Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1883-01-06
RAPE oF THE FREAsrRY.

| N"tRtSf 49,
nephew and adopted son Of james K l..
Polk is fugitive from justice and his
wife and children are plunged from
afluenee aud high social position to
the depths Of despair and humiliation.
We can PITY them without condoning
him. A fame for integrity and chiy
airy, built up for three generations,
has teen sapped and blasted BY ten
ure Of three brief terms 10 The
Tressurer's Office. Alack the day
that Marsh T. Polk listened
to the voice Of lobbyists or
spectators Better to have been con
tent on his little farm at Bolivar and
eked out an honest livelihood and
diod honored and poor than to have
betrayed high trIst aud brought
disgrace upon an honored family name
and a proud old State. TO day he
dare not show his face in Tennessee.
Better for him had he lost his head
than his leg at Shiloh. The. people OF
the State might build monument in
honor Of that leg, but never in mem
ory Of the body that survived. This is
a hard thiag to say, bat it is just
Marsh 7. Polk is brilliaut
man, a West Pointer; he was gallant
soldier in the late war; be has had the
highest associations and the best Of
opportunities. When he began to
to tamper with State funds, wrung
from the toiliug, tax paying masses, be
knew he was walking upon bridge of
ice which might fall in a moment.
That there was something wrong has
long been suspected. Folks extreme
zeal as a high State credit man awak
ened suspicion. Governor Hawkins
to his credit be it said, recommended
that the Treaaurer's bond be strength
ened. A bill to that effect was
introduced but was mysteriously
spirited away when about to
became law, and the 1O6 3 Ltgisla.
ture was so proud Of its work that it
adjourned without any further notice
of SO insignificant a matter. The
credit of the State had been vindi
Gated. The work Of the lobby was
done. Polk and those who surrounded
him were happy. Senator Emmet
Thompson, a watch dog Of the treasury
and the peoples rights, introduced
resolution calling on Colonel Polk for
list Of the banks 10 which he had
public funds deposited, and other
essential facts. This was voted down
by the Republicans and few Demo
crats, who set up to be the Gus
tOdians Of State honor. There was
anothersuspicious circumstance. Polk
Invariably checked every dollar out OF
the Memphis banks DESIGNATED as de
positories as soon as notified by any
collector tbata deposit had been made
These three banks are as solid as any
in Nashville and il they were not,
the Treasurer had no right to dis
oriminate. This fact was we'll known
here in small circle, and often com.
mented upon GnfAyorably, The State
was not needing the money to pay
interest or forany other purpose. What,
then. the necessity Of transferring
every dollar from outside deposi
tories to one or two favored
banks in Nashville2 The public
can now better understand Still an
other circumstance, it became known
that Polk and one OF two others, NOT
heretofore known to have a surplus
of this worlds goods, had bought
silver mine in Mexico paying for it
S90,000 in cash. A gentlemen who
returned from Mexico some months
ago, shook bis head mysteriously
aud said there is something vesy
strange about this which will come
out yet. 1t has come. Polk has
stepped down and out He may be
on his way to Mexico; he may be in
Bolivar, or even in Memphis, but ho
cannot face the publiu with an
open countenanee. But Marsh
Polk is not the only criminal be had
accomplices who shared with him the
chances Of making a profit by specu-
lating in Nashville and in Wall street
with the peoples money Who they
are may meyer be known, Polk knows,
wherever he is. He carries with him
a big budget Of secrets and is not
likely TO ever make a confession. 1t
seems that he not only aided in trans
ferring the seal Of the State, and vir
tually the Treasurer's Office, to New
York, but transferred all the
available funds Of the State.
There he doubtless engaged 10
the iacinating speoulatiOns which
have ruined SO many men. A gentle
man from Memphis saw him lose two
thousand dollars one day at the races
therein four bets made on four diff
ierent horses This could not have
been his money. The Office of Treas
urer is only worth about S350O a yeai
barely good living for man with
large family in place like Nashville,
That he from time to time acoommoded
his speculative frieOds, there can hard.
ly be doubt. That he undertook to
make money by dabbling in bonds
aud stocks,is equllly certain. Nowon-
der the January coupons were not paid;
there was only about six thousand
dollars in the Treasury. Colonel