The republic. [volume] (Washington [D.C.]) 1849-1853, 1849-08-02
MIR. DENBY,s CASE.

We have published the account given
OF Mr.. DENBY's defalcation, by the organ
OF the elite of the distinguished Democrats
of Richmond, and their ambassador to the
Shockoe Association. We did severe
justice to the late Administration and to
Mr.. DENNY by publishing the defence that
| their friends have made for them We
give below the comments of the Richmond
Wing on the article in the Republic upon
this subject:
"We apprehend this will turn out to be very
| bad business We learn, however, that Mr.. DENLY
repudiates the magnificent figure ascribed to him by
| the Republic--not that the default, and to that
amount, does not exist but that all or the greater
portion was committed by others
"As we hear, Mr. DENLY was appointed navy
agent and required to give security to the amount
| OF $500, 900. He unable of himself to give the
bond. Mr.. c. F. Osborne, Of this city, undertook
to give the security, becoming HIMSELF on con-
diuon that he was to be Mr. Denby's agent in this
country-to draw all the money himself, and to
have the of il until called for by the wants of
the public service. But, whether there was such
an express condition or not, Mr.. Osborne did act
| as Mr.. Denbys agent-he drew the money, and
/
ment, he admits thst he did use about Sl3l 900 of
the public moneyswhich he is not now able to
| repay. The Rep1blic gives the entire deficit at
$l55, SOB 46-about S24 900 more than Mr.. Os-
borne comedies on his own account That excess,
we suppose, MIR. DENLY is accountable for.
| "Suit has been instituted by the Government on
the bond, and it is said thar only'one of the parties
to it is responsible, and that he denies his sigma
| ture.
"This is deplorable exhibit. II is obvious
that the use Of the public money for private pur-
poses entered into the original scheme that the
plan was deliberately laid to speculate upon the
public funds. No doubt the parties concerned in il
INDUCED the hope of making money by the opera
! hon;-no doubt they expected and desired to repay
the Government every cent;-but that does not
| make the act less violation of law--less repre-
hensibe.
How far the Secretary oS the Navy, Judge
| Mason, is censurable cannot say. II is certain
that Mr.. Osborne could not have drawn the money
| without his knowledge and consent We hear, in
justification of him, that the bond required that Mr.
DENLY should have an agent in this country to re-
| ceIve and transmit the money to him. Ii this be
so, and If the requstion of the bond was in accord
ance with the law, he would stand acquitted of all
| blame, unless he was aware that the arrangement
between DENLY and Osborne contemplated spec
uation IN the public funds"
Things went on very well under the
Sub-treasury law, as long as the Locofocos
kept the strong boxes and the books, and
could make way with the public money
without being called to account for it.
| People had become measurably Indifferent
to it, and many WHIGs were inclined to
believe that the devil is not half as black
as he is painted. We should not be sur
prised if the Sub-treasury should be ulti-
| mately found to turn out as badly, in
all its features, as General JACKSON, Mr..
WOODBURY., and Mr.. Polk, thought it
would, to say nothing of the Globe and the
Richmond Enquirer. The truth is that it
is not important what system exists, if
you have honest men to administer it.
The Locofocos have plundered the Trea-
sury under every system that has been
devised. The onl y way to keep their
leaders from appropriating the public mo-
ney to their own use, is to keep them
where they cannot get their hands into the
strong box. Give them a chance, and
they will rob the Exchequer to certainty.
1t is worth while to see how clearly the
great lights of Democracy Illuminated this
subject many years ago.
General JACKSON, for instance, said that
cit is considered against the genius of our
free institutions to lock up in the vaults
the treasure Of the nation; such treasure
would doubtless be employed at some
time, as il has been in other countries
when opportunity tempted ambition"
And Mr.. WOODBURY. said that "Individual
agents would probably be found less re-
sponsible, safe, convenient, and economi-
cal than the banks"
Our venerable contemporary, whose in
stability was so Justly censured by the
late Mr. WRIGHT, was equally emphatic
with General JACKSON; thus discoursing
in the columns Of the Enquirer:
1--WE have objected 70 the sub-treasury scheme,
" leo caled,) that in the first place IL will enlarge
the Executive power already too great for repub-
clio; 2dly, that contributes to endanger the secur-
"ty fthe public funds and thirdly that IL il oalcu-
" atedtoproduce twocurrencies-a baser one for the
people, and better ono for the Government. The
"more we reflect upon the matter, the more we read
" the speeches Of The orators on both sides the more
firmly we arc satisfied Of the strength Of these OBJ
ELECTIONS" "I is certainly subject 10 very strong
" objections, nos the least Of which IL the very
" great increase Of patronage 10 which IL must give
" rise, and patronage Of the most dangerous in.
" hucnce, az being Immediately connected with
"the public money" "But can no sdvan-
" tage, and, on the contrary, fruitful source Of
" mischief, in making government officers the
keepers Of the cash. Place about them what
g guards you may, in the shape Of commissioners,
inspectors, or whatever else, pectdation tciu BE-
" endless There Is security IT, and it will in
evolve heavy and unnecessary expense. The chief
" and oveuuling objection, however, is the endless
"source Of patronage 10 which IL would give rise
" Make the machinery simple you may, and
"oPen to view, wherever money is, temptation will
"creep in, and corruption IN evryJorm follo,o, at
"bs heels"
We shall make one more citation, which