The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-05-06
nAEEY .gOURNAEl
FRIDAY, MAY 6, 1870.
[Fiotn the indianapolis Journal
An Old Score settled--A Democratic
Debt saved 60 the State.

State versus billiard Ricketts,, ct al.
which involves the $133. 600 abstract
ed from the Common School Fund
under Democratic auspices, anC
which it was greatly to be feareC
would never be recovered. 1t is 1
matter of surprise and qualification tt
be able to announce, Ghls morning
that this debt has been recovered bJ
Republican officers, the State and the
school children saved from loss, and
another item added to the long list oil
credits for the administration of the
Republican party in Indiana.
In 1864, Mr. w. III. Talbot was
President of the Board Of Sinking
Fund Commissioners, which then
controlled the School Fund Of the
State. There existed in the city oi
New York the banking house of III,
j. Lyons Il Co., the Company be.
ing Mr.. billiard Ricketts,, a member
Of the Sinking Fund Board, and q
Mr.. Simmons. brother in law Of Lv-
ons. Some time in the fall Of 1864. q
Mr.. Ricketts, said to Mr.. Talbot that
| he would like to be complimentcd
with a small deposit" acting upon
which suggestion, deposits were made
Co.'s Bank amounting to $133, ,281 Ia.
Then succeeded some gold specu
lations, INDUCED IN by certain prom
inent Democrats Of this city, who
operated through Lyons & Co. as
their brokers. 1b cut a long mat
ter short, these Democratic specula-
tions, on the defeat of the Federal
Government by the Southern rebel
lion, proved disastrous, and Lyons
x Co. suspended, with this large
amount of Indiana funds held as an
individual deposit Of Mr.. Talbot.
| The latter succeeded In obtaining col
laterals to the amount of $50. 900. with
security, which were afterwards real
i7ed upon during the incumbency of
Auditor McCarty, leaving still un-
paid about $4,000. This sum the
bank firm refused TO account for un-
ill the gold gamblers made good their
shorts" Lyons q 70. alleging that
the understanding with Talbot was.
that the sinking fund deposits were
to be considered margin for the on.
erations of John NJ Talbot and Mr.
Aquilla Jones. This is briefly the
story, as appears of record in the ro-
port of the Legislative Committee.
The Democratic abstraction of
eighty Thousand dollars was still nm
paid when Auditor Evans came into
Office. Suit was entered in Clarke
County, and judgment obtained
against Ricketts, for the outstanding
amount. It appeared impossible to
realize anything on the judgment, but
by vigilance and skill, Mr.. Evans has
at last compelled settlement, on
Monday Of this week cash and ample
securities being turned over to the
State, which makes the School Fund
intact, to the full amount of the prin-
cipsl OF the debt, with six per cent.
interest from the date of its abstrec-
ton.
In announcing to the people of In
diana this very pleasing fact. two or
three prominent reflections seem
proper to enforce upon their atten-
ton:
Frrst-One huodred and thirty
three thousand dollars Of the school
moneys were taken by Democratic
official. aud deposited in a banking
house, about whose financial sound
ness in those troubious times, to say
the least. there was a reasonable
doubt However honest the inten-
ton Of Mr. Talbot 10 making the de-
posit might have been, it was consid-
cred by the bauk as a margin upon
which other Democrats Gambled in
gold against the life of The GoUerR
ment.
Second The State was loser to
the amount of eighty thousand dol
lars, the collection of which was de.
voived upon Republican officials. 1t
is safe to assert that, had the Auditor
been a Democrat, and the Admins
tration a Democratic one, not one
! single dollar would ever have been
returned to the State Treasury.
Third-That no attempt was made,
or disposition evineed. by these debt
ors TO the State to make good the
loss, until, by the vigilance and tact
of the Republican officials, they were
placed in a position where they were
| absolutely compelled to make settle.
ment. A letter from Chicago, recent
ly published in the Journal, gave our
readers some idea of the course pur-
sued to effect this.
F0urth-This is the first time,
within our recollection, where the
y
amount OF such a debt, with legal
rates of interest. We believe we are
safe in asserting that it is absolutely
the first time in the history of the
State.
Frfh-Tbrough the honesty and
faithful labor Of Republican officials,
the school children of Indiana have
been saved from the serious loss of a
portion of the fund sacredly set apart
for their education. the Common
School Fund being now as if the alb
straction had never been made, the
interest being paid just as though the
money had been lying constantly IN
the vaults of the Treasury.
These points are proper to make, in
view OF the adjustment of this cele-
brated account, in the face of the
almost daily sermons the Sentinel
aud other Democratic papers
are preaching, about the neces-
sity Of a return 10 power Of the
Democratic party. We can not re
frain from complimenting the State
upon the services of Hon. John ID.
| Evans, the Auditor of State. To his
untiring industry, faithful and per-
severing efforts. and more than ordi-
nary business tact and ability, is dWe
the successful closing of this extraor-
binary transaction. The voters of the
State will remember him with graft
tude, as they will remember the Re-
publican party, for saving to them one
hundred and thirty-three thousand
dollars of Democratic gold gamb-
ling debt.
- -
[F-om the Detroit Free Press
Mete0roIogy for Nav.