Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-12-22

their calculation OF the annual interest Que Is
incorrect. Then of what value / ask is the
Report of the Committee? Incorrect in their
statement of excess of interest paid, incorrect
as to the debt of the State. and incorrect as
to the annual interest due from the State,
there was but one other matter. aside from the
Burton fraud. in which the public felt much
concern allude to the failure of the Ex-
change Bank. And what light has this
Committee thrown upon this matterf a can
did public willsay, none! The whole Report
may be considered "a comedy of errors" a
"series of blunders.r
1t may not be improper, however, in me
here TO add a few words more in regard to
the failure of the Exchange Bank, as a large
portion of the Report is taken up with this
matter. Upon going into Office, found the
Bonds belonging TO the different Free Banks.
in the vault of the Bank of Tennessee. They
had been placed there by the former officer,
and very properly too.for safe keeping, as
they could not have been kept with any sort
of safety in the Office. l at once asked the
Legislature, then in session, to pass an Act
requiring them to be deposited in the Bank
of Tennessee-this was done. and at my in
stance-my object being to rid myself of so
heavy responsibility. Upon the passage of
the Act. the Bonds were Immediately turned
over to the Bank. in accordance with it, and
was done prior to my entering upon my re-
gular term of Office, March lst, 1856. The
Bank of Tennessee then. being made the pro-
per custodian of the Bonds by law, no re-
sponslbilty whatever, so far as the custody
or safe keeping of them were concerned, de-
vOlved upon me. In this respect / had no
control over them, and could not have had
access even TO them, except by permission of
the Bank officers. Then if any of the Bonds
belonging to the Exchange Bank are missing
as 1t is alleged. am in no way responsible
for them. And also assert, as i have here
tofOre asserted, that every dollar of circula-
ton cOuntersig ned by me for the Exchange
Bank, and all the other Free Banks of the
State, was based upon deposit of Bonds. or
return of mutilated circulation which was
burned.
When was elected to the Office of Comp
troller it was my misfortune, not my fault,
TO continue Mr.. Mosby as Clerk. bad no
personal acquaintance with him until went
to Nashville to enter upon the duties of the
office. He had been in the Offices about
two years, was highly recommended
to ame by all the State Officers at the
Capitol, by many good citizens of Nashville.
had been endorsed and warmly supported 10y
largo number of the members CT -rk OF
the House of Representative s. had so far as
could learn. the confidence of all who knew
bim-I did just rs any other man would have
done under the same circumstances, retained
him on account of his general knowledge of
the business in the office. l was compelled
from the heavy duties to perform i'll the
Office to trust a good deal of business to
him, which he in some instances neglected to
attend TO properly. When the failure of the
Exchange Bank was first made known to the
public, Mr.. Morton, Cashier of the Bank of
Tennessee, seemed very much concerned for
his conduct. and in order to relieve himself
made statements before the Committee that
were disproved by Gov. Campbell, Mr..
Minor. c. W. jackson, Esq, Col. Molly and
others.-By what sort of legerd rmaln he
afterwards became the pet of the Committee
may yet be discovered when an impartial
tribunal shall have the whole matter under
investigation,
I might here close this reply. having shown
clearly. as | think, that the report of the
Committee is not reliable but it has given
rise to some articles in the Nashville Banner,
which it is proper l should notice. Before
proceeding. it is proper for me to say in JUS
tice to the Editor, that have known him too
long and too well to believe for a moment
that he would do me, or any one else, inten-
tiOnal injustice. The Banner refers to the
testimony of Z. VI. Reynolds ana DR.. Foster
in regard to a money transaction | had with
Mr.. Spence. 1 did borrow from Mr.. Spence
fifteen hundred Dollars. $500 at one time and
and to which they were applied, the first to
pay the expenses of son at College, the
other TO make payment upon house and
lot had purchased for my family in Knox
vile. Both of these amounts were fully
paid. and before | retired from office, this
Mr.. Spence testified 10 before the Committee.
This was strictly private business translc-
ton, had no connection whatever with the
COmpt:oller's Office, and was brought before
the Committee by some malicious person, l
know not who, for the purpose of injuring
me. This is the only transaction of the kind
ever had with Mr.. Spence. this he proved as
well as that the money was paid back as be-
fore stated. But the Committee ask Mr..
Spence l. he did not know | was in embar-
raised circumstances. And Mr.. Reynolds
and DIR. Foster are called before them to prove
that | had stated that he had presented me
with the money. The Banner states that
when / was Intercepted the next day in re-
gard to the matter that did not know that
Reynolds and Foster had been before the Com
mittee.-This is mistake, the Banner was
misiniormed, did know it, and in substance
what they had stated. III had not known
it, see nothing strange about it. If the
Committee in this case saw proper to assume
the character Of a deeciue police it was not the
first time After Moshy's arrest at New Or
leans and brought back. he was examined by
the Committee with closed doors. no one be-
ing permitted to be present except his Coun-
sci and the Officer who had brought him
back. Mr.. Morton was also up before the
Committee testifying and explaining and did
not know it. If when the Committee saw
proper when assuming the character men
toned, to put certain witnesses UNDER THE
RULE, or subject them to privy examination
with the hope that they could be coaxed or
frightened to tell something they would not
do If parties had been present to crosS-eX-
anime, leave the public. without any eN-
preston of my own, 10 judge of their mo-
tives.
1t was also proven before the Committee
that Mr.. Spence had also loaned money to Mr..
Morton when he knew he was in embarrassed
circumstances, perhaps insolvent, that Mr.
Morton had requested him 10 loan money 10
his son-in-law. which was done, and without
security. Was this | ask. mystery? 1t
was all right If Mr.. Spence or any body else
choose to do so. Mr.. Morton. however. had
more to do with the Bonds than | had. As
Cashier of the Bank of Tennessee he was the
custodian. the keeper of the Bonds of the Ex
change Bank, a. well all the Free Banks of
the State | had not access TO the Bonds eS
cept by the permission of the Bank Officers.
He knew of the missing Bonds before did,
had not the slightest intimation that any
were missing for more than two months after
| had retired from Office. The Bank Of Ten-
nessee still continued To take the notes OF the
Exchange Bank after ii was known there that
the Bosds were gone that its circulation was
greater than the amount of Bonds on deposit,
said nothing about IL until il became public.
This has to me a myst erious appearance and
must leave il at PRESENT. for the puble-to I'M
fold. / have alluded to this now, otherwise
would not have done so, would have waited
until brought before the impartial Courts of
the country, but from the fact that have un-
deniable proof, that a. soon as these matters
became a little public. Mr.. Morton was throw
ing out insinuations, talking Of my intimacy
with Mr.. Spence, Of my frequent visits 10
Murfreesboro' when in truth. except in pass
ing by on the railroad, have not seen or
been in Murfressboro' but once in the last
twenty years. The public win pardon me for
making the aliusion now, deerned il proper
to say what | have-cOuld say more if neces-