The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1857-09-16
TEak RECORD OF THE
Administrations OF the state Govern.
ment in the hands of the
DEMOCRATIC PARTY!

| ministratlon of the State GoVornnent,
under Gov. Medill and his colleagues,
Mr.. Breslin was constantly at issue with
all his Democratic associates in the Go;
1ernment, If We except the Board OF
Public Works.
1t is also equally notorious, that in
all these controversies, Gibson, Chase &
Co., the Ohio State journal, and all the
Bank and fusion papers in the State,
espoused the cause of Broslin.
A few weeks since we published ex-
tracts from the Messages of the able
and ipcorruptible Medill, showing fully
the character of the issues he made
with Breslin.
We now re-publish below extracts
from the reports of the Commissioners
of the Sinking Fsnd, which is a record
to which the honest and radical Demo
cracy of Ohio can always recur with
pride. Further comments hereafter.
Extract from the Second semi Anpesl Report Of
] the Commissioners OF the S1nkipg runQ.
On the 18th of November, 1852, a
meeting of the Commissioners was held
for the pirpose of considering. what steps
were necessary in order to secure the
safe aud economical transfer Of $448,-
22S rs from the Treasury of Ohio, to
the city of New York. for the payment
of the January interest on tie foreign
public debt. A written proposition wa:
submitted from the Cashier of the Ex-
change Bank of Columbus, in behalf of
that Institution, and other responsible
parties in Cincinnati, to furnish, free of
charge. $4,000 in par funds, on New
York, payable on the first day of jan
uary, 1858, without grace or exchange,
for an equal amount of current bank
notes, delivered by the goth Of Noyem-
Der. A similar proposition, for the sum
of 500, 900, was also received from the
Clinton Bank of Columbus.
Inasmueh as the Commissioners of
the Sinking Fund had reason to believe
that the money required for that pay
ment of interert on the public debt was
then, and for a long time had been, in
the use and custody of banks, without
any resulting advantage to the. State, it
occurred to them that so long as the prac-
tice of loaning public money to banks
was tolerated; the State should be allow
ed to receive 80 much profit therefor as
would pay the semi-annual purchase of
exchange. They accordingly resolved
to notify the State Treasurer of their
views in this particular, aud make known
to him the propositions of the Exchange
and Clinton Banks, in order that he
might have no room to doubt the prac.
ticability of making such arrangements in
behalf of the State. The following or,
der was therefore adopted by the Com
missioners on the 18th of November:
"Ordered, for the purpose of protect
ing Lthe State against unnecessary los,
ses in the purchase of exchange, and
inasmuch as the Treasurer of State has
heretofore Ito wit, in May. 1882 tefts-
ed to pay the draft of the State Auditor,
issued in pursuance an order in favor of
one of the members of the Board as
Agent zt-.-.4.-. .... n
sThat requisi tion be now made on
the Auditor of State for his draft for an
amount of money equal to the interest
due in New York on the first day of
January, 1853, on the foreign public
debt of Ohio, to be made payble to John
G.. Breslin, Agent of the Commissioners
of the Sinking Fund, for converting said
amount of funds belonging Ito the Trea-
sury of Ohio, into.an equal amount of
par funds in New York, in accordance
with the arrangements O. said Board.
Pursuant to the above order, a requi-
sition was Immediately made on the Au-
ditor of State, whose drGft en- tie State
| Treasury was issued il the words follow
ing to wit:
AuDiTeK STATES OFFICE,
Dapaytntent Of Pa6lic Works,
Columbus, November ls, 1852.
TkEksuRER OF THE STATE EFF Ono:
SIR The Commissioners of the Sink
| ing Fund have this day made the follow
ing requisition on this Office:
CrrIcx OF THE srsKr.e FUND CoMMIssroNrRI.l
Columbus, November Is 1859.
AUDITOR OF THE STATE OF ONO:
SIR. The Commits sioners of tie Sink
ing Fund, have received written propo-
sitions from the Exchange and Clinton
Banks of Columbus, for themselves and
other responsible parties, toplace in the
city of New York, free of exchange apd
other charges, By the 3lst of Decent s..
1852, (without grace, the sum of three
hundred and ten Thousand dollars, for
the payment of interest due in that city
on the first day of January, 1858, on the
foreign public debt of Ohio-an equal
amount of currency to be delivered to
said banks by the Sinking Fund Com
missioners, or their agent, on the Goth
day of November, 1852. They also ex-
pect to perfect arrangements of like,
character, for the additional sum of one
hundred and thirty eight thousand two
hundred and twenty eight dollars and
seventy-six cents, being the entire bal
ance of interest falling due in New York
on the first day of January, 1858.
This, therefore, is to require you to
issue your draft in favor of John G..
Breslin, agent, for the accomplishment
of the purposes above indicated, for the
sum of four hundred and foriy-eieht
thousand two hundred and twenty eight
dollars and seventy,six cents, to be ap-
piled under the Instructions herein set
forth, and the proceeds thereof to be
held subject to the further order of this
Board. sueis stf
For which said draft this shall be your |
warrant. G y.s
s.I5g VIM. D. MORGAN, i
Acting Commissioners.
WIN. TREVITT, 49,. I
Advisory Commissioners.
In pursuance of the above rsquisisioe,