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Cowperwood, anyway? Why was he not arrested? How did he come to be identified so closely
with the financial administration of the city? And though the day of what later was termed
"yellow journalism" had not arrived, and the local papers were not given to such vital personal
comment as followed later, it was not possible, even bound as they were, hand and foot, by the
local political and social magnates, to avoid comment of some sort. Editorials had to be written.
Some solemn, conservative references to the shame and disgrace which one single individual
could bring to a great city and a noble political party had to be ventured upon.
That desperate scheme to cast the blame on Cowperwood temporarily, which had been
concocted by Mollenhauer, Butler, and Simpson, to get the odium of the crime outside the party
lines for the time being, was now lugged forth and put in operation. It was interesting and
strange to note how quickly the newspapers, and even the Citizens' Municipal Reform
Association, adopted the argument that Cowperwood was largely, if not solely, to blame. Stener
had loaned him the money, it is true--had put bond issues in his hands for sale, it is true, but
somehow every one seemed to gain the impression that Cowperwood had desperately misused
the treasurer. The fact that he had taken a sixty-thousand-dollar check for certificates which
were not in the sinking-fund was hinted at, though until they could actually confirm this for
themselves both the newspapers and the committee were too fearful of the State libel laws to
say so.
In due time there were brought forth several noble municipal letters, purporting to be a stern call
on the part of the mayor, Mr. Jacob Borchardt, on Mr. George W. Stener for an immediate
explanation of his conduct, and the latter's reply, which were at once given to the newspapers
and the Citizens' Municipal Reform Association. These letters were enough to show, so the
politicians figured, that the Republican party was anxious to purge itself of any miscreant within
its ranks, and they also helped to pass the time until after election.
OFFICE OF THE MAYOR OF THE CITY OF PHILADELPHIA
GEORGE W. STENER, ESQ., October 18, 1871. City Treasurer.
DEAR SIR,--Information has been given me that certificates of city loan to a large amount,
issued by you for sale on account of the city, and, I presume, after the usual requisition from the
mayor of the city, have passed out of your custody, and that the proceeds of the sale of said
certificates have not been paid into the city treasury.
I have also been informed that a large amount of the city's money has been permitted to pass
into the hands of some one or more brokers or bankers doing business on Third Street, and that
said brokers or bankers have since met with financial difficulties, whereby, and by reason of the
above generally, the interests of the city are likely to be very seriously affected.
I have therefore to request that you will promptly advise me of the truth or falsity of these
statements, so that such duties as devolve upon me as the chief magistrate of the city, in view
of such facts, if they exist, may be intelligently discharged. Yours respectfully,
JACOB BORCHARDT, Mayor of Philadelphia.
OFFICE OF THE TREASURER OF THE CITY OF PHILADELPHIA
HON. JACOB BORCHARDT. October 19, 1871. DEAR SIR,--I have to acknowledge the receipt
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