New-York tribune., 1881-12-24
THE BIBLE SOCIETYS AFFAIRS.

SERIOUS CHARGES MADE AGAINST THE MANAGE
MENT-ASsETs ALLEG To BE UNDERslAlhD
AND EXPENDITURES Ov2RSGArED.
Members OF religious societies have recently
been much Interested in q controversy between .ne
Connecticut Bible Society and the American Bloe ho-
ciety regarding the financial management OF tue Ia'-
ter 1t was charged by the Executive Committee ol ne
Connecticut society that the American BDle society III
TIER annual financial reports represented the assets
smaller than they III reality and their oehe'oeh'
expenditures larger than they actually were Ihe ON
cers of the American Bible Society were not silent
under such an attack replying to 1t with great Vgor III
n long statement about their affairs, In Which tHe
charges of the Connecticut society we're denied
Still tho Connecticut society persist in their arragh-
ment of the National society THEFT Executive ooif
nittee have just published orcby expires sed reply 10
the American Bible society's defence. Much OF the
ground of the former statement is gone over In 'he
course of their reply the committee saw we calhot
help asking these gentlemen whether they perceive t
they are giving their sanction TO practices WHICH
secular corporations would not tolerate ana Whlch saN
of an unchrlstian shrewdness. However desirable II
NAV be that the American Bible Society should be con-
sdered poor rather than rch 1t is not desirable tha
through any anxiety to prove its poverty II shoud eA
pose itself 10 a suspicion OF dishonesty
It's to prove that the officers of the National society
in their last annual report undersated It's assets ana
oyerstated its benevolent expenditures thus producing
the extent Of its benevolent work., that the reply is
chiefly devoted The committee declare that the
very large item OF Sl97l46 ~, when ought
TO have been included among the assets OF the society,"
was entirely omitted" The foreign assets OF the
society they affirm soOd upon the books valued at the
sum above named" at the time OF visit OF the com
mttee to the Bible House; yet in the balance sheet
published three weeks aftcrward this amounO has dis
appeared aud the only ausiOn 10 the foreign assets Is
the vague and misleading statement i'll footnote that
IF they possess any commercial value II Is so ehlrey
uncertain that it cannot be tabulated This method of
dispOsng OF en- item amounting TO nearly $-oo'ooo
the committee say they looked upon as
doubly wrong; the principle was miscmeVouS
and tue that the value of these assets could
not be taDnAtei was false as proved oy Ine acI my &
tabulaed Already In rtpy the nluasyi9 ,I G o nc
National society had sad tha IN iht prereucc VI 'o %
isating committee doubt had been eNpressel aDouV
the psop1ety OF gVih% the accounts wiz ~ a.
figures at all and that one OF the inenDeI VI tie
committee had said that they ought not 10 oe' IN uo
opinion OF the committee the puDlG "ouu ste AZ i S
one of several attempts that nave Oeeh ulaue W i
imzC the assets Of this great anu prosperous coIpo,
ration Furthermore, me coiuitee nau In
that the balance sheet OF the society besides htQgee
omitnG large item of foreign assets revealed serl
it, FIST there was the Bible House entered bal
ance sheet al S304,OOO, which was worm double that
amount according the judgment OI five experts IN
real Secondly, that the securities entered III te
balance sheet, under the head OF temporary invest
mcut." at S549 232 worth in the market at the
of the report, nearly $4,000 more thal mat sum
Thirdly, that certain funds amounting 10 9s-,4oo' "ncn
debts OF the society, not debts IN
any sense OF the word The committee say The uu-
dervauation another item might be matter of
no great importance But what shall We say Wheh q
dscoyery made by experts tnat every item O assets
in the of the American Bible society Tor
the yericatiOn OF which means exist outside oI the
Bible House is unGcrstated IN its value No wonder
fact this leads irressuDly, IN many minds TO
the conclusion mat there deliberate purpose 10
deceive pubic il regard 10 the resources oi the so
cety. The attempt TO pallate tue course OF the
society undertaking It's assets Dy Gtng Inc
practice OF banks ana other mOneyed corporations
lalaclOuS These Institutions are largely dependent
for success upon the magnitude OF their assets; but
benevolent corporation Oushcs upon It's reputation Tor
poverty 10 contributions II sets iOrth not It's capl
tai but its need and thus the temptation wnch beret
opposite of thai to which OEer money ed lnsiu-
tions are exposed To this temptation tue American
Bible Society to have yielded; and has thus III
yolved Itself IN wrong If IL Is fraudulent IN
a bank to oversatc its assets, 1t Is fraudu-
lent in a benevolent society TO undcrstate its
assets. This society occupies at this very hour
and has long occupied, an exceptional position IA
object OF criticism, account OF Its persistent
and suspicious recence. 1t was called upon To make,
and promised to make, absolutely complete state
ment Of its financial affairs. The promise being broken.
constitutes poor apology 10 point 10 the practice OF
other societies" An argument is also made IN support
OF the charge mat there OverstatcneDt OF eGpen-
ditures in strictly benevolent and ml-sOnary work To
the amount Of $177OO. II is also charged thlt there
was an apparent duplication OF al item OF Si44JJ u
for the salaries and pCnses OF cOlpOrtsurs.