Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1879-09-25
THE STATE TREASURY RING.

the State Legislature, and no State oili.
GERS with the single exception OF State
Treasurer, but upon the choice OF this
officer important results depend. lie is
by law the custodian of all moneys in
the public treasury and responsible for
their safe. keeping. In recent years,
Republican Treasurers have had control
of millions of dollars of balances, pre-.
sumably living idle in the Treasury
vaults, but in reality loaned out all over
the State. With the reviving business,
which will largely increase the State
revenues, it is almost ceItun there will
be large balances under the control of
the State Treasurer to be elected in
November, and who will assume the
duties of the office in June next, sue
ceeding Colonel Noyes, the present
Democratic Treasurer. The Democratic
party holds that this system of unex.
pended treasury balances is all wrong;
and they are a constant temptation and
invitation to the liberality and corrup.
ton of legislators, as we'll as means of
corrupt and unlawful gain by the State
Treasurer, who is tempted to use them,
as Republican Treasurers invariably
have done in this State for the past
twentyti years, for purposes OF spec.
ulation. These uuexpended balances,
the Democratic party holds, should be
applied TO the reduction OF the State
debt, and if this cannot be advantage.
ously done, then the taxes should be
reduced so that the revenues collected
will only be sufficient to detray the
expenses of the Government, economi.
cally administered. We hold further,
and our candidate for State Treasurer,
Daniel o. Barr, Esq, is pledged to this
course of administration, that the State
fuhds, remaining unexpended in the
public treasury. shall not be used for
speculative purposes, but sacredly
guarded to meet all just and lawful
demands of public creditors. During
the two years past, that the State
Treasury has been under Democratic
guardianship. there has been no scandal
rs to its management-no Treasury
Ring dispensing favors in the interest Of
political party or the section Of a
party-no misappropriation OF the pub
lie funds. This condition of affairs we
desire to perpetuate, and If the Demo
cratic party is successful in the election
of its candidate for State Treasurer, the
assurance can be confidently gwen that
it will be done.
How is it with the Republican party
and its candidate? With their success
it is an admitted fact. demonstrable by
the controlling influences of their Con.
vention and the surroundings of their
candidate, that the infamous and cor.
rupt Treasury Ring which dominated
the politics and legislation of Pennsyl.
vania for years, will be rehabilitated in
all its power at Harrisburg. This can.
not be gainsaid. 1t is in the air. The
election of Mr.. Butler will mark re.
vival of the old Treasury Ring. with all
its demoralizng schemes of personal
and political gain. The adoption of the
new Constitution and the election Of
Colonel Noyes in 1877, drove the Ring
from the Treasury, but as the Republi.
can Legislature has steadfastly refused
to pass the needed laws for carrying
out the reforms of the new Constitu.
ton. let the CameronSRepublican Ring
candidate for Treasurer be elected this
fall, and within year the old combi.
nations will be at their old work in the
Treasury and throughout the State.
From 1861 to 1877, with the excep.
tion of two years, the Treasury Of the
State has been controlled by ringsters,
some OF whom secured their election
by the Legislature by the most auda-
cious bribery. This was the golden pc.
riod OF the Treasury Rings power. 1t
is reported of one Treasurer that he
paid out in one day, from his room at
Harrisburg, over sixty thousand dollars
for the Legislative votes that secured
his nomination and election as Treasu.
rer for one year. The salary attached to
the office was but five thousand dollars
n year, and under the law the Treasurer
was not allowed TO use a dollar of the
State funds for speculative or personal
purposes. But the Treasury Ring cared
nothing for the law or official oaths.
At times there were as high "a three
millions of dollars of unexpended bal
ances in the Treasury. This was the
banking capital OF the Ring the
money it loaned out in prosperous
times at six, eight and ten per cent. in.
terest. The fact that a candidate could
pay out, far one year in the office, sixty
thousand dollars bribe money, shows
the money there was in the place for
the ring. Treasurer Mackey lost, by
the failure of political friends with
whom he had deposited State funds,
over one hundred and sixty thousand
ly made the defalcation good out Of he
profits of his other operations with the
unexpended balances. The Treasury
Ring conducted banking business with
the peoples money, against which no
legitimate bank in the State could sue
cessfully compete. Their capital was
the two or three millions in the State
Treasury, and operating through the
n Al ~
had no difficulty in securing laws main.
tanning the unexpended balance at the |
highest figures. They actually collected
mnoeessary tares from he people hat hey
might speculate Nth The moneyi
Nor was this all. While the Treasury
ringsters amassed great wealth out of
their speculative operations in State
funds, they built up and consolidated
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