Year: 1875

|
lie journals would gladly be spared the pain
of publishing, and still more of commenting
on, the news of the day. When regulations
hitherto unsullied are aspersed, even by
legal proceedings, the reluctant journalist
shrnks from the task which he cannot avoid,
and would gladly be spared the infiction of
distress and humiliation on the parties i'm
mediately concerned and the shattering of
public confidence in men who have long
been esteemed as models of integrity
and honor. But journals make an
implied engagement with the public to give
all important news, and an indictment by
! grand jury of a commercial firm of the
highest rank and standing has too deep
and startling an interest to be concealed,
even if all the newspapers of the city
should charitably attempt to suppress
it, An indictment by grand jury is no
conclusive proof of guilt. All the evidence
presented to grand jury is er pdrte.
| The parties accused cannot be heard in
| explanation the witnesses are not SUBJ
| jected to a cross-examination f; all the
testimony is on one side, and it is
i
open trial may result in complete exculpa-
ton But until such trial can be had the
indicted parties must suffer in public estima-
tion. Even if they are supported by con-
scious innocence their sensibilities and pride
of character must be deeply wounded Every
citizen of this metropolis has an interest in
wishing that this grave accusation of one of
/
to be unfounded. The character of our great
merchants is our most precious possession.
Confidence in mercantile honor is one
of the main pillars of public prosperity


One of tie most ennobling features Of
modern life is the existence of great and
stable regulations which excite such feeling
of trust that men dwelling on distant CONT
nents feel it safe to send their property across
wide oceans, with a perfect assurance
that the firms to which it is consigned
will protect the interests of owners as
if they were their own. Consignors of
valuable cargoes often sleep in as perfect
security as if their merchandise were in their
own warehouses and under their immediate
inspection. We have always had, and still
have, such merchants in this great emporium,
and it is a shock to the community and
modification to our commercial pride when
doubts are cast upon. any one of their num-
1 Der.


1t will be seen by the statements made by
the inculpated firm to our reporter that they
confidently assert their inpocence; and their
card, which we also publish, asking a sus-
Il - ;f11r
opportunity to be heard in defence,
will strike the public as reasonable.
| The only thing which we are yet justified
/ in regarding as established is the fact that
large amounts of French silks have been
smugglcd into the country and have found
market. Shrewd merchants, long in business
/ who closely watch the foreign markets, who
are judges Of the qualities of silks
and know the prices at which they
can be purchased in France, cannot
easily be made the dupes Of illicit
/ importers; and we suppose it to be mainly on
this presumption that the house of Clafin Il
Co. fell under suspicion. They are too yell
acquainted with the trade to be deceived, and
if they have been in the habit of buying silks
in this country at prices far lower than they
could import them and pay the duties
that fact would naturally excite the suspicion
Of Custom House officers, and it is a fact (if it
be fact) which they are bound either to dis
prove or explain. We sincerely hope, and
every right-minded citizen will agree With as
in hoping, that they may succeed. There
is good reason to believe that the
smuggling Of silks has been enor-
nous, and it is not easy to imagine
that large illicit trade could be carried on
for years unless some Of the great merchants
who supply the country trade we're pur-
chasers Of the contraband goods. II is essen
tial to the business OF smugglers that they
find a ready market, and the security of
their illicit trade depends on the few
ness Of their purchasers and their ability
to get their goods distributed through unsus-
pected channels. Their ability to make great
fortunes without hazard depends on the con-
nlvance Of great firms who viii quietly and
promptly take the goods off their hands. But
no really great firm in that branch Of trade
can do this without conscious COM
plicity, because such a firm has constant
knowledge of the foreign prices Of the goods
the rates Of duty and all the elements of cost
in the domestic market. II they are offered
to such firm at prices considerably below
those 1T which they can be honestly inn
ported, II j. prima focis evidence that
they have been smugglsd, and the
purchaser receives them at his risk
and peril. II is difficult to see
how 50 experienced firm rs that Of Claain &
Go. could H. deceived on such point, or
why they should even take the risk OF buying
silks ~ large quantities in tho domestic mar
l,et when thair own facilities for cheap and
honest importation are equal to those Of the
most favored buyers. lfthey had never dealt IN
/ LII. .nnlnn tAnn dil MT i.nnnrL ihnIn Naa