The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-09-03
Gov. Chase and RTeSliM'S loan to
the City Bank Of Cincinnati.

|
We have heretofore brought to the notice of
our readers, the remarkable fact that one of the
heaviest losses sustained by the State Treasury
during Breslin's term Of office, was occasioned
by the rottenness of bank in Cincinnati which
was aided by SALMON ?. CHASE in getting from
Bresln large deposit of the public money
The loss to which we refer, amounted to the
large sum of $4,000 swamped in the City
that in our former references to the part played
by Gov. Chase in this matter, we charged him
with having recommended the City bank knowing
it to be in a rotten condition. Up to the pres.
ent moment, we have made no such charge: we
have heretofore RETAINED from expressing an
opinion as to his knowledge of the rottenness oil
the bank he recommended But now as the
q,,ilty knoO7edqe of Gov. Chase has been put in
issue by the blundering imprudcnce of editors
and politicians who stand ready to defend him
right or wrong, we propose to give them some
thing on this subject that cannot be branded as
a "Locotoco Abeln' Without further comment
therefore, we ask the public to read the follow
ing passages from the Report made to the Lcgis-
lature in January last, by the Black Republican
Committee appointed to investigate the condi-
ton of the State finances:
"'rhe committee are also satisfied that large
deposits were made in the City Bank, by Mr..
Breslin, before the opening of navigation in 1852,
not only from the report of w. L. Johnson who
I a. As.,,I tNn
report of Mr. johnson was made to the Auditor
of State April 13, 1852, and ,oas By him COM
na,neicated to the Senate the 30h day Of tie same
month. From the statement of its
assets, and otherwise, in Mr. Johnson's report
of April, 1852, the bank appears to have been
then IN A ROTTEN CONDITION.; a condition
that c5ulk not hare been apknoavn to the business
men of Cincinnati; and could not haze escaped the
oJservatson Of A PERSON OF ORDINARY
INTELLIGENCE, seeking safe depository Of
large amounts of money.
The City Bank of Cincinnati was organized in
May, 1915, by five persons, the principal o
whom was a broker; was subsequently sold to a
citizen of Cincinnati and q New York broker
and was again sold in 1850; having thus in five
years three sets of owners. With this history
necessarily public, sound institution and pub
lie credit could not be hoped for"
(Signed) R. w. TAYLOR,
B. f. SMITH,
JOHN A. SINNETT.
The above is plain and unmistakable in it,
meaning. 1t is not "locofoco libel''sbut is thu
+ solemn official declaration of committee o
; three intelligent Republican Legislators. They
say that the bank was unsafe-that it was abso
lutely ROTTEN-and that its unsound condi
tion must have been KNOWN not only to the
business men of Cincinnati, but to ANY PER
, son OF ORDINARY INTELLIGENCE.-
Was Governor Chase man of ordinary inteli
gence? If he was, then the Commttee-A
Black Republican Commttee say he MUST
HAVE KNOWN the bank to have been rotter
5 when he recommended it to Breslin as a depos
itory. 8
: The motives which governed Breslin, an
: those which controlled Chase in this matter
t were different in certain respects, and yet wer
: equally devoid of patriotism. Breslin desire
y to defeat certain legislation that would kee
7 him in check: Chase wished to repay the long
: tried devotion Of his abolition croney, the ban
: cashier 1t was just two or three months afte
9 the democratic State officers had gone into offiC
y and Breslin was struggling to exclude the Sinh
# ing Fund Commissioners (Pugh, Trevitt an
/. Morgan,) from all supervision or control oye
Q the custody Of the Sinking Fund To effet
! this object, he must control the pmking of Ger
It tain laws. AS means Of accomplishing thi
n he hoped to convert to his service the democra
!. ic chairman Of the Committee of Finance in tn
n House of Representatives. This chairman wa
d a brother-in-law Of the President Of the Cit
" Bank Of Cincinnati. Breslin had plenty OF me
) ncy in the Treasury; but he knew the bank t
be rickety affair He hesitated as to what h
should do: would like to make deposit, bu
y n was unwilling unless it was recommended.
y The abolition cashier goes to Chase--asks for
i Eletter to Breslin--recounts his own services
# dwels on his early and long-tried devotion |
: 9lbcrty" Chase writes the letter as requested
:" 1t is quietly delivered to Breslin-is CAREFUL
Oh read, pondered and filed away. The bank gel
d the money; Chase has paid his obligations [
is his bank abolition ally; and Breslin is not trot
blei with laws that would have given to I'll
Fund Commissioners the power of KNOWN
e where and how he kept the public money.
!. Mewa,k Advocate. 5l 5lsIyg sEl t.p.