Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1872-09-04
Meat for the Ring.

Among the covert things which have
been proven against General Hart.
ranft is his full fellowship and guilty
completely with the notorious Harris
burg Treasury Ring, Of which Simon
Cameron is the recognized head,
Robert Macley and Don Cameron ac-
tive working members, and numerous
State Senators and Representatives
moro or less prominent agents and
abettOrs.
This completely is completely estab-
lishod by testimony which cannot be
gainsaid. His action as one of the
three Commissioners of the Sinking
Fund has, in several instances thus far
brought to light, been in favor of the
corrupt plundering Ring, and against
the interests of the people. In the
spring of 1871 when there was a mil.
lion and a quarter of public money
idle in the State Treasury, Hartranft
and Mackey, the Treasurer joined in
written communication to the Senate
Finance Committee, urging that new
loan be authorized for five million dol.
lars At this very time there was
S343, ,63320 of the per cent loan Of
June IL, 1910 remaining unpaid and
nearly year overdue which the law
imperatively required should be paid
as fast as possible. Instead of apply
ing one ioruth the balance in the Treas.
ury to the liquidation OF this loan,
these two Commissioners of the sink.
ing Fund made a bold and dctcrmin.
ed effort to borrow FIVE millions more
at high rate Of interest.
Hon. Francis Jordan, Secretary OF
State, who was the third member OF
the board, refused TO sanction this stu
pendous job, and endorsed the follow
ing emphatic protest on the back oi
the recommendation.
"This board has been struggling fol
the last four years TO reduce the large
unexpended balance Of over 81, ,000, 900
in the sinking fund, and having al
last succeeded, by redemption Of The
public debt, in reducing said balance
to about one million Of dollars, an
unwilling to advocate the immediate
borrowing of money to increase il
again. The payment of the public
debt with the surplus funds on hanC
would seem to be a dangerous fnan
cial operation, If for eUery million re
deemed three million hare to be borr0iO
ed to take IFS place. Unable TO realiz,
or appreciate this danger, for the rea
sons here briefly stated, and believing
the proposed loan not required by any
sound public policy, | am unable Il
unite in suggesting it to the Legisla
ture."
This protest, aided by the actor
and strenuous opposition of Senate
Biiiingieit, OF the Finance Committed
scotched the scheme in its incipicncy
and now the Ring journals would fail
deny the whoic Transaction, hal al
the details of il are known TO severa
incorruptible men, whose silence cal
neither be bribed nor coerced. W
dared them some time ago to bring
denial of this charge from Seeretar,
Jordan but thero has been no response
Does any unsophisticated taxpaye
ask what the Ring wanted with th
five millionsg We will tell him. The,
wanted to enrich themselves, as the,
have long been doing, and make up
corruption fund for the reelection Q
Simon Cameron to the u S. Senat
by lending the money in violation Q
the law, to stock ,jobbing brokers lik
Yerkes and shnky shaving shops il
various parts of the State. Press.