New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-21
4 SrGGESTLlK CONTRASE

Let two items be cOntrasted The experts
employed by Senator Dayis's investigating
committee, after spending a year in minute
scrutiny, report that the books Of the United
States Treasury balance to a cent, though
transactions amounting to many thousand
millions have been made by successive Re
publican Secretaries and their many sub
ordinates, during all the excitement, haste.
and decentralization Of great civil war; But
the Treasurer of the Democratic State of
Missouri officially reports that he has $780,
1877 80 in the defunct Mastin Bank that he
demanded from the bank money to pay the
July interest Oh the State bonds, and was
Uniformed by the officers that they could not
comply with his order at once, but would
"make the remittance very soon after
'July - that instead OF instantly bringing
the bank TO account for State funds
in its charge. he came to this city and Dor
rowed from the Bank Of Commerce $22O,OOO
for payment of the interest that the
bank has not only made 10 remittance, but
has failed Il is true he states that he holds
a bond in the sum of $1.000,000, with the
two Mastins and four other persons as Sc
curities but It does not appear how much
property they have that can be reached. He
also holds $3.50, 900 bonds Of the Kansas City
water works, but these bonds have been on
the market for months and arc yet unsold,
and it is stated that they are virtually tied
M and rendered at present unstable by n
suit commenced by Colonel Green for the
appointment of receiver. Under these Pc
cuiar circumstances, the State Treasury Is
unable 10 meet interest on the State debt, and
will be unable for some time 10 come, unless
an extra session OF the Legislature should be
called.
IL has been the habit of Democrats to make
a great fuss over alleged fraud and corrup-
ton in the financial management Of the Gov
eminent by Republican officials, and to point
with pride TO the conduct of Democrats in
Office, with the boast that, when Democrats
get the power, all sorts of misconduct will
cease. The history of Democratic county Off
Gals i'm Ohio has recently been statedi il ap-
pears that, IN more than half the counties I'M
der Democratic rule, public funds have been
stolen by officials. But the transactions in
Missouri are peculiarly instructive.
About six years ago the Mastin Bank man
aged to elect as Treasurer Of Jackson County,
Missouri which embraces Kansas City, a
that time the bank became virtually the
County Treasury, and was enabled to
90 into various operations which prom
ised profit During his term of Office, we be-
lieye, the bank began to make advances on
the contract for the Kansas City water works
Presently the pure and Impeccable Democracy
held a convention to nominate State officers
with assurance of carrying the State. The
Mastin Bank saw another chance, and. by
combinations with certain active politicians,
contrved to secure the nomination of it's
friend, Mercer, for state Treasurer. 1t was
currently reported that great part Of the
expenses of the campaign was contributed by
persons interested IN the bank, and after the
election the Mastin Bank became the chief
depository of State funds, it's managers and
friends becoming the Treasurer's bOndsmen.
Since that time tho opportunity for large
operations has been fine; and among these
operations was an advance to the water
works company, for which it appears, the
bank took $3.50, 700 bonds Of that company,
which it deposited with the State Treasurer as
security for his deposits, besides other bonds
of the same company now advertised for sale
here. RumOrs of extensive use Of State funds
in private, political or newspaper enterprises
were widely circulated, bat when MERGERS term
ended, the same combination of politicians and
bankers managed to nominate Mr.. Gates, the
present Treasurer. As part of the money in
the treasury, Mercer turned over to him
check for $4,000 upon the Mastin Bank,
with the sanction Of the Democratic auditing
committee This check has never been met,
though ii was given about January /. 1877,
but Mr.. Gates has continued bis intimate rela-
tons and heavy deposits with the bank. Now
it is proposed by the State authorities 10 sue
Mercer and his bondsmen ON the check, but
they will of course show formal quittance Of
responsibility by the auditing committee.
Treasurer Gates has not only continued to