The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1873-02-20

er OF lne Slate, Dy the auditor, up
, on reqnisition signed by the prope
officers OF the College, tor the sun
OF $3S,5O0; being the amount Of III
appropriation made to the Collegt
! tor various purposes, by the lit
} General Assembly, which warran,
on the same day, was paid and eau
, ccled. At that time Major Rank,
was absent from city. and th
, Hon. Isaac Brandt, acting as deput,
Treasurer OF Safe took the proceed
J of the warrant, and placed them I,
the credit OF the College in order t,
make up what had bcen previousl,
} drawn from the State Treasury i,
payment Of College warrants. Thi
was done pursuant to an understand
ing between Mr.. Raukin,.aad Mr.
Brandt, aud when done irf bal
ancs in the ssatc Treasury -HSs2 Sf5l
College OF about $1,000, which was
thereafter paid opt on College war
rants, from time to time until ex
haust.d. This balance, together
with the payments into the College
Treasury OF the interest fund receiv-
ed from time to time by the Treas.
ufer, enabled him to meet all drafts
! made on him by the College cashier,
until ab ut the 1st Of December, '72
when draft tor $4,000 was received
two thousand OF which was payable
IN currency, aud one thousand III ex
,l,o al. "a At
wero no funds in the College Trea
sury, and Major Rankin again had
recourse TO the Golfers of tho State
Treasury, from which he took $1,000
to supply the currency portion OF ths
~arran:, aud made a draft on the
Union National Bank OF Chicago for
the balance A few days thereafter
Ma or Rankin borrowed from tho
Citlzens National Bank OF Dcs
Mones $1,000 III exchange, and de-
posted it to the credit of the State,
and thus made up the last deficiency.
From that time thenceiorth, there
does not appear any evidence
before the Committee that Major
Rankin either mismanagcd the State
funds, or misappropriued the Col.
lege iunds. In this connection it is
proper tor your committee TO say,
that Hon. Isaac Brandt, was in no
manner officially connected with the
College funds that during Major
Rankin's several terms OF Office az
treasurer OF State, Mr.. Brandt was
his duputy Treasurer OF State, only,
that it is owing in a great measure to
tli fact that he was deputy Treas
urer Of State that the State has not
suffered serious loss, aud the accounts
between the College and State Treas
confused ana .'e HssaHssss ii'ihr''eAbiy
AS to who was the cause, or what
were the inducements, and who re
ceivel the benefits o. the money
thus distracted, the committee have
bat one opinion. We are not I'm
mindful OF the high character that
Major Rankin has hereto sustained
both al home and abroad. We do
not forget his gallant services as
soldier aud an officer in the war OF
the rebeliion. Nor can we fail to re-
member the conf lencs that the peo-
ole of the State OF Iowa have repos-
ed in him, by electing him three times
in succession to the most responsible
trust within their gift, and the conf
ience and trus, reposed in him by
The T. ustees of the Agricultural Col
leec, who unanimously elected him
five times the custodian OF the Col
,epe funds, aud who permitted him to
ac, in that capacity tor Al, least three
wears without bonls. We have NJ
tacts upon which to base "A theory as
to the causes which promoted Maiar
Rankin to thus talsify his recor' and
hetray sacred trust, other than those
winch are known to the world, out
side OF any testimony ~ittlln our
reach. Without that hoi esty OF
purpose that he was credited with,
he also appears to have lacked a
proper Judgment OF men ard things
and without that independence aud
decision OF character which would
enable him to resist temptation, he
was by others easily duped and led
into investments and specnlations
that proved Improbable. We have
been unable to Obtain any evidence
that would point to any one as an
accomplice with Maj. Rankin in these
transactions; and hence must con
clnde that it was at abnormal .desise
on his part to grow rich by specula-
,ion, that first prompted him to I'm.
lawfully use public funds and once
having commenced, the final result
was but question OF time.
II may be a matter OF interest to
many persons to know what has be.
come Of the money taken by Major
Rankin from the College Treasury
Al! such we would refer to the testi
mony OF Hon. Isaac Brandt, herewith
submitted, Tor information. Mr.
Brandt's testimony is tul and com
pete. and his opportunities tor infor
nation on this subject We're tar supe
r,or to any man other ihan Maiol
Rankin himself, and in his conclu
sions the committee mainly concur
! No testimony is before the com
mittee indicating that any person o
corporation has been the recipient O
S ate or College moneys from Majo
Rankin by loan or deposit; nor Cal
we trace these funds outside tn
State. During the years 1869 AM
; 1870, he purchased real estate large
ly, including the interest OF Hon. A