Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1857-10-01
Another Chapter in LOcOfOcO
State Financeering =. Making
Deposits in a Bank after il is
known to have Read!

StdSe FlHauCecrInS - mahl0S
Deposits in a Bank after it is
known to have Failed--Read!
Read!
The last and most desperate dodge Of
the Dred Scott sham Democracy to prop
their tottering fortunes, was the production
of private note written by Governor Chase
to John G. Breslin, which they aliege in
duced Breslin to select the City Bank of
Cincinnati as a place of deposit and safe
keeping of the Public Money. Breslin
himself NEVER ALLEGED SUCH CAUSE, and
no man of sense ever believe that the letter
of Gov. Chase induced Mr.. Breslin thus 10
act. AT the time the letter was written,
the Bank was in good standing. 1t was
written in December 81. No public de-
posit was made in that Bank until the
sp,ing of 1852. Breslin, in his annual re-
port of December 9th, 1855, says he Sc
lected "the Commercial Bank at Toledo,
and the City Bank of Cincinnati as de-
pcsitories for the Canal Tolls, IN PuRsU-
ANcE OF THE ACT PASSED MARCH 23d,
1s40." He says further, "At the open
ing of navigation in 1852, in pursuance of
the Act referred to, the Collector at Gin
cinnati was directed to deposit the Tolls
collected by him in the City Bank of Gin
cinnati. At various times deposits were
made in this Bank by the Treasurer to
procure exchange for the payment of in
terest and redemption of bonds. In De
cember, 1854, (three years after Chase's
letter was written, reniember,) this Bank
failed to meet the drafts given the Treas
urer for the amount of S79,S11 95." Here,
then, we have the official statement of Mr..
Breslin that he selected the City Bank in
pursuance of law of 1910, and not be-
cause Of the private note of Governor Chase,
as the Locofoco desperadoes now allege.
By the deposition of S. Robert, President
of this City Bank of Cincinnati, which is
printed in the Senate journal for 1851,
page 4la, it appears that the Bank failed
to meet the drafts of the Treasurer
in August. 1858, amounting to $780,
S11 95, and that these drafts were renew
ed again and fell due in December, 1854,
and were again protested and not paid, as
Breslin acknowledges in his report of 1856.
quoted above. 1t is clear, that this Bank
actually failed in August, 1858, and not
withstanding 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 by the
tax payers of Ohio when they are told
that this Bank was continued by the Loco
foco State Treasury as public depository
until July Sd, 1855, NEARLY TWO YEARS
AFTER IT HAD BECOME BANK
RUPT AND FAILED! President Rob-
ert, in his deposition sworn TO October 1st,
1856, says that the State drafts of this
City Bank were protested and non-paid
'tprior to or IN august, 1853" The con-
Germ finally shut up and ceased operations
as bank some time in the spring of 1854.
Though it was known to the State Treas
urer, and doubtless to Morgan, Medill d
Co., rs early as August, 1853, when the
State drafts amounting to seventy-nine
dollars and over were protested
for non-payment, get Breslin Kept on de-
posting there up to July Sd, 1855, and
from May 10th, 1854 to July Sd, 1855,
he actually deposited in that Bank the
enormous sum of $75,369 80. Here is
correct abstract taken from the books of
the Bank and forwarded to us.
Deposits to The credit Of John g. Bredin. Treas
- fIo( Gy,, aff