The Great War Syndicate

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Almost from the beginning of this period of national turmoil, a party of gentlemen met daily in one of the large rooms in a hotel in New York. At first there were eleven of these men, all from the great Atlantic cities, but their number increased by arrivals from other parts of the country, until at last they, numbered twenty-three. These gentlemen were all great capitalists, and accustomed to occupying themselves with great enterprises. By day and by night they met together with closed doors, until they had matured the scheme which they had been considering. As soon as this work was done, a committee was sent to Washington, to submit a plan to the Government.

These twenty-three men had formed themselves into a Syndicate, with the object of taking entire charge of the war between the United States and Great Britain.

This proposition was an astounding one, but the Government was obliged to treat it with respectful consideration. The men who offered it were a power in the land,--a power which no government could afford to disregard.

The plan of the Syndicate was comprehensive, direct, and simple. It offered to assume the entire control and expense of the war, and to effect a satisfactory peace within one year. As a guarantee that this contract would be properly performed, an immense sum of money would be deposited in the Treasury at Washington. Should the Syndicate be unsuccessful, this sum would be forfeited, and it would receive no pay for anything it had done.

The sum to be paid by the Government to the Syndicate, should it bring the war to a satisfactory conclusion, would depend upon the duration of hostilities. That is to say, that as the shorter the duration of the war, the greater would be the benefit to the country, therefore, the larger must be the pay to the Syndicate. According to the proposed contract, the Syndicate would receive, if the war should continue for a year, one-quarter the sum stipulated to be paid if peace should be declared in three months.

If at any time during the conduct of the war by the Syndicate an American seaport should be taken by the enemy, or a British force landed on any point of the seacoast, the contract should be considered at an end, and security and payment forfeited. If any point on the northern boundary of the United States should be taken and occupied by the enemy, one million dollars of the deposited security should be forfeited for every such occupation, but the contract should continue.

It was stipulated that the land and naval forces of the United States should remain under the entire control of the Government, but should be maintained as a defensive force, and not brought into action unless any failure on the part of the Syndicate should render such action necessary.

The state of feeling in governmental circles, and the evidences of alarm and distrust which were becoming apparent in Congress and among the people, exerted an important influence in favour of the Syndicate. The Government caught at its proposition, not as if it were a straw, but as if it were a life-raft. The men who offered to relieve the executive departments of their perilous responsibilities were men of great ability, prominent positions, and vast resources, whose vast enterprises had already made them known all over the globe. Such men were not likely to jeopardize their reputations and fortunes in a case like this, unless they had well-founded reasons for believing that they would be successful. Even the largest amount stipulated to be paid them in case of success would be less than the ordinary estimates for the military and naval operations which had been anticipated; and in case of failure, the amount forfeited would go far to repair the losses which might be sustained by the citizens of the various States.