r ADVERTISEMENTS. Advetisem".nts are in sorted at the rate o r 100 quare for first insertion, and tor each subsequent insertion TIO cents. A liberal discount made on yearly ad r,rtisements. A space equal to ten lines of this type elk easil res a square. litz,iness Notices set under a had by t r,,. m s.qves immediately after ysie local ws, will be charged ten ce ts a line r es - h insertion. kdvertisements should be re Monday noon to incur' I.! t hat week's paper. Business Dir •ctory. BEAvEa. - AEI;ER. J. BUCIIAN.I.N. ACNEW & BUCHANAN, Attorneys at Law, TL:rd Stteet, Bravez, Penn'a. Opputlic the Argne °thee . , , J. F. DUNLAP, !. at law. Othre 11l the Court lioube Cr. All bus.inees promptly attended to. I,t DONEEIOO pracyce his pro ..--ion to /lesser and surroundlng country r 121 the Border building. :id street, Beaver I s apr23-1 yr LAWRENCE—Physician and Surreone .11.• room formerly °erupted 1.....et.ne Assessor. Street, Beaver, Pa. \\ - l'h yei c Lau alce tit torrrierl% occupied by Dry. Mclitney rt :ice -11e-sicience. McNutre, l I. li. .NDS OF JOB V ()I'M neatly and expe k • executed at the Antit+ °dice. I) A. ttMALL-Attorney at law. !leaver. Pa., A Office In the Court llouae. det-.:5-11 OLIN B YOUNG. Attorney at Law. Office and 6, rebtdence on Third pt.. east of the Court House. I ...nes- prompt.) attend.kto. ap27:ly Mc'lßEEttt, Attorney at La , . Office on J • third st., below the Court House All bust -- prompoy attended to '7OO t'. Kt' & JAME , . H CUNNIN(4IIA I',• Anon.. yn at Law. Office east end of Third Heaver. Pa mar:3o;7o:ly MEHL, ffiannfaLturer and Dealer In I boot s . shoes and (inners: Main at. Isepttily tt-~\LK DRUG Andrteet'en ) Druggist A: Apothecary, Main st. Prescrip . earetully compound, d (-ep2B;ly NEW BRIGHTON. •!I .k ('OA E. Braler in painto. P' n, g garden r-feeds fancy lota la. Fall., street, ' Brignwi, e.efr2l - 71-I.y EN ER 111 N 11a5},. suulxcturcrrorcar V V rtageg, bugg;ies, t , pring-wagons, buck-wag an(' Tehicles of every description. Bridge S. pnctlesl workmen. Succersore to George M inart;ly ~ .ANGSTECHER, dealer In Watches, Clocks I . Jewelry. Repairing neatly e.xecuted, y. Ilvar W NIPPEILT. Baker SCoutectioner ; lc,: gl • reatn. oysl,Cre and (.11Ille lu ni,.1,011 WlCkallgS...tc.. supplied. not 1 IVM WALLACE. Dealer in Italian & American / 1 Marble Manufactures Monuments, e tilts at reasonable prlces, ltabromi st., new Depot, New Brighton. 1-eir27 11 , TON RESTAURANT and 1. - -rriNo SA -1) tooN, mealea at all hours, table supplied with he delleaJes of the Benson Prices low, Win. -• hand. cur. of Paul and Broadway my l'7l-1y _ .1 SNELLENBERG. Merchant Tallors, Broadway, New Brighton See adt• Ispl•Lly I. N . terks, Photographer Willson's Block, I Lroadwk. Best photographs from re-touch , n,, games. teoplltly BEAVE.It FALLS I "'NI. ROBERTSON. 1h In the jis , tly r 4.1, braced Dumerolc SeNsitt; .NlAohine, ;.rd be coliv.lnctra. 31.1 th r 4.. B. Fat., ksirn TEN E'SSON I tili, ITTIsII. °MCC', Be. St., 1h h and fic.kvcr Fft111 , ... 'l,, Pa. auLc2s;ly. 1 A EL% A in ,t 1)..:0er% In Yank,. No -I I Nl.on :C.l BRIDGEMI ATE Et I %\ 2:1.7 :NIA N. Nlannlzo -, urc of lindae St_ tiridgewatter. kbcp2;.ly 8.11.Tt Shady-Sido Photograph 1.:11- e) . flour. Dunlap'p eurner, t,ppo,tte I.'ll ilrolL!•water, Pa. aprl6-1y AB11.1:1111. Bring,. street, liridgeetater. . Dealer tn i.-el and sliver Watches. (Leeks. Jewelry and Sliver Wive, Spectacles. Ss es, Clocks and Jewel r rumored. 1.1 A I CI - EthilLLEll.:l o l.lltonable Tailor None Set experienced workmen employed. :shop , r ridge et.. Bridg,ewarer„ febS'7l,ly C. HURST. Dry Goods. Ilatr, Caps,l. ure, t • l'arpete, Oil Clutha and Trimmings. 'Bridge St., Bridgewater. Pa. eepl4;ly HOC HE STE R. IV \V .I(.llSSON—Deztlyr In . Wall Paper of 1 V all kludi. 011-Cloth. \\ indow Frunko* Satchel,: Basket,; Toy r art, 11":,17 0 1,, th,lrs and To), of ever): de,crlption. Near Ue -110,29-1)" `WM:ASTER UOUSE NVolf Propr3r -1 / :or Pro Dono Pabhco. Street. Loar tiov•.:o4l. I 'go! , KENNEDY U. to m. 1 Rnechliu_.t Drtaguists and Chemists Yn • 4 !Dais carefully compounded at ail hours. In Inamond, Rochester. , se.,• \‘ ILL SMITH fi CO., Nancy Dry Hoods nom. and Millinr.ry. Ilitadisou et., hear Dm- Rbcitester, Pa 1I ENRY LAPP, Mannfacinrcr and licalor 1 Furnitnre.of all kinds. Brighton rit., abort. Factory. Sec adv't: (647.14:1y AM L'EL G. HAMM:, Presmr- Cl Lions carefully compounded. Water et, PEYEREIi F ..7.ONS • holepale & Retail D.• 11 DrY twoda N Grorerieb.Fluar,lfeed , Gra: l, o • Crm Water .t• JaDler FT, , &CO Cont ra ctors and ituild,r. 1 • M cnfartarer, of Sash, Doors. Shut tcrs . I..ninbsr Lit h &c. RochcAer 1.1,-21.1) ITT. BOYLE & WILLIAMS, Sucr.••, , or. to t•. Dealer. in Bawod and •...er. Lath it lloche.ter ELE,iI A: CLARK, praopmetors ot Johnston mood accommodation, and good IF ta 11 R Depot ortlfr. y A LLEGHEN VITV ~ WlNANS...E:ectrical Yhysim C ae: hrot 1) made a apecialty. Office, IS7 Wn.ll hvenur. Allevbeny City. Ha. L.epi 1:1y MIS EL LA EOUS. 1 B. Freedom. Beaver eciuz.•y l'a el • dealer iu Saweil find Plan.4l I..rmarn i.; 1,`.;,d• Flats and Barzes built to order. laule7l ttlIN LAW. tnrer of the t.ra r) Itepuhlic Sto‘e, and Patentee 1. 0 ; • .‘• top and cctitru Fa/ Ir‘ton. Pa. V D. ('OS E, VI. D., e Datlin:nt , n - • Itavina rt•moveti New-BrlL.htt L. otr,rl 1,1- in-dic.tl, , ,rvirt,, In flu IT. Itrancli,t, to th.• . , hr clt.) rind ,tutTonndinz t oun:ry tilt rr. , r of Butler anti 8r0,t,.:5 . 7, 11 i sr el fan eon's. 'W. NV. lESA.I,?PiI.:IR., •11 , (•,..11 . T., NcIioLL.ALG A NI, I: 1)} . ..11 El; I CHROKO LITHOGRAPHS, Fr.int, of Arr:lt, Sti:•hflf.' , , Sc..; ht , -1 , 1v.:1. Pa. Homes Still Largr 1•'c_)1; THE MII.1,1()N! oppornmitir,‘ I:: wild •r or.c-third of th. it vame TILE NATION AL UAL r` , l VI'L AOF N for F.:lle 1 , 4; ev.•r) , tn, Mitht I, a N I soiro,n, s•-o, L grain and fr,ir,krms • ,ocar ni•.l • . • • :.rotations: fira4;r: not tra,erfii Lovin and ' , fro( re.tderc.c. • nil will nitfec . larlo Flex, r' • for La r.fi and corms of pror..^.llf.. II 4. w. CLAIIXE. co. r. • .V.:!1 irn j.',21 Exta!" !f, 174 lo a .4 ibtft.t, P. e ,Vl.l - 4-ntt.i Wan tett.. i% v AZenie tot the ' , NC 'S - WHEELER .j SEWINt., I: . e.1,1r; :4 - ti menu Can g!ve ;:tmel referee. e n. I " ter and ability. and furnipll teet! v We will pay vilarantred m2larirA. or lat., to proper TIOlo. 01117 suchl4.n • ile:tre to enter the baldness need apply CO , No. 140 Wood St . l'ot; Pn. Imart,lv A OID QUACKS AND IMPOSTORS Sr Charge for Advice and Consultation. 11 &oft. Graduate of .7.fferson Ifrdteui . Philadelphia, author of eel-era! valuable ~•• ran be consulted on all diseases of the .al or Urinary Organs. %which he has made an • •;— , tai study) elther In male or female, uo mat toin what cause originating or of how long • A practice of :1) veers enables him to disease with success. Cure. guaranteed •;;es reasonable. Those at ti lii,ellllC4o can for -.,,i letters deter/him:symptoms and enclosing rip to prepay postage, send for the Guide. to Health. Price 10 cents. .1 IS DYOTT, M. D . Physician and Surgeon, • Iyl 104 Duane St , New York. $50,000 Reward ! tlilktributed to Kihsenherr to the ANLERI 'WORKING PEOVLE In rra It to the on !