The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1859-09-21
Rapeal of the Sub-Treasury :
Let the People be Warned.

The speech Of Mr.. Dennison, al Lebanon
furnishes fresh evidence Of the determina
ton OF the Republicans to repeal the Sub
Treasury law il they unhsppiIy succeed fl
carrying the October election. He avowl
himself in favor of going back to the system
OF dePositng the public money with banks
and bankers, requiring from them proper Sc
curity for It's safety. This might be less OBJ
jectionable, provided the peoples interests
were the same as Mr.. Dennison's. But the
Republican candidate for Governor is q
banker, and in past years as a director and
stockholder in a large banking institution
he has made handsome profits by the use Of
the publis funds. Hence, Mr.. Dennison's
individual interests, and those of the public
are different. He risks nothing--the public
risks all. The public makes nothing--he
makes all.
But waving all objection to the deposit
system as means of enriching the bankers
by the use of the public's NOR ey, there is
another consideration which is conclusive
against 1t. We refer to The aids rhich The de.
pos" system brings ,Oifhin the reach of the
Treasurer in covering up and concealino the
true condition of The Treasury. What was
mr.. Kelly's experience when seeking, at
The head of the Finance Committee, to as
certain the actual condition of the Treasury
by close personal examination and secu.
rlty OF IFS vaults, money, drafts, certificates,
books and papers! 1t was this Gibson
was without the proper amount of money,
but in lieu thereof he spread before Mr..
Kelley drafts and certificates of deposit is
sued TO the Treasurer for the purpose of de.
ceptlon. The stratagem succeeded, and the
noble efforts OF Mr.. Kelley we're foiled bv
the joint rGscality of the banks and The
Treasurer. BY the same process Senator
Taylor, the present Republican candidate
Tor Auditor OF State, was deceived as the
real condition of the Treasury. In like
manner Auditor Wright, with very evident
satisfa actioD, reported to the Governor that
he had subjected the funds of the Treasury
TO an ACTUAL COUNT" and that the funds
of the Treasury was in sound condition. II
AT the very moment these three separate
examinations were made, the Treasury Gas
has since been ascertuined) was bankrupt to
an amount exceeding half million of dol.
lars. Mr.. Kelley, Mr.. TayI Ior. and Mr..
Wright, each counted the certificates of de.
Dosit as money, and in this each was deceiv.
ed and blinded as to the true condition ofI
the Treasury. !
1t will not do to urge that this means of
deception can be obviated by requiring the
Treasurer at quarterly periods in each year
to recall his deposits and have the money
Itself in the Treasury ready for actual in.
sPection and count. Examin ations confined
10 fred days or weeks OF the year, would
prove mere mockery and delusion. Banks
and bankers could readily provide the money
needed for each stated examinations, and
AXE it back into their own possession, all
within forty eight hours. This is a truth
which should never be lost sight OF or be for
!otten. Examinations of The Treasury
should never be fixed to specific days, or lin.
Ted as to number. To secure this Iimita.
ion was one of the great purposes OF Bres.
ia g friends in the Senate in l853-'54. The
Treasury should always be subject Gas it is
nder the present excellent Democratic
nw) to examination on ony day OF the year,
nd without notice to the Treasurer. Aly
hing short of this is mockery; and even
his, If bankers certificates of deposit were
. be counted as money, would be inconcu ',
i've, and utterly barren of substantial good. s
-Nepark Advocate.