The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1876-06-01
VILLAMY EXPOSED.

Making due allowance for the political
complexion of the committee appointed
by the House of Representatives to in
yestigate the affairs of the Freedman's
Bank, the report submitted portrays
phase of human nature from which fair
minded men revolt. The entire opera
tions as revealed in this report shows
that the concern was manipulated by
Jeremiah Diddlers, ian incorporate body
of false pretenders," erected upon the
credulty of the black man. Whether
the men who swindled the depositors
may be likened to goats or wolves, the
result is all the same to the deposltors,
who have been shorn like sheep. All
doubt as to the improper conduct OF the
officers and agents of the bank is reno
we'd. 1t is shown that a few men divided
up among themselves and their friends,
all the money at their disposal. Under
the guise of friendship and sympathy
for the black man, few men managed
to fix themselves on the Finance Com
mittee, and once in that position, they
put the earnings entrusted to their keep
ing where they thought they would do
THEM the most good. In one instance
they loaned money on securities which
were known to be worthless. Here is
specimen of their transactions. The
Actuary ofthe bank accepted a halflnter-
est in 100000 contract He put no
money in the enterprise, ran absolutely
no risks, assumed no responsibilities, but
he shared halt the profits. Of course the
contractors paper was not scrutlnlzed
when submitted to the Board The con-
tractor still owes the bank $l44 600. The
worst feature in the wholesale swindle
perpetrated, perhaps, is called the Seneca
Sandstone swindle, by which the bank
was robbed of $4,000. In word the
management of the bank was simply a
stupendous confidence operation, but as
the operators occupied position in So
ciety," and had influential friends at their
side, instead of being compelled to re-
place the money they parceled out be-
tween themselves and their friends, or
failing that to be prosecuted and sent to
prison, they are permitted to go scot free.
A peculiar feature in this Freedman's
Bank swindle is the odor of sancity and
sitting piety that pervaded the manage
ment. The piety was not very deep, it
was surface piety, the kind that heralds
religious convictions loudly, as thin as
veneer. say about twenty sheets to the
inch. Like Mr.. Hamilton Veneering,
they absorbed all the money that came
near them. Their piety seems to have
been of the sly, mysterious, tilmy type.
Our readers may remember that every
thing that belonged to the Veneering
was bran new, even to the furniture, so
new that "the surface smelt little too
much of the workshop, and was a trife |
stickey." The principle difference be-
tween the Veneerings and the managers
of the Freedman's Bank appears to lie in
the fact that the belongings of the latter
were more than trifle stiCkey, since the
money entrusted to them was borne off
imperceptibly as industrious bees carry |
off the sweets of flowers.
The record is most shameful one, and |
the strenuous efforts that have been and
are still made to saddle this iniquity upon
the Republican party should not and
will not prevent respectable men from
denouncing it in the terms it deserves
Pittsburgh Chronicle, (Rep.)