, 1873-12-19
will wait to SEQ how far cIr farntas goes In this co
C1TY TnEAHun1EH.
st. Louis Democrat sroaks M follows Of


the yarious syytoa1s Of koopinN public funds:
Tie largo defatcaion Of the cltcaBo City Trcasuror,
David 4. uagu, which reported ut lenB!h In ynh-
~ e. yorr M % ." or e9 a so9
,noncy deposits III TINT wrog III 'ss fundamental r-
ciple.
hsos le rst Is 10 gvc M Tho Ireas"gsr n,
ony "a u u epo s sp
iol from him for tl,s fntthfnl return of Tic balance
IN n. hn,,s y % o ITO md ot hs sr to tha e,ty The
proposals on ts rart It bankn to 70 oivo seh public
mr. mud sw"r tue asp01s 1 .ccern1g oe
~ s'''ts: s ,a.!s! sS se'p02s
pnio corporation shouii Thrust ita moneys my prl-
yatc 'nni, hut eaonld itec!f n.s,1mo the tptk and
CTR Felo%,a % uosernsm ILL., last IL ' cpea lns sai,.
Treasury syatcn,, nn was introduced for tho very
r,r1oso If eyn;in all tho risks e losses that must
from nckaona ttmo to the present hsa amply ac,on
ssae.a the ws9oi. Of this System 60 far III 1t apllc"
L.; s revert to tho first syatcu, The one which llas
worked Blch disastrous results in Chlrnga Antl which
has beeu lllo lcas ex cnslvo our lily under tho
sasisky regime, and wltca ~ lsys long 49, ce,sed
hs cSy # " mons so oa4s snet s elsa f.
tho Treasurer OIL uhlic corporation Is hvraned wilt.
to hasa Gs s'A saie s a!i kocla s5o5ooo a Il, nnd
ihe safe is broken ol'en aid The money
Its securities ha:o to assia. him il covering Il.
Under tlcso circumstance. hc naturally prefers 70 Ill
,1t tso m Of 9 to oheE ts he,
that i ho i hell 70 Scoe,t for a. tststeeEnE of
to doposltors. III consideration Of thelr coundcncc
s s lit FAX he u.s. as assuming o
keeping Of the money Is quito difcrcnt mailer, and
bak 10 whieh ho has deposited tlo moneys i.,trnscd
to his chargo brcnks-ha loses tho money ind las to
mnko good tho loss. Hencc he very naturally consis-
ought nao to 10 allowed the rtaks Of tho pyoss anil
this ts in opinion, tho obtectionanlo feature Of
supl.ky In our own city, ifko every clso who Is
CHARGED with this iumonse responsibility, every sash
monsV !trscd m to lis to Ills own nss 80
that he may bc ile,nned ngnsns my osa he may 10
called upou to sustain. It is simply gambling bust
poration OF which o Is Treasurer to groat disaster
Tho second rlan Is open to Two objections: se Ihe
ST. LolIs County Court has 1uatlo MI order inviting
proposals for all fuuds In tho handH of the County
but M n9s conn. W
eEly Ignores tho order Of tho cour snd tho lay aus
ains hlu IN ignoring II besat.ae taking The raka he
second objection III, Tia. II public cosporatons, like
our City Council and County Court, fur Instance.
aI1s ne oneya trstoa 10 as s hs vates
banks would lie always on hand to sccuro thoes de-
polls BY olrors Of highest interest," Our ,aunGipal
corporations would lose 1ntlnftey moro in QUO failure
thau a the interest tley might thus secure III nlnhy
yeara, Besides, 70 principle has been @ moro clearly
of previous pal,ics than iha the paying Of ntorest
current eposita ia runous in Its lnato effects. No
axn out a Is safs. o. All e obectons M
apply to the as plsn apply, therefore, to the SECOND
one, and make It eyer. worse:
tho United States il tic management Of iss financial
sitors. 70 carry IT out here in St. Lous, for IN
Of the City Of St. Louis 10 keep a tho monoy coming
into lily hnuds in yau to bo built ~ tle city aklng
Gn m al thq Dra9n h ST te
Ing 1t anywhere eac. MOT he but tho city, ahonld be
The cuaos'an Of tho tus 70 fas as their
err. 1is bond should cover nothing olsc: all risks Of
for Sy liz city %hiIe merely rggcsng this plan or
tho prtxent, shall have occasion to acss its Ea-
rious features at another time.
n1olsA1 ASPECTS or Nh. GAaE's CASE.
TO the Editor Of The cAfcnao 1ffbuHd:
Sin: Though I seldom ''sush into rrint,"
allow mo to express myself in your columns on
tlis occasion.
4 man who las stood before tho community
| for years philanthroplst, man Of public
| spirit; prominent i'll dcedB Of charity aud
! mercy; enjoying tho confidence Of bis fellow
mon to such MI oxtont that any office at thoir
disposal is his for tho aoeking, ia elected to the
I
| In tits position the sa1no confidence that
| chccrcd aud louorod him in private life is con-
| tuuod.
E,nincntly qualified for the position, ho cutters
! upon his dntias.
Now, what have tue public right to expect OF
| sucl d man?
Have they not tho privilege OF demanding and
| expecting more OF him tban OF ono III whom In
| private life less trust Is reposed?
Did not tho late City TrGasurcr recognize this
himself when ho nnid interest money into the
corors Of tho city, or WAS thai simply MI olec-
| tionooring dodgo3
Iu answer to the former, cannot VIC ropy yes 7
| To tho lattcr, 1t may not DO aafo to hazard a
| But In either event. is 1t not clear that tho
moral responsibility resting IN such nun ns We
lIavc described, is greater thnn on one from
whom less T. expected? It Isl, surely IL. - II,
sir, sacrificing namn unblemiehed, bringing dis
grace aud diahon3r Oh his family, ho deliberately
robs tAe City, hetrays hia trust, .perjures him
| self and becomes n common 1otntlltor.
dinary rascal. but man Of hno parts and
| WORTHY Of sympathy md help" or should they
say that having fallen from his high estate u
lis pani 5hmcut Hhould Le as sovere VI that Of
| less rcspectcu defauttcrs?
| 1t seoma to mo the lattoy, and TINT any at
| tompt to screen him or pass over tho ainfulnoss
Of lis peculatlous is but premium on rasoality,
| and MI indncomenk to those IN like Positions,
WHO ltcn LOT E0lu. 70 IuA tAo cnaueea a"o w
| 1ikewise.
1t ID rank injustice to send poor dovll,
brought up i'll slu!na Of great city, to tho peni.
tontiAry for stealing coat to protect himself
from tic severity OF tho weather, and allow a
man WHO has lad the advantages of education
and society to steal his half-mlllion and 70 FREQ
DO the object Of pisy-louAed on as m unfor'
tunato man.
II can be but sickly aentimontality and a
wicked compounlug with felony.
| T,nt mt n1tr RyunNt1ty for the Gr11inhl 6hTt
our eyes to justice. CONE.
| THE CITY MONEYS.
70 The Editor qf Tha Chicn1n Tribune:
Sin: The recent developments iu relation tc
our city finances very naturally cni1so mon tt
tliuk and inquiro aftor ways aud meaus to pre-
vent such fcarful cataatropueB.
Before Mr.. dagc nHplmoa the office, out
former Treasurera loaned the funds to banhs ol
Otherwise anl pockoted tho interest AS with
tho city's growth these sums increased, tax
payers argued that tho large interest thusroa1iz
ed by tlieHo officials should 10 covered into tic
Treasury, less 4 fair and liberal compensation
| ~. n1I cnta Il --y1<