Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-07-30

torms with "tho Government" and
therefore cannot bo charged with mis-
representing affairs, in alluding TO the
Harrisburg plan Of banking, says:
Charges src persistsutly made that the United
States Treasury does not hold the amount Of gold
that the Treasury daily statements put forth, a
charge Of sufficient importance TO merit the attsn.
tion of the Secretary Of the Treasury. Itisprop-
or to sny that the daily reports from Washington
Of coin and currency balances arc not Official. 40
that calculations founded on thcm may be nt fault.
Within ten days the Official statement Of the pub
lie debt will DO rendered, and II tho Secretary
does not choose before that time to make an OH
cial exhibit hc will then have the opportunity to
do so, when the mattor will be discussed more In
telligcntly. But just at present tho belof is
abroad that certain large bankers are permitted
to deposit ther checks, 10 the place Of the gold
realised from tho transactions, rs representatives
Of the Government, and tho public 10 permitted
by the Warrington once TO sccept the statement
that thirty.six or thirty mine millions represent
actual gold, Instead Of being partly made up Of
tho duo bills Of those merchants who ore trading
on tho public credit VI the nation. This, u un-
true, should BE- denied and set right, and II true,
exposed, that it may be properly rcProved.
This Is precisely tho plan Of Cam
cron, Mackcy 4 Co., at Harrisburg =
The State Treasurer annually reports
q balance Of about one million three
hundred thousand dollars In the Treas
ury, when there is not tho ono.thir-
tecnth part there in money. But in
stead, there is TO bc found 10 pigeon
hole o note OF Don Cameron's for
s200, 900; j. Il. Ridgway Il Co., arot
ton banking concern in Philadelphia,
have note there for 100000; q
cashiers check Of the Middlotown
bank for $4,000; tho chock of a Leb.
anon and Lewisburg bank for sim
liar amount each, while Mackey's own
check drawn on his Pittsburg bank
for 100000, is in the same hole, be-
sides those of banks at Huntingdon,
Altoona, Williamsport, Norristown,
and Sunbury, ranging in sums from
$4,000 to $4,000 each. Thus the
balance in our State Treasury has
been used by these banks for years for
speculative purposes, without paying
any interest to the State, while the
taxpayers Of the commonwealth are
compelled to pay interest on this same
money, used by these bankers TO en-
rich themselves.
Why do not our State authorities
take this money and redeem State SO.
curities and stop the interest? We
again ask: Why not save the tax-pay-
ers of the State at least $50, 900 annu-
ally, by using tho balance in legiti-
mate way, instead Of allowing these
banks 10 use it, out of which they coin
from Is TO 20 per cent? How much
is this method Of doing business above
that of the common highwayman p
Is it not simple robbery, too =? If the
treasury affairs Of Clearfeld county
were managed in a similar way, what
universal indignation would come from
every loyal throat within its borders.
And yet, what is TO prevent it? lfit
is endorsed as christian and loyal
virtue, to rob the people at Washing.
ton and Harrisburg, what is to pre-
vent that virtue from spreading all
over the country?
A burst of holy horror and indigna-
tion has gone forth because a band of
frcebooters upset train of cars on
the Pacific railroad last week and
robbed the express of no less than
$4,000. Yet this is but little over
half tho sum which each member OF
Congress stole from the United States
Treasury in March last. What kind
of morals and system Of economy is
the country being cursed with any
how? 1t would indeed be strange,
and VIC are astonished at tho verdaacy
of the Ledger man, if the robbers
game, practiced at Harrisburg, is not
also played at Washington. Is any
body green enough to suppose that a
change of locality would produce q
revolution in Simon Cameron's system
Of robbery, which he has practiced
for forty years, or improve his NOR
ais I? No. Instead of there being
from thirty to forty millions Of dol
lars in the United States Treasury, at
the end Of each month, there are not
fivo millions. Two hundred banks
and branches use no other capital but
this, which costs the taxpayers too
million four hundred thousand dollars
annually in the way of interest. Such
is the loyal mode Of banking, Com
pei the ax-paycrs to furnish the CAPT
tai and mako them pay the interest,
and il any of these boobies want to
get discount or loan then charge
them from twelve TO twenty per cent.
for the ACCOMMODATION, and tell
the customer that no other man could
have been accommodated at this time
but him, as the bank is hard up, etc.
If the people are foolish enough TO al
low this system of public robbery to
continue for five years longer these
banking freebootcrs will become as
daring as the Iowa gang, and not on
ly compel the owners Of property to
furnish their capital, but they will
compel farmcrs and lot owners TO pay
thcm n rent for the property they have
earacd By the sweat of their brow.
There are more public robbers housed
al Harrisburg and Washington and
the capitals of our southern states
la 4 A. A