Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1872-10-02

upt purposes Tue SuWEe vV"so VI WV
sinking Fund Commissioners. Anoth'
,r specific charge In the same commit
nication. was that about one hundred
thousand dollars of the State money
was in the hands of the broker Yerkea
when he defaulted, and that Treasurer
who was responsible for this
loss, did not make II good, but depos-
tied in the Treasury vaults q check
for the amount on Pittsburg bank
with which be had no such credit, be-
ing poor man, and that, therefore,
such check, like numerous others in
the vaults, was worthesss paper
The Camerons, whether directly or
indirectly, being Mackey's hackers,
would, Of course, be called on TO make
up this cool hundred thousand, with
how much more OF similar losses the
outside public did not know, unless
they could maintain their grip upon
the Treasury until through luckies
speculation with the peoples money
they could recover the amount.
These wero the charges made by
our Harrisburg correspondent in that
particular communication, and most
of them are abundantly confirmed by
Messrs. Lewis and Schafer's report
of their examination. They say thas
they found by the cash account that
"Mackey was responsible July 8 for
s2,l29, 1856, and that So. .063. 1874
of this amount, or all but some sirty odd
thousand, ,oas in the possession offtty-
four banks and bankers in varions sec
tions ofthe State"
Does not this directly sustain the
charge that the public moneys arc
parcelled out to favorite banks and
shaving shops2 The names of the
banks and bankers, unfortunately,
are not given, or it could be shown by
the same excellent authority how large
a par. of this money is handled by
the Cameron family in its various
branches.
The annual interest on $1,000, 900
at only six per cent. is 0,000, but
in tho hands of shrewd brokers that
large sum can be made to yield far
greater dividend. Here, then, is one
fruitful source of income to the
Treasury ring, clearly revealed by the
rings own witnesses. No wonder
Messrs. Mackey and Hartranft were
so anxious to obtain s5,000,000 more
by new loans II must be remember-
ed, too, that the law not only pro-
hibits such speculation with State
moneys, but requires that this upex-
pended balance shall be applied as fast
as possible to tho extinguishment of
the overdue loans. Why is not this
done, and the State thereby saved an
annual outlay for interest of over
500, DOOR Instead, the Treasurer
and Auditor General become silent
partners with banks and with rcspon-
siblo note-sbavers and stock-specula-
tors like Yerkes, thus imperilling the
l
peoples money and doubly violating
the law.
OF course there was ample time
between June 4, the date of our first
exposure, and July 10, when the ex-
animation was made, to fix up that
5 check of Mackey for sl00, 900 and tho
other suppositious paper in the vaults.
Any one of those favorite fifty-four
banks would in common gratitude ad-
. vance for q few days, or till all OK
: pected examinations were over, tho
, amount required to balance tho ac-
count, or, what would be still easier,
/, accept for the time being those worth
Q less checks and account for them az
State money on deposit. So Messrs,
4 Lewis and Schaffer naturally have
$ nothing to say about these little mat
+ ters. Doubtless they found tho cash
3 account apparently square. They
= could not question the bank reports.
They also certify to having exam
t ired certain specified bonds in the
: Sinking Fund Department, amounting
y in all to 80, 100000. These tally &C
far as they go, with the report of the
n Auditor General for 1871, but the lat
!, ter contains in addition a statement
0 of stocks held by tho Commonwealth
II in various corporations, amounting in
tho aggregate to sl,75i,S2l62. The
$ examiners appointed by Mackey dc
: not mention these, nor include them
$ in their aggregate of the securities
J, belonging to the State. This is al
{ least singular omission.
Q Let it be understood, however, thai
!, We have not charged that these secu
rites (stocks, bonds, etc.) have boor
l. converted to an improper use. Ther'
has been no such count in our indict
o mcut against the Ring, though th'
fear has been expressed that II tha
Q corrupt body obtained control Of nj
y the executive departments, with thei,
Q well-known facility for buying up th,
i Legislature, these securities would b,
Q in great danger So far as this poin
d is concerned, then, Mackey has bee,
g demolishing bis own man of straw
Aud it is the only thing he has do
i moisheJ. All the charges we hav,
+ made remain thus far unreiutod.
a