Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1886-03-04
THAT "SAvINGS" BANK.
How the Republicans Robbed the Co1ored
PeOple-PresentC Condition of Their " In
Sfitution.,,

How the Republicans Robbed the Colored
People-Present-C Condition of Their elm
stitution.'
The act of February q, 1881, re-
pealed the law under which three COM
missioners were appointed to settle the
affairs of the Freedman's Savings Bank,
and made the Comptroller of the Cur
rency a single commissioner, with
salary of one thousand dollars year,
in addition to his regular pay, for per-
forming that service. Eleven years
have now been consumed in that bust
ness. The whole cost of this protracted
settlement has fallen upon the assets
of the poor depositors whose hard earn
ings were stolen by ring of Republic
an thieves.
By the act above cited all claims not
presented within six months after its
passage, and all dividends not called
for within two years, We're barred, and
their amounts were to go to the bene-
fits of other depositors. In 1888, at
the expiration of this limitation, the
doors were reopened under certain re-
strictions.
The last report of the commissioner
shows that the receipts during the year
were S9,379.0S, and the disbursements
S9,001, exclusive of 81 800 deposited as
security for costs in causes before the
Supreme Court of the United States.
Of this latter sum there was paid for
dividends $1,40519, and for barred
claims under the act of 1883, 1881. O5,
or total of S., 1856. "a.
The remainder of $3,664.76 was paid
for salaries, attorneys fees, commits
sions and multitude of little expenses.
That is to say, more than a third of the
whole disbursements went into the
maws of leeches that are sucking the
few remaining drops of blood in this
shameful concern.
The record is revolving, but it is con-
sistent with the whole legislation on
the subject. After the ignorant deposit
tors had been robbed by Republican
laws, which took away their original
security, Congress imposed on them
three commissioners with $4,000 a
year each, and costly machinery of
attorneys, clerks and the like, whereby
a large portion of the assets were eaten
up during seven years of this scandal
Gus burden.
When public opinion revolted at that
outrage, then the law was changed to
the present form, which. on a most
limited scale, continues the imposition
by like methods. And it is coolly pro-
posed by the commissioner that Con-
gress shall make good the stolen def
cheney by an appropriation of the peo-
pies money. This recommendation is
made after Republican Administrations
allowed the thieves to escape without
an attempt at punishment, and, in
deed, elevated some of them to prom
inent places in the Government.
Thousands of these deluded colored
people either died without having re-
ceived a dividend or disappeared with
out leaving trace behind them. 1t is
high time the business was wound up,
and clerk of one of the departments
should be assigned to that small task
without any compensation or charge
against the little fund that still remains
to be distributed. And Congress should
at once repeal the act allowing theComp-
| troller of the Currency an additional
thousand to his salary for signing his
| name at the expense of these victims
of rascality.-N. Y. Sun.