• Wortiingmanl , Tariff Monthly; hal It; large • ulrti. pa,;es with Illnstrattuns. E-er,v Subscriber Gds a Premium, ' t-ymg from 25 cents In valae to $5.01.1 in green . Am‘Aag the preratorns are 1. of $5OO in 2 of tligt . . 10 of $100: 100 of $111; 500 of org.tn., $2.50 each; 10 Seternt; each. 50 A m,rman $4O each many th ,, o6and 01 groaner 4,rernium, $1 7.0 ser year, 5...111 on Aral thrt-e ruot.ths scuts :send for soecfron, 10 I APRON S CO., 4-2 :Ma Rox 4, Pittsburgh, PA. New Government Loan 13A N LUNG 110C:' E OF James T. Brady & Co., 4th Avenue and Wood Street, PITTSBITEG li, PA. We are prepared to exchange "al' issufl of coy -,T,m-nt bonds into the new !lye per Cent. loan of Le United States. . 13vutNas Vol. 55---No. 18. anted in insertion ALPS INSURANCE COMPANY OF ERIE, PA. Cash Capital $250,000 00 Asssets. Oct. 9, '7l, 311,948 29 Liabilities, - - - 5.200 00 0. NOBLE, President; J. P. VINCMITT, Vice Pt. H. W. WooDs, Treasurer; Tuos. F. GooDrucu, Secretary. DIRECTORS: lion. (1 - Noble, Erie Hon. Geo. B. De!meter, .3 W Hammond,- dol Meath:llBlo'a. Hon Sehien Marvin, do Hon J P Vincent, Itaie Hiram Daggett. do Henry Itawle do Charles llReed, do, G T Churchill a- do H 8 Southard, dolCapt J 8 Richards do W B-Sterrett, do Richard O'Brian, do H W Noble, do I F, 1.1 Gibbs, do J Englehurt, do ,J ohn It Cochran, do .1 1.1. - Neii. dol NI Uartiebb. do WII A bbott, Titusville. Cap' D P Dobbins, do Jun Fertlg, Titusville. Po , ieCfe -.issued at fair rates and liberal terms. Insures against damage by Lightning u well all Fire. CHAS. U. HURST, Ag't. Rochester. Pa.. Dee. 20. IsTI: ly , • iiprlGly ISE I= A Word With le ou ! If Loh want to buy propertv, Ifyi - in want to sell property. If you want your bouse insured, li yon want your goods in.ured. If yoti.want your life Insured, you want to insure against accident It you want to lease your house, If you want to hire a house, If von want to buy s farm. I:" %Oil want tosell a farm, If y4n want any lezal writing done, Do not lull to call at the office of Eberhart & Bedison, GE.7O.:IIAL INSURANCE AGENTS AND Beal Estate Brokers, No. 223-Broadway, Hew-Brighton, Beaver county, Penn. Profess on al Card.% GILBERT L. EBERHART. q.c,rucy a t Luw, Wl'; rztve plimnpt attention to collection.. pro ell7:nziounti.. and pension!, buying, and selling 0111 an lito:1 , 1W11), onn , ,lle It E SII Boone.' Ilan-«, New Bri.zhion. er , Pa. p•• 1, 1!I JAL :1 CIOATRON CAMERON &. MARKS. Attorneys at Law And 'Real 1 7 .statc Airent,c. NV:!I rit!ond promptly to nll hush:ess entrusted to th,ir ,ire. and have r•uperior facilities for Anytng, aryl >•• rt.:o e,tate. dec 11.1 y T.J.CHANDLER, Dentist, FM continnes de - to- perform all °pent . i.c.V.41,1”." dons in the dental pro , - fessbxl at his office, '3. Beaver station, Roches ter. All who favor him with a call may expect to have their work done in the lic.t possible mann... - • and the most reitzon able terms. • The hooks of the late firm of T J ('HAND LFIt & SON nre iff his hands, where all who have accoahle 4111 please call tram..dtately and settl^ the ,arne. may I v 3ID e Dr. J. liar. ray,oflindge water, deter mined that no Dentist in the State shall do • "- " . work better or W 1- „4- „sr cheaper than 4144 P*. he offers it to his patrol:m.- 11e uses the be , t materials manufactured tattle United States. Gold and sil eer filling performed in a style-that deter compe tition Satisfaction guaranteed In all operations, or the money return.•d. Give him a trial. felr2:l% Manufacturers. POINT PLANING MILLS, ATER ST., ROCHESTER, PA (bepl 1 13 HENRY WHITEFIELD, MANUFACTURER or Sash, Doors,Mouldings,Floor-boards, ll'ett her,boards, Palingg DEALERS IN ALL KINDS of.' LUM I.&Tli. SHINGLES AND BUILDING TIMBER. 11:1% 1r..: purr-hams' the the territorial in t.4-rest of Mr J. C. Anderson, owner of the se% era' patents covering certain improve tilet,lsAill the ronstr-ction and join wheri ,, ,and , and lininzi I r houses and oil r boil l t ae are the only persons autlierfied to make and sell tve,,r.iarne within t fie limit of Beaver count) '-( Par ties mitre:44Al e -II please observe t his. Curpenters' (I'mstantly Kept E‘, ry Trcidc to ord , r rt 1:1t Foundry (.Repair Shop. UM hyrii Eng . lgi.(l in the Fininfiry Llwtn ire for 111,110 than thirty time has, a, cr.u.1.01,1 a var',..tr of useful pattern., he s“te- c 'Ling model* and tak.lio4 out patent. ft, on iiu r+ COOKING - STOVES r 1:3 , .n;: ttiorotizlily tewted I I.rouein , I feel warranted in fdTering tram to !Le ~,t11,::• MBIE 1=" ®or s, The GREAT WESTERN has no Su perlor for this Locality. STOVES! Sto• 1):4;e rent Styles for Heating and Cool: to The Great Repablic Capital Stove Elko the bent Record of any Stove ever offered to 11=1 IT TAKES LESS FUEL, I,IISS 1:0031 TO DO MORE WORK, BEST BAKER, mclwrnurtAlßl.F. THE BEST STOVE IN TSE In connection with the stoie I have got up a Patent EXTENSION TOP, which occupies little room, no additional fuel, and is not liable to wear out, dispen ses with all pipe, can be put on or taken off at any time, and made to suit all stoves of any rite or pattern. Vis-c Hundred Person Who have purchased and used the GREAT REPUBLIC COOKING STOVE, Most of whose names Lave been publish. ed in the Antics, are conBdentl7 referred to, to bear witness of its superior merits as a cooking stove. Having three first elms enrines on hind. of cbo:t fifteen horse power capacity, they are offered to the public at reasonable rates. JOHN I'HORNILEY. ror:6•tL COUNTRY RESIDENCE FOILSALE SITUATED 14 MILE BELOW BEAVER, and having a delightful view of the Ohio river and surroundiry , country; I mile from R. Sta tion; house brick, two stories high, 4 rooms, attic, lull, cellar, notch, etc.; all finished; wash-house, smoke-house, well of water at the kitchen door: new barn and stable with cellar. Nice paling fence in front of property; all well painted; good orchard in bearing condition. grapes. plumbs, cherries, gooseberries, and an kinds of email fruit. 54111 be sold on reasonable terms. Apply on the premises to the owner, 3. M. GRAHAM. .. . --, ' -', '. ' .'-' - .4 , .cl.? '-; •-•, -- , . . , , . , , • : . . . . .. • . , . --- ,7„. --- "7" - • ' • - •' • - •- , -: • - -.•"• --- alt MOM 1. - -•' f ' I -I , i -..-.. . i- -,„" . 2- .'ll I ~..1), , , , ;. : 4 ,..'i: • . RGUs. ... . T 1 ~ .:...:::: .. . ..L . ... 47 . .. ' .1 . , ~. - ~.':. - ^:. l, ,•-' 1 ' `,- " :-'• , .. ~ . . ',',,,,,:',..t: Insurance. E= JOHN Y. MARIN. Rochester, Pa., e 1 a, e. A Is°, on Ilund mailer A L TOG ETHER Dm, Geodii. A. W. ERWIN & CO., IMPORTERS Jobbers DRY-GOODS, JOB LOTS ii'llo - xt Ws A. Si 'P 3E FL INT .kUCTION SALES Nos. 172 cud 174, Federal Street, Allegheny D'CI I Insurance. it OCI-IF,S'T LIR Fire Insurance Company. INCOILPORATED by the Loris!store of Penn pylranta, February, U 72. °dice one door east a Rochester Sayings Flank, Rochester, Beaver county, Pa. People of Deaver county can now hare their property Insured azaln.t loss or damage by tire, at fair rates, In a safe and RELIAILE 1103 IE COMPANY, thereby avoiding the expense, trattble and delay incident to the adjustment of bead by companies located at a distance. BOARD Or DIRECTORS: J. V. hi'Donald, George C. Speyerer, Samuel B. Wilson, Lewis Schneider, William Kennedy, John Grmbing, ittetshall hi'Donald, R. 0. - Edgar, M. Camp, jr., C.B. Hum, David Lowry Henry C.:retiring. orSICERTI: GEO. L. SPEICERRR, Puts'T .1. \' . li'lloNALD, V. Pre, t. H. J. SPETEREIt, I rras. JOHN GIEBING, JR., jy3t;ly Chas. B. Hurst's INSURANCE General Agency Office, NEAI? THE DEPOT ROC H ESTER, PEN NA Notary Public and Conveyancer; HUE, LIFE, and ACCIDENT INSUR ASCE; "Anchor - and "National" Lines of Ocean Steamers; "Adams''and "IS ion - Express ALTvnt. . All kinds of Imurenr e at fair rites awl hberal teiins. Real Estate bought and sold. Deeds, Mortgages, Articles, &e., written ; Depositions and Ackwo% ledge ments taken, Sc. , Se. Goo Is and Money I , wwarded to all parts or the United States and Canada. Passengers booked tit and front England, Ireland, Scotland, France and Germany. ~ETNA FIRE INS. CO., 01 Hartford, Coon., Cash iLssetts • " lip tin-1r fruits ye know them." ,Losses paid to Jan. 1, 1871....528,000,000 One of the oldest and wealthiest Compa nies in the world. NIAGARA Iniurance Co., Of New lurk fLisetts, ANDES FIRE INS. CO., Of Cincinnati 3 Ohio. Ca.sh assetts, $1,500,000 ENTERPRISE INS. Of Philadelphia. Cash assetts over.. LANCASTER Fire Ins. Co. Of Lancaster, Pa Cash as.4etts ALPS INSURANCE CO., Of Erie, Penna. Cash capital, . $250,000 HOME LIFE INS. CO, Of New York Cash $490,000 Travelers' Life & Accident InSurance Co., Of Hartford, Conn. Cash assetts over 51,500,000. Representing the above first class lusurance Companies.acknowledged to be amongst the best and most reliable in the world, andrepreseating a grim cash capital of nearly $16,000,000,1 am as sided to take ee any amotret desired. Applications promptly at te ndde to, andPolieles wdUmw ithortfilate__ t y and Utak rates mai liberal terms. looser liberally *Quoted and prompt/sr aid. INSURE Tr PAY? By meters delay rue may lose the savings of years. Delays are dangerous, and life uaeertaln; therefore.lnattre re dayf " Oro to-dap, to wort% two to-osorrotro."— Quality. also. Is of the utmost importance. The low priced. worthless article. always proves the deuest. The above companies are known to be amongst the best and wealthiest in the world.— " As ye sow that shall you. reap." Grateful for the very liberal! pateanage *beady bestowed, I hope—by :strict attention to street !mate business—not only to merit a contiattence of the same. but a large increase the present year. lir. STEPHEN A. CRAIG is duly authorized to take applications for Insurance and receive the premium for the same in adjoining townships. CHAS. B. HURST, Naar Depot, Rochester. Pa. insrs-tf DMI RETAILERS -OF CITY. AND $6,000,000 $L500,000 $600,000 $240,000 Beaver Pa Wednest7, 1873. • = 2204/rocttis. ...,1.- - --,--_--_ - ___L.........4.__________f_ • . - DAILBOAIIL-Prressunsis.,Ft.:Wairsrs4l - - " - ' iP u bile k ed 14140,1 8 t' l It. Ctucacia Rattarax.-Conienaes Thine Table' :• 7 . . 7 ' ' '. , ', from December 22„1872. Palill4lll ;90;1 . alums Gonna wive. -,.,. , . . " , • ny J. w.1.MV1.1-n: : , No. 1, - No: & Worft No. & - ,;,- - • • ''''''' ,- "r,, .f s ; • -- - 9 9. 1 .210X11. I Fat Ez M raellit Nit Ex Ay went. Are. we" ' lni t , - Since God, my 5 lends Pittsburgh. l4sar 600a1t 910 item Totes[ wham osiers PP Ade - Rochester. 252 TN 1025 WO - Tbrottgh verdant ' Alliance Ampun - - Isom ea • lie makes my 'motto' ~ Orrville 651 12191,31 gpy lon ' < Health from' their Ides: Mansfield 855 515 509 911 And; Air bit name,,miAtd tow. A 920 400 540 940 . ; ',Y nOllOl . 410.5, _-„, , . Crestikle MD - " 940 555 aw coo sal ..i 1 1105 .. To, ii n 53 ~ 1115 ' ' Ye i tlart ;D gl _A IL e ; i li Forest Lima i 1208sm • 91X1 5 1217-sx _ ' . • II Fort Wayne. il 540 :103 Milli 'Se .. ' . Tiq presence sh all AIN stead Plymouth , f 445 2115Yx 25C. . .505 '1- ' From tear of 111:4 t• .4 Chlaigo " 750 CSO 650 ' ''lna --- • • • Ron; through Its &re < rod . To bliss shall Do At y• TRAINS GOIMI EAST. - •.- - - . L.. , 1 - Ivelo , ~. ....: t • , 1- , Iny stilf,in al the , 0 , IN°. 117 No. 2. No. 11.1r4o: 4.3 •My rectified-11Np- ~ sTATIO3S. ___'. • 4,1 I —...-- —..........- --- ' .My cup with woe ' Ws; edica2o ' - f 1115 Alt 1199.4 Man ourre • 'rhino oil anoint* _ W bud__ f . Plymouth- ..... 915 11202r* 855 210.5 k And in the preset:m( 4 4y I.l*- Port Wayne. . 11 2 0 ris 920 • ' 1120 600 < MY 7010512 -5...',. Lima 545 - 407-- llnao 9051 m Rarely, MY grace love. Forest ....' 400 608 227. 927 itrotigh iliselmal t yr - mu, 1 11 1 30 Aid d . eve [ m y hom in tL e y house mbnn. Ye Crestline .1 A -'1 1130 635 6 s l) . .4°5 10 An Mansfield D• •; so 650 41 5 I. 610 . 710 44.5 1205 est ' "s'f playsa co. Ist). Orrville..... ... .: ..11 MO . 020 ~• 027" SIR Alliance • 1145 • 1100 .F 095 1 ~ 420: Rochester 1 95Orsti 112,5 x 100 655 Il Pittsburglt. i 400 I 220 : 1145a0 OQO - • ri:r 6, daily No x Ic e d p a tSu nxdy tMa a ; N 0 0 , i d . i , 2l:ly 5,7 4 ~ R.MTERS. - Ticked -Agent. CLEVELAND & PrITEDURGH RAILROAD. r On and after Dec. 22, WM, traina,wlli leave Suit tuns daily (Sundays aseepted) 4a follows. nom 11013 TN. STATIONS. Matz.. Exr,a.iAcC9n I Cleveland I 830 ale 155rst 41113214 Hudson 043 802 518 Ravenna ..`3/15 333 54?) Alliance 0110 413 535 Bayard I t 144 414 • wcllevillo I.lorx GOO • • Plttenurgh........' SW 820 GOING II Onia• STATIONS. — MAIL. Amon! Wan , 115eu 8.15 310 Baynrd .... . tnriO 453 Alliance ..... 1125 517 7'2sak Ravenna 12124•31 556 015 1245 (du I isai Cleveland 155 720 ;1015 I vs yes, Arrives. Havarti 12 . 10 & 500 p. in. I N.Philad.B;oo& 730 p.m. d.lpm. Bayard 9;43 a.m.&4 p.m. NIVIIII k tIOING ll= CZ= MD OEM Bridgeport 555 Steubenville 657 Wellsville 815 Rochester. ' Pittsburgh {,1040 GOl2ia WE ILM 132311323 630 A. Pittsburgh.. Rochester... Wellsville... Steubenviiie I1 ?40 r aso 1 ow 1100 i!lo Bridgeport Beliiiir Rummy General Manufacturers. J. B. SNEAD Has now in operation a new SAW AND PLANING MILL IN FREEDOM, PA., !laving the latest improved Machinery for 1 he manufueturi .Fsmacocoi:LiN, S D ;1' LATH, &C. &C., and is now :prep . ared, ttitittent, to_ th e building and repairing of • Steamboat; Bap; Mis t &e,j Keeping constntly- on hand ti-superioi quality of Lumber. The patronage of the public is ropectto ily solicited. All orders promptly executed. [inig2•ly WILLIAM MILI.IIc, J ACOII TP.A X, PLAYI? MILL. MILLER & TRAX, Manufacturers and Dealers in Dressed Lumber, SASH, DOORS, SHUTTERS, SIDING, FLOORING, MOULDINGS, &c• Neroll Sawing and Turniug; DONE TO ORDER, ORDERS BY MAIL RESPECTFULLY SOLICITED', AN ATTENDED TO. Mill Oppomite the IMF'!road Station, ROCHESTER, PENN'A. • april 19 '7l; 11- Brighton Paper Mills, BEAVER FALLS, PENN'A. PRINTING, MANNILLA, ROOFING, BAILING, Hardware. Glass. Straw. RAG AND CARPET MANUFACTURED And. Sold At Wholesale etc Retail by Frazier, Metzger & Co.. S 2 Third Avenue, PITTSBURGH • "Hags taken In examine. feeplik;Ca Boots and Shoe*. 8., EM OVAL. GILL ec BRO. W II 010 A LE Boot & Shoe House, Have removed to the NEW. LARGE & ELEGANT FOUR-STORY IRON-FRONT WAIIEUOVSE, No. 253 - Liberty Street, PITTSBURG,II PA 5 Doors from Head of Wood &req., And are now ieceising one of the largest Spring stocks ever bmoght to this mar►et. An enemies lion solicited by all buyers" before purchasing elsewhere. All goods sold at THE LOWEST EASTERN RATES mars-3m EX OCtator'as Notice . I,:d ate of Andrrw McMillin, Deceased Letters testamestary on the estate of Andrew McMillin, late of New Brighton. Beaver county. deceased, having been Muted to the undersigned, all pessots Indebted to odd estate are 'requested to make Immediate payment. and those having claims, to present the same without delay to B. McCALLISTEX Ezecutor, BIUDGRIVA2IIII, Pa. Post-office address— Care of Mrs. S. A. McMn.uir, New ittrighton, Pa.. or marttixar.) Bea 1318, Pittsburgh. Pa. ' sr.raw! • THE: 'STATE lI:RANCE& ..........•,,,,,:. ; . A . 'DEFALCATION - 0tt2988164 I AN • :,Ell.o4o*ATltellt InAtelirmstp, .... The Treasury Ithag kabezittu age Pate • of the' most - DantiggiUg charges f SPEECH Of HON4OHN H. ORVIS, DELNESSD ICTilt ROME CIPIIIIPRBBEI TATIVES O MEOW, LULL 8, 1879, . —,--±'- - Mu. SPEAKER:.- I would have - preferred, if time hadv-permitted, go ing into committee of the whole where amenduientartsuld have been offered and discussgd lathe ordinary way. But the gentleman hiving charge of this bit) his stated that the same latitude woubd be allowed ,to the house as in thelprrimittee, and I propose tosay tiowexhat I have to say .in oppositienle this measure. Had the gentletitia-on this side of the house seen fit tefinterpose the or dinary parliamentery obstacles in the way, they could Iwo prevented its consideration durit,ig this session, for it :stood so.low upqn : the calendar , it could not have 'Jeep : reached In order, and I: assert the,y. ouid have been perfectly-justified -so doing, and that the respottsib itt for not cool / plying with the ti cements of the' constitutional, anieadment ratified at ,the last general election would have rested. upon the Wersjority in this house.:., The ' mino rity, . however, have determined' tlpt to prevent the passage of some aft to provide for the election of a State Treasurer, but to held, the majority responsible he fore,the-poople fonthe propriety of tra.-provisiens. • Two years ago a joint molutionltO amend the consti tution 01%-fthe State, changing the method ofelecting the State Treasur er was passed by both Houses in re sponse to, the uutioOted opinion of tite:people.thata ridlcal change was required for the pane good. That reaolution was again -passed at the IptitoBBlo.o of. the'aegislature, sub. mitted to a vote .. 6f the people, and ratified by the unprecedented vote of 081 A.l:l_ GO end 4.01)fi Against - it. We witylAyitivaiktjainianimous voice :of4helpeople thafthe !change should -bestnade;, ; .: Au 'change in the funds •ioentaijaw.-Of.,the State was ever -Makdatteatnearl y . a unanimous vote e.1. -- n; ..,,1 --. *!. _" . • *,, .. ptiarriazulate of the soyereisq., ..,-. , '-'''i;ef - ; Pensylvania, a gentleman on , ; sldeTtlf the cham ber, tlulfgentleman from Westm ore land, (Mr. List • rly , in : the ses sion, on the 0 1g,4, e , ^ uary, • read in .plipzeoldikkk'' ‘ . •• if be` Of alit* . TreaS, " f by be - Pie - Ple, and it was refer ` t . .:0 the general ju diciary committ4. This bill provi ded for the election to take place on the third Friday of March, 1873, and the newly elected treasurer to enter upon the duties of his office on the first Monday of May next, when the term of the present treasurer expires. The bill contained other provisions made necessary by the change in the constitution. The committee, com posed of a large majority of Itepu b licans. instead of promptly actin g upon the bill which was the first im portance to the people, and amend ing it to suit their ideas of right and propriety, if any amendments were needed, held it without action for four full weeks, anti then reported it back to the House with a negative recommendation, which put it in such a position as not to be reached during the session, as will appear by reference to its present place upon the calendar. Tne majority of the committee offered no substitute for it, made no amendments to it, but simply negatived it, and from that time until the present bill was re eviitly introduced, no action has been taken by the majority party of this House to corn ply with the mandate of the people as expressed in the re cent amendment to the constitution. There can be no question in the mind of any sensible man but that it was the intention of the people to elect a treasurer who should assume the office at the expiration of the present term. The action of the majority in this House and in the Senate in thwarting the wishes of the people in this regard by failing to provide for the election of a treasurer before the expiration of the present term, was in open contempt of the unani- 1 mous desire and demand of the peo ple of tile State. There were no reasonable objections to: the provi sions of the bill introduced by the gen tleman from Westmoreland. It provided for a special election upon the day when four-fifths of the coon- ties of the State held their spring elections. The" extra expense en- 1 tailed upon those counties which had no election upon that day would not have amounted to $20,000. The only excuse I have heard for not passing that bill in the early part of the ses sion is, that the cost to the public I would be so great as not to justify it, and yet in four-fifths of the counties of the State no additional expense would.have been entailed. Ido not know the answer the majority of this house will make when they re turn to their constituents and are asked, why did you not comply with the spirit of the amendment to the constitution so unanimously ratified? I do not know what apology they can make for violating this amend ment to the constitution in the first year of Its, existence, in refusing to permit the people to elect a State Treasurer. '-. The provision of this bill continuing the present incum bent in office for a full year after the expiration of his present term, is a plain, open palpaiple vlolatlon of the requirements of the amended consti tution. IN ISION LAST. MME AcLog Earl 10r4Am 1100 12111 ex 135 235 840 445 115 &10 Accoit FIIE2 LSII2 115rx 425rx 220 SW 820 700 420 SOO gas &L 0 920 F. IL MYE and' ?last RS, gent It may be well enough,MrSpeaker, to look into the rummer of conduct ing the treasury departMent for the last few years and see what brought the people to the temper Wh ich in duced them so unanimou slyto re quire a change in the mode elect ing the head of that department. Possibly an inquiry in this dirion will also explain why the party \ in power so evidently wished to pot pone action upon this subject untl this late day, and thus prevent inqui ry into the condition of the treasury. I propose to call the attention of the House to some figures, and I will (call upon those who are recognized us leaders of the majority: here to ex plain some of these figures and ac' count for the discrepanciesand incon sistencies which appear In them. I especially invite the gentleman from Tiega, (Mr. Mitchell the Chairman of tile Ways and Me ) ans Committee, which has snecial charge of thefinan cial interests of the Commonwealth, the gentleman from Franklin. (Mr. Mahon) Chairfna'n of the Judiciary General Committee, to which this bill was referred, and the gentleman from Allegheny, (Mr. Newmeyer) who now occupies the chair, and has special charge of the bill here, and auy other member who choses to rep resent the majority ca this question. I ask them to explain here the fig ures to which I shall call their atten tion, taken from the official records of the State, and not Wait until the Legislature has adjourned and then allege through the newspapers of the Commonwealth that it is mere po litical talk. There will appear some singular figures, of which the people will require an explanation. I de sire first to call the attention of the House to the condition of the" finan ces of the State on the first day of December, 1866. In the last annual message of Governor Curtin to the Legislature in 1867, this statement is made concerning the public debt of the Commonwealth: Public debt Dec. 1. 1845 .... •. . $ 37 . 4 7 6 458 06 Amoral; paid dam g the year ending, Nov. 86. 1866 6 per cent. 10an.... .11.823.633 .23 • 4,Li per cent. loan WNW() 00 stetter notes G2O 00 DOMeede creel. certif. Public debt .... V 11,1142.052 Id I wish particularly to call the at tention' of the members on the other side of the house to this statement of what the public debt was on the first of December, 1866, $35,622,052 416, as the accuracy of these figures becomes most material as we proceed in our Investigation. An itemized state ment of this debt is also given as fol lows: sts per cent loan $ 400,630 On Fife per cent. loan . .M.0t3.195 59 Four and a half per cent. loan 213,,M11 CO Six per cent. loan military, per act of May 15,18111 . . . ... 2,81.0;750 00 Relief notes In circulation 10,023 00 luterest certificates outstanding .. igstrill 52 Interest certificates unclaimed. 1,144 04 Dom. tic creditors certificates 119 67 Making the sum of the nubile debt, funded and unfunded, interest bear ing and non-interest bearing, at that day, 835,622,052.16. These figures will be found in the gover,uor's mess age, executive document, tool. 1, 1866, pages 3 and 4. Now, to verify the accuracy of this statement, I wish to call the attention of the house to the report (tithe auditor general for the same year,so that it may not be alleged that these statements in the message of Governor Curtin were untrue. This same statement of the amount and character of the public debt on the Ist of December, 1866 will he found in executive documents, vol. 1, page 2.31, in the report of the Auditor General, John F. Hartranft, the present chief executive of the Com monwealth. This statement is also verified by the annual report of Wm. H. 'Kern ble, the then State Treasurer. There can be no doubt, therefore, of the eorectns of this statement, un less the heads of all the departments of the State government deliberately falsified the records in stating the amount and character of the public debt at that time. I wish the house not to forget this, because I will call the• attention of the members° to a subsequent deliberate falsification of the records and accounts. In the January following, the term of office of Governor Curtin expired. and his succcessor was inaugurated on the 2d day of February, 1867. Governor Geary approved --an act passed by the Legislature providing for.the negotiation of a new six per cent. loan of twenty-three millions, in order to take up twenty-three millions of the live per cent. :10tin then overdue. This act was passed by thedominant party, and for Its wisdom or folly that part Is alone gnsSnitible:::. It, is true that $23,0Q0- 000 of the public loan • Was 'ciVerdue, and if the creditors of the State , re quired payment, it was not only the right but the duty of the Common wealth to maintain its credit by re deeming this over-due loan, which could then only be done by negotiat ing a new one. But the creditors`of the Commonwealth did not desire the five per cent. loan to betaken up, and as evidence of this, it is only necessary to refer to the famous cdr respondence between the thea State Treasurer and August Belmont, the agent of the Rethscbilds, who repre sented a large portion of this loan, and to the protest entered by the capitalists all through the country against having their five per cent. bonds redeemed against their will. Wei have never heard from any member of the majority party any justification of that item of their financial policy—the negotiation of a loan of twenty-three millions at six per cent, to redeem a loan of twenty three millions bearing five per cent. interest;ugainst the wishes of the holders of that loan, thus annually inoreasinvthe interest of the public debt $230,000, by which the taxpaydrs of the State have already lost $1,380,- 000. The act before referred to, approv ed February 2, 18.37, provides, among other things, '•that the Governor, Auditor General and State Treasurer be and are hereby authorized and empowered to borrow on the faith of the Commonwealth" $23,000,000. It was a special commission created, consisting of these three principal officers of the State, to borrow this amount of money on the faith of the Commonwealth, and apply it to the payment of the bonds and certificates of indebtedness of the State, and for no other purpose; for the act further provides, "that proceeds of the whole of which loan, including premiums, etc., received on the same, shall be applied to the payment of the bonds and certificates of indebtedness of this Commonwealth." • In fact, the Legislature could not have author ized them to apply the proceeds of this loan to any other purpose, limier the provisions of the amendments to the constitution of 1857, which limit the power of the State to contract debts in times of peace to that pur pose, except the small amount of $750,000 to cover casual deficits in the treasury. During that year the whole twenty-three million loan was negotiated, and we ought to presume It was honestlyand faithfully applied to the payment of the public debt, its it could not constitutionally or legally be applied otherwise, The only change - made in the condition of the finances of the State wits the substitution of one loan drawing six per cent. interest for a loan of the same amount drawing five per cent. interest, and of course did not in crease the principal of the public debt. In order that every one may understand fully the financial trans actions of 1867, I here give the particulars of the sales of the new loan, the redemptions of the Old and the amounts of premiums and inter est received on the new : *I • CI O at a a G MI LE 1.; t 4 T Ssassasse,gs agil§lEiV4§ • !=g - 4!! .•••• JJ ; .•. . . " ligsmAl . 1 \ E t i, Of the amount of loans redeemed during this year the sum of $1,791,- 644.50 was redeemed by the com missioners of the sinking fund, and was not therefore paid for by any pbrtion of the proceeds of the sales of the new loan. This left only $19,- 121,185.89 of the old loan redeemed, during the year, with the proceeds of the new, thus leaving $3,875,814.61 in the hands of the commission created by the act of February 2, to be subsequently applied to the re demption of the old loan, which we have a right to assume was honestly done. In the first annual message of Governor Geary made to the Legis lature in January, 1868, he com mences his financial statement by giving the public debt on the Ist of December, 1866, at $63,622,052.16. This statement will be found in ex ecutive document for 1867, pages four and five. In this memge, mark you, Governor Geary adopts the statement of his predecessor, as to the amount of the public debt outstandingat the end of the one, and the beginning of the other ad ministration. But Without one word of eXplanation, he immediately follows it with the following itemiz ed statement : Funded debt, vt..: Six per cent. loans ...$15,311.150 Dand b per ice percent.lfre. : 12.104,025 m IM Cent. lour., 175.000 00 - —537,51)0,..115 20 aided debt, viz: Itel notes . $ 96,625 00 ,- later certdicatee out- ..... V.1.1.18ti 52 Interest eTrtlficutea un- clif mod 4,4414 Domegtle credit, certlf. 41 141 Total amount ontstanding In the next annual mesa of the governor we have the financial state ment ending with this declaration: "By the report of the commissioners of the sinking fund for the year end ing September 3, 1867, the loans re deemed amounted to $1,794.109.50; and by their report from September 3, 1807, to 'November 30, 186-;, the loans redeemed amounted to $*2,414,- 816.64, making a total reduction of the State debt in two years and three months of $1.209,386.14." The finan cial statement ending with this quo tation will be found on pages tour and five, executive documents, 1868. In order to prevent any confusion es we proceed I will state that a dis crepancy exists in the above state went of loans redeemed in 1867 of $75, as compared with the statement of the Auditor General for the same period This consisted of a domestic creditor's certificate redeemed (in fa vor of T. Fisher) for $75 which was no doubt accidentally omitted by Gov. Geary. By including this item the real amount redeemed during 1867 by the commissioners of the sinking fund, would appear to be 81.- 794,644. W, instead of $1,794-,569L0. The true amount Is shcwn by the auditor general's report for 1867 In executive documents, 1867, page 206. The financial statement—in the 'fourth annual message of Governor Geary, anicludes as follows: "On the 15th day of January, 1867, the total indebtedness of the State 'was $37,70-t,409.77. Since then and LID to November 30, 1870, the sum of $48,592,7-17.87 luis been paid. The re duction during the year ending No vember 80,1870; $1,102,879.04." Thisi statement will be found on page 6, executive documents 1870. In the last annual message of Gov ernor Cleary to the present Legisla ture a summary of the financial pol icy of his administration is thus giv en: "During the last six years pay ments on the debt have been made mg foil -Amount paid In 11367...., 41 , ajb4.614 bo Amount paid in IF& ''' ... sr Amount paid in Itin9 ..... -17.1,41.*ix Amount paid in 1570 1,70'2.879 05 Amount paid in la7l - 2.131,590 17 Amount paid in Ls7l. ....... 00 Total payments.... .......... . $10,571,66.1 54 Being a little over twenty-nine per cent. on the debt due December 1, 1866, which was then $37,704,469.77." Thus, in three annual messages to the legislature did Governor Geary announce to the people of this Com monwealth that the public debt at the beginning of his administration was $37,704,409.77, when in truth and in fact as shown by the public rec ords of the time, it was only $.35;622,- 052 16. The author of these mes sages is no longer.on earth, and we should not charge the falsehood c.3n tained in them to his account. but presume he was not himself nispon sible for them, that these figures were furnished to him by officers in the treasury department or in the Auditor General's office, anti that he was imposed upon, and led to believe the statement to be true; at least this is the most charitable view we can take of it. We now come to the third annual message of Governor Geary, in which the financial statement concludes with this remarkable statement. "At the commencement of the present administration in January, 1867, the total outstanding indebtedness of the State was thirty-seven million, seven hundred and four thousand four hun dred and nine dollars and seventy seven cents. Since then and up to November 30, 1869, the sum of four eight hundred and ninety nine thousand, eight hundred and sixty-eight dollars and eighty-two cents have been paid; and at five per cent. the sum of two hundred and forty-four thousand, four hundred end ninety-three dollars and forty fOur cents in interest is annually saved to the Commonwealth. Con sequently the total amount of the indebtedness of the Commonwealth on November 30,1869; was thirty-two millions, eight hundred and fourteen thousand, five hundred and forty dollars and ninety-five cents. The reduction during the year ending November 30,1869, amounts to four hundred and seventy-two thousand four hundred and six dollars and eighteen cents." This statement will be found on page 6 executive docu ments. 1869. In his last message the Governor states the total payments during the last six years were $10,992,662.44, which, if true, would have reduced the public debt from $36,622,052.16, which it was on the Ist of Decem ber, 1866, to $24,6,389.62, on the Ist day of December, 1872, instead of leaving it on that day $27,303,494.64, as the Governor states it was. Here we fled a discrepancy unaccounted for of $2,674,105.02; that is, during these six years the officers in charge of the treasury ofthe State, who have all been of the dominant party, have asked for and received credit with paying $2,674,105.02 of the public debt more than the debt has been reduced during that time. In other words, from December 1, 1866 to De cember 1, 1872, the public debt was reduced from $35,62'2,052.16 to $27, - 303,494.64, a total reduction of $B,- 318,557.52, while during that same time the different State Treasurers have been credited with paying $lO,- 992,662.54. To cover up this defalca tion, a fe lon,tte lit g oe ui t l i t o y e o pa f rt t l h es e reeo had rd. to resort this was deliberately done by stating the public debt on the first of Decem ber, 1866, to have been more than two million dollars greater than it actually was. Now I challenge the gentlemen on the other side to explain or excuse this falsification of the rec ords grour State. The facts I have already given would be sufficient to account for the wonderful unanimity with which the people demanded a change in the manner of electing the head of the treasury department. Since the beginning of the session I have 4aken the opportunity to study political arithmetic as exem- Ea . 