Butler Citizen

HALF A MILLION STOLEN.

Marshall T. Polk, State Treasurer of Tennessee, has been absent from his post for three days. A committee of the Legislature on investigating the affairs of his office, reported to the House that they believed that there was a defalcation of $300,000 in his accounts. The House thereupon ordered that the business of the Treasury Department should be suspended, and that the payment on all checks signed by the Treasurer should be stopped. The committee continued its investigation, and at a late hour Friday night several discrepancies had been discovered. One of the committee stated that the defalcation would exceed $500,000. Treasurer Polk's bonds are for $100,000, and it is said that his bondsmen are not secured. It is believed that the Treasurer is in Texas. Some of the largest holders of the bonds in New York were greatly surprised. It was suggested that Mr. Polk in using the money might have acted for a ring, including possibly some of the other State officers. It is generally believed he used the money in Wall Street speculations.

Polk's high social position and his heretofore unblemished reputation caused the announcement of his disgrace to send a thrill of excitement through the whole city. The venerable widow of James K. Polk, feels keenly the blow, especially since the Legislature, while scaling other bonds, has decided to pay hers in full. The affairs of Polk's office have been loosely administered, he having served two years without renewing his bond, which had expired. Suspicion points strongly to other prominent men being implicated, and it is believed that $1,000,000 will not cover the deficit. In a private drawer of Polk's desk were found notes signed by two leading politicians, one for $50,000 and the other for $85,000.

Treasurer Polk is fifty-one years old, a graduate of West Point, and served four years on the frontier. He was captain of artillery in the Confederate army, in Cheatham's division. He lost a leg at the battle of Shiloh. He afterwards served on the staff of General Leonidas Polk, to whom he was related. After the war he resided on a farm near Bolivar, Tennessee, until elected Treasurer six years ago. He was a nephew of the late President Polk. He has a large family, and occupied a high social position in this city and in the State.

A year ago, in view of the extraordinary large amount of money on hand, an effort was made to increase the Treasurer's bond. The bill passed the House, but while pending in the Senate the clerk's desk was broken open and this bill was stolen and was never found. As the Legislature was then on the eve of adjournment for the session this killed the bill. Who stole the bill has never been ascertained. It was then suspected that affairs were not straight, but the friends of Treasurer Polk succeeded in having killed a legislative resolution providing for an investigation into the affairs of his office.