The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-16

By vote of IA to IL, members of each par
ty being found on both sides, the City Coun-
Gil, last night, agreed to the proposition made
by the bondsmen of the late city treasurer,
the details of which are given in our report of
the Council proceedings. In brief, it is to ac-
cept $68, 600, and if the property turned over
shall realize more than that sum, the excess
shall also be given to the city. This
conclusion, we are bound to believe,
was reached after careful consideration
of all the circumstances surrounding the case,
and solely in what are. conceived to be the
best interests Of the city. 1t is well that in
such matter party lines were not drawn; for
if party considerations are allowed to have
place, there could be no fair judgment, and
no conscientious decision reached upon sound
business principles. The public has not been
permitted to know all the facts; the statements
made by Mr.. Pattison have not been complete
and exhaustive; yet enough has been known
to satisfy business men, and all taxpayers
who would and could think dispassionately,
that the city had very bad debt, indeed,
and the wisest thing to do was to get all that
could be got out of the assets The Jour
nal has very frequently called attention to
the weakness and viciousness of the existing
treasury system, which is, in great measure,
responsible for this severe loss. There is no
criminal liability on Mr.. Pattison's part. By
the law and the decisions of the court the
moneys in his hands were his own, to do as he
pleased with them the only recourse the city
had was upon his bond. People may
have their own opinion upon the course
of the treasurer in his management of
the funds. He may have done very unwise
and unsafe banking business, as be undoubt-
edly did; but when city or county treasurer
is elected under the present system, it is tanta-
mount to electing banker for the city or
county funds. And If an educated and ex-
perienced banker not infrequently so mis-
manages business as to be able to pay
his depositors only small per cent
of the money he has taken from them, what
can be expected from men who assume to do
banking for the city and county without ex-
perience and without fitness, and with the
exciting desire to make out of their temporary
bank all the money they possibly cant This
is precisely the situation with the city to-day
in respect to it's late treasurer. The bond
cannot be recovered upon except at the
end of long legal trial, the outcome of which,
we are told, is questionable, while, as we know.
large number of the bondsrnen are not now
responsible. The situation is one for which
the system is largely answerable; and there
fore, the Journal has steadily insisted upon a
radical and complete change at the earliest
opportunity.
We have no word of defense or apology for
Mr.. Pattison. We have already expressed
ourselves plainly upon that point but the fact
remains that the city had bad debt on it's
hands, out of which the duty of the Councils
is to realize all that is possible. This is a
question Of practical business sagacity, and
taxpayers can have no just reason for think
ing that the fourteen men who voted as they
did last night have not been actuated by the
best motives or guided by sound business
considerations.