, 1881-03-07
Duplicated. Tito Rront danger to tho country IS
not there; it ts st,nlcwhoro ulse.'

cl"ssrs. Tho conntry Il. rici,cr to.day tint
wa' III, S'o'f o aud l II ~Ssh s + FL. FL.
ycnr nru not ai'vays tho aln,c Rs those Of lHst
ysar although thu country itsalf NM my BE-, 1e rielr
critics u which they Invest md nihrrn To them
mil they tsnd suod cause for c'lanEo arc
moro certain u ,,r>, :. ,,c,,.
late tor ,whnt tisoy cali IA ll,rn.' Tho ,chanKrs
in1.'E loss quito, rs ottcn rs Enln. but
person @ i' s"ia il irst:cln.s inse.tn,u@t. @ tt sns
.;t yeas nSo, n Fafsa hls c,,,S ~ 'tT!, S
ertsrs, ~ ii he hull al,lhcrctt t. Iiis t,rvn H.
vcslmcnt a.nl kcrt 1t tunct. ! knnw Of il Krrnt
t' a Feais ct e1 eaSe y ce @ sre, sx Gc
Etesl by
TILE l.AltuELy-ISt1lEAsEn VALUE or TlIEiR
INVESTMENT,
while othors WIN hnvo tried In hetter themselves
tltyn ncarly frtttercd AWAY their ontlro prt''cl-
Mr. Vanderbilt went on to suy TINT 10 believed
III tho policy of permanent Investments; thnt hc
wns n0i grcNt epcuuiWtnr. ns the press wDll
iasc tha ,co,ntry tsi!eys; tint hc i cn8 so.',
difficulty ls," hc went IN to suy" that
SPECULATION HAS u0r POSSESSION Of TIE
rEurl.E,
md thorc arc very TOW. who arc, abc tn with.
stand III rnselnnt!ons. linrlly dug passcs that
nln mt chilled upon 70 hclp some n',e wlo i'as
bud us tic tncn-nll on II venture, Il, stuchs.
1t IN really wonderful til sec to what extent the
spirit t'f speculation is chrrcl iH'w.ulhys. Gati.
AtrHct!On companies nrB formed by rtptMltsss
md spectIfntnrs to nill rnlruhts. not as lrKttl.
mntc enterprises which they intend to own nnd
4, dcprcss Tho InarKct vnllio nf n,hor interests
The 1tnmehsu amount Of Initiated securities
which they placn before tho public increases the
htxhtcn tho disaescr wflen
THE CHEAT Gtststs
nttcnJfng nil such speculation finally comes"
"Wnnt do yni think Of thu Congressional Mt.
tenipt ut refandlDE tho debt byA ) per cent
& "s preserve tho present IS; pro.rerity Ct Tho
take to attempt to tloat y bond 1T
my and NIL conditions of the Hn.rke,. 4 law in
iercst bond with short tins to run Is sleen,.
were per cent II would, IN nny couditun OF tho
market, bring phr. nn1 fn
THE PRESENT FINANCIAL. CONDITION OF THE
COUNTRY,
I. premium, reducing tho tntureat to tho Gov
er1llGHt 10 ut leMst w per cent. IT. ths method
The yrcatcst cUnldcnce md stability would bu
given tu tho ll,sness and credit or tho c0untry,
ana .he Government recetvcths full value OF Its
:" Yuur name hna recently figured very ,prom.
,s"t,y ,y,n.st T. The consolidation Of tho telegraph
ayes, 4 Krent Jgnl hns been eatj abOut
mi cu!lcernrtt, | 1tctc,1 III prr.
feet good ftlith lnd accordlus to my
beat Judgment a. 4 Director Ut tho Wcsi-
Urn Untos Company. At tho time was less In
teresteu In the stock of the Company tau at any
tulp for threr years tror uusly: but there wa no
difference Of op0 In tho h xcrlttye Committee
rs to wtlat was for tho best Interests OF Tho Com
puny, nui have Iui;eI uu to this ti,nc to bear
Ut 4 large aharcholdcr OF tue property,
nearly uIi Of whom have been steady
Investors Tor ycars pnst, Who lis
not considered tho consolidation ns thu most nd
ynrtnvcOus md Lus nGss- 1iEo urrn urcnr,I tint
could nuyp been nude would not hrsliR;e to
19 osar hKasss tptsrw: III ~ T. tnat
,,,.r ~m's s ~, ~, ' NV
MET TIE AfFIsos.AL oF ALL PARTIES IN
Ti:1lEsTED,
with but ouc exception
III. Vanderbilt tnid he considered Thomas Il.
Scntt tho beat rnilroad mnnaRer and executive
b1ticor hu ever snw. Jay Gould was nbie AMI
shrowl, Sir, Jpwptt he considered n nluf uf sll-
perior ability. One or tho broadcast MID cicarest.
henlcd !ncn in tho railroud world WIS Alburt
Fink, the Commissioner Of TIM trunk ltues,