Arkansas intelligencer., 1844-10-05

as TO the manner in which the bank and the State
were injured. 1t is an empty charge, unsus,ained
by proof, but contradicied by the report ITSELF
Those who have followed me thus far, in nv
NUMBERS have seen the objects which prompted
the investigation, as we'll as the manner in which
1t was conducted. They have also seen that the
facts had been reported to the Legislature in 1888
when the gentleman at whose nsran ce the enuui.
ry was instituted was member of the Legisa.
ture, and of the Bank committee; that the subjec,
rested In silence and witho ut complaint until 1912
when the election for Senator was to take place;
that an Investigation was asked by political op-
ponent of Col. Sewer and that the election was
deferred un til report could be made. 1t has fur.
saer oee' SC en-, that after having had the subjec,
On hand for eleven days. Mr.. Walker Of the Sen.
ate, and Mr.. Field of the House. ported verbal.
ly to their respective Houses "thnt nothing had
been ellcited, which could or should effect the
Senatorial election And after all these facts.
when Sewer and Williamson had left Little Roc k.
the enquiry is prosecuted, and this extraordinary
report is made
will now recapitulate the numerous charges
--''00-NNN''S''N'
met and as conceive, fully exposed and rerutetl
l. have shewn that the commissioners did
not violate their instructions, as charged against
them; that they acted under gener raj power; that
their acts were recognized by tho Bank, and
silently acquiesced in by the Legislature.
=. | have shewn that the commissioners did
not violate their instruction by drawing out of
the North Anne rican Trust and Banking Compa-
ny, upon their indiriduai checks the specie credit
obtained therein because they wero uninstruc,-
ed upon that subject and, further, that the specie
credit was drawn out upon the check of Corco-
ran.
3. 1t is inferentiaIIy charged agans, the COM
missloncrs that they had . secret interest at
stake which was the profits acquired BY the eA-
change Of the specie into southern and western
funds; and, Of course, that their accounts render
ed were false, and they guilty of fraud and en-
bezziement. | have shewn this charge to be who'll
Iy untrue, unionnded. and contradicod by the
facts and circumstances contained in the revor, ::
and that 1t IS libel upon the parties implicated.
4. 10 make out this fourth charge, it is sad, in
the report that the services of Corcoran were
subsequently engaged in converting a potion of the
funds, &C., when 1t appears from the accoun, rem
dered by him that this vas part Of the Original
transaction, and not a subsequent engagement,
and that the southern au,i western paper purchased
by him, was turned over 10 the commissioners as Il
part Of the proceeds derived BY him from the sale
of the Ionds.
.. From the peculiar anl guarded languago OF
the report the impression is sought to be created
without so stating the fact that Lee was engaged
by both Sewer and Williamson, 20 perform the
services rendered by him when his account she ews
the engagement to have been by " illiamson alone
"hy did not the report state ii? Because i,
would not have answered tho purpose intended
t. 1t is said in the report that the southern and
western funds were purchased at an average rate
OF little over three per cent. premium. The
accounts shew that they were purchased at a dis
count ranging from one and a fourthto ten per cent
why not so state the fact especially when it is
Immediately said that sit was proven before the
committee that sothern and western paper. Mt tn,
tlnho the exchange was made, ranged from tro Il
fuelre and haf per cent. In each case no ground.
would have been left, upon which to predicate s.the
most rational conclusion thlt funds had beer
bought which were at a discount of from tuo I,
t~e've and a half per cem.-which were reportc,
as purchased at a discount of only three per cent
and thus made the conclusion to be drawn that the
excess had been pocketod. Further, not word
OF evidence accompanies the report nor is it stated
by whom it was proven, that southern and west
ern funds ranged from two to twelve and a hal
per cent.
7. II is further charged, as "glaring breach
of trust and good faith," that Sevier retained
$l4 300 of the funds obtained from the sale n,
the bonds. | have 8 hewn clearly that ho did di
rectly what he had right to do ndrectly-tha
he could have obtained bill of exchange. or drawn
he specie from the Bank. for her paper, and also
that he settled satisfactorily with the Bank.
g. 1t is, also, charged that Sewer never perfected
his stock. have shewn that he transferred hi.
stock, which was perfected by the purchaser; aud
that he secured his Indebtedness to tho Bank. by
mortgage or land and nagross-facts which
should have been reported by the committee.
.. 1t is stated in the report that the commissioners
loaned morey to several ctizens of Little Rock
while in New York yet the fact is concealed tha,