The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1900-01-19
TRANSACTED IN SECRET.
secretary Cages Handling u -
Peoples Money Helps the Me-
kInIcy syndicate.


II is painful thatMr. McKinley's first
lord OF the treasury. Mr.. Gage, Is being
barassed by scrutiny and criticism. IL
Is more painful 10 have 10 do the scru-
tinizing and criticising OF SO amiable
and respectable a person. IL is most
tainful of all that Mr.. Gage should be
doing anything that calls for scrutiny
and criticism.
What are the facts?
First. There is in New York a group
of the most powerful financiers In the
country who were of the largest con-
tributors to the famous monster Han
ma campaign fund of 1896. who are or
canized as the National city bank, and
who have been the recipients OF sundry
extraordinary favrrs from the Mckin-
lev administration, srch as, for exam
pie. the privilege OF purchasing by
private arrangement" piece OF gov
eminent property In New York city for
about 81. roo. 900 less than sts appraised
value.
Second. Mr.. Gage, as secretsry OF the
treasury. as an accountable public serv-
ant. has entered into a secret agree
ment with this syndicate Whereby II Is
10 handle the entire internal revenue re-
CENTS of the government-about $780,
coo 900 wear. No one but Mr.. Gage and
Mr.. Mckinley and the syndicate know
the terms of this secret agreement or
how much profit the syndicators will
be able to make out of the handling.
II is known. however, that the synci-
cate will have each day very large sum
Of the peoples money for which II Will
nav nothing and upon which it Will col
lect heavy interest through loaning II
out 10 the public.
Mr.. Gage says in his explanation &c
the World:
.r, ,s necessary to concentrate the In
ternai revenue receipts OF $4,000. nearly
100000. a Gay at one place In order 10
make any fair distribution OF them from
day 10 day"
But is il necessary secretly to concen-
, trate them? And why is it nece~~ airy to
: bring into the Golfers of the National
J CITY bank collections made In Rich
mond. Cincinnati. Chicago. Louisville,
: 81. Louis, Peoria. San Francisco? Why
J could not the government do the dis
tributing? Why could il not do the dis
D tributing publicly. in order that no one
5 might be able 10 suspect or allege IA
voritism?
y Mr.. Gage says:
.sThe National city bank has larger De
, oost, 81 bonds with the treasury depart
: ment than any other bank in the country
This ample security would not exist IN IN
i case OF a bank whose deposit OF bonds wa
4 nominal or comparatively small.
l. Eut does this change the fact that tn
l. internal revenue receipts, il they mus
r be distributed as free deposits. could b
l. and should be distributed by the gov
v eminent itself in smaller amount
y among the strong banks Throughout
Is the country. in order that all the pee
ID pie might have an opportunity to benz
" FL instead Of little group OF favore
Or money lenders in Wall street?
ne Mr.. Vanderlip. Mr.. Cages fac'otul
n and the junior lord of the treasur.
SAYS:
is .The department will not announce =
new deposltories or institutions which W
: ! receive the money. ] 60 not regard y
nc good policy nor would any good result ITO
be its publicity"
is Where would be the harm? Is il NJ
sc the peoples money? Are not Gage an
he Vanderlip the peoples servants?
A they are compelling the National eli
20 bank TO make a fair distribution
these vas, Gums. what possible reasS
can they have for hiding the facts
What would Mr.. Gage have thought
when he was president Of a nation
- hank in Chicago his cashier had con
TO him and said "Nir. Gage, real
cannot permit you 20 know what
Il doing with the banks money. nou W
- have TO be satisfied with statement
:, totals and results at the end OF I
he year?"
Is IL not against public policy for I
~ secretary OF the treasury in any G
- cumstances TO turn over his functio
~ and the public funds TO private mon
- lenders. however good the security IN
- NAV give? Is il not gross abuse
HI public trust for him 10 make this
- signment to a little gror? of the fins
ciol hackers of the administration
~ litical fortunes, and that by sec
~. agreement?
go II Mr.. Gage is wronging his put
~, reputation by this secrecy his redr
;e easv TO obtain. al he has TO do is
,d;. adopt the orly safe and just course
10, an honest and faithful public oficia
i've publicity. publicity! publicity'-N.
.he World.
rtul OPINIONS AND POINTERS