Rensselaer Semi-Weekly Republican, Volume 20, Number 17, Rensselaer, Jasper County, 1 November 1898 — That Four Thousand Dollar Loan. [ARTICLE]

That Four Thousand Dollar Loan.

Nothing In It For the Democrat to Howl About. The Democrat has been trying for six weeks to get the republican organs here to explain that $4,000 loan, and why, if not for political purposes, the tax levy was reduced when this loan remained unpaid. Not a word do they have to say about it or the other matters of importance to taxpayers which we have asked them to explain.— Jasper County Democrat. We are sorry if the Democrat feels hurt that its senseless and slanderous clamor about our county affairs has hot received more attention. The fact is, however, that we have learned, in the experience of eight or nine campaigns, that such campaigns of slander as the Democrat is now conducting, has no effect further than to injure those who make it. We have learned, in fact, that in regard to such political slanderers as the editors of the Democrat, that in the words of the poet in a somewhat similar occasion; * * * Surely alter all The Attest answer unto such, Is kindly silence when they bawl. Still, as this $4,000 dollar loan has been the great stook source of the Democrat’s howl we will take occasion to explain and state the whole truth about the matter, and thus give the voters of this county an opportunity to properly estimate the Democrat’s yawp not only in this but in other matters. In the first place, some weeks ago, the Democrat gave two columns to this loan. Its opening statement was that no information had ever been given in any papers, about the loan, except what had been given by the Democrat. That statement was wholly false, as in the Republican of July 9th, 1896, in our report of the commissioners’ proceedings, the facts of the loan were given. The loan was made in June 1896, through the Commercial State Bank, and was done to prevent the orders of the county from going to protest. It was Cleveland hard times then and difficult to borrow money. The then active members of the Board tried to borrow the money of outside parties at a low ate of interest. They could not, and then applied to the local bank. The cashier told them he thought he could obtain the money of a private party at 7 per cent, interest, but was not certain. Hence the order for the loan as it appeared in the record was for 7 per cent. But the cashier could not obtain the money at 7 per cent, interest but offered it for 8 per cent, and the offer was accepted. It was made for 30 days as is the usual rule in such loans, in order that the person loaning the money can call for it when they want it, and also so that the borrowers can pay it when they wish. It was hoped that the loan could be paid after the annual settlement in 1897; but it was found that the amount of county revenue on hand would not justify the payment then, and it was allowed to run another • year. This year however, as soon as the auditor’s annual financial statement was made up, it was seen that there was plenty of mon| ey on hand to pay the loan, and Mr. Halleck at onoe ordered it paid, and it was paid on August 24th, 1898, some time before the Democrat began its howl about it. The Democrat has even presumed to question whether it had been paid at all, yet by calling at the treasurer’s office, the cancelled warrant, with the date of its payment stamped on it could have been seen at any time. The Democrat asks in the above quoted paragraph, why the county

levy was reduced while this loan remained unpaid. The answer is simply that the loan was paid on August 24th, while the county levy was not made until the September session, following. Everything about this loan has been straight, fair and above board, and no person has made a single cent out of it except the person who loaned the money, and to the truth of this, the cashier of the Commercial State Bank stands ready to make oath if called upon. There has beep nothing wrong and nothing corrupt, nothing secret nor nothing underhanded about it; and the same things can be truly said of all the other doings oj our county officials.