The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-08-14


with the Treasury officials these
bonds were pronounced genuine, and
the Sleigman 6rm so notified.
During the investigation by the
present Board of Sinking Fund Com
missioners, several facts were brought
to light which may ultimately re-
suit in fixing this crime on the proper
person. When Mr.. Bickel left the
State Treasury in 1854 and turned
it over to his successor, Hon. Joseph
Bailey, of Perry county, be reported
that he had q certain amount on de-
post in the Philadelphia banks, but
when Mr.. Bailey went to the depos-
itories to verify the accounts of Mr..
Bickel he found there was a defcien.
cy of about s7s 5000, which sum Mr..
Bickel had appropriated to bis OWL
use. Mr.. Bailey then proceeded to
force Mr.. Bickel to reimburse and
succeeded, according to bis own
statement, in getting a return of $685.
900, leaving a deficiency on the parl
of Bickel of about sl2, 600 or Si3, 900
But at the same time it should be
stated that the books of the Treas
ury show Bickel's d~efalcation to have
been made good entirely. Whethei
it was or not each one can judge for
himself; the books show Bickel's in
debtedness to the State to be settled
while Bailey declares he still owes
about $4,000. But this d~efalcation
of Bickel is only useful in the presen,
investigation to fix q motive for the
over-issue of bonds, and was about
the first incident discovered.
Thus briefly have we detailed the
origin and progress of the investigs-
ton instituted by the board of Sink.
ing Fund Commissioners as to the
over-issued bonds. Now to the in
ferenees which this Investigation may
furnish
/. That there has been an overis.
sue Of 81 900. 600 Of the loan Of 1858
is undeniable. And since only $685.
900 of the latter sum was ever au-
thorized by the commissioners to
take up overdue State stock, it is
morally certain that the State has q
debt of $4,000 to pay for which no
equivalent was ever received. In
plain words, the State was swindled
of $4,000 while the State Treasury
was in control of o Democratic OFF,
Ger in 1858. That the State is lia-
BILE for this over-issue is ~unquestion-
able because the books containing a
record of the issuance of the 1858
loan have been lost or destroyed and
no method can be invented to distin-
guish the legal from the illegal bonds.
Consequently the Legislature must
be invoked to authorize the payment
of the Illegally issued bonds, as it is
supposed they have got into the
hands of innocent parties through the
action of the States agent at that
time.
III. That these bonds were issued
by ONE person secretly and Illegally
for his W use cannot be denied.
And it seems very likely that John
NJ. Bickie, the Democratic State
Treasurer, was the person. His de-
falcation of S7S,0 600 must necessarily
he made good the 500, 600 of bonds
unissued in the Treasury
offered him the means to raise
the amount, and the destruction of
the books containing a record of the
bonds issued, presented q hope that
his criminality would never be dis
covered. But the time has come
Although the possessor of these IL
legal bonds since 1853 bad studiously
avoided presenting the coupons for
the interest, the time came when the
loan was called for redemption. Then
he saw the necessity for getting the
into the hands of innocent par
ties, so that at the last moment dis
covery would not be effected by his
presenting a large block of bonds
whose over-issue something
must become known. Accordingly
these bonds were secretly transferred
aud by some persons laundering a
number of coupons from bonds on
which interest had never been paid
before were presented last March.
Hence, we have the investigation
and it's results, with the very fair in
ference, drawn from his position as
at the time and subsequent
that John NJ Bickel, the
Treasurer, vas the Grim
inal.
We are ass ured that the present
Board of Sinking Fund Commission
ers will make a fall, free and honest
investigation, seeking for the truth
and the truth only, aud when the ED
is reached will fix the responsibility
for the crime where it properly be-
longs. OF course, we are unaware
what means the officers OF the Treas
ury are using to trace the ovcr-issued
bonds. Bnt i. seems possible that
they might be traced if the coupons
paid since 1858 have been preserved.
BY comparing the old coupons with
the coupons presented for payment
last March it would seem that those
whose numbers did not correspond
must belong to the over-issue. Since
the preceding was written We learn
that it was this method the officials
started on to track the bonds,
but we're blocked at the outset by
finding that all the old coupons had
been DESTROYED according 10 The u
prevailing then in the d part
viz to burn all papers ~ the
end of each terra.
As intimsted above, it is the pres
snt opinion that all the over-issue
will have 20 be redeemed, and thus
another foe legacy. in the shape of o
huge fraudulent debt is left by the
party for the people of
he State to pay. After years OF
yenomous charges and base insinua-
ion against Republican management
the Treasury department, the peo-
Die see that management gloriously
indicated by a political opponent
md are callep upon to witness Q
Democratic defsulter who has been
AIKEN with the stolen goods in his
land.-Larrtsburg Telegraph.
III. DILL.'S BATTLE FOR THE PEG
Mn DIN the Damncratic randi |