Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1888-10-27
How tnp Peopis's Money IL Being
Used BY Cleveland.

Au00SASA ouU AuuubUl6I 6y6tem t0SL
had steadily produced . condition Of
prosperity in the country. When the
surplus was thus designedly enlarged
the treasury department used it, for
the first time since Gen. jackson broke
down the old United States bank, fef
the purpose Of loans, under the name
Of deposits" without interest in bank.
ing institutions. When Mr.. Manning
retired-frcm Mr.. Clevelands cabinet
and Mr.. Jordan resigned from the Office
of treasurer, the two gentlemen estab.
lished bank in the city of New York.
and the administration Of Mr.. Cleveland
loaned them Of government funds with.
out interest a. fixed and permanent
deposit 9l,l00,000 Of the peoples mon-
ey. II in the days of Louis Napo-
Icons most absolute power he had taken
5000, 900 francs out Of the public purse
for two friends as an aid to = private en-.
tsrprise in banking, the barbados
would have been across the streets Of
Paris and revolution inaugurated
against the government that could in
dnlge in favoritism 30 ruinous (cheen).
If Queen Victoria should request CT the
English treasury that the same amount,
100000 sterling, should be issued to
two Of her personal friends As an aid to
speculative venture in banking, the
ministry would have made an inquiry
into the soundness of her majesty's
mind upon proposition so extraoridi.
nary.
And yet Mr.. Fairchild acting for the
President. ordered $1,1O0,OOO Of the
peoples money to be placed in the
bank of Messrs. Manning and Jordan,
aud authorized the bank to "hold that
sum as fixed balance" I quote the
secretary's exact language. 1t has
been there now for more than a year,
and will probably remain there for
many years il the Democratic party
should retain the power to abuse their
trust and use the peoples money for
private purposes.
will give another instance Of the nd.
mlnistration of the treasury depart
ment, equally offensive and equally
aggravated. Mr.. Speaker Carlisle at his
last election narrowly escaped defeat
il, in fact, he escaped it at all-but he
was seated on the election certificate
and held the place. His pending cleo.
ton is one Of great interest to the Dem
poratic party, and is sharply contested
lby.the united Republican and Labor
lpaIties. As an aid to Mr. Carlisle in
his extremity the treasury department
haa placed special deposit, which is
lin the nature of loan without interest
in al the national banks in his city ol
CoMngton. four in number, the deposit
In each Of the banks exceeding GOO, ,00(
and agsregating nearly 100000. L
there has ever heretofore been an abuse
OF that character known to the treasury
ofthe United States, desire aome ont
competent to instruct the public anc
make it known. Cheersl. II ther,
be.any parallel to the use OF the publ,
4 me0ev 80 scandalous and 40 corrupt
ing; I desire that l may know it. ant
apologize to the treasury department
for arraigning them as the first tina
ever entered upon policy of personal
iavoritism at the expense of the publi
treasury. Cheers.
But on a larger scale. and as betweel
communities rather than individualt
look at what the secretary has done
He has placed i'll the State Of Ne,
York, IN banks Of his own selection
nearly @l3, 100000 Of treasury funde
and in this great western body Of states
comprising Illinois, Michigan, Wlscor
sin Minnesota, Iowa, Kansas and Net
raska, will, double the population {
New York, aud in special need Of read
money at this time to move the crop
forward 10 market, the secretary hs
given little over q, ,00O.0 900, the rule {
the secretary apparently being that to
: state Of political importance to the q
minstration thirteen millions are givel
and to seven states with double til
population, that are hopelessly Repul
lican, considerably less than half th,
amount. [Applause]. Such politics
gambling and personal sporting wi,
p funds Of the common treasury OF Il
people of the United States has new
been dreamed OF before in this countr
Think for moment, if any man hi
proposed law that, with all balanc
in the treasury beyond the immedia
: requirements of the government, Il
secretary might loan them, without j
terest, under the guise of deposits.
whom he pleased and place the
where he pleased. Was there ever
e senator or representatiye bold enouI
to vote for that measure? And y
that is precisely what Secretary Fa
child is now doing with the surplus