The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-07-01
ASHLAND ASHLAND COUNTY, OHIO, WEDNESDAY MO-

report of the Investigating Committee
we have still another authority that i
conclusive and overwhelming. 1t is tn,
report of Mr. ALFRED KELLEY, Apri
z, 1856, accompanied by the written &C
knowledgment of Mr.. Gibson that Bres
lin had, at stated times, within six weeks
after leaving the Treasury, paid hin
(Gibson,) the entire amount, lacking
S212, 900, due at the expiration of hi.
(Breslin's) term of Office. That all oul
readers may see this report, and the dis
tinct official acknowledgement of Mr
Gibson, we spread them out in our col
umns. If any one desires to examine
them in the original Legislative docu
ments, they may be found in the Appon-
dix to the Senate Jourpel OF s56y =pages
80 to 81. The reader viii particularly
observe by Mr.. Kelley's report, that
the amount he alleges to be the sum due
to the State from Mr. Breslin at the
expiration oe his term of Office, was as
certained by an experienced accountant
selected by Mr.. Kelley to assist in his
examinations-a gentleman, too, of
whig politics, who for fourteen years
preceding 1852, was the chief clerk of
the Treasury Office. As already remark
ed, the amount thus ascertained to be
due from Mr.. Breslin, except the sum
of $4,000, had, according to Mr.. Glib
sons own written statement, furnishing
dates and amounts in detail, been paid
over to him as long ago as the 5th March,
1856. The unpaid balance of $2l2,-
600, is fully referred to by Mr. Kelley
in his report By reference to it, the
| Al mn oek : k1,&
was amply secured by deed of trust
on valuable real estate; and that an ad-
ditional $25, 900 was deposit debt due
from crippled branch of the State
Bank of Ohio, which Mr.. Kelley re-
garded as safe. peducting these sums,
the actual net loss through Mr.. Breslin's
Encouragement, is reduced to total
of 1877, 900. The man and the admins
tration who were elected to succeed him,
and who were pledged to introduce
thorough reform and accountability into
the financial affairs of the State, have
already, before the second year of their
administration has half expired, given
the public fulfllment of their pledges
in the form of a defalcation so enormous
that 1t erceeds any that has euer before
occurred an the history Of a'sy State an
the Union !"
This is the record of man, more con-
versant than any other in Ohio with our
fiscal affairs, He is endorsed by Re
publicans and s-''irrespective
of party" The picture he draws is
faithful to the lightest linament of truth.
If it be true, it shows also who has got
the peoples money and fixes the respon-
sibility on the present State administra
ton.
SALE OF STATE BONDS.
In this connection-let me call the
attention of the people to one other mat
ter which has record also. mean the
sale of the State bonds issued under the
act of Atail s, 1856, to pay that part of
the State debt, So, ,422, ,359, payable at
the pleasure of the State after the 18th
January 1857. Governor Chase said in
his message that proposals for this new
loan, fixed by the Commissioners at So,
100000 were advertised in Europe and
America and on the Ist of October, 1856,
awarded to the highest bidder, for the
acltOle amount at a premium of 81 per
cent"
Now, why is it. that Ohio Bonds. which
the in the fall of 1855 were bought in
by Democratic Fund Commissioners for
ll2 which had not SO long to run
either by IL years--were sold in one
year after for only 1881? Why are
bonds like these issued in 1856 pay
able in 1857 and more valuable by rea-
son of the length of time they have to
run and worth at the rates of 1855 at
least 115-why are they sold in a big
bunch, soon after, for only 1854. L
have understood that these same newly
issued bonds were soon after re-sold at
an advance of nine cents. If true, here
was handsome speculation of two hun
dred and thirteen thousand six hundred
dollars, for some onei Who got the
peoples mOneys This needs explana-
tion.
Mr.. BAscoM, interrupting "How
do you know that they were sold at an
advance of nine cents?
Mr.. Cox Rumor says so. And ifl
one year before, less valuable bonds were
worth ll2, it looks as if rumor had it
about right. This may be all satisfac-
torily explained. It is due to the peo-
pie that it should be.
I make no charges against the officers
of malfeasance. They should be glad
to have an opportunity to explain. Tt
is due to themselves and to the public. |
WHO IS TO BLAME?
I have endeavored to look at these |
matters from no partizan stand point.
have read the records. have run the
ploughshare through, let it cut where
it might. have condemned the laxity
of the Democratic Legislature of 1858
and 1854, for not passing more stringent
laws of account ia bility. 1 have COM
mended the position of the Democratic
Auditor in urging such action. l have
commended the action of the Repbubli-
can Legislature of 1856 for passing such
a law. L now ask your attention to that
law, and its requirements, Gibson t0ok
his Office in January, 1856. In April,
1857, that law was passed. It made it
the duty of the Auditor and Governor
to make inspection, rigid and strict, in
to the Treasury. They were to see that
the money was actually in the Treasury
vault. If not there-where it was. If
in another depository, to examine the Sc
curities. If they were bad or INSULT
cient, they had powers given, by which
to bring the money into the Treasury
if it were possible. A more stringen,
law IF executed-there is every reat
son to believe this crash would not have
come. Let me call your attention to
some of it's provisions.
SEC. I3. The auditor shall, alone,
-.al |