Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1856-04-25

Canal and Common School Funds------- $3.50 957 90
Add over drafts above referred tO------ $3.50 So
Total amount nt-----------------s1 ,Osa, ,49s % 2
OF this sum there was due to
the Sinking FUND.- SS41.46T ca
To the District Library Fund 1881 9s 3
To the General Revenue----- 17S.S46 SO
The discrepancy between the above state
ments of the Auditor and Treasurer may,
probably, be accounted for by the fact that
the two accounts refer to different dates, and
that the difference between the receipts for
the intermediate eight days may equal the
difference between the two accounts.
1t appears from communication of the
Treasurer to the committee, marked c.,
herewith submitted, in answer to certain in
qui-ies-dated March %, 1856-that he
then held, in checks, drafts, bills of exchange
and certificates of deposit the gross sum of
$296,29l 26 which had been held, with
but few exceptions. and for comparatively
small sums) from fifteen days to upwards of
two months without having been presented
either for acceptance or payment. The
committee view this as loose and irregular
mode of managing the finances of the State,
and one fraught with great danger of loss.
The committee have reason to believe,
viewing the condition of the funds in tho
Treasury, and the large balance due from the
late Treasurer at the time of giving up his
office, the various times when parts of that
balance were paid to the present Treasurer,
and the fact that there still remains large
balance in his hands-that most of the
drafts, certificates of deposit and aeccptances
now in the treasury were paid to the pres
ent by the late Treasurer; and were obtain
ed by him with the understanding on the
part of the parties furnishing the samo, that
they would not be presented for payment
until the demands on the treasury should
make it necessary to demand their payment.
This may fairly be inferred from the state
ment of the present Treasurer contained in
document c., in which he says-"I have
said to bankers that l would notify them if
possible before using their certificate"
In connection with the foregoing, it may
be proper to advert to the fact that, of the
drafts, certificates of deposit and other evil
dences of debt held by the Treasurer on the
14th day of March, and considered by him
as cash, amounting in all to the sum of
s296,29l 26, nearly one-half to wit, the
sum of Sl47,o4s 40, consisted of drafts, &C.,
of the Seneca County Bank, and of Tomb,
Huss & Co. 1t would seem from the re-
port of Charles Reemelin, Esq, who was
appointed to examine certain banks (pages
l35 to 1897 that the Seneca County Bank
and Tomb, Huss & Co., are so intimately
connected in their financial operations that
they may be considered, in regard to these
operations, as substantially one concern. 1t
also appears that both the late and present
Treasurer have been, if they are not Low,
interested in that bank.
When we consider these circumstances,
and also the fact that an information in the
nature of quo warranto has been filed and
is now pending against the bank to test the
question whether or not its charter is for
feited, we can not hesitate to express our de-
cided disapprobation of the selection of that
concern as one of the principal depositaries
of the public moneys. The suffering Of its
paper to lie in the treasury without presen-
tation, either for acceptance or payment, is
certainly very unusual and unbuSinesslike
course, and, under tho circumstances, can
not fail to create suspicion that the paper
was procured to pay part of the balance due
from the late Treasurer, with the under
standing or expectation that payment would
not be demanded until the exigencies of the
treasury should imporiously require it.
The committee are of opinion that safety
demands the immediate presentation of all
such paper in the treasury, for payment, or
at least for acceptance; and as most of it is
drawn on banks and bankers in New York,
they recommend that all such paper paya-
bic in New York be at once transferred and
indorsed over to the commissioners of the
sinking fund, and be by them Immediately
for acceptance and payment. To.
this purpose the committee here
with report a resolution which they recon-
mend for adoption.
From the accompanying statement of the
account of A. A. Bliss, Esq, late Treasurer,
by Robert Hume, Esq, marked
D., it appears that the balance in his hands
ut the time of giving over his Office to his
successor, Mr.. Breslin, was S3O2,115 Sc 2.
Mr.. Breslin, as Treasurer, subsequently gave
Mr.. Bliss a receipt in full for the balance
due by him (Bliss) to the treasury, which
receipt does not, however, specify the amount
Of such balance. A copy of this receipt
roarkad F. il haraTvith submitted