The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1856-05-15


closed statement, showing the date, a.
mount and terms of such as were held
by me on the 18th, and are yet in the
Treasury. ~
Those now hold have never been pre-
sented for acceptance or payment, but |
presume that those disposed Of have been
presented and paid" as | indorsed them
and have received 20 notice of protest for
non acceptance OF non payment. L doubt
not they have been promptly paid.
have never agreed to hold. or been re-
quested to hold, any draft or bill of ex
change before presenting the same for
payment, for day or an hour; and have
never waived, agreed to waive, or been
asked to waive, acceptance on any draft
Ior bile exchange except in two instan-
ces; indicated in the statement enclosed
I have verbally agreed to hold certain
certificates, thirty daKa as indicated by
statement. / had received of my prede-
cessor Auditors warrants and certificates
of deposit and checks payable at remote
points, to collect which would cost the
Treasury one half Of cne per cent. I
have received similar claims since [ took
charge of the office, and to make all avail
able I was forced to do one of two
things: either paw the expense of collec-
Ition, or take Bankers certificates therefor
agreeingto hold them thirty days. did
not hesitate to adopt the latter policy In
this way accumulated some conside able
exchange, hoping to hold the drafts of
Banks knew to be good. rather than
those Of which I knew ns'hing. l have
intended, so soon as I could act with a
knowledge of the state Of funds. and the
demands upon the Treasury. to make en-
.gagements for the necessary exchange to
meet July interest. In this | expect to
use money certificates now held but as yet
have made arrangements for only S65,ooo
besides the exchange now held. The cost
of all the exchange now hold has been
s83 so to the State, and hope to pro-
cure the requisite amount upon terms e.
qually advantageous to the State Every
certificate Of deposit not designated as col
lection" had right to present for pay
ment on the day of their date, and have
never agreed or been requested to hold
them single day. I have said to Bank
ers that I would notify them, if possible,
before using their certificates. ] am re-
spectfully
W. H. GIBSON, Treasury of State.
This was accompanied with a statement
showing the date, nature and amount oi
each draft and certificate of deposit then
in the Treasury, which had on the 18th
of March. And now the alarming discov-
ery is made, that bad held some Of them
"from fifteen to sixty days" This is
called ''loose and irregular mode oil
fDanas4fHss tisy rsr4Fsts-7>. af the State -
The gross amount was S296,291, 26, and
in my note of the 4 h / had stated why
| held them. M ny banks held demands
against the State which was to pay in
their own certificates. / am willing to a
bide the public judy upon this''lco,
and irregular" transaction.
Mr.. Kelley knows that all the banks
were responsible, and in addition I have
stated that the State would owe the banks
Why, then, this alarm? 1 held consid
erable amount in sight drafts upon New
York. I had no account in New York
or any arrangement for the deposit o
funds there. I knew the drafts would bt
paid on representation, AS they have been
since. | had set out to procure exchange
at the least possible cost, and what | hat
procured for $ S83. so would costnow $500
a z, gr-tir,-. Ae.~eser. Of ME.,iffsf
lev, was directed to convert what | haf
and to collect the certificates of deposit
Every. business man will admit the abso
lutte folly and waste of this legislative or
der, which I had to obey at a loss to tn,
people of at least 600. But one alterna
tive is left to me in procuring exchange
The object of Mr.. Kelley appears t.
have been to place the State at tn mercy
of banks when exchange is wanted.
must GO to the banks and pay at any rat.
of premium demanded. Thus the cx
change of the State for year. it will cos
at least SO 900. when it should not cos
$500. Bat as tits Mr.. Kelley's policy. i
must be right. I have but to execute the
Legislative will, and shall do it withou
hesitation.
Here. however, is the richest announce
ment of the committee. -
e'The committee have reason to believe
viewing the condition of the funds in the
Treasury. and the large balance due from
the late Treasurer at the time of giving
up his office. various times when parts o
that balance were paid to the presen
Treasurer, and the fact that there still re
mains large balance in his hands-tha
most of the drafts certificates Of deposi
and acceptances now in the Treasury wer
paid to the present by the late Treasurer
and were obtained bv him with the under
standing on the part of the parties furnish
ing the same. that they would not be pre-
sented for pas ment until the demands o,
the Treasury .hould make it necessary t
demand their payment. This may fairl,
be inferred rom the statement of tn
present Treasurer contained in documen