Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-06-14
THE FREEDMAN'S BANK.

Washington, nothing meanor or more
disgraceiul has come TO light than the
swindlc of the so-called Frcodman's
Bank in that city. II should hence
forth be known as the Bank for Swim
ding Freedmen. Under the prctense
of philanthropy u ring Of white men
have been robbing the emanclpatcd
slaves, and the colored people Of the
country generally, of their hard oarn-
ings.
Besides various spectators who
prcyed upon the funds Of the emanci.
pated slaves, the notorious District OF
Columbia government ring came in for
large share Of the stealing. The bank
had intimate relations with the District
real estate spool and Vandcnburg, q
contractor, who was in collusion with
the members of the pool" borrowed
money from the bank on absolutely
worthless securities the actuary Of the
bank himself, d. l.. Eaton, was per-
suaded TO accept as u gratuity from
Vandenburg a half interest in q $780,
900 contract for sewer pipes. Eaton
put in no money of his own, incurred
no risk or responsibility, and had no
trouble except to sign receipts for his
share of the profits. He used his posi-
ton to pass Vandenburg's paper at the
bank counter, and the money thus OBJ
tanned was used to carry out the con-
tract in which he was Interested as a
beneficiary Vandenburg still owes to
the bank s144, l64.s3, which, however,
he disputes on the ground that some
$4,000 or s50,000 hissecurities have
been disposed of and no credit given
him. By means of the Seneca Sand
stone enterprise $4,000 was drawn
from the bank on worthless securities.
The report says: "Evcry one Of the
survivors in this gross fraud and con-
spiracy-namely, Henry d. Cooke,
Lewis Clephane, Hallet Kilbourn and
10. Evans--should be indicted, tried
and punished to the extent of the law,
while those who are pecuniarily re-
sponsible should be sued for the recov-
cry of the money or good securities,
consisting in part of 100000 first mort
gage bonds Of the American Frcestone
Mining and Manufacturing Company,
of which the bank was robbed by the
conspirators."
The report was signed by all the
members Of the committee five Demo
Gratis and Rainey, colored Republican,
except Mr., Frost, (Rep. Mass.) who,
however, agrees with the main con-
clusions. York Observer.
Now, as the above comes from re-
ligious newspaper, and one, too, that
has always been extremely "loyal,'
with an undisguised tendency to the
Republican party, what it now says OF
the Freedmcn's Bank manipulators
must be accepted as verify, if not in the
stronger light of States evidence.
Another thing-thc Republican Or
gans are constantly telling their read
ers that the Congressional investiga-
tions are mere shams, gotten up in the
interest of the Democrats, that the
accused parties, Grant, Belknap, Bah
cock, Blaine, & Co, are all lovely and
honest fellows, that the evidence pro.
duccd against them is false, and, there
fore, it is not worth while to occupy
their columns with its publication.
And again-The Republicans in Con-
gress,as well as the press of that party,
have from the beginning thrown every
possible obstacle in the way of a full
and honest investigation, even to the
refusing to exhibit public records, and
as in the instance of the safe burglary
affair, absolutely destroying such
records, and inducing important wit.
nesses to flee the country, 50 that il
has been very difficult for the Demo
Gratis to detect the rogues, however
guilty they may be.
And even now-when, in the face Of
all these and other difficulties, enough
facts have been elected TO fasten guilt
upon the accused parties, the Republi.
can member of q committee, through
fear that he will ivure his party declines
to sign a report. We ask, could despcr-
alton go further? Could there be
stronger proof of the utter corruption
and decentralization of the Republican
party2