Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-06-25

I
Interest certificates outstanding... l3,0s6 50
Interest certificates unclaimod..... 4,4ls IS
Domestic creditors certi6catcs...... 1lQ 81
Making the sum of the public debt,
funded and unfunded, interest bearing
and non-intcrest bearing, at that day,
$50, 1922, ,052 l6. These figures will be
found in the governors MESA 90, ex.
ecutire document, vol. l, 1866, pages
3 and a. Now, to verify the accuracy
OF this statement, | wish to call the
attention Of the house to the report of
the auditor general for the same year,
so that II may not be alleged that
these statements in the message OF
Governor Curtin were untrue. This
c6Sractter cf iSe pabcc 81 cTd DEBT On Tthc Est ist
of December, 1866, will bo found in
executive documents, vol. l, page 234,
in the report Of the auditor general,
John +. Hartranft, the present chief
executive Of the commonwealth.
This statement is also verified by the
annual report Of VIM. II. Kemble, the
then state treasurer. There can be
no doubt, therefore, oftbe correctness
Of this statement, unless the heads of
all the departments Of the state gov
ernment deliberately ialsi6ed the rec
ords in stating the amount and char.
acter of the public debt at that time.
| wish the house not to forget this,
because l will call the attention of the
members tot subsequent deliberate
Justification of the records and &C.
counts.
In the January following the term
of Office of Governor Curtin expired
and his successor was naugurated, on
the I'd day OF February, 1867. Gov.
ernor Geary approved an act passed
by the legislature providing for the
negotiation ofa new six per cent. loan
of twenty-thrce millions, in order to
take up twenty-three millions of the
five per cent loan then overdue.
This act was passed by the dominant
party, and for its wisdom or folly that
party is alone responsible. 1t is true
that s23, 100000 of the public loan
vas overdue, and if the creditors of
the state required payment it was not
only the rign. hut the duty Of tho
com monweaith to n:aisiain its credit
by rcdceming this overdus loan. which
could then only be dono by negSSat-
ing new one. But the creditors OF
the commonwealth did not desire the
five per cent. loan TO be taken up, and
as evidence Of this, it is only necessa.
ry TO refer to the famous correspond
ence between the then state treasurer
and August Belmont, the agent oftbe
Rothschilds, who represented a large
portion of this loan, aud TO the protest
entered by the capitalists all through
the country against having their Ave
per cent. bonds redeemed against
their will. We have never heard from
any member of the majority party
any Justification Of that item of their
financial policy-tbe negotiation Of u
loan Of twenty-threo millions at six
per cont. to redeem loan of twenty
threc millions bearing five per cent
interest, against the wishes OF the
holders OF that loan, tnus annually m
creas,ng cran the interest oi 'he puoi'c deot
szoo,Voo, oy wh'ch .he ,aSpayers aye $50 OF
the state have already iost si,ooo,VVo'
Inc act before referred 70, approx
ca FEBRUARY z, ieob pr9vides, among
al A ls.s
other things, "tnat inc governor, au-
uitor general anu state treasurer 20
ana are hereoy author'zea ana en-.