The sun., 1882-03-19

with the Credit lndustricl were arranged
The question is whether the purport of the
mysterious contract, in which those nogotia-
tiOns eliminated, was not understood and
ratified by Mr.. morton when las the docu-
mcDt shows upon Its face) it was executed
in duplicate on Aug. q, 1881, at New
York, and also at Paris, in which latter
city Mr. MORTON was then residing
as Minister to France. That question
cannot be answered by Mr. MORTON in the
negative without imputlng to himself ex-
! treme dulness and recklessncsS in business
matters, with which he has not vet been
credited. He has passed the age when men
are permitted to plead the baby act. There
was no dulness OF artlessness exhibited by
Mr. MORTON and his partners In their ar
rangement with the Credit Industriel On
the contrary, as we shall point out presently,
II either party to this late contract" was
made q fool Of, 1t was not the American firm
| Mr.. MORTON calls his g1lano and nitrate
transaction with the Credit Industriel legit-
innate and regular. We pronounce 1t irreg-
ular. unprecedented inexplicable upon the
theory that only ordinary business services
were to be paid for. 1t is plain that the whole
contention hinges on this difference Of opin-
| ion for II we are able to show that the con-
| tract was such as no reputable business
house In this city conversant with the sub
ject matter has ever entered into or even
heard of, we imagine That Mr.. MoRToN's
fervent disclaimer of any bargain or inteu-
tion 10 exert peculiar or political influence
will have but little weight. Now, 1t will be
observed that Mr.. MORTON does not ad-
duce particle OF proof in support
Of the alleged regularity of his truns-
action. We challenge him to 60 before
the committee of inquiry end prove that his
firm or any other business house in this coun-
try ever entered into an agreement TO sell
guanos and nitrates on conditions 50 singu-
larly lucrative as those which were secured
by our Minister to France. Look at the con-
tract! 1t makes the firm Of MORTON, BLISS
u Co. the exclusive agents for the sale Of two
great staples which, as every banker and
merchant knows, are, In a peculiar and EN-
phatic sense, cash articles. 1t imposes no
charges whatsoever ON the consignees 1t
does not permit the consignors to draw on
account Of their consignments in advance of
sales; 1t calls for absolutely no ex-
tension Of credit facilities by the
American house What are the limited
business services here specified considered
to be worth in the open market, and accord
ing to the practice OF merchants We assert
that commission Of IL to 2 per cent would
be deemed an ample compensation for a CON-
signee Of guano and nitrates, where no
charges are incurred and no credit facilities
extended. We challenge contradiction for
this statement; and if the committee of in
quiry entertain any doubt upon this head
let them summon the Representatives Of such
firms as DRExEL, MORGAN & Co., Brown
BROTHERS 4 Co., AUGUST BELMONT x Co.,
HoBsoN, HCRTADo l. Co., or W. R. GRACE d
Co., and ask them whether they would not
gladly undertake the same business on those
terms. Enlightened on this point, let the
committee call ON Mr.. MORTON to explain
how 1t came to pass that his contract with
the Credit Industriel allows him fire per cent
commission for services which would not cost
him dollar or involve him in the slightest
risk Of loss?
On its face the exorbltant commission
called for by the MORTON contract fairly
reeks with suspicion. But the inevitable in
ference that something besides the modest
business services therein specified were ex-
pected Of our Minister to France is COM
to the main instrument and executed at Pa
ris on the same date. Here we find disclosed
the real consideration moving the Credit In
dustriel to enter into an unprecedented agree
Inent, and the true nature OF the services
which Mr.. MORTON, 1t was hoped, would rem
der in return for the eXtIavagant commis-
sion Of five per cent. The contract, it is stip-
ulated in the memorandum, shall cease and
wholly determine at the expiration OF six
years from date, in case the contracts made
by the Credit Industriel with PRADos
Commissioners and with PIrRoLA should
fail to become operatire and effective in conse-
Quence of the failure of the United States to
mediate between Chill, Peru. and Bolivia, and
thus to secure peace and the recognition Of
the CONCESSIONS rights and privileges granted
to" the Credit Industriel! Can any sane
man couple the extraordinary commission Of
five per cent with the stipulation under
scored and deny that it was the glaring and
primary purpose Of the agreement to make
it for the great pecuniary interest of Minister
MORTON to secure by official, personal, or
political influence the mediation of the United
States in the South American imbrogio on
behalf of a Ring Of foreign spectators ?
We pronounce Mr.. MoRToNs effort to JUS
tify his guano transaction far from satisfac-
tory, for he wholly onits to account for the
unparalleled commission he was TO receive
under the.contract, or to explain the signih-
cant stipulation in the annexed menoran-
dun. He may say doubtless, that lie has
not managed, or has not even tried, to ac-
complish what the Credit Industriel expected
at his hands. Granting this, it would simply
mean that somebody was deluded in the
transaction and we should perhaps infer that
the mistake has been discovered from the fact
that Mr.. MORTON aludes to the agreement
as our late contract" Be this us 1t may, it
remains indisputable that on the 9th day of
August Mr.. L. p MORTON, then Minister to
France, entered into the contract whose ex-
traordinary features are above described, and
whose discredituble Significance he has not
even attempted In his published letter to ex-
plain away.
Let the committee OF inquiry issue a sub.
pGna for Mr.. MORTON! Let him so upon