Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1879-08-07
TREASURY REVELATIONS.

fLAIk AIR sItLhN bif bhEN .
BUREAUS OF OUR RTREAsuRY--THE NUM-
BIER AND COST OF EMPLOYEES.
We are indebted to the New York
Star for perusal of the reports of the
Glover committee on the management
and corruption of the Treasury De-
partment. 1t fully just'iies all that
has been said of the maladministration
of the country's finances. 1t lays bare
n record of corruption, fraud and out
right stealing OH so stupendous scale
as to almost stagger belief, fortified as
it is ut every point by facts and fig
ures, traced out with great labor from
twenty years of crooked accounts,
forced balances, false entries and gen
eral distortion of eliminating official
data. The amounts wasted and stolen
foot up millions. Among other things
it is shown by conclusive proof that
at this moment over S6,000,000 of Il
government trust fund (the proceeds
of the sale of cotton captured during
the war;, is absolutely unaccounted
for; that Director of the Mints
abused his high responsibilities by
dealing in bullion stocks, and by an
untrue official report caused nuctua-
ton in the value of the stock he was
interested in of fovcrsl00,0 1000, 700, prof
itng largely by the rise and making
immense fortunes for the parties inter
ested with him and in his confidence :;
that this same officer by private ad-
vices to interested parties concerning
the intended action of the Treasury in
suspending the coinage Of trade dollars,
enabled them TO make n corner on
these coins in the Pacific markets and
harvest a large percentage on the all
vance which followed the public an
nouncemcnt; that the issue of govern
mcnt notes and bonds has been 30 ma
nipulated that immense overiSsues Of
currency have occurred that rs much
rs Sl9,0O0,0O0 of currency notes have
been atloat for months while the Treas.
ury accounts were falsihed to conceal
the ovcrissue that for nearly year
tS66) the government had from So.
100000 to Sil,0O0,00O more outstand.
ing than the accounts showed and
finally, that the accounts have been
deliberately altered, erased aud falsi-
fled to cover fraudulent transactions
from Congressional inquiry.
In addition to these damaging facts
the report points out the curious and
suspicious circumstance that floods of
so-callcd excellent countcrfeits' have
been found in circulation soon after I'M
portant elections. 1t is shown that each
of the last three Presidential elections
was followed by a Treasury announce
ment that large amounts of counter
felt" notes were anoat. In 1869 the
whole issue of legal tenders was with
drawn and replaced, on the ground
that they had been largely aud skill
fully counterfeited. In 1873 the whole
issue of $500 grccnbacks-about s35,.
000,000-was withdrawn,and replaced
in the same way. In 1877 n counter
felt s 900 note was announced. One
of the oldest engravers in the country
testiies that when note is so like the
original that it cannot be easily de-
tected--as these aud other counter
feits' are said by Treasury officials to
be-H cannot really be n counterfeit,
but must be genuine note surrcpti-
tiously printed from genuine plates or
from secret reproductions of these
plates. In each Of the cases named
there is evidence warrauting the be-
lief that these Issues have been made
with the cOnnivance of Treasury Off.
cials, the spurious notes being issued
for campaign funds. The evidence
shows that the facilities for fraudulent
overissues are simply unlimited.
The report recalls the attempts that
have been made to break up this cor
rupt system, and recites the means by
which they have been frustrated by
the Republican heads Of Department.
The laws have been either misconstru-
ed or overridden, so that the Secretary
of the Treasury and the sponsible
officers under him have come into
complete control of the issue of the
peoples currency, and NO protection
whatever exists against the circulation
of unlimited amounts of spurious cur.
rency at any moment. The sworn
statement of the custodian Of the print
ing plates shows that single employe
can at any time abstract and retain
long enough for reproduction any plate
or roll used for printing u. 5. notes or
bonds. The distinct paper used is
equally liable to abstraction. 1t can
be taken away in small quantities
without detection, and without the ne
cessity for concert among the parties
in charge. That such thefs have
taken place is shown by the fact Of
the immense owerissues referred to-
Some of these cases have been traced
out, as il is shown by the following
summary of proofs in the committees
possession, as stated in the report: