Now can any person, not to say any merchant, assert that fifty-seven cents a pound was a high price for the tin called Revely? Would anybody but a fool offer to supply the tin which in this prosecution is called Banca at fifty-seven cents a pound, when its original price was more than this, and the contractor must lose store expenses and interest, with the risks of currency, market, postponement of payment, and military tribunals, without the possibility of a mill for commissions? Clearly not. It is evident, therefore, that, in offering to supply Banca tin at fifty-seven cents a pound, they must have intended that species of Banca tin known as Revely, which, according to the usage of the Navy Yard and of merchants, had been recognized as Banca tin.
On this point we have the testimony of Mr. Richards, a witness for the Government, whose cross-examination thus confirms the foregoing conclusion.
“Cross-Question 37. What would it be worth to give a party the refusal for, say, five thousand pounds of tin for twenty or thirty days?—Ans. At least fifteen per cent.”
“Cross-Question 44. During the year 1863, how much, in addition to the cash market price, would you have considered should be added for a refusal of thirty days?—Ans. From, ten to fifteen per cent.
“Cross-Question 45. Tin being sold to us at fifty and three-fourths cents net cash in the market, would fifty-seven cents be an improper sum for us to charge the Government on a time refusal?—Ans. I should think not.
“Cross-Question 46. If you were to be subject to a delay of vouchers for merchandise delivered for thirty days, if there should be a reservation of twenty per cent until the contract was closed, and if then you were liable to be compelled to receive certificates of indebtedness that would not sell in the market at par, what, in addition to the cash market price, would you consider should be added?—Ans. From five to ten per cent, I should think.”
“Cross-Question 50. Upon a Government contract, to run three months or one year, with a reservation of twenty per cent, a bid being made which amounts to a refusal for twenty or thirty days, and subject to terms of Government payment, what would you consider a fair addition to the cash market price on a sale to the Government?—Ans. At least ten per cent.”
“Cross-Question 52. Among Boston merchants what is the character of the house of Smith Brothers & Co. for integrity and fair dealing?—Ans. A No. 1.”
Such is the testimony of a Government witness. In the face of this testimony, concurring with the reason of the case, it is hard to tolerate the allegation against these respondents founded on price. Indeed, it is hard to tolerate the allegation on any ground.
Under these seven heads, this whole case, so far as concerns the contract for tin, may be considered. It appears that the loss to the United States, from the delivery of Revely instead of what is called Banca, was not more than one hundred dollars in a mass of transactions amounting to more than one million two hundred thousand dollars; that, according to extensive and long-continued usage, Revely is included under Banca; that, according to usage at the Navy Yard, it was treated as Banca; that the whole transaction and the delivery were open and without any concealment; that Revely was actually accepted by the officers of the Government in performance of the contract; that the respondents never expected to supply other than Revely; and, lastly, that the price paid shows that Revely was intended. This is enough. I forbear to go into the evidence of founders and plumbers, derived from experience, of assayers and chemists, derived from analysis of the two tins, and also of business men, as to their comparative value,—for all this is superfluous. To charge fraud against the respondents under such circumstances is cruel, irrational, preposterous. Their conduct cannot be tortured or twisted into fraud. As well undertake to spin sunbeams into cables, or extract oil from Massachusetts granite.