The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1859-04-06

money, aolten at the same timc he kueso st aras
rotten to the core. = "a,
Here is the proof-I call the attention Of
the House first to the following letter-of Gov
ernor Chase to Mr.. Breslin:
ePRIvArE." CINc1NNATI, Dec 80, 1851.
| 'MY DEAR S1R:-I enclose MIR. Heaton's letter,
which speaks for itself take it for granted, that
SO the Treasury makes deposits in CINCINNATI
they will not be continued with the Trust Company.
The City Bank is have no doubt, safe institution
and is managed by excellent and liberal men. I
| speak the more impartially, as never borrowed
dollar from them.
Ip-e ume that your arrangements as to depes.ting
here, already made. If not, though am bound
| in justice to sey what l have for the City Bank
should feel still more bound to ask your favorable
notice of the Mechanics and Traders Bank, with
which do allmy business. but in which / have
no interest as stcckholder or otherwise.
Yours truly, t S. p CHASE.
"P. 81 suppose it rather too late to congratulate
you your election which, nevertheless, do most
cordially, did also what lay in my power to se-
cure it. May your important duties be Faithfully
and ably discharged 10 justify The confidence Of
your friends, and add to theirs that of the whole
people," s
Who was Mr. Heaton, whose letter was en-
| closed with Gov. Chases? He was the Cash
Ter Of the City Bank of Cincinnati, aboli-
ZIONIST after the approved Chase model, and
one of his particular and political friends.
Now, to prove that Gov. Chase at the time
he wrote that letter kne,c that the City Bank
was not safe place of deposit for the public
funds, i call the attention of the House to no
democratic libels.", Sir, quote from the Re-
publican report of r. W. Taylor, B. f, Smith
and John A. Sinnett, page $50, Appendix to
Senate Journal for 1857. The COMMITTEES
there say:
The City ank ofCincinhati was organized in May,
1s45, by five persons, the principal of whom was .
broker; subsequently sold to citizen of Gincin-
| alta and o New York broker, and was again sold
in 1850; having thus in five years three sets of
ers. With this history, necessarily public, sound
institution and public credit could not be hoped for
Now, sir, Gov. Chase was, at the time ne
wrote his letter to Breslin, resident of Cincin-
natl. He knew the necessarily public" history
of this bank; and this Committee of bis friends
say that that history was such that sound in
stitution and public credit eould'pot be hoped
| for. s-gt - sa8 81
| But this is not all. The Committee proceed:
Mr.. Robert, the President ofthe bank, in his
| examination by Mr.. Reemelin in 1854 states that
the Bank .'never declared but dividend, towit:
on May =, 1896" A fact like this could not have
escaped public notice among bushes mon in Cincin-
natl and rus have been fatal to the credit of the
| Bank.
| Did Gov. Chase, when he wrote his letter to
Breslin, believe a bank which had not then de-
clared a dividend for FIVE years and siz months
to he a safe institution? His Committee of
| friends think otherwise, and so would any man
| of sense.
| But hear the Committee again:
"Fro1n the statement of its assets and otherwise
in Mr. Johnson's report of April, 1882 the bank
| appears 10 have hecn then in rotten condition;
| condition that could not have been unknown to the
business of Cincinnati and could. not have
escaped the observation of person of ordinary
intelligence, scck:r5 a safe depository of large
amounts of money sg e.,
Mr.. Johnson's report was made but three
months after the date of Gov. Chase's letter.
No Republican upon this floor viii deny that
! Gov. Chase is a man of Ordinary intelligence
! That fact admitted they are driven to the con-
clusion, that when Bresln took upon himself
the duties of his Office, Gov Chase acted as
the stool pigeon for rotten bank to decoy
| into its Golfers the money of the State, well
knowing at the time that the bank was rotten
to the core. s ss. deaS re
Now, sir, ask you who was particcps erixst-
| ms in the robbery of the Treasury? s