.i- -
.rofit. These bonds were TO be delivered
he first OF July. at which time the money
pr them was 10 be paid. The first of July
anne and the money was not paid for them.
he first of August also came and over S29,-
1000 was still unpaid Of the sum due. Az
. r this time il became known that Secre-
Try sherman had extended the time for
ayment until the first of october.
II further transpires that Mr. .Gilhian, the
treasurer of the United States, at one time
rev on the First National Bank of New
Ork for S4OO0,00O, on account OF this money
ne the Government. and the Secretary of
he Treasury interpoSed and had payment
4 il, or It's presentation for payment rather,
topped, before IL had passed through the
Hearing house.
In the first place he favored his bank by
Xtending the time of payment, and next he
protected il when the presentation of draft
Tue the Government would have seriously
But this is not all. This First National
bank OF New York has been specially favor
NnHr d 10 ans mn
Hince the fact was made known that an
tverage deposit OF s40O0O,OO0 belonging 10
Inc Government had been allowed to lay ia
he vaults of this bank for months without
interest. In Wall street, where interest IS
counted by the day and often by the hour
IN large sums, the magnitude Of such favor
tisIa - apparent.
When i6nn Sherman went up into Maine,
a few weeks ago, TO preach the doctrines OF
resumption. he proclaimed that the funding
operations were closed that the bonded
Hlebt of the Government had been refunded
at "a low rae of interest, and everything was
cleared up. When he was here IN Clncln-
matt last week he was compelled 10 admit
that the funding operations were not closed,
because he had not pushed the New York
banks for the money in payment for the
four per cent. bonds.
He didn't II the business men on
Change here that he had allowed that
New York bank to cut OF the coupons ana
draw the interest on those for which II had
not yet paid. But such was the fact. Is this
what would be called fair business prfnci-
pie between men doing business on an
equality? Is it customary Tor a debtor TO
paw interest ON money before he receives II?
Would Mr.. Sherman do such thing, he
himself being the borrower?
For, after all. these financial transactions
between the Government and the banks
should be measured by the same rules as
though they We're the transactions of prt-
vate individuals. II a man or bank loans
money TO the Government, IL should be UNI
der the same restrictions as though IL WeretO
another man. An officer should show no
favors because he represents the Govern
mHnf- should he ask aHE. Let IL be
business and that alone.
Last of all, the full publicity should be
given 10 all transactions between the Gov
eminent and its financial agents. The en-
forcing of such an order of secrecy as Mr..
sherman promulgated yesterday Will only
add 10 his embarrSsS ments' Inc press OF
the country will not be kept in Ignorance of
the doings Of the Treasury thereby, but
there will always be a suspicion that some
thing is being kept back. There Is no crisis
impending to require the suppression OF the
factS as they occur Mr.. sherman had far
better take the people of the country
into his confidence if he wants to enjoy
theirs.
Mr.. Sherman's course, since he
was guilty of the unprecedented
blunder of declaring himself of his
own motion a candidate for the
Presidency, has been very eccen-
trio one. He first went over to
Maine, ostensibly to help Mr..
Blaine carry that State; but the
astute Secretary never really works
to help anybody but himself. So,
as soon as he got well balanced on
the stump, he began to talk resump-
ton and four per cent. bonds, and
the praise and glory of the Treasury
i'm general. Blaine very soon shut
down on all this; it was resump-
ton and the Sherman policy in
finance which was already losing
him his foot hold in his own State
and converting Radicals into Green
hackers by thousands; moreover he
wanted Maine canvassed in his own
interest, and not that of John Sher-
man, so the dOuble-faced Secretary
very soon got a hint of the brOadest
sort that he was very urgently
needed in Ohio, where Foster was
having very uphill work in defend
ing the Hayes-Sherman policy
against the attacks of Ewing, VOor-
HES & Co. So to Ohio he posted.
Here he was at home, and must
have supposed he was going to
carry everything his own way,
especially as he had Garfield, FOs-
ter and Taft to help him, which, it
must be admitted, was a strong
team; so he was soon blowing his
horn to the tune of resumption and
the funding of the old six per cent.
bonds for four per cent, and fancied
he was getting along swimmingly-
when a passion seized the people
for asking questions. Was the
funding of five forties a real trans
action? Who got the bonds? Who
paid for them, and how much? 1t
was astounding; the whole State of
Ohio seemed to have became note
of interrogation. Nor was it on
financial topics that the questions
were put. Foster had been running
the campaign Il good deal on the
old soldier platform, and as soon as
Sherman had mounted that stump
again, the questions poured in hot
and heavy: How many old sol
diers held appointments in the
Treasury? How many home guards
and skulkers, who never smelt gun
powder? How many white-washed
rebels? Oh! John! will these
interrogations never end? Alas +!
when the answers came they made
things worse than the questions, for
some truths had to be acknowledged
which came straight from the
Treasury Office, and of which these
pestilent interrogators had, some
how or other, gained possession,
and it was gradually eXtorted from
him that the funding of the five
forties was mere sham and hum
bug; that they had been nOminally
sold to the First National Bank of
New York which had never paid
for them, though the time for pay