The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1869-09-16

L VI tliC tllCC JSdio oIiiSS tLC wal
under the administration of Governor
Geary, they were: For the year ending
December lst,
1856. ....'.....-.............. $668,9O
1901. OBSERVATION-DISCLOSURES. o0Z,61o
1905 ,.......,...,...,....... $40 ,53s
The expenses of 1868, is thus seen,
are $245,5l8 greater than were those of
1864, one of the most expensive years
of the war.
Alfadmit that during the war these
expenses would necessarily increase,
but can there be any reason why they
should be nearly fifty per cent. greater
now, when gold is 1873, than they were
in 1864, when it was over 200.
The maladministration of the gov
ernment is the only reason that can in
truth be rendered for this frightful in
crease of expenditure.
The treasury ring is no myth, but is
hideous reality, and only those who
have watched its operations and seen
its Shiny fold again and again coiled
around men whose constituents elected
them as honest men only those who
have seen It's manipulation5 of men and
its almost universal succe. S in its move
ments, can justly appreciate the vicious
influence it eXerts. The treasury of
the State it regards as its inheritance,
and the money of the people as its leg
acy. To fill the Treasury and not pay
the deb5, to handle the deposits and
realize cent. per cent, from their skill
full manipulation, to redeem the loan
bearing five per cent. and replace it
with one bearing six, by an adroit ar
rangement with those in power, have
been some Of its exploits in the last
three years. Previous to 1867 the
mas. of our debt paid an interest of but
five per cent, but under the shallow
preteXt that it was overdue, the ring
enacted the law of Feb. ID, 1867, by
| which the Treasurer was authorized to
redeem the overdue fveper cent. loans
and replace them with a loan bearing
| six per cent. In this arrangement the
hand of Governor Geary is plainly
seen, for without his consent it could
not have been the law.
4 loan Of more than twenty-three
millions of dollars bearing interests at
the rate Of five per cent. was transmit
ed by this operation, intoa six per cent.
loan, and the amount of interest paya-
bic by the people, in 1866, was 81, l,892,-
105, was increaced in 1867 to $2,257,- :
033, or over $3.50, 600 of an incrase in
the first year. In 1868 we paid 81 ,979,-
$50 in interests, or $S7, 900 more than
we paid in 1866. The expenses of
placing the new loan paid by the
State was nearly $1,000, making an
aggregate of over half a million of dol
lars paid since 1867 to enrich the treas
ury ring. All of this twentY-three mil
lions of six per cent. loan is yet to
mature and upon it this year and each
succeeding year until payment, $780,
600 more of your money than before
was necessary, must be paid in interest
These figures are from the official docu-
ments, and the same documents
show that the State Treasurer had
in his hands, in 1867, an average
monthly balance ofover three and hall
millions of dollars, and in 1866, his
average monthly balance was over two
million three hundred thousand dollars
With these princely revenues at Their
command what could not the treasury
ring effect? Large fortunes flowed gent
Iy into the laps of these shrewd finan
ciers and they controlled every ap
pointment to power and place. No law
could be passed against their will ant
their assistance in legislation was 6
guaranty of success. No bill was ever
passed in which these men were inter
ested that was refused the signature o
the Governor, and he never initiated
financial movement against theil
will.
That corrupting and debasing inhu
ences surround and pervade the at
mosphere of the State capital, scarce
needs proof The closing hours of th'
last session of the legislature were full
proofs, of the wealth the power and tht
corrupt purposes of the treasury ring
and so vile and base have we become
and so plainly was the power of none,
in legislation proved, that the mora
sense of the people who hear me Woult
be shocked at the recital and the out
rauaOus character of the transaction
almost stamps IL is fal5ehood. Sucl
things could not he, had we firm ant
pure executive. The knowledge tha
the calm and intelligent scrutiny OF
capable and honest Governor was to b
fastened upon their deeds, and that TIL
veto power would be exercised in hold
ing them and their purchased privilege
up to the scorn and execration Of al
outraged people, would 60 far to dete
these men from corrupting the veal
and purchasing the corrupt The evi
is terrible reality. 1T confronts us il
high places and it saps the vitals of tn
State. The remedy rests with the pee
.. pie alone.
The vast increase Of the private leg
islation and themany corporate monop
olies granted, to the injury of the pee
pie, can best be shown by comparison
) of different periods.
Under the administration of Governo
Packer, during 1853, 1889 and 1860
there were passed total of 2,Ol9 bill
which became laws, or an annual aver
age of 673. During 1864, 1865 and 1866