True American. [volume] (Steubenville [Ohio]) 1855-1861, 1857-09-30

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nanciering--Making Deposits in
Bank after it's known to have Failed,
Read! Read!
The last and most desperate dodge of
the bred Scott sham Democracy to prop
their totering fortunes, was the produc-
ton of private note written by Govern
nor Chase to John G. Bresln, which
they ailege induced Breslin to select the
City Bank of Cincinnati as a place of de-
post and safe keeping of the Public
Money. Breslin himself NEVER ALLEGED
SUCH CAUSE, and no man Of sense ever be-
lieved or could believe that the letter Of
Gov. Chase induced Mr.. Breslin thus to
act. AT the time the letter was written,
the Bank was in good standing. II was
written in December 81. No public de-
post was made in that Bank until the
spring of 1852. Breslin, in his annual
reportof December 9th, 1855, says he
selected "the Commercial Bank at Toll
edo, and the City Bank Of Cincinnati as
repositories for the Canal Tolls, IN PUR-
sUANcE OF THE ACT PASSED MARCH 23d,
1910. He says further, "At the opening
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
cinnat. AT various times deposits were
made in this Bank by the Treasurer 10
procure exchange for the payment of in
terest and redemption Of bonds. In De-
cember, 1854, (hree years after Chase's
letter was written, remember, this Bank
failed to meet the drafts given fhe Treas
urer for the amount of S79,s1l95."-
Here, then, we have the official statement
of Mr.. Breslin that he selected the City
Bank in pursuance of law of 1910, and
not because of the private note of Gov
ernor Chase, as the Locofoco desperadOes
now allege.
By the deposition Of S. Robert, Presi-
dent of this City Bank of Cincinnati,
which is printed in the appendix to the
Senate journal for 1857. page 4l3. it ap
pears that the Bank failed to meet the
drafts of the Treasurer in August, 1853,
amounting to s76,sll.95, and that these
drafts were renewed again and fell due
in December, 1854, and were again pro-
tested and not paid, as Bresin acknowl-
edges in his report Of 1855, quoted above.
1t is clear, that this Bank actually failed
in August, 1853, and notwilhs.anngd
the large amount of public money there
in deposited, the drafts Of the State drawn
upon it were protested and the State dis
honored. What will be said by the tax
payers Of Ohio when they are told that
this Bank was continued by the Locofoco
State Treasurer 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
lst, 1856, says that the State drafts of
this City Bank were protested and nom
paid "prior to Or in August, 1852
The concern finally shut up and ceased
operations as bank some time in the
spring of 1854. Though it was known
TO the State Treasurer, and doubtless to
Morgan, Medll & Co., as early as August
1853, when the State drafts amounting
10 seventy-nine thousand dollars and over
were protested for non-payment, gel
Breslin kept on depositing there up to
July Sd, 1855, and from May 3Oth,
1854 to July Sd, 1855, he actually de.
posted in that Bank the enormous sum O
$75,369.9O.
1t is only necessary..to add to this cat
alogue of crime that the private deposi
tors haze all been paid By the bank, bu
not one cent of the States deposits hav
been repaid. and it is fair 10 presume tha
while Mr.. Breslin was making his depos
its there, the money was used 10 pay
private depositors, and keep up othe
financial arrangements. We hear o
some other curious matters connected will
these operations: Of certain pfoperlie
being held in trust, which we shall no
now particularise, lest it should preven
or head an investigation which may nov
or hereafter be instituted by the State
The above record is enough of itself t
show how the peoples money was squar
dered and suggests reason why certai
Locofoco leaders desire to raise false is
sues. and throw the weight of their ow
crimes upon innocent men.
"There's good time coming boys, wait lii
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