The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1849-05-05

1
been brought to light. The facts W.
have named come 10 us we'll authen,i
ca,ei, and Mr.. Kelley does not pretenc
to deny--nay, he has admitted them.
A report from the Fund Commission
ers, dated March 4, 1914, the Boarc
then consisting of DIR. Hubbard as act
my Commissioners and the Auditor and
Treasurer Of State (Messrs. Brougt
WhilehilI, as advisory members, name;
a still larger amount Of State stock sac
riiced by the whig Board. This repor,
embraces the doings of the Board icon.
sistlng of Messrs. Swayne, Lake, and
Swan. until after the latter resigned
and Mr.. Kelley took his placeJ from
The 90ih Of April, l84I. until the goth
OF March, lS43. embracing a period oI
one year and eleven months. during
which time Ohio six per cent. stocks. tn
the amount of $9.l07,98I 20, were sold
for $l.445,820 80 showing loss to the
State thereon, of over SIX HUNDRED
AND SiXTY-TWO THOUSAND.
ONE ONE HUNDRED AND TEN
DOLLARS ANDTWENTY.E EIGHT
CENTS. The Offence in the two ia.
bles consists in the fact that the latter
brings to light new sales by the whig
Board, not noticed by the former, and
although the latter table is an official
document, and is concurred in by Mr..
Whi,ehilI, "a leading whig.) yet we have
taken The former table in preference,
because it is signed and vouched for as
trne, by ALFRED KELLEY, and the other
whig members of The Board of Fund
Commissioners--the very persons i'm.
p!icated. .. .s
Such was the situation of Ohio f.
nances, and such the sinking state Of
Ohio credit, when, in the spring of
lS4s, the whig Board of Canal Fund
Commissioners we're superseded, and a
Board consisting Of minority Of Dem
ocrats ,ook their place. The new
Board entered upon their duties under
peculiar embarrassments. The credit
of the State was at its lowest ebb-its
evidence of Indebtedness had been
hawked about, and sold in New York
and in London at ruiuous sacrifice. -
The Legislature that elected the new
Board. had ordered an additional loan
of $l.50o,0oo to be made, for the relief
of the suffering contractors on our Pub.
lie Works. The new Commissioners
proceeded 10 New York, and there
published pamphlet showing the vast
resources Of the State, and inviting pro.
p"sals for the loan, and strange rs It
NAV appear, on the 18th day Of May.
l843. in less than two months time.
$500 900 Of the new stock thus issued
was sold al par, those purchasing max
ing as n condition that il they wished
they were to have the remainder of the
loan at the same price. On the l4th
Of September following. they took the
OF the loan and thus was the
whole of ii disposed of at par-dollar
for dollar. +f a-..H - ..-. -.1
1t is such facts-such as We have
s,ated--facts drawn from the docu-
nentary history Of the State. befnre the
eyes of the editor of the Clinton Repub.
ican, without single argument or
single fact upon which to found the
charge, he makes the wholesale and
zratuitous charge that had the demo.
cratic party "con,inued to have control
Of the finances of the State, "to the pre-
GENT time, there is no sane man doubts
but that they would have repudiated
before this time" A charge more base
pr more false never before came from
The brain OF a whig editor, who TO save
lis party leaders from exposure for
their misdseds endeavors to save them
BY falsehoods the most base and Sian.
1ers the most de,estible. 1a ai|
The Springfield "RepubIic." hut a
shade behind its compeer Of tho Repub.
ican, asks the question:. d,aa 4
"Who, having accumulated an i'm.
mense debt. continued to increase il b,
borro wing money to pay the interestr
And answers it, parrot like, by reply.
ing, "the loccfoco partyof Ohio" We
nave shown, in No. 2, OF, this series.
who contracted the debt, and we now
state that much OF the squandering oi
lhe public money by Kelley and his as
sociates, was to pay debts due 10 Banks
for temporary loans procured 10 pay
interest, &c. Thus the "RepubIic"
will see, that the charge Of incurridg
The debt 10 pay interest, like that made
in the same article, of creating the bulk
Of the debt, is laid at the door Of whig.
gerry, and is there fastened BY facts that
even the reckless editors Of the federal
party dare not deny, for they form a.