The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1857-07-09
Report OG Si:e Senate COMMITTEES
on Fi::nmce Relative TO the Con-.
disiosa Of the state Treasury of
Ohio, ApTji 9Th, 1855.

/ OH EissNEc2 GS S@satEVC TO the Con-
siitie5a Of the state Treasury OF
Ohio, AETji 9Th, 1856.
| The Committee on Finance, instruced bv
reso luton of tie Senate to inquire into the
condition of the Treasury, its funds and ac.
counts, report tiiat they have devoted 10 the
| duties assigned them all the time aud atte1
ton that their other legislative duties ould
permit, but have found it impossible, during
the session, to make that minute rz4nina.
tcn which SO important branch of the pob.
lie interest requires, and WHICH would be
necessary to arrive at perfect accuracy in
regard either to facts or accounts. This, we
trust, will be an apology for any errors into
which the Committee may have fallen in the
statements now Submitted.
K ~
1t appears from communication of the
Treasurer to the Committee, marked c.,
herewith submitted, in answer TO certain in
quiries, dated March %, 1866, that be then
held, in checks. drafts, bills of excangc, and
certificates of deposit, the gross sum o $685..
29l 26, which has been held with but few
exceptions, and for comp mparatveIy small
sums ).from fifteen days to upwards of two
months, without having been presented eth.
er for acceptance or payment. The Committe
view this as loose and irregular mode OF
managing the finances ofthe State, and one
fraueht with great niger ard loss.
The Committee have reason 10 believe.
viewing the condition of the funds in the
Treasury, and the large balance due from
the late Treasurer at the time of gi3ino I'm
his office, the varicus times when parts ofihat
balance were paid to the present Treasurer,
and the feet that there still remains a large
balance in his hands-the most of the drafts.
certificates Of deposit. and acceptpnces now
in the Treasury, were paid TIE present byt the
late Treasuser, and was obtained by him with
the understanding on the partof the parties
furnishing the Same, TINT they would not be
presented for payment until The demands OF,
the Treasury should make it necessary TO
demand their payment. This may fairly be
inferred from the statement Of the present
Treasurer, contained in document G, in which
he seys:"I have said t. bankers that oii,ld
notify them, II possible, before using their
certificates" = IA.
In connection with tae foregoing, it NAV
be proper TO advert to the fact that of the
drafts, certificates Of deposit and other evi.
dences of debt held by the Treasurer on the
l4th of March, ana Considered BY them as
cash, amounting in all to The sum Of H29S.. |
29l 26 nearly one half; to wit: the sum of
Sl47,0 ,04S 40, consisted of drafts, &C., ofthe
Seneca County Bank, and of Toombs, Huss
& Co. It would eeem from the report oil
Charles Remelin, Esq, who was appointed
10 examine certain banks, {pages las to 1879, u
that the Seneca County Bank, and Toomb,
Huss, d GO. are SO intimBtety connected in
heir fnaHcial operations that they may be
in regard TO these operations, as
one concern. 1t also appears,
hat both the late and present Treasurers
lave been, il they are not now,. interested
n that bank. '.''
When we consider these circumstances
md also the fact that an information in the
nature of a quo warranto has been filed and
now pending against the bank to test the
question whether or not it's charter is for.
cited, we cannot hesitate to express our de.
ided disapprobation of the selection of that
oncern as one Of the principal deposit cries
I the public money. The suffering ofits
aper ole in The Treasury without presen.
ltion, either for acceptance or payment, is
ertainly very unusual aud unbus;ncss like