The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-12-29
WHY THE SECRECY
II Secretary Cages Financial Favoritism
Is All Right.
New York Wnrldl

| CNeW York WOrld.)
1t is painful that Mr.. McKinley's First
Lord Of the Treasury, Mr.. Gage, is
being harrassed by scrutiny and criti-
| cism. TT is more painful to have to
| do the scrutinizing and critising of so
amiable and respectable a person. 1t
is most painful of all that Mr.. Gage
should be doing anything that calls for
scrutiny and criticism.
What are the facts?
/. There is in New York a group of
the most powerful financiers in the
| country who We're of the largest con-
| tributors to the monster Hanna cam
paign fund of 1885, who are organized
as the National City Bank, and who
have been the recipients of sundry ex-
traordinary favors from the Mckinley
! administration, such as, for example,
the privilege of purchasing "by private
arrangement" a piece of government
property in New York city for about
$1700,000 less than it's appraised value.
| 2. Mr.. Gage, as secretary OF the
| treasury, as an accountable public
servant, has entered into secret agree
ment with this syndicate whereby it
is to handle the entire internal revenue
receipts Of the government-about
$500, 900, 600 a year. No one but Mr. Gage
and Mr.. Mckinley and the syndicate
knows the terms of this secret agree
ment or how much profit the syndica-
tors will be able to make out of the
handling" 1t is known, however,
that the syndicate win nave each day
very large sum of the peoples money
for which 1t will pay nothing and upon
which 1t will collect heavy interest
through loanfng it out to the public.
Mr.. Gage says in his explanation In
the World:
1T is necessary to concentrate the
internal revenue receipts of $500, ,000
| nearly $1,00o000 a day at one place in
order to make any fair distribution of
them from day to day"
But lis it necessary to secretly con-
centrate them? And why is II neces-
sary to bring into the Golfers of the
National City bank collections made in
Richmond, Cincinnati, Chicago, LOUIS
vile, st. Louis, Peoria, San Francisco?
Why could not the government do the
distributing? Why could 1t not do the
distributing publicly, in order that no
one might be able to suspect or al
lege favortism? aE
1.-THE National City bank has larger
deposit of bonds with the treasury de-
partment than any other bank in the
country. This ample security would not
exist in the case of a bank whose de-
post Of bonds was nominal or compare
lively small"
But does this change the fact that the
internal revenue receipts if they must
be distributed as free deposits, could be
and should be distributed by the gov
ernment itself in smaller amounts
| among the strong banks throughout the
country, in order that all the people
might have an opportunity to benefit
instead OF little group of favored
money lenders In Wall street?
Mr.. Vanderbilt, Mr. Cages factotum,
and the Junior Lord OF the Treasury
says:
THE department will not announce
the new repositories or institutions
which win receive the money do not
regard II as good policy. nor would any
good result from its publicity"
Where would be the harm? 10 II not
the peoples money? Are not Gage ana
Vanderlip the peoples servants II they