The republic. [volume] (Washington [D.C.]) 1849-1853, 1849-08-11
THE REPUBLIC.

we had supposed. We find the law to be
more pointed in its application, and more
stringent in its provisions, than we had
supposed. We find high functionaries OF
State implicated in transaction which,
we had imagined, involved only disburs-
ing agent in dereliction Of duty.
There is still another section of the Sub
treasury act to which we would ask atten-
ton in this connexion:
"SEc. l6. find be il further enacted That all Off
GERS and other PERSONS charged by this act, or any
other act, with the safekeeping, transfer, and dis
oursement of the public moneys, other than those
connected with the Post Office Department, are
hereby required TO keep an accurate entry of each
sum received, and of each payment or transfer;
and that if any one of the said officers, or Of those
connected with the Post Office Department, shall
convert TO his USE in amy toay ohateUer, shall
USE BY ,cay Of Investment in any kind Of property or
merchandise, shall ioan ,ciih ioiih0ut interest or
shall depose in any bank shall erchange for other
funds, except allowed by this aci, any portion Of the
public moneys inir,sied 10 him for satskeeping, dis
bursement, transfer, for any other purpose, epsry
sch act shall be deemed and adjudged to be an snbes-
slement Of much of The said moneys as shall be thus
taken concerted, inpeslei used oaned deposited or
exchanged ohch is hereby declared 10 be felony; and
any failure to pay over or to produce the public
moneys intrused to such person shall be held and
taken to be prima tace evidence of such embezzle-
ment; and if any officer charged with the dsburse
ments of public moneys, shall accept or receive, or
transmit to the Treasury Department to be allowed
IN his favor, any receipt voucher from a creditor
of the United States, without having paid to such
CREDITOR in such funds the said officer may have
received for disbursement, or such other funds as
he may be authorized by this act to take in ex-
change, the full amount specified in such receipt or
voucher, every such act shall be deemed to be
conversion by such officer to his own use Of the
amount specified in such receipt or voucher; and
any officer agent Of the United States, aud all per-
sons advising participating in such act, being
ricted thereof before any court Of the United STATES Of
competent jurisdiction, shall be sentenced to imprison-
ment for term of not less than sir months more
than ten years. and TO fine equal 10 the amount of the
money embezsled And, upon the trial of any in
dctment against any person for embezzling public
money under the provisions of this act it shall be
sufficient evidence for the purpose of showing
balance against such person. to produce transcript
from the books and proceedings of the treasury as
required IN civil cases, under the provisions of the
act entitled AN act to provide more effectually for
the settlement of accounts between the United
States and receivers of public money! approved
March third, one thousand seven hundred and
nnety-seven; and the provisions of this act shall be
construed 10 apply to all persons charged rith the
saekeeping, transfer, disbursement of the public mo
ney heer ch persons be indicted as receivers or de-
positares Of tie same; and the refusal of such pers
whether in out of Office, pay any draft, order,
or warrant which may be drawn upon him by the
proper officer of the Treasury Department for any
public money in his hands belonging to the United
States matter in phat capacity the may hape
been received may be held, TO transfer disbv,e
any such money promptly, upon the legal requirement
Of amy authorized officer Of the United States shall be
deemed and taken, upon the trial of any indictment
against such person for embezzlement, as prima
tacie evidence of such embezzlement."
The object of these provisions is obvious.
They intend that no private use shall be
made of the public funds. The great evil
that the Sub-treasury act was designed to
correct was the alleged conversion of pub
lie money to purposes of private specula-
ton. 1t therefore declares that any in
vestment of public money in any kind of
property or merchandise, or any conversion
to pirate use an any way whaterer of the
public money, is a felony. 1t then de-
clares, in language as explicit and positive
do ldiiSud Cdu well NC, tndt oil OulCcTs
or agents Of the United States, and all per-
sons advising or participating in such con-
version, or loan, or investment in any kind
of property or merchandise, of the public
money, shall be sentenced, on conviction,
to fine and imprisonment for the embezzle-
ment. The provisions with regard to fell
ony and embezzlement are then declared
to extend TO all persons charged with the
transfer and disbursement of the public
money, no matter IN What capacity the same
may hare been received or held
1t will be seen that this law covers pretty
broad ground. The money in the present
case, we are told, was lost in commercial
speculations. The money was invested in
"consignments to various American and
European houses,' which failed, and their
failure caused the failure of the CONNER
cial house in Richmond But, that we
may not be accused of misrepresenting the
transaction, we give the account of it in
the very words of the late official organ
"The defalcation, whatever be its amount, was
not occasioned by robbery, but by the commercial
embarrassment Of house in Richmond, which was
N transmit the Government funds to Mr.. DENLY in
France; and that house was ruined because Of the
ruin which the revolution in France had brought
down upon the house there, TO which the Richmond
house had made It's consignments The drafts were
returned protested from France, and Mr. Denby's
drafts shared a similar fate"
How, then, came this money to be in
vested in merchandise How came it to
be converted to private use in any manner
whateverl The law forbids any such con-
version or investment, and pronounces it
per Sc embezzlement and felony. Who
advised or participated in such conversion
or investment Did Mr.. DENBYi Did Mr..
OsBoRNEl Did Mr.. exSecretary MAsoN'
We look with great interest for the further
developments on this subject promised by
the official organ of the late administration,
and the legatee of all its derelictions.