Rapides gazette. (Alexandria, La.) 1869-187?, 1873-11-01
The Mysteries-of Finance.


On the eleventh of September Auditor |
Clinton gave notice that he would, ON tho |
fourteenth Of Oct0ber, sell to the highest |
bidder, payable in State warrants, the |
into the treasury to the credit of the gener- |
al fund" On the twenty-fifth of September
the banks suspended paying currency to
their depositors, and the fiscal agency fol-
lowed suit, it appears, and offered certified
checks to the States creditors.
On the second Of October Treasurer Du-
buclet swOre to his usual quarterly state
ment, which showed there was balance
on hand of twenty four cents to the credit
of the general fund, which led warrant
holders to suppose that some Of the bidders
at the sale Oh the fourteenth would be re-
quired to receive certified check to that
amount IN settlement, as it was not posi-
lively Known whether the twenty-four
cents had been deposited before or suisse
quent to suspension. II was understoad
that all deposits in cash, after the twenty
fifth, would be paid out in cash on demand,
aud, as up the secsnd of Octobet there was
only few cents involved, no concern was
felt in the matter. 1t was known that ac-
cording to law money in process of going
nothing else would be- received from tax
collectors.
At the same time, however, that Mr.. Du-
buclet made his statement showing there
were twenty -four cents left in general
funds, the Auditor submitted b statement,
in compliance with the order Of the Cover
nor, in which it appeared there was a bal
ance of over two hundred and fifty tlious-
and dollars. Such differences betwee the
book-keeper and the cashier of the treasury
is of course, irreconcilable. In the state
ments heretofore made by these two off,
GERS, their balances have agreed to cent.
In the case referred to the Audito charges
there is more than quarter of a million of
dollars on hand. The Treasurer can only
find twenty-fOur cents. Subsequent events
proved that neither was quite right, for
when the day of sale came it was discover
ed there was but Sl29,075 20, of which
amount $50, 1888 46 was represented by GER
titled checks, and S4S,l4l "a in cash. At
any rate that is all that could be spared for
the purpose of buying State warrants,
which were offered at an average Of less
than fifty cents on the dollar for the mixed
currency.
The difference between checks and cash
at that time was about five or six per cent
in favor of the latter.
Possibly all might be explained by any
one thoroughly acquainted with the mys-
teries of finance, for there is q dense mys-
| terry that surrounds the whole transaction.
| Where was that quarter Of million bal
ance found by the Auditor on the twentieth
of September, and published on the first of
| October, when the Treasurer reported only
twenty-four centsf
Where was it on the fourteenth of Octo-
Der, when the Auditor could only find Sl29,
O75 20 to offer at his sale, though twenty
four days after, and quarterly settlement
with all the tax collectors in the State had
been made in the meantime, or ought to
have beenf
How does it happen that, with twenty
| four cents in the treasury on the first of Oc-
tober, more than eighty thousand dollars
in certified checks crept in before the four
teenthf Who furnished these checks, and
what was done with the cash they repre-
sentedf Is it the fault of the fiscal agent,
the tax collector, the Auditor or the Treas
urer, that SO much good money became de-
preciated in such q short t'mef
We have been informed that Mr.. Dubu-
clet has refused to receive anything but
currency in his settlements with tax col
lectors. He declined to receive State war
rants to tho amount even of the two mills
authorized by law. 1t is hardly likely that
he would do this and afterward receive cer-
titled checks, Of unfixed value, and of no
soiidity as q legal defense.
There il something very unsatisfactory
about his transaction. At one time we
are assured by an offer who ought to know
that there are only twenty-fonr cents in
the treasury. Another officer; who posses.
ses equal facilities, informs us about the
same time there is more than a quarter Of
Q million, but when he comes to look
around for it to settle for his purchase oil
warrants, there is only about halt the
amount on the fourteenth that he thought
he had twenty-fonr days before, and only
onc-third of that in CASH.
We fear that our State officers have been
cruelty imposed upon by somebody. Either
the tax collectors of the Fiscal Agent must
have played them u trick. The Auditor
has been so unfortunate as to have his pre-.
dictions strangely miscarry, which, in turn
causes great public inconvenience.-(N. o
Republican.