Butte record., 1854-04-29
State Financial Agents.

State Financial Agents.
The evidence from New York which we pub
hshed last week, showing the criminal neg
lect of Palmer, Cooke s Co., to toward the
deemed sufficient cause under ordinary Cir
cumstances, for their removal from the posi-
ton Of the States financial agents. The
State Treasurer deposited the money with
them to meet the payment some two months
before the coupons became due-but after for
warding notice that the coupons would be
paid at the American Exchange Bank, the
whole matter seems to have been lost sight of
by Palmer, Cooke s. Co. The statement of
their book keeper that they had forwarded
the necessary funds for their payment, is not
corroborated by the statement of the Ameri-
can Exchange Bank. lfPalmer, Cooke & Co ),
have the amount OF money they are supposed
TO have, they are simply guilty of criminal
negligence IN not providing for their payment
and should be no longer entrusted with the
credit of q people they have so negligently
and vitality injured. But we are not disposed
to believe that it was simple act of negli-
gence. If they have plenty OF means, as the
Peck investigation seemed to Indicate it wo'd
seem more reasonable to suppose that they
had otherwise invested it, as we'll as that de-
posted by the State Treasurer, and were una
BILE to meet the payment. If such was not the
case, why did not Palmer Cooke & Co. forward
the money to refund Duncan, Sherman Co,
who had generously come forward to save the
credit of the State? Some three months
have elapsed and Messrs. Duncan, Sherman &
Co. have not been refunded. The conclusion
then is irresistible, that the almost unlimited
means which they are said to possess, was for
the time, otherwise invested and beyond their
control. The State Treasurer should have
Immediately withdrawn his deposits from
Palmer, Cooke s. Co., and forwarded the mon
ey to refund Duncan, Sherman & Co. And
why he did not was because he was either in
fuenced by the er parte statements of Palmer
Cooke & Co., or because they did not have it
on hand, and it could not be reached without
proceeding against the bail of Palmer. Cooke
Co. But with the present State officers, and
the present legislature, such a proceeding
would be out of the question. Mr.. Broderick
who is said to be one of their sureties, and is
also understood to be largely interested in the
bank, is an aspirant for Senatorial honors
and has the present state officers and por
ton of the legislature completely under his
control To press matters then, or withdraw
the State deposits from Palmer, Cooke & Co.
would ruin the Senatorial prospects of Brod-
erick, as well as the future political prospects
of his legislative and State official tools. In
deed, it would be for the Broderick faction to
declare war against themselves. Not long
time since, prominent Broderickite in the
Senate started heproject of removing the de-
posIts to Sacramento, and after advocating the
policy of the measure, he was probably let
into a bit of a secret, that suddenly 'dried up
his arguments favoring the removal, and in
troduced famous fire and water argument
against their removal to Sacramento
The reasonable deduction from these premises
seems to be that the State deposits could not
be conviently reached at the time. Palmer,
Cooke s. Co. state that they have forwarded
the money to the American Exchange Bank,
and the latter bank say they have not re-
ceiyed it, Duncan, Sherman s. Co. are COM
PEELED to wait for the money they have ad-
vanced to save our credit. The State must
be guilty of injustice towards D. s. & Co., or
they must crowd the financial agents here,
and ruin the scheme of Senatorial election
at the present session. In accounting for the
injustice of the State towards Duncan, Sher-
man s. Co. in neglecting to refund the money
advanced by them, it must be borne in mind
that those whose duty it was to attend to it,
are the tools of Broderick, and that full
development of this iniqutous transaction, it
believed must destroy the schemes and pros
poets of the corrupt and licentious horde Of
political stock -jobbers who are now seeking
to elevate Mr. Broderick to Senatorial honors.
The developments must be STAYED off, until
the political schemes of the Broderick faction
are carried out.
FEATHER RIVER CoMPANY.-This compa-
ny are situated on the North Fork River,
about two miles from its confluence. They