8 • s Si 4•• S 4 • 8 8 8 § 3 ; tz Ar !I cr 1, .1 Established 1818. plified in the annual reports of the Auditor General and State Treasur er, and I find other facts and figures as curious as those already given. I desire to call the attention of fife House, and through it the attention of the people of the State, to these figures. I find the amount paid as Interest upon the public debt the last six years exceeds theamount of interest accruing upon the entire debt for that time several hundred thousand dollars. This might fairly occur in any one particular year, as the cuopons falling due thepreceding year may not all have been present ed for payment during that year; but this excess appearing iu one year would be balanced by the deficiency in other years. I submit that dur ing a period as long as six years the average would be reached, and no more interest actually paid than would accrue upon the entire inter est bearing debt during that period. I have made a careful calculation of the interest upon the public debt during each of the last six years. This calculation, I admit, is not strictly accurate, but is unduly fa vorable to the treasury department, because I have allowed the interest on the entire amount, outetanding,at the beginning of the, year for .a full year, although large athounts were redeemed during the year, while upon that portion of the debt re deemed during the first half of each year, only six months' interest could possibly have been paid. With this exception, I believe my calculation is strictly accurate, and I submit it to the inspection of the gentlemen on the other side of the House: MOMS INTERE:IT ON PUI3LIC DEBT $3,`231.3ai OOr. per cent $ 1.-X1:272 If V12,(175,E1.1 5115 r t 61. , :;,n"...1 $213:2110 (XI 4 and a hair per cent... ..... 11,504 110 $37.11.11,409 77 • '25.'111,1 , 0 if) I: perCelit $12.104,025 T..) 5 percent 605,201 *Di $175.1u0 Ott I au, a half per erne.7.875 00 2,131,747 06 $2.1,::11.1S0 00 t; per cent *1,516,670 SU 7,749,771 56 5 per cent 367,443 57 Ql pl,nup 00 and 3 half per cent 1 , 710 $25.311.1:+0 i; percet,t f1.51:".1.71) #1.1177.354.:kk 5 pvr r , tit Stet, ctrl 1112,000 004 atm] a half per rent "t.t) JO Ou - --$ ,1,557,51 - 10 01 1,71, t 2,5,004,7541 00 n per , t 8 I !",a1.83r• ~ .11 Etal,tr..l.l 13 5 per t t Itt 2-11,1il1i 0/ $112.000 oo I and .t litt!t percent.... . 5.089 tru 1,759„..J71 s 1571.. $2:045.630 Ou li per ceril 1,1tte,";17 15,408.505 16 5 per cent 270,425 75 $112.000 00 4 and a L.Aif per cent During each of the foregoing year there was an interest bearing unfund ed debt as follows, viz. : er.,058 SU Interest certilkates outsiondina. • 4.448 3ti intere4t certificate+ uoclainied 44 67 domestic ..reditors certitleater. $17..77) 57 at G per rent As these certificates have no cou pons attached the interest would on ly he paid when the principal was, and as no part of the principal has been redeßtiled, it is but fair to as sume that no interest has been paid on account of this portion ofthe debt. The discrepancies between the inter est accruing and the amounts remitt ed as paid will appear by the follow ing recapitulation: Year. Irittrod on whole Inter-. 41 reported as debt outstanding /taring Dern paid at (lie beginnihg during tAe year. of the year. leti7 ........$1,6)6j0; 42 E 4,237 „a 3 1S i 4 2.131.747 Oil 4.g79,690 1.1111,199 :7 1,a6,25 a . .. Is7o. ... .. 1,587.550 01 LANAI! 77 1871.... ... 1.799,973 SI 1.7535,030 61 1872 1,06,1013 55 1,7115,913 3S Total 4/431342% Excess of interest paid over amount accrued during the time, $275,591 83. It - will-be noticed that the excess in the year 1867 was $450,506 96. This may be explained by saying, that when the new loan was negotiated during that year, coupolis partially matured were attached to the bonds and sold with them. This is proba bly true, as we find the treasurer charges himself during that year with items of "interest received on loans," which aggregate $267,255.29; still this leaves $183,251.66 unex plained. During the year 1872 the the exce::s was $29,791 83. If, as submit would he fair, we assume that the loans redeemed each year, were on an average redeemed in the middle of the year, the above calcu lation of the interest accruing should be reduced to theextent of one half a year's interest upon the amount of loans redeemed; as these were most ly.tive per cent. loans it would be two and a half percent. upon $10,992.662.- 5l; this would make $'271,816.56, which added to the excess before shown would make a total excess of interest paid during the six years over the wholeamountaccruing, dur ing that time of $5.50,105,39. • I desire to impress upon the minds ofgentlemen the fact that this is not a question of the misapplication of the money belonging to the sinking fund, which should have been used for nj other purpose than paying the public debt. My allegation is, that during the last six years the treasury department has been credited with paying more both of the principal and interest of the public debt than have been actually paid. During this time, no new debt has been created or authorized, excepting the twenty three million loan, heretofore refer red to, the proceeds of which were applicable solely to the payment of the over due loans of the State, cer tificates issued to the citizens of Chambersburg, amounting to $297,- 377.65, and the bond representing the endowment fuhil of the agricultural college for $.500,000.00. In the first two messages of Gover nor Geary, the people were furnished with separate statements of the ad ministration of the sinking fund. During the next two years no such statements were contained in his message or in the reports of the Aud itor General and State Treasurer. By the fifth section of the act of April 13, 1870, the State Treasurer was compelled to publish such separate statement, and we have them given in the last two reports of that officer. I found it therefore impracticable to give a connected exhibit of the ad ministration of this fund during the last six years. In order to obtain the desired information, on the 22d of January I had the honor of offering a resolution requesting the State Treasurer to furnish the house with a statement showing the receipts and disbursements on account of the sinking fund from its organization to November 30, 1872. The istatemFnt furnished in response to this resolu tion will be found in the Legtslative Journal,-page 43 : q. _ By comparing this statement with the annual re ports of the ,Auditor General and State Treasurer, showing the pay ments on the interest and principal of the public debt, we find the entire sum which Governor Geary claims to have been paid upon the public debt during his administration, was paid by the Commissioners of the sinking fund, excepting three Items. In 1869,'70 and '7l, small sums wpm paid directly by the treasurer, but were afterwards carried to and inclu ded in the sinking fund account. The agencies, through which the public loans have been.,redeemed, will ap pear from the following statement : 'linking Fund &ate Year. Commie'ns. Treasurer. ROI. 27 1867.. 31,794,614 50 $l9 1 . 51.18.•: 39 $20,919,622 86 2,414,819 64 2.002,647 00 4,417,46341 1869.. 962,762 09 •109,844 09 472,406 18 1870.. 1,602,321 91 •100:551 74 1,702,879 85 1171.. 2.113,228 63 •1.9.361 94 2,131,590 IT 1872.. 2,476,3 X 00 2,476,226 00 *Thole Items are canted Into the sinking rand account. ' • . If we take the annual statement of "loans redeemed," "interest paid on f 1.414,5t6 5.1.14() (A) --- :,,,, 1,'.1 I. l' 0.1 5.n41 ($ 1: 1 ;71.1,3v3 55 $11.213,2 9 '' $ 1 054 77 $11,1x3. 