The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1857-10-01


have been placed-thste were but two known
as Democrats, (Joel w. Wilson and myselIt
two known as free soilers and one whig!-'
! During, the second session the Finance
Committee of the Senate was unit 50 far
as the Democratic members were concerned
but utunfortuutely, in the House there were con-
hcting views and interests. Still all these
difficulties might have been obviated or sur
mounted had it not been for the extraordna-'
ry influence broGght to ar, from interested
sources, on a few Democrats. Moreover
the motives of the friends OF the bill were
assailed. They were charged with being ac.
tuated alone by feelings of personal hostility
aud cnmty toward the treasurer of State.
All these untowurd influences had their
weigh in dividing and dislracting Democrat
ic councils; while the compact and united
vote of oil the opposition members of the
legislature was on every occasion, thrown
directly Ogains. any and every proposition
to organize on en- Independent basis, organ
ize the treasury on an independent basis, or
10 provide against the improper use being
made OF the public funds. Far be it from ME
( however, to impute corrupt motives or wilfu
disregard of OF public duty to those who did
not perceive, at the time, the necessity for
such legislation as was proposed. They
were assured that all was right; that no harm
would belul the State; and had they dream
ed that such developments as are now be-
ing made would come to pass, do no doubt
but they would heartily have concurred in
almost anything that seemed likely to avert
such calamity. But the results which were
| predicted are upon us. A course of official
malieasanCe has been exposed TO the public
gaze which stands without parallel in the
hist3cy Of any State in the Union, furnishing
the fair fame of oGr State, and almost bank
rupling the treasury for the time being
| There is now a RESPONSIBILITY to be borne
and however misguided or mistaken men have
been in their actions heretofore-however
honest they may have been-it cannot now
be expected or permitted that they should
shoulder the responsibility on others, who,
moro fortunate perhaps, than they, stand
right on the record aud sounded the alarm at
time when prompt and decisive action
would have prevented the calamity now fel.
and regretted by all.
I might here with propriety, refer to the
report of Messers. Morgan, Trevitt and Pugh
as commissioners Of the Sinking Fund, dated
July Is, 1852; the reports of Auditor Nor
Gan of Feb. %, and December 26, 1858,
March % and December IL, 1855; and tie
message of Coy. Medill, Of January 2, 1854,
in each of which communications, legisla-
la,ive action was recommended on this sub.
iect, substantially such cs was embraced in
the Bills to WHICH |. referred. .t.
But nv main objectin this letterhas been to
repc the charge OF "direliction of duty" on
the part Of majority of the Democratic
members of the Les legislature, leaving the re.
aponsibility where therecord put it, whether
that shall be on political friends or oppo.
nerts.
There was anether measure connected
with the financial policy atteuped be in in.
aueurated under the new constitution, which
deserves passing notice. This proposition
had for its object, primarily, the reduction
and speedy payment CT the public debt of the
State: and, secondarily, the keeping of the
Treasury as nearly empty as was consistent
with prompt discharge Of its liabilities
. Knowing full we'll that while large str
pluses were permitted to accumulate and re-
main in the Treasury unemployed, it was
the interest of those having their custody t.
. to keep up taxes, and at the same time tina
large amounts of public debt, so that larg'
amounts Of public money should remain il
, their hands, on which they could speculate
S This policy looked to the payment OF tha
d portion of the State indebtedness falling du
December 81, 1859; and d continued reduc
e ton, exceeding the minimum fixed by tn
e Constitution, by the purchase of the ou
IS standing bonds in advance Of their maturit!
!. and thus saving to the State the intere
that would necessarily accrue by pFolongi
10 ton of the time of payment.
,e The first Legislature under the new Coz
of sttu;on had initiated this policy in an a
lc prescr ibing the duties of the Commissioner
ic Of the Sinking Fund, wherein the Commits
y toner's were authorized and directed to q
ply all moneys belonging to that fund to tt
/. purchasing Of out standing bonds of Il
x. State or stocks of the United States, whe
or ever they were unable to procure Sta
" bonds. At the commencement OF the sc
re ion of January, 1854, Gov. Medill, in
ee message to the Legislature, urged the pl
st priiy of making provision for the PAYNE
he of bonds falling due December 81, lSI
nd then amounting to the sum of S3 ,442, Z
of the sarae policy having been strongly
m. C comaended BY, Auditor Morgan in his
er nunl report of February u, 1853.
lld The Senate Committee on Finance
ia whom the subject was referred. introduce
bill making appropriations fer the paym
lch of principal and interest of the public q
for for 1854 and 1855, and ,levying tag
,.l e 49, ;u On tho dollar on