, 1859-03-14
A GREAT EVIL EXPOSED.
Treaxurers Specializing nPnblio Moneys.

Will LIE SURPLUS AdAEs IL s4V4 %4sboA1 AVA pup
ses Of private gain. It was this practice tha
caused The defa1cations OF three successive Stat
T,easurers in Ohio, viz Bliss, Breslin and Glib
son, during period Of twelve years. These de
falcatious have Inflicted a loss upon the Stat
Treasury not far short OF one million Of dollarsi
The Investigating Committee declare In thei
report the loan or deposit by Tfeasurers Of puhli
moneys, in banks and broken Offices, has led It
nearly all The losses and defacatlons Of the dsca
officers tf the State. They say With great en-
phasis that" the great first cause Of the evils II,
are discussing, in these preliminary remarks, ha
been the recognition Of banking Institutions as I
mart of the Treasury Of OHIO, or As ia any way es
eentla1 to the Transaction Of its legitimate bpsi
ness. There is not loss u the Treasury, tha
las not been occasioned dir<<tiy BY them. or bee,
tie consequence Of some policy sphieh thy haze in
itioted."
This is a startling truth, and justifes the wis
dom Of the provision in The Constitution Of 1lino
that requires the collection and disbursement 0
public moneys in SPECIE and tleif deposit for eaf
keeping In independent Treasures instead Of bro
kern Offices, for wild cat specuations, for the benef
ofthe Treasurer and the 'loving friends' that hov
er around, and buzz about him during bis ot1icia
term. On this subject VIC rnaks the following ex.
tract from the Report Of the Ohio Committee, one
Of whose members was Charles Reemclin, the
ablest political economist in that State:
But before we proceed to the examination o.
Mr. Breslins transactions and conduct 10 the de.
tail, It may not be improper to advert to the state
OF public opinion at the Tine aud for years preri
ous 10 his elec'ion, in regard TO tue right to Use
public treasure Tor the benefit Of the Treasurer
OF oi those having no legitimate connection with
il. for such explanation Of his conduct as it may
afford. We do not wish harshly 10 condemn er.
rors OF Judgment only, or to make one man rcspon
s;b!e Tor the errors Of who1B community, IL
Oaio, and We 1hink ne may venture to say in
many other States, the Treasury was considered
By many as the special and 1lghtta1 subject OF
banking depredauons, not in the way Of direct
aDstractions or tnetta OF money, but as af{arding
facilities to the shrewd within 1t and their friends
without, to become enriched without incur1i1g
r1sk Of loss or danger OF exposure II was so
much additional capital furnished BY the people
Tor the use Of the chartered few. The practice
had obtained, and was publicly known to exist
WITH but little comment, and without condemns
tlon, and WITHOUT law To ef1ectualy prevent It,
that the TleasuEers Of State and city, county and
townships we're deposltlng moneys in their official
Eeeplng, Will various banks ind bankers, upon
Which they received interest as q perquisite OF
their Offices, aud 1or which, OF course, they never
accounted to the State. Of other authorities their
depos tories, III the meantime, using tile funds
thus deposited, Tor their purposes. and stpnlatlng
to afford every facility to tue Tze4surers for con.
cea1ment. OCCASIONALLY, tue attention Of the
Legislature wouiu Ike cailcd to the subject; but
sonc RESOLUTION OF inquiry, i'll conceived for any
ef!tcual purpose Of exposure, and misdirccted By
some participant in the profit IN tie Legislature.
aud therefore easily avoided by those skilled and
practced in these illegal operations, would be the
only attempt at investigation. Thus. wear after
year, with the perfect knowledge on the part OF
the people aud Tie General Assembly that sucft
practices existed, both the Treasurer and his
repositories continued to erjoy perfect immu
uity from legislative inquiry and exposure: and
ernbuldened by SUCCESS. and enriched by these
unlawful gains, they grew more " liberal" and
more reckless OF risks.
But the number Of these 1pechcs una rnot N ta
decreased; aud new plans had been devised. and
othtr subjects secured, 10 satisfy their demands.
all that could be desired had been admirahIy
accomplished 10 1916, when, under tie bank laws
uew depredators, ia new forms, and sill more
tayenoos, were GRATED and scattered throughout
the state, thai they might feed upon couuty trea.
surers, and crjoya br,ei use Of the peoples money
teiore it reached its fioa destination, The State
Treasury. The county tieasuEers, and even town.
=.
ship treasurcrs, following the example ot those in
higher positions, were soon taught bv their nd
wj,at tasc ,h.v cnn1d :. r,aIa 1.ts aoo "1to
iocu+rinw .nv ';.te r,a,.4. a".E nhuou1
tn;n;onis ioad ia ''nn,o -. q. I've auotu 'neH
,fmsr. IL ,aoat;ons 49,. ~ sus'a.n tue e1stlng
1870 as,a,',;uh.ts I'll rae. no cuanefed pahks
t,nnt,,v and ioa. n, aa9!ner shaim OF more
Tue bankers and brokers-with 1wo and three per
ceut monlh p1oclfVltles and They. working in
dominated, elected or jeie1ted fha ~ N u1a ,.as
.wh" or .aca,nst'' them ia the;r efr,rts "''' "1'
When an hin. 9, treasurer was ion,,d .rho .ron11
listen TO no suggestions. ar1ll accede tn m dsnsnI
10 loau or depost, be was reuuesttj to ner,n,t 1is
nct h sy i;y,1s Ia oEs"teoa as currency ~ there
tl,i5 bandijn0. in The Way of "eIchanos y 1T,na
were alI rpceivenz of ,ha yh,;c .1nnna4 a
for LIE nurnnse or snsta;ninu th.So su'Aeu
the ssci,ri,v # tba Treeonsev anS ~. a,arp upo9
tlIe offc.r AA1 <Ae aue''s u
IN Intimately h1ard.d wa-. a.. ..:
of conntv srsa:nrer. 49, .raatI 10 ha ss*ns.cnoos
snms ,,a.,s ~ .ha go" stn ~ osuAeta, .na' 10
sdos r. r. ~ "a ~ 49,, ~ .no pe1aonal kno.l.
in ,,non c,1,-, > h,n.a. . VI to1h commls'
Ind rom tha 1arv Snnr. ~ ~. T9 IsuAer s,9os.
Bce nrotrnded ..H.nF =; vh;t. -;,h:a VI"
~" ~ H.n,s ero Hnite "Aa1n: occupy
ns1sh;n w;,h ~ rn,,n,- ""u.ns .ae sA9 IN pstt
oaned ,ha n.nnis,s u,s,a" 49, . 'ae .s oanker VINO
oer montb epd n.-h.ns ssa..o..a,e ~ sn.eo pe5 cen.
Fraa.nr.r esA"Ps 0eso''eo LOT INC
4trs.u t.omh.1st =. .....
[ornida hls a. 49, I'll. 20 lo1e1es!s "fFe
M H. tsa, .no p9.s. aau In ING tegnlasnre;
sar,ad ~ $3.50 .S 'ao. Pae'c oplnlon which
~ ;nd;S,1arsi ases. suS ases u Poono money for
'he,r fr;snds ! neot 'he uea'aIefe ana
,.na tha co,,,1 .1as,us, " 1.o1es ,nn once, o.
,ens; .oi.Esnd ~ 80 h5-.se san3;r eepositof5 OF
w. ~ I'll tad' y. sde tsce,set o. PUBIC mon'