2j (.15 THE BEAVEIk ARGUN Is published every IVednosday in the old Argus building on Third Str , i.et, 803.. vor, Pa., at .2 por year in advance. Communications on subjects of local or general interest are respedfully so licited. To insure' attention fafore of this kind must invariably ho accompa nied by the name of the author. L. ttars and comintl n lc:Alone sho he WrIAND t TIMMER, Beaver, Pa. luaus" and other payments'!, on ac count of the sinking fund, and com pare them with the report made by Treasurer Mackey, published on page 438 of the Legislative Journal we will find other discrepancies, viz: Ei •11 ze 4 4 I,r= 7 q 4 12. IZ3 ' 8 . 9 t; , " IF. 9 ,= i= 73 7, I Z r,: t 2 iti.... E '1 :4 FIIMai 11•11 2 ". 1 : 7 = E? "::' r: g Total payments 1tt.712.= E•l4 Dtscrrixtucy ... . 2117.110 12 These "other prments," amount ing to $2.11,454 consist of the sala ries of the sinking fund commi.-Aion ers, salary of clerks, compensation to banks in Philadelphia, acting as the fiscal agents of the Commonwealth in paying interest and redeeming the loans and premium paid upon gold with which to pay the interest What then should have been the condition of the public debt on the first day of December, 187')" the end of the last fiscal year, had all' the payments been honestly made as claimed and credited ? I have pre pared two calculations, the first ex cluding the twenty-three million loan with the premiums and interest re ceived upon it, and the second inclu ding it. Pub lc debt 1/re. 1. h' $35,6:t1.0a.: r.-devnl.:(l du: ii the 6 )t - dre , 10.59%60 51 Add to Chstubersbur„•tcettincate Agricultural Coltege bond . . Debt Dec. 1, 1872, If the 14aymeoLa have been mad. as alleged . 1.5.41.t1,767 Pnblie debt Dec. 1, ISS72, as reported. 21',3111,454 1:4 Discrepancy . . . . 1,676,117 37 This statement omits several items which must be included in a proper and honest audit of the accounts. The correct statement would be— PO,lle debt Dec 1. 1 , 64 tz1.5.6112.CC12 Ui Add amount of new loan . •11,011:1,U0 1:11 ( hambersburg cer(lileate A4ricajural college bond Total aUthurip..d 1t bt ...... PElt CONTRA Lnans redeemed trout ski Sang frindf Vld •thnw redeemed with new ... 23: 1 0 1 J.000 Interest received on new loan ... 2E7.255 1;9 i'rerunim Icce/Ned du new wan.. . sn./Xr2 Discrepancy In S. F. ArGpnrit .11.77.770 12 Total paymeDtS . $.31-55.3,690 Ts Debt Dec. 1,187 e. if ;be payments had been made . . . . Actual debt 27.803,431 64 Actual d,,falcation If to this we add the discrepancy in the interest account as heretofore shown of t 550,408 39, it will make $2,988,16-1 00 as the total discrepancy, defalcation, or to use a plain old En glish wont, stealing, which has oc curred in the last six years, or near ly half a million a year. I desire that the members. of this House and the people, will not con found this statement with the mis application of the Shaking Fund, to which I will now call their atten tion. Without taking up your time by commenting upon the amend ments to the constitution in 1857 or roy attempting to show the wisdom fin.serting an the fundamental 12,.."' d of the State, a. provision creathry ? special fund which must be sacrell, guarded and sacredly applied to the. payment of the public debt, I will oill your attention to the fact that the financial officers of the Com monwealth have utterly disregarded the plain provisions of the constitii, tion, and the imperative require ments of the law in this respect. By turning to the last official re port of the State Treasurer, we find on page 27 that the balance in the sinking fund November 30, 1871, was $3,478,935 40; and on page 38 that the balance in the fund Novem ber 30, 1872,was $3,496,614113. Why should this arge amount of money remain in the sinking fund instead of being applied as tne constitution and laws require to the payment of the public debt? Why should the people of the State be swindled out of the interest on this large amount? For if this money had been applied as it should have been, the interest hearing debt of the State would have been reduced that touch more, and the taxpayers of the State relieved from the annual payment of $205,- 73i;.30. What explanation can the commissioners of the sinking fund, or the State Treasurer give why this money has not been applied as re quired by tne constitution? They may say that it is unwise and im politic to pay the public debt more rapidly than they have been doing. They are not, however, the proper judges of the wisdom or propriety of the rapid payment of the public debt. The people settled that question of pot it'y when they ratified the amend ments to the constitution of 1857. Why, then, is this money not applied as the constitution requires? It is used by the •"Treasury Ring"—for we hear there is such an institution, among numerous other "rings" here—ls the interest on this large amount of mon 7 ey used to enable this Ring to per - - petuate its rule and power at the State capitol? if it is, it is time the people of the State should under stand it. Bad as this would be, of ficial delinquency, great as it would be, the truth is still worse. No such an amount of money is actually in the sinking fund, although shown to be by the sinking fund accounts. If you will turn to page eight of the last Treasurer's report you will find the whole balance in the Treasury, Nov. 30;1871, including the sinking fund and all other funds of the Com monwealth, was only $1,476,- 808.59, and on page 10 that the balance in the treasury Nov. 30, 1872, was only 1,482,455.61. The difference between these amounts, and the amounts reported as be ing in the sinking fund, has been applied to the payment of the current expenses of the government in palpabledisregard of the constitu tion, in open contempt of the re quirements of the law, and in plain violation ofofficialoaths of the finan cial agents of the State. In addition to this, there is the undeniable fact that for the last several years there has been an average balance of one and a half millions of dollars lying idly in the treasury. earning noth ing, drawing no Interest for the ben efit of the taxpayers. The interest on this sum, at six per cent., would be $90,000 a year. The facts and figures which I have given, have been obtained by a care ful study and comparison of the pub lished summaries of the financial op erations of the State from year to year. These summaries have been prepared by skillful accountants, In y terested to cover up all discrepancies and evidences' of defalcation. Could we penetrate the secrets of the treas ury department, and subject the itemized vouchers to thoroughly competent and honest actxaintants, I have so doubt developments would be made which would sink my ex hibits into comparative insignifi cance. No wonder the people them = • yes desirelo elect the State Treas. (.*e Fourth Page.) MI MEI MMIO -1 ' ' ; ; . i t Eti •297:37T r.ro :AX),001.1 297 377 G., moo M,419,129 H $ 4,417,136 til
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