Year: 1869

VI tno neBisber:


The corrupt tendency of the times is
shown in no way more distinctly than
in the common resort to the combina-
tions called Rings, for the promotion of
special interests which in themselves
have no claim upon the public-which
are often improper and will not bear the
test ofpublic scrutiny. Donn Piatt says
on this snbject, that eve have the most
corrupt government in the world; 1T Is
run by rings; not the least dishearten-
ing part of this is to be found IN the


utter indifference with which the public
at large regard this fact. 1t is no longer
shame to steal. 1t has ceased to be
dishonor to defraud." All rings have
characteristic in common; they seek
their interest at the expense of the pub
lie. In plain terms, they seek to plunder
the public. This corrupt method of
deing things prevails to a greater OF
lesser extent not only in national affairs
but also in State and municipal legisis-
tion.
AS yet We have not experienced the
effect of these corrupt combinations to
q very disastrous extent in this State;
nevertheless, we have not entirely es.
capped them. Every one must have OBJ
served their workings in our Legisla-
ture when the location of State capi-
tai was being considered, and the effect
~ a1 he,
with railroad taxation.


Iu our municipal affairs we. have al
ways been plundered by rings. We
had water pipe ring ) ear or two ago
and their object, as since understood,
was to compel the city to pay from a to
4t cents per pound for large contract
of pipe, which could be bought outside
of the~ring at about 3s cents per pound.
We formerly had a bank ring, the OBJ
iect of which seemed to be such a man
a cement Of the city finances that GER
tain banks should have the use of the
city deposits without interest, but we
suspect that this has been superseded
by a Savings Institution ring, which is
satisfed with making handsome profit |
out Of all of the stock operations of the
city and with the deposit of the money
of the sinking fund at such interest
that it can divide ten per cent dividend
every six months to its stock holders.
We hear it limited that we have
what may be termed city bond ring.
The mild and gentle measure which
this ring wants to carry is the issue of
two hundred aud fifty thousand dollars
of city bonds which are to bear nine per
cent. interest and are to be secured upon
tho city property and revenues. 1t is
expectcd that all of the other city rings
will 60 in for this measure, as they all
expect to share in the plunder. This
job will not be brought forward very
prominently for few mouths, but it
will be pressed and, of course, carried
at the proper season. The excuse for it
will be found in the,everdue obligations
of the city and the new debts which |
the rings intend to make, so as to force
the city into such a position that an
issue of bonds oasitot be avoided.


This article would be incomplete |
without mention of the fiercest and
most determined ring ever known here !!
we mean the Market Street Bridge |
Ring. This ring carries on its opera
tons with the b5ldness characteristic of
those who seek to plunder the pu Bile
Six OF eight property holders, and three
or four lease holders, who wish to make |
their property and leases more valuable,
united with a stone mason seeking a
contract, to make a strong ring, and
can readily carry with it in Council the
votes of all of that class who, having
no property interest ct stake, are al
ways ready to vote the public money
freely.


The city treasury has no money. On
the contrary it is overchecked and
bankrupt to the extent of many thou
sand dollars, and is threatened with exc
cutions to collect large sums Of money
which have for many years been due to
indulgent creditors. Upwards of eighty
thousand dollars of Water Works bonds
are due and no money with which to
pay them. All of the rings mentioned
understand this and intend to increase |
the embarrassment of the treasury and
then comes in the opportunity for the
nine per cent bonds. Look ont for the
taxes which will follow.


INQUIRER.