The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-06-04
ASTOUNDING DEVELOPMENTS!
AN OUTRAGEOUS SwINDLE!!

Detacation Of the Secretary Of !Sate-Thity 4ho"s-
and Dollars Of the Public Moneys Missing-Bo"d8
Of the Exchange Bank not to be foand-Coyess'o"
Of Comptroller LuttrePs Clerk.
From the Nashville Union and An'ericanl
The investigation now being made by the COM
mttee appointed by the late Legislature, relative
to the affairs of the Comptroller ana secretary oil
cality unprecedented in the history OF our State
We should not feet at liberty to speak of this mat
ter until the committee had made their report, II 1t
was not generally understood and fully canVasseu
on the streets
The Secretary of States office shows defaca-
ton on the part of that officer to an amount exceed
ing $50, 0OO-money paid to him as Internal Inn
provement Commissioner, by the different Turnpike
Companies
The largest amount of stealing has been in con-
nection with the bonds belonging to the Exchange
Bank of Murfreesboro, which said to fall S123,-
900 short of the amount of its circulation. That
bank has not single bond on deposit, and
those who hold its notes have not the value of one
cent representing them. If they redeemed
it must be by the State. The mystery of this
last swndle is still unrevealed. In order to guard
against such state of affairs this, the Leg
stature of lS55-'56 passed act to regulate the
the business of banking, embracing the following
sections:
SEC II. Be it further enacted, That the bonds re-
CURED to be deposited with the Comptroller by vir
tue of this act and the act which this is intended to
amend, shall be placed IN the Bank Of Tennessee and
person, bank association until this IS first done.
SEC. 15 Be 1t further enacted, That the bonds so
deposited shall be subject to the order of the Comp
trollcr. only for the purpose of carrying into effect this
act and the act ,rhich this as intended to amend.
The spirit and intent of this act have not been OBJ
served by the Bank of Tennessee or recent Comp
troller. The Comptroller has been permitted by
the Bank to keep box in its vaults containing the
bonds of the various free banks but the Cashier of
the Bank says that he took further control over
them than this, and made minute of the amount
numbers, or anything of the kind, and required no
receipt from the Comptroller when taken off, but
crmtted him and his clerk to have free access to
them at all times and for all purposes. There has
certainly been very great neglect the part of the
Comptroller and Cashier to say the least of it. The
question now occurs, who got the bonds?
The bank does not believe that they were ever
deposited The former Comptroller Mr. Luttrell
to know very little about it, having left the
control of his Office under almost the exclusive con-
troll of his clerk, young Mosby Mr.. Spence, the
President of the Exchange Bank, insists that the
bonds paid over by him, but there having been
some very improper conduct between Mr.. s. and
the Comptroller, he has been subjected to the sus-
picion in the minds of many, of having obtained
his circulation without the proper amount of bonds
We shall not pretend, at present, to express an
opinion between the parties. 1t lies between the
Exchange Bank, the Comptroller, and the Bank of
Tennessee.
Young Mosby, the clerk under Mr.. Luttrell. con-
fesses to having taken out of the bank and appro-
priating to his use, of the bonds belong
ing to two other banks We have no idea that this
is all the rascaty that has been committed but the
committee may not be able to ferret it out
We think it due to Mr.. Luttrel to say that public
opinion inclines to relieve him of any dishonesty
and to censure him for nsulfciency and general
neglect of business, only.