The true Democrat., 1857-05-19

| atltnOrl- ty ot law therefor known to your committee. and 10 pay the printing of the acts, etc. of inc last General Assembly, amounting to s4 667 l9 in good funds, $18,149 SC of bank paper | has been sold 7" W hatever may be the value of bank na,er m the market, every dollar of it in the vanIts of the bank Is a dollar to the State. and to raise the amount of $l3 425 36 for bank off. cefs a4d expenses, S95OO for the penitentiarv anu 9too' IS for printing, the means If .tbe ! pa oank ana the State to the amount of SlO6 O3O 36, have been used"
 he committee then proceeded to discant ~'.n |ia coHS'dGraoie severity on the conduct of -lf' Apher F. Ihuutou who was at that time the financial receiver of the bank
 It appears" they said, '' that the financial receiver exchanged uotes, or, in other wori t'2ied l0'he himseJ for bonds, or exchaug. for notes, and, as lu other cases, no record oI the transaction Was kept on the books of the bank. : IL also appears that the financial receiver has been extensively engaged in d brokerage of notes and bonds, anI while your committee would not presume to interfere with the pri Yate trahsact.ons of al individual, vet they tnluh the interest, of the Stale would be L-sl suOserved by aa officer who abslained entirely from all dealings in funds, and particularly from trading with himself"
 About two years later, Gov. John $. RuaUe sal" lh hla message, reieIriug to a reI irt int then received from Mr. j. NJ Ro.. inc new financial race ycf-
 "J od5lns from the facts thus prese,ted il requires no eNu4ordIumy degree oi mental aeuhe" to dejerniue that tuc history W this bank Is bat a catalogue If the Lrossest n..rnan. aSement aud criminal negligence (to use !.o h9fsher term) from the date of her charter uu- lii the present tune; aud that heavy loss to the o,ate must be the c0nsequence
 10 arrive at this conclusion. we need ,o no further back than to the date of tile act of li- quidauon which, as l contend, was conceived In error anu will result in misfortune. Among the numerous objections that might be urged against this law, not the least prominent is the unnecessary extension of time granted 10 the debtors of the bank. It is we'll attestel fact that the longer debt remains dne and uIl- pald, the higher we feel the obligations resting upon Us to pay it. This has been clearly ex- emPlliied Ill the case of the State Bank. and h eonseqUence of this very principle, thousands, Ii not hundreds Of thousands of dollars, have been lost to the bank
 consequent upoa, and rendered necessary hy lh4' mistaken .aultl, was eaEr4fted upon tie la" to'AerPGnerie but little les ue~truc- tive jo the lnter.st, ot the bank, the elntioy- menJ and pay of so large number If officers Inef salaries, thau-h small, aAea seia.te,y (too small M some Gott.c.s t. cumin.l..! the most competent indlvIuas,) vet Nheu takeuI m Inc aggregate, the doubt may be reasonably entertained neither tAc saiaIie, dtI aot amount 10 more than by their agency was recovered for tine bank. h some instances. these officer, nave btrH incompetent; .u others cliniualiv negligent; while IL owe instance, that ot Ab- uer F. lnomtnl, absolutely dishourst The eNI4elc+ of tHetf lueonpeteucv Will apaaar Upon the ffe'rtS oI our cour.s where lut bank haS bee" not oDly defeated in the attempt to coetee pay mcnt b1i left with d heavy ui ol eo-iS Lo aI; agala | Will arler ffam th-.r ill., anl.tE >u to Keep tdcr books as l., eNu.D.t. tho tueactinua Of tut b.. k.
 " ne gross ue4l Lence will be found to exist in permit ing more than two hun iseI thousand dollars of the notes due to the bank 2, rr- mah a tne.r hands, tjl they Were barred uy lDe st4tu.o ol iml.tIoaS.
 Ine dishonesty of Abner F. Thort0u i, manifest ,nrOugAou his whole ode54l car-epr cAH tGta1 Ugt series of Dmbezzlemeuts aul iorIerie~."
 According to a report datcl October the 3ls.. loIQ, the condition of tle $ are Bank aid lts o.aucnea was then is follows:
 LIABILITIES.
 tam-al. .-..... l.5'2 -'5 zs tAealH-len ...-............ sej -tl.ur. 5He other banks aHd to depa-itor,.. 4.-.175 7 , AIu9eut und......-............... It 55- ". lr5Ht .4a l--~ ....................-.. gr#u .s
 @42Na9 gs
 ASSETS.
 Dis a.s. u,.e- d-.0u.t. t............... 41l --a I. ~l l-i.au ut t......-............... zJy-ls ..5. N.~ .tl.r banks .. usll.I. and lu.-
 auc.- oU. uy ..Ge 1aI.o~............ z55 -.5 -l Am m. lue h. pslNe pt. b .l.k trrg.l-
 eFal N.en>c, "t general u4uII...... 4.G u. ReA- E---4 4...........-.......... 555.7 4J This is a condensation of the latest Slate. mcut t..t Was hjl before the legislature. pre- rio0s to tAe passage of the ll4.aIa4 acJ.
 The committee on biaas -t.. iu tl..r retort of Ja uary rhe 9th, 1849, tlat " when the - 4uidation act woHy into io.ee m 1913. th- a,- sa-, o, the bank amounted to @l 9@-l2J I5" But they ao not state It what these 1t, then consisted, nor does the sam. 14y uucro dis thely appear.
 IL hi, message of Nov. 8ai. 1-i2. Gov. Yell sEa: " T 'ue whole ~muu.toI u..., rgc..- va5le - About Sl,6)ygJD"
 Int rezt statement we have of tue co,l- io4 ot l4e bank aut ,- Lraacles .s J.t... D <. z6 |, ISiG, aud is substantially as l...o4.:
 LIABILITIES.
 9-a.e htnl< sud io..iysa. -a. -5 a. ..la. ............... .......... .... .-4- a, Halaa.. ..s,'Ncra li .iliiua.- ru Iaa. fay-
 I1e.t t"i uutcs ..... ...... *t nla .2 at.t1.#a-H.- iLall>g fhe J,I4h.......... .t..n to HI-sI. ..us..I- ....................... o..., ~.
 *..e-a.o-5 4-
 AS-LTS.