Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1900-01-12
A

II charges that are MADE against
Secretary Gage and the CityNational
Bank OF New York, recognized as the
Standard Oil Bank, by the New York
papers. are OF u very serious character
They have been brought to the notice
Of the public OF late by the confiden-
tial arrangement entered into by the
secretary OF the Treasury and that
bank, wherein the bank is given the
use OF three hundred millions OF gov
ernment money without interest. The
profits derived from thus confidential
arrangement will reach into the mil
lions and it is expected to net u
handsome profit to the bank, after de-
Quoting its contribution to the Re.
publican campaign fund.
The charge is made that Secretary
Gage sold the New Yor3 custom
house property to the City National
Bank Of New York for the sum Of
s3,20,000, Oh the condition that the
| government WIS 80 have the nse % if
until u new custom house WAS built
ut a rental OF 1 per cent OF the pur-
chase price. or about Sl3u.O00 year
1t is charged that this price Is several
hundred thousand dollars below Il
| price that might have been obtained
/ had the property teeD offered Mt sale
bf public bids instead OF through Il
private sale. 1t is further stated that
the deed to the property is retained
in the Treasury Department as u sort
Of collatal security for $4,000 that re-
mains unpaid and not beng OF record
in New York State makes it impos-
sible for the State or city TO tax tn
said property. 1t is also further stat.
ed that the bank rendered 4 check for
the entire amount OF the purchase
price less $4,000, which remains due,
that the Secretary Of the Treasury
Immediately deposited the check with
the bank, thus removing none OF the
funds md leaving the money in the
bank, 1t is charged that the bank is
collecting Tour per cent interest upon
this money from the government be.
sides having full use OF tile money as
banking capital. IL is further stated
lint the deed remains in the hunds OF
the government for the purpose OF
Hvading taxation rs the property is
not subject to taxation SO long as the
title remains with tho United States
government.
Thus we find that the Trenrury De.
partment and the Standard Oil bank
Of New York City have joined togetl
er for the purpose OF drawing money
from the United States Treasury to
enrich the bankers by the govern.
mont paying four per cent interest
upon the amount OF money rendered
and redepositcd, and to further swim
die the State and city Of New York
out OF taxes in the interest oi said
bank.
This Is Il serious charge and one
that il true brands the Secretary OF
the Treasury and tho officers OF the
City National Bank OF \ ew York rs
conspirators to plumber the public
treasury aud .defraud the taxpayers OF
Of the city and the State OF New
York,
Hon. John J. Lcntz. OF Ohio, intro,
duccd n resolution in the House OF
Representative covering this matter
and demanding nm investigation OF
the same. 1t remains to he seerI
what will become OF that resolution
before u Republican Congress. 1t is
to be- hoped, however that Republi.
Il ~partisanship has not sunk to that
depth where it will seek to screen
public plunderers such as the Secre.
tary OF the Treasury and the bankers
would be proven il the charges could
be sustained. 1t is due to the coun
try that tho charges either be dis.
proven or sustained and the cloud OF
suspicion that must hang over tho
Secretary OF the Treasury and the
bank officers until they are removed
is dispelled. 1t is to be hoped that
the charges are BOT true, and that the
majority i'll the Senate will welcome
mn opportunity TO vindicate the Sec.
rotary Of the Treasury and preserve
the fair fame OF American officials
from even the suspicion OF sn foul Il
crimc.-N National Wnrchman.