The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1888-03-22
CRESCO, IOWA, THURSDAY, MARCH o. 1883.

SUOCA dHuOuHlcu ~ icSS u quarter
Of million dollars. WHAT kind Of
official honesty was this, and what an
example to the country!
That bank to-day has 81, 100000 of
government money which it has the
use of without interest. While the
farmers Of my district and m. State are
ground down by their mortgages and
crushed into the earth by their debts,
this gentleman and his bank are the
favored ones and have the free use Of
81. 100000 Of the peoples money.
Then We have the National Bank Of
the Republic in New York with $3.50,
OOO, Of government money. Who pre-
sides over that bank? John Jay Knox,
an ex-Comptroller of Currency. He,
too, has his arm into the Treasury up
to the elbow, and the profit which she
derives from the use Of this $3.50, 900
Of the government funds far exceeds
the salary which he received when he
was Comptroller.
Next we come to the National Bank
Of the Republic, in the city Of Wash
the national Treasury. and along side
oft. What necessity Is there for a
government depository here in WASH
ington? Everybody knows it is mere
gratuity to the bank and denounce it
as shameless exhibition of bad official
morals.
This National Bank Of the Repub-
lie is presided over, am told, BY ex-
Postmaster-G General Creswell. 1t has
Les, 900 Of public funds.
Mr.. Payne. Did the gentleman men,
tion the National Bank Of the Repub-
licp
Mr.. Weaver. Yes. sir; bank here
in Washington.
Mr.. Payne. That is not located
along side the Treasury Department.
Mr.. Weaver. How far from it?
Mr.. Payne. Down on Seventh
street.
[Laughter.l One word more
Mr.. Weaver. No, sir; l do not wish
to be further interrupted. My time
is limited.
Mr.. Payne. Mr.. Creswen is not
president of that bank.
Mr.. Weaver. Well, Mr.. Creswell' S
bank is using government money, Is
understand. II | have the wrong
bank BY the ear have not the wrong
ex-P Postmaster General by the ear.
Laughter ! may have placed the
right man in the wrong place.
Nax. I nn,,,a - lE.pta.r ~
Bank of New York. That bank, it will
be remembered, was organized during
the second session ofthe Forty-ninth
Congress by three prominent Treasury
officials, concerning one Of whom
(pcace to his ashes) l will say not a
word; but two other Treasury officials,
the treasurer Of the United States, Mr..
Jordon, and the subtreasurer Of the
United States, at New York, Mr.. Can.
da, were prominent in organizing that
bank and are prominent stockholders in
it to-day. How much government mon.
ey has this bank? One million one hun.
dlcd thousand dollars. 1t deposited
bonds to the amount Of 81 900. .UOU and
received $l,lOO,OOO Of government
funds, which are being used by this
bank, rs all these other eX-Oilicials arc
using government funds, for their own
profit aud advantage. 4. .. Matheissen
one OF the prominent characters in the
infamous trust, was conspicuous in or.
ganizing this bank and is prominent
stockhoider in it. examined the record
with regard to this bank and | want to
give what it says. The book which
designates the amounts that these banks
shall receive shows this order concern.
ing the Western National, Mr.. Jordon' i
bank:
Fin the bank from banks outside Of Now
York.
Is not that good? rLaughter.l
have letter from the Secretary oi
the Treasury concerning this bank
which l desire to read for the ediiica.
ton and instruction Of this House. l,
is dated Washington, d. c.. October s,
1887. and is directed to the Treasurer
Of the United States:
Sir: The Western National Bank o1
New York City has been de ,ignated d
Un ted States uep0sitory, aud the security
fixed for the present at 81 .OO, W Of United
States per cent b.nds. In ord, to avoid
the U ual delay IN obtaining q balance by
aCcu nula ing revenue deposits, | will
thank you, when the bonds are receive |, to
cause 10 be transferred to said bank from
iOnal bank depO.i Ories other tnan hose
in New York City such amounts as may
be deposited therein to the credit Of you
general account, In excess Of tt cir auth r
lied balances, until the sum OF 81, 10000 il
reached, which amount the Western Ma
tional Bank will be authorized to hold as q
fixed balance.
G S. FAIkcHiLD, sec'y.
Now. this was an order to the
Treasurer of the United States, where.
upon he issued his order to the banks
outside of New York. to transmit their
balances directly to the Western Ma
tiOnal Rank-not to the Secretary oi
the Treasury-but directly to tha,
bank, and to telegraph the amount ol
the Treasury.
And then at this session Of Congress
the Secretary of the Treasury has sen,
in an item showing deficiency in the
telegraphic expenditures. and he state,
in his letter that the deficiency is sole.
ly owing to the large amounts of de-
posits placed in the national banks.
That is SO say, the cost Of this tele.
graphing, both to and from the banks
that art using this government none,
for nothing, is paie out Of the Treasury
of the United States; and in order t,
meet this expense an item has been
allowed in the urgent deficiency bill
which passed this House. What ex.
cuse is there for this?
Mr.. Bayne. What is the date of the
letter just read by the gentleman?
Mr. Weaver. October s, 1887.
Then we have also the Third Ma
tional Bank of Buffalo. N. Y. Who's.
bank is that? 1t is a bank controlled
by gentlemen prominent in the Stan
dard Oil trust. Yes. the Standard Oi
Company has its hand in the Treasury
also. through this and other banks
Think of the burning shame and dis
grace of such transaction? No won
lap thu v,ax,nl., ara I, -;uor oonE.la,ac (,