Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1853-09-07
$l,477.20o 90
95I,836 25
$95l.836 25
Amt lost 10 State by
Federal Financier-
$5a5,363 rs


inr 1896, 1868 rs
When it is reflected that this large amount of
money was lost to the State, and to the people,
by the Wing Financiers, who then ruled the
monetary affnirs of the State, by the sale of Ohio
stocks, drawing an annual interest of six per
CART. which but a few months before stood above
par, the mind is lost in amazement, and was it
not that we have proof from under the hand of
Alfred Kelley, G. Swan, and N. 1T. Swayne,
themselves the men who made the sacrifice, not
only of money but of the credit of the State it.
self we would be strongly tempted to believe
that some mistake existad-that it could not be
; true. But we have it in an official document
from under the hands of the men implicated, and
its truth cannot be denied The largest amount
realized on any of the stocks sold was eighty
cents the dollar, being a loss of twenty dollars
on each one hundred sold. On two of the sales
for 900 each, the one made on the 18th OF
march, the other on the 26th of the same month.
tn, sum realized was but 1000, they being
sold but for fifty cents on the dollar. On the
other sale of $4,000, the loss was four thousand
three hundred and eighty-seven dollars and fifty
cents. On the other sale of 100000, made on
the 10th of March. the loss was over 49. coo dol
lars.
On the $525,363 IS thus lost-thus squander-
ed or given away to the brokers, and for which
not one single cent was ever realized the people
ofOhio have, for the last eleven years, paid an
interest, every six months. at the rate of six per
cent per anHunn. amounting TO dS3f ,02l o22
year, and for the whole eleven years, to the sum
of three hundred and forty-six thousand seven
hundred and forty dollars and one half cents,
making the entire sum. principal lost and inter-
est paid, lost in one year by Federal Financlering.
EIGHT HUNDRED AND SEVENTY TWO
THOUSAND, ONE HUNDREDA THREE
DOLLARS, EIGHTY-TWO AND ONE
HALF CENTS! When to this large amount is
added the one hundred thousand dollars, with in
terest for years, which, not only without authori-
ty of law but in direct violation of it. loaned
TO rotton Insurance Company in this city, by E.
N. Sill, JOHN WooDs and ALBERT A. BLISS, all
leading Wings, the former acting and the lat
ter as advisory members of the Board of Fund
Commissioners, we have, in round numbers, ONE
MILLION DOLLARS lost to the State by Fed
eral Financering and Federal msmanagement,
and all of which has to be made up by the taxes
HIGH!
Judge SWAN is a banker, and is at the head of
the State Bank system af Ohio-Mr. Kelley and
Mr.. Swayne are both largely interested in Banks,
as is also, if we mistake not, Messrs. Sill, Woods
and Bliss. These men, who thus squandered one
million dollars of the peoples money, are OPP
posed to taxing their Banks to aid in making up
the loss, which alone can be made up by taxation,
but they have no objections to seeing the people
tuxed,-deeply and heavily taxed-provided they
are not called upon, as bankers, to pay their hon
est proportion of debt, brought upon the State
and the people by their gross msmanagement, to
give it no harsher name, of the peoples money
These facts should be kept before the people,
Ohio State Democrat