The Nevada journal., 1854-03-24
OFFICE OF STATE TREASURER.
Sacramento, March l6. 1854.

! 10, 1OO4.
To the Honorable the Prest. Of tile Senate:
SIR In accordance with a resolution
adopted by the Senate the 18th inst " re-
questing the Treasurer of the State to fur
nish the Senate with a statement of the
amount of public moneys deposited with
any banking house or houses, and also to
furnish the Senate with such information
as he may have relating to the non-pay-
ment of the interest due the lst of Jan,
last, in New York, upon the Bond of the
State of California, | beg leave TO state
that the amount of public moneys in the
hands of Palmer, Cook & Co, is one hun
dred aud twenty-five thousand four hun
dred and sixty-fve dollars and eleven
cents, $122, ,465 1-100, this being the only
banking house with which have deposits.
In relation to the non-payment of the
interest due the 1st day of January last in
New York on the bonds of the State of
California, have only to say, that except
from the house of Palmer, Cook & Co., |
have no positive information, except such
as was furnished me indirectly through
newspapers. verbal statements of individ-
uals and letter addressed to his Excel
lency Gov. Bigler, and the Hon. Samuel
Bell, Controller of the State, by Messrs,
Duncan, Shesman s. Co., in which it was
stated that the American Exchange Bank
had informed the bond holders that they
had no funds on hand with which to meet
the Jan uary payments referred to in the
resolution of your honorable body and
for the purpose of protecting the honor
and credit of the State, they had furnish
ed the requisite amount of money to meet
this payment
The next positive information l have on
the subject, was derived from personal
examination of the books nd correspon-
dence of the house of Palmer, Cook & Co.
with the American Exchange Bank, by
which it appears that the house above men,
toned, did on the first of January last,
have standing to their credit on the books
OF the latter institution, the sum of seventy
two thousand dollars, or an amount much
greater than was necessary TO meet the
liabilities of the State alluded to in the
Senate Resolution on the I5th inst. This
statement, in the form of an abstract from
the books Of Messrs. Palmer, Cook & Co.,
was sworn to before notary public by
the book-keeper and cashier of the house
of Palmer, Cook s. Co.; and after having
been duly certified and sealed by the Sec
retary of State, was forwarded by me to
the Hon. VIM. nj. Gwin, with a request
that he should use it as helm his Judgment
might think proper.
Further than this, ] know nothing
beyond the statements of newspapers
Mr.. Cook, of the firm of Palmer, Cook s.
Co., informed me few days since that he
would communicate with me on the sub
,ject at the earliest moment in his power
While on this subject, beg leave, res
pectfully. to assure your honorable body
that every precaution has been taken by
me to secure the public interest, so far as
the safe keeping and disbursing public
moneys is concerned. But that the Senate
may have an opportunity to judge of the
correctness OF this statement, a copy of the
bond executed by Messrs. Palmer, Cook
s Co., is herewith ira arsmitted, the original
being on file in the Office of the Secretary
of State.
1t Is due to those concerned that should
state that this deposit was made agreeably
to law, and in consequence of the neglect
of the State to provide the necessary
means for the safe keeping of the public
monies.
All of which is respectfully submitted.
Your obedient servant
S. A. MCMEANs, State Treas.