The Arkansas banner., 1844-12-25

only by suppressing some facts and garbling and magnifying others; by the grossest per- version and distortion, to Col. Sevier's preju- dice, of all the circumstances connected with the subject, that they arrived at the concln- sions, false in themselves, upon which they predicated all their vile islanders and inslnua- tions. against him.
 The first charges made in thls famous re- port, taking them in the orde' i'll which they come, were that Col. Seyier, after selling the bonds of the State, placed in his hands by the Real Estate Bank, converted the proceeds arising from the sale, into southern and wes- tern funds at various rates of discount and Vremival That the conversion resulted most dsastrousy to the interest of the Bank and the country, < creating ruin and devastation which have since spread like sweeplngpes- tlence over our once prosperous State "- And that 1t was made in !" direct and palpa- ble violation of the letter and spirit of the resolution of the Central Board, and the instructions of the Committee ,
 The veritable authors of that report, ai- ter stating that the conversion of the original fund was made at < various rates of discount and PREMIUM, D refer you to table or ac- count rendered by w. W. Corcoran, a bro- ker of Washington City, who was employed by Col. Sevier, to aid the commissioners ill the negotiation of the bonds and the pur- chase of the southern and western exchange, which table or account, SO far from showing that those funds were, or any portion ol them, purchased al premium, proves that they were purchased at discount of from Il to 10 per cen. The most of the 290,534 20 were purchased at from to s 3-4 per cent. discount; showing, beyond contradiction, that from inadyertency or wilfulness, as their own evidence proves it, that the committee made d mis-statement which not only sub iected the commissioners to the charge q ignorance and stupidity, but which must have excited suspicious, and just ones, too, of thelr integrity and fair-dealing. That the eoyersion brought ruin and disaster upon the Bank, will noY prove, and from their own testimony is as untrue as that any part oft was made at premium.
 want 1t to be understood before pro- eeed any farther, that Col Seyier must not be confounde1 or blended with Messrs. Lee and Williamson. The exchange and eonver- sion of 2S3,204 9 by Corcoran for Seyier and Williamson, as stated in the majority re port, is the only transaction of this clarac- ter, for the favorable issue of which, SeYier was at all accountable, and is the only one of which ] intend to examine. The nego- tiations and exchanges effected by Lee for Williamson, tot the amount of some lS6, ,777,- 73, and every thing appcrtaining thereto,- were transactions, as shown by the evidence of Hanger, given before the former eommit- tee, and as admitted in their report, which Sevler had no more connection, and for which of course he was no more responsi- bic than any gentleman who hears me. l will not insult your understanding, sir, and the sense of this House, by offering an ar gument uponit It is < selt-eyident.o }
 Then, sir, with the 283,204 9, Seviel, through his agent Corcoran, purchased 292,- 531 90, of which ll3, l58 p were certii- cates of deposite, Bank notes, and Bank cheeks on the Bank of Louisiana 5,003 50 on Tennessee :; 70,750 63 on Louisville and Cincinnati; 29,500 in the form of U. s. Treasury warrant; several thousand dollars Tn Arkansas money, and the balance on the best Banks of Mississippi making, as admit
 
 facts and evidence) by the majority report, a neat profit of 9,330 6S to the Bank.
 This money, in the kinds above stated, was paid to A. II. Davies, in Louisville, by 4. II. Sevler, as shown by Davles' receipt on the Sth Oct, 1888. To any one conversant with the monetary affairs of the country, and the credit and standing of the western aud southwestern Banks at this time, have gone far enough. Butit has been argued by the enemies of Col Sever, assuming false premises, that the low character of funds paid over to Davies by him, made the invest ment bad one, and disastrous and ruinous to the interest of the Bank.
 If the most respectable and intelligent cit lzens of the State are entitled to credit under oath, you will see to what miserable shifts the defenders of this majority report are driven and how utterly untenable the positions they are compelled 10 assume.
 Hear the evidence of Judge Roane in re, ply to the oth interrogaty, he says: All tho funds paid over for the use of the Bank were sold, as far as my knowledge extends, at premium. paid premium for part o those funds on Louisville Ky, and Cinein- nati.
 Mr Woodruff, in reply to the 1st inter- rogatorv, says '' All the Banks ol the south and west, resumed specie payments on ol before the lst January, 1889, though goot many of them, believe. resumed somC weeks earlier. When inc Rea Estate Bank commenced discounting, (abou 10th Dec, lS3Sl, all the notes she issuet were payable in specie on demand. She hal a pretty large amount in notes on banks i Cincinnati, Louisville, New Orleans, sc and those notes were sought by several. i not all our merchants, with avidi,v, in eN change for specie at par. was directo of that bank at the time, and believe tha every dollar of the notes on the banks abev, named, were passed oll' ai par, or at a pre- mium oi ] or , per cent.
 Ii, then, of the whole S292 600. 29.59e of which were government drali, only ahou 4s.0O0 ln Mississippi money, checks, ant bills, and ihe balance on Louisiana, Louis vile, Kentucky, and Tennessee, shown hl Nr eoanfs Mr WonIrmll's and ttr New