It would be awful if someone with a series of fraud convictions was elected, but there is nothing in the constitution that would allow the club to prohibit a person with such a record from running for, being nominated for, or being elected to the position of treasurer.

I am unaware of any suitability issue revolving the only public candidate. I am aware that at least one disenchanted member has a problem with him. My vote will negate his (if he in fact votes) yours will throw Doug over the top.

You did use suitability, and that is what the election is for. The person receiving the most votes is the person most suited for the position, it is commonly referred to as democracy. BY no means perfect, but as Americans seem to prefer to the alternatives.