Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-01-30

the bank Of its tax obligations to the
state and city of New York. by retain
ing the title in the government. The
| government had agreed to pay rent for
| the property, yet the bank was not to
| nav taxes upon it. He called attention
to the letter of the secretary of the
reasury, asking Congress 10 appropri-
ate $109, 600 for the property sold i'll the
manner he had described to prevent the
bank from being liable for taxes.
| IF that was the secretary's motive,
! said Richardson, emphatically. II am
here to condemn it and to insist that it
| ill-becones the secretary of the treas
ury to go into partnership with pri-
vate corporation" The National City
Bank of New York, Richardson said.
had been able to earn interest upon the
S32 325 900 it had nominally paid the
government, interest upon the bonds
| it had deposited TO retain this money
and to charge the government rental
| equal to per cent. of the purchase
price. In other words. he Said, This
| Juggling has enabled the bank to make
S:J7. 900 up to date" Richardson said
| he was surprised that the secretary of
the treasury had not already asked to
| be allowed to make an explanation.
| SulZer y. v. the author Of the reSo-
| luton. followed Richardson. He said
| the Republican party dared neither to
smother nor ignore the resolution. The
| people of the country We're deeply in
| terested in ascertaining the truth He
| characterized the conduct of the sec
rotary of the treasury as infamous and
his connection With the Rockefeller
bank. which had been used. he said. to
manipulate the stock market against
adverse interests as SC2ndalouS. Ever
since the present secretary had been in
office. Sulzer said. he had been aiding
the National City Bank at the expense
Of other National banks. 1t had been
making millions coming and going.
He declared that the people of tn,
country recognized that the secretary
of the treasury was unfit and incompe-
tent to hold the purse strings. The
United States treasury Was made tn"
| instrument Of the Standard oil trust.
aye. moro. ~ said, the propl" believed
the secretary should l., impcached.
Hopkins. I'LL. IN reply said: Il sim
ply rise" said he. "tr protest AGAINST
the unfounded. unWarrantcd and IN
true Oh lrGes made ~ tn" gentleman
from Tennessee tEichardSnn. What
right has he to imputr false and fraud
ulcnt motives t. the secretary Of tn
treasury? When the secretary of TIN
treasury was called upon f"r TIM fact
he presented q fun response.
Proceeding. he said Richardson had
charged mat the secretary had entered
into a fraudulent contract. Il affirm,
said h". that there il No support
whatever for til" charge. Th" custom
house property was sold To- the Nation
~ city Bank. II took possession and
made a lease. | claim that tn" city
and state of New York can proceed to-
the collection Of taxes just as if tn"
paper title had passed.
Under the laws the secretary Of tn"
treasury has sold the property to tn"
highest bidder. What is the next Of
Tense" That the purchase price was
deposited with the National city Bank
Was there anything wrong in that:
That bank is a government depository
selected by the administration hccau%c
of its financial standing and deposit
in the bank was the same as If it had
been in the suh-treasury or in the
treasury itself. | ask. then. in the
name of deccncy and justice. where
is the wrong done by the gentlemen
who presidcs with such dignity and
ability over the treasury department"
Hill. Conn. declared that the reso-
luton for an inVestiga ton was pure
bunco and intended for political pur-
poses just as a similar resolution di
rccted against the Democratic score
tary of the treasury in the last ad-
ministration was.
u asked the gentleman from Hi
nois" (Hopkins) again interposed
Richardson, ''why the $4,000 had been
held back He did not answer it. ]
now PROFOUND the same interrogatory
to YOU
Hill replied that the law under which
the property was sold compelled the
payment of only $4,000 cash. the re-
mlinder from time. The secretary
was compelled TO receive any cash pay
ment in excess Of $4,000 He could
not help himself. The gentleman from
Tennessee. Richardsom, made the
specific charge that il was done for
the purpose of defrauding the city of
New York of taxes. 1T now becomes
him." said Hill Indignantly. Ito charge
the secretary of the treasury with
fraudulent intent. Furthermore if he
had gone deeper into the investigation
he would have asc"rtained that the
city could not lose the taxes upon the
property Therefore. the disreputable
charges that the secretary Of the treas
ury did anything fraudulent falls to
the ground" said he. applause on
the Republican sideD
Richardson replied in a tWo-minute
speech. Neither Hopkins nor Hill. he
said. had made answer to his questions
as to why the secretary Of the treas
ury had not taken paper credit for
81, 40 .000 instead of $3,215,000- He in
! sisted that the failure to answer left
| open the question as to taxation. He
also question the right Of the National
| city Bank with capital of $1,000, 900
70 buy real estate to the amount of
half of its capital.
/ IN closing the debate. DalZel, Ia, said
ne whole question of referring the whole
subject to the ways ana means commit
zee had been used to renew charges that
-" peen answered over ana over again.
ny none better than BY Dronlinent Demo-
w. ne !iouse and country.
Gratis. ''eu several b0A'io