Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1857-10-02

County Auditor.
From the state Journal
Chapter i'm Locofoco State Fl-
MISUNDERSTANDING Deposits I'm Bank
after II is known TO have Failcd-- Read!
Read! E-r -..,- |
The last and most desperate dodge of the
bred Scott Sham Democracy to prop their
tottcring fortunes, was the production Of Il
private note written 10y Gov. Chase to John
6. Breslin, which they allego Induced Bres-
lin to select the City Bank of Cincinnati as
a place of deposit and safe keeping Of the
Public money. Breslin himself NEVER AL
LEGGED SUCH CAUSE, and no man of sense
ever believed or could believe that the let
ter of Gov. Chase induced Mr.. Breslin thus
to act At the time tho letter was written
Tho Bank was in good standing. 1t was
written in December 81. No public de-
positc was made in that Bank until the
spring of 1852. Breslin. in his annual re-
port of December 9th, 1856, says he Sc
cctcd "thc Commercial Bank at Toledo, and
the city Bank Of Cincinnati as deposito-
rics for the Canal Tolls, IN PURSUANCE OF
THE ACT PASSED MARCH 23d, 1S40." He
says further, "At the opening of navigation
in 1852, in pursuance of the act referred to,
the Collector at Cincinnati was directed to
deposit the Tolls collected by him in the
City Bank of Cincinnati. AT various times
deposits were made in this Bank by the
Treasurer to procure exchange for the pay
mcnt of interest and redemption of bonds.
In December, 1854, (thrco years after
Chasc's letter was written, rcmember) this
Bank failed to meet the drafts given the
Treasurer for the amount OF S79,Sl1 95."
Here, then, We have tho official state
mcnt of Mr.. Breslin that he selected the
City Bank in pursuance Of a law of 1910,
and not because of the private note of Gov
ernor Chase, as the Locofoco desperadoes
now allcgc.
BY the deposition of s. Roberts, Prcsi-
dent of the City Bank of Cincinnati, which
is printed in tho appendix to the Senate
journal for 1857, page Alb, it appears that
the Bank failed to meet the drafts of the
Treasurer in August, 1853, amounting to
$77Sll 05, and that these drafts were re,
newod again and fell due in December, 18-
"a, and were again protested and not paid,
as Brcsin acknowledges in his report Of s.
So, quoted above. 1t is clear that this
Bank actually failed in August, 1853, and
Notwithstanding the large amount of public
money therein deposited, the drafts of the
State drawn upon it were protested and the
State dishonored. What will be said 10y the
tax payers of Ohio when they are told thai
this Bank was continued by the LocofccC
State Treasurer as public depository unit
July Sd, 1855, NEARLY TWO YEARS AFTEF
IT HAD BECOME BANKRUPT AMI
4 FAILED! Presi lent Robert, sin his dcpo
sition sworn to October LIST, 1885, says that
the State drafts of this City Bank were
protested and non-paid 'prior to or IN A,l-
gust 1853" The concern fiually shut up
and ceased operations as Bank some time
in the spring of 1854. Though it was
known TO the State Treasurer, and doubt,
less to Morgan, Medil & Co, as early as
August 1853, when tho State drafts
amounting to seventy nine thousand dollars
and over were protested for non-payment
yet Breslia kept on dopostttag up to July
Sd, 1855, and from May 3Oth, 1854, to Ju
I ly Sd, 1855, he actually deposited in thai
Bank the enormous sum of S75, 369 co.
Hero is correct abstract taken from the
books of the Bank and forwarded tous.
| [Herc follows q list of deposits to the
credit of Mr. Brcslin, made in tho City
/ Bank Of Cincinnati, after its failure viii
dates, amounting in the aggregate to thu
enormous sum of SEVENTY FIVE
/, THOUSAND THREE HUNDRED AMI
SIXTY-NINE DOLLARS AND NINE
'ITY CENTS. ----.e.@..-r .E.5f
1t is only necessary TO add to this cata
logue of crime that the private deposition
hare all been paid By the Bank, but not ont
cent of the States deposits have been re
paid, and it is fair to presume that whilC
Mr. Breslin was not making his deposit,
there, the money was used TO pay private
depositors, and Keep mp other .faaaciR ar.
7GRyemeats, We hear Of some cther edTi.
Gus matters connected with these operations
OF certain properties being held in trust
which we shall not now particularize, lest
liz should prevent or head an investigation
which may now or hereafter be instituted
lv the State. The above record is enough
lpf itself to show how the peoples money
was sqnandered, and suggestsa reason why
Iecrain Locofoeo leaders desire 10 raisoafalSc
issues, and throw the weight Of their own
crimes npon innocent mcn.
'rheres good time coming boys, walt little longer.
! s----.+ ll-.---.- gii.il
Maine, New Hampshire, Vermont, Con.
Inecticut, Rhode Island Iowa and Minnesots