New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-21
THE CREDIT INDUSTRIEL.

MR.. TRESCOT'S EXAMINATION ENDED.
| his UNDERSTANDING OF THE INSTRUCTIONS OF
JUNE 15-MR. BELMoNT's PETULANr HUMoR-
ABsURDIrY OF THE CHARGES AGAINST Mr..
BLAINE
lBY TELEGRAPH TO TRrBUsEl
WASHINGTON, June 20.-Mr. TrescOt concluded
his testimony before the House Committee on For
ejgn Affairs to-day. With this the investigation Is
understood to have ended, and the third chapter in
the so-called Peruvian scandal-that of the Credit
1ndustriel-s closed All the Trustworthy testimony
taken before the committee and the official corre
spondence unite in showing that Mr. BlaiDes course
toward the Credit Industrel as in every other mat
ter in this ssOuth-American controversy, was straight
forward and consistent throughout and entirely in
consistent with the theories and nsinuaons OF the
rabid anti-Blaine press.
Mr.. Blaine told Count Dc Montferrand, at their
first interview, in April, 1881 that the proposition
which had been made by the Credit Industriel 70
Secretary Evarts. and upon which he now
quested TO act, was entirely inadmissible. Mr.
Blaines telegram to General Hurbut Of October 27,
influence of your position must not be used in aid
of Credit Industrie any other financial specu-
lating association" certainly consistent with
this position assumed by Air. Blaine at the outset
of his administration. Likewise was this extract
from the letter OF November 10 to General Huribut,
explaining the telegram:
Agents OF tho Credit Industriel had visited the De-
parmen Of state and Intellectually endeay to enlist
ever rstworthy the Croii1 fndustrie pa Se did not
consider for the Department have anything
responsible to French law and must seek it patronage
and protection from France.
In the face of evidence like this the anti-Blaine
newspapers have charged that Mr.. Blaine used the
influence OF the State Department in behalf of the
Credit Industrlel, just as in the face of evidence
equally convincing they have sought to persuade
the American people that he used the Department
to push the COchet and Landreau claims.
Mr. Blaine ntimated the other day that he did
not think the people Of the country and large
proportion of the press understood what the propo-
sitlon of the Credit Industriel was 1t was propo-
sition that the United States Government should
assume protectorate over Peru, while the Credit
Industrel French corporation took charge Of the
finances of Ghe country, furnished the money for
the indemnity to Chill, and worked out of the re-
sources of Peru the money due the Peruvian bond
holders in France, Belgium, Holland and England.
As Mr.. Blaine sad, it was little difficult to
where the interest of the United States began in
this operation Still it is not to be understood that
he took position hostile to it, He assured Count
de Montferrand, as he afterward informed the
United States Minister in Peru, that the United
States would rejoice if the difficulties of Peru
solved by the aid Of this any other corporation,
but the United States could more undertake
protectorate for this purpose than 1T could become
the guarantor of the notes of the Bank oe England.
The whole of Mr.. TrescOts examination by Mr.
Belmont has been practically directed to the n-
structlons of June 10 to General Hurbut in which
this language is used;
AS you aware. more than proposition has been
submitted 10 the consideration OF this Cover nment look
Ing to friendly Intervention by which Peru might DO
enabled 10 meet tue conditions which would probably he
imposed Circumstances do not seem at present oppor-
for such action, but IT, upon full knowledge Of the
condition Of Peru inform this Government that
devise and carry into practical effect plan by
winch all ,he reasonable conditions Of C.h be met
without sacrificing tie integrity OF Peruvian territory
offer its good offices toward the execution OF such
project lt Is the desire OF the United states To
republics and its influence solely in interest Of
honorable and lasting peace.
The attempt has been made to show that this
innocent paragraph inconsistent with the posi-
tion held before and after-that this Government
could not take the action which the Credit Indus
triel wanted. aud was in fact, written in the in
tercst of the Cred t Industriel. Mr. Trescot said
to-day that the alluson in the paragraph
quesuonab.y to the Credit IndustrieI, and Mr. Bel
mont said he perfectly satisfied" with that
answer. Some of the anti-Blanc papers, which
dwell on these instructions without ever allowing
their readers to see the text, speak Of this para
graph as commencing" the Credit Industriel,
which comes very indeed TO downright
truth Mr. Blaine, in his letter of November 10 to
General Hurlbut. said, speaking Of the Credit In-
dustrIel:
If it can be made an effective instrumentality aid
that unhappy country In lis prostrae anu helpless CON
don it would be unjust aud ungenerons to Obstruct its
fully complied with yoar instructions by simply abstain
ing from ali connection with the association.
These two sen ences give tle whole OF Mr.. Blane's
attitude toward the Credit Industrel, which Mr.
Trcscot in his letter to Mr. Blaine and his testimony
to-day and heretofore fully confirmed. Indeed tho
assaIlants of Mr. Blaine, il they but knew 1t, have
now reduced their charges against him to this
gittering absurdity that no used all the power of
the State Department to push three
distinct claims and projects, all aimed
at the same prize-all distinct and
all necessarily hostile 10 each other If the Cochet
claim had ever been recognized by Peru, the Lam
dreau claim would have been swept out of sight. II
the Landreau claim-for which Mr.. Blaine never
asked than a hearing-had been recognized.
the Cochet clim wonld have hal no standing.
And if the Credit Industriel had succeeded in its
project neither Of these claims would have had tho
ghost Of a chance for recognition. But Mr.. Baine's
assallants, apparently unconscious of the absurdty
of their position, are on record as charging that he
was working hard for all three.
There some interesting personal episodes in
the examination to-day. Mr. Belmont. for whose
sole benefit the examination hal been continued,
kept heaping up questions about the meaning" Of
the instructions of June 15, and among other things
asked Mr. 1rcscot how he thought tho
Minister receiving them would have understood
them. Even Mr. Irescots diplomatic poteness was
not proof against this. lie could not restrail him.
self from laughing little. "Why, Sir. Belmontn
said he, that seems to me to be queer sort Of
question"
" Well" retorted Mr.. Belmont, reddening lttlo
with anger Ia like TO have you answer 1t, II 1t is
queer question"
Sir Trescot explained that be could not tell how
another person would have understood 1.-THE only
knew how he understood it, soon after came a dis