People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1893-07-07
MACUNE As A FINANCIER.
He LIVES HIGH ON A SMALL
SALARY.
And Buys q Fine Residence on the
Profits of Stock that Had Never
Declared a Dividend.
WASHINGTON, June 90, 1898.

Hon. Ion3 Watson, Thomson, Co..
DEAR SIR AND BROTHER - There
are two kinds Of evidence by which
crime and rascality are proven. One
is direct evidence the other circum-
stantial evidence. Each is equally
conclusive and brings conviction.
In these times of almost universal
bribery, especially in matters OF poll
tics, it is quite difficult to obtain
direct testimony, owing to the fact
that years of practice has reduced
this system of prostitution to a
science.
It man steals my wheat and the
theft is witnessed by others he is
convicted on direct testimony. But
if he succeeds in getting the wheat
unseen, then indirect or circumstan-
tial evidence is relied upon to con-
Wet. If the wheat is found in his
possession, he having no land upon
which it could be produced, he must
prove to the satisfaction of the court
and jury just how he came in pos
session of this wheat or stand con
voted of the theft.
In this letter I shall prove by both
methods that C. w. Maoune has been
in possession of money that he did
not nor could not have earned
through any known legitimate ef-
forts of his own. In letter to Col.
R. J. sledge, of Kyle, Texas, Mr..
T. A. Clayton, of Louisiana, says:
II paid Macune, as representing
the Economist, very handsomely for
the aid the paper gave the Peoples
party in the late fight. Part of
the money paid HIM he said was for
the paper; $4,000 was the amount
that he said went to the Economist"
Again he repeats:
''Macune ought to account for So
900, Of which $4,000 was for the
paper and $4,000 for the speakers.
He got more than this, but the Econ
onajSt was not interested in it"
This | submit as direct evidence of
the fact that DR.. Macune did receive,
in 1891, over $4,000 as political
Doodle.
In the winter of 1889 DR.. Macune
came to Washington with but $40O,
and that was borrowed of Col.
r. J. Sledge. In proof of this I re-
fer to Col. Sledge, III. G. Saffell and
Harry Tracy, and could name many
others. have heard DR.. Macune
make this statement number of
times.
He at once began the publication
Of the National Economist. The
National Economist Publishing Co.
was composed of ten stockholders,
and each share Of stock was $4,000.
The stockholders paid in $1,000
each in cash and received $4,000
each in stock While ten shares had
been subscribed for, few failed to
meet their promises and it was some
time before they were all finally
taken. DR.. Maoune held but one
share. He was appointed editor and
manager, with salary of $4,000.
From that date until I left the paper
III the summer Of 1892, this salary
was his only visible means of sup
port, except $4,000 which he re-
oeived as chairman of the executive
committee Of the Alliance in 1890.
In proof Of this | refer to every
stakeholder in the company and
every person acquainted with the
business.
I call especial attention to these
two propositions Some time in
1891 he notified the stockholders
that the concern was in debt about
that he would pay it if an
additional issue of stock would be
made on the same basis of the old,
which was done, and the stock in
creased to $4,000. Early in 1892
he bought the stock of r. F. Gray,
j. A. Mudd and Fl. G. Saffell, paying
each 81, 500 per share. Latterly he
bought my share for $1,000. At
that time he held $4,000 of the
$4,000 stock in the company. Du-
ring the whole time he has been in
Washington he has lived in absolute
profigacy. In proof of this / refer
to Col. Sledge, Tracy, Saffell, Gray
or DR.. Mudd. I have asked a mum
Der acquainted with his manner of
living as to its cost per year. Col.
Sledge put it at $4,000; Harry Tracy
at $4,000; Saffell at $4,000, and no
one less than $4,000. He bought
four-story brick house within eighty
rods of the Capitol for $500 early |
in 1891. Since then he has been
compelled to pay $4,000 per month
and $4,000 interest annually. While
[ believe the house to be free from
incumbrance, | am certain the So, 500 |
above the trust mortgage is paid. |
Col. SIedge and Tracy SO informed
L *