Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1859-04-01

they have resolved to convert tie whole anou u
f eSlo6 ,2oo1 Of United States Bonds now in the
= possession into coin on the advertised terms {
e Secretary Guthrie, &c The letter inclosed th
g S1o6 200 q. S. Stoeks.) 1s -4
o He here proposes to violate the law cree
: ting the sinking fund, and sell seeuritis
s placed in his trust as Fund Commissone
e for the purchase of the State bonds of 1856
!, at proper time, to help pay $433, 1888 in
3 terest, when he had stated officially tn;
there was 1854, $50 in the treasury.
) Mr.. Atkinson knew something of th
hands into which the treasury had faleI
d, and expresses himself freely as follows:
| --s ATKINSON TO MORGAN. n1sF
Washington, Nov. 25. 1854.
Dear 4Sir.-Yours of 22d, inclosing u.
stock $1os, 200, to be presented to the Seeretar
of the Treasury for rcdempti on, was receive
this morning.
What is the difficulty with the Treasury? Ar
the funds locked up in Ohio or Indiana sus
pended banks, or what is the matters | see i
stated that draft for $50, 900 had been protest
ed, but understand that grew out of the bank
from whom the exchange was purchased having
failed to provide the means at New York c
meet it. After all, L fear the loudly boastec
"sGUiag ofexehange" by Mr.. Breslin, and which
was rung in our ears so often during the last
two winters, will prove u losing operation in the
end. / perceive the Statesman is out in favor
of an independent Treasury All well enough
a Wig Treasurer of State, there will be good
many Democrats who will be in favor of that
same, but who, under present circumstances, "
| could see ''no necessity for any CHANGE"
You may tetnember, after failing to get any
| action in the House upon the Treasury bill, we
stuck on the appropriation bill in tho Senate a
section covering the entire ground as to loaning
or depositing any of the monies in the Treasury
| but the House, in their wisdom, governed by
Messrs. Gest aud Mekenzic,1 struck it out, and
adhered to it, and at the last moment were com
PEELED to surrender, or adjourn without making
any appropriations. Then the Statesman Cor
rather Mr.. S. S. Cox could laud the Finance
Committee of the House, and declare that the
odious section only intended as 'spersonal
| fling at the Treasurer of State" Had that sec
tion been adopted, $4,000 of the Sta te's money
| appropriated for the Lunatic Asylum
would not have found its way into the Canal
Bank of Cleveland, and an INFINITE amount
scattered over the State, and perhaps some of it
out of it, making it necessary for the Sinking
Fund Commissioners to convert the u S. stocks
into money, out of abundant prudence to pro-
vide against contingencies growing out Of ''an
embarrassment which has overtakeA the Trea-
| sury," whereby there may be doubts of its abli-
ty pay half million of interest when there
ought to be at least million of money in it.
s.@1 ROBERT j. ATKINSON.
The report of the treasury commission
profoundly remarks: s-t
wherever an Independent Treasury law
of this State is unsustained or denounced, it
may be justly assumed that Influences are
at work which, if left untrammeled,3 would
again leadtoa another defalcation.' gss5as
Let this apply 10 those whom Mr.. Atkin-
son duplicates in defeating the sub~treasury
at time when SO many of the party knew
the urgent need of it, and because they
knew eBreslin could not pay the money in
his hanos. zsd a1 =s-.H g-af
Next we find letter from Edgerton to
Morgan, Dec. 4th, just after it had been Of
ficialiy reported that there was near six hum
dred thousand dollars in the treasury, and
when the treasurer had power to draw IN
the county treusurers tor half a million
more, as was the custom, announcing his
fears that the treasurer could not meet the
January interest; showing that draft drawn
by the Auditor on him Nov. 29th had not
been paid and that he was aware of the IL
legal means the Auditor had taken to cover
the deficit by selling the sinking fund stocks.
Could Engerton know So much and not be
aware of all the rest! We apply to him
and to Morgan the logic of their report:
.'H Mr.. Gibson was not cognizInt of Mr..
Breslin's illegal conduct while in office, and
connected with him in some form in his dep
relations upon the treasury, he has shown
himself by his neglect, to make even the
most ordinary prudential inquiries upon his
going into the Treasury. and ascertuining
that the amount appearing 10 be due from
Mr.. Bresiin, was not to be paid to him, TO be
utterly devoid of common sense, and total
ly unfit to occupy any position of responsi-
bility and trust.'
EDeERToN TO HoRToN.
State of Ohio, Transfer Ofice:l
New York, Dec f. 1854.
Hon. W. D. Morgan, Acting Com, &c.
Dear Sir:-1 deem it my duty to advise you
that have fears of the ability of the
Treasurer of State, to place the funds required
for the payment of the january interest on lie
Foreign public debt payable iii tlis city, III my
hands before the lst proximo u | am not adj
visepl of the precise form of your draft upon him
for that purpose, whether payable prcsenta-
ton or on the first of January next. Ii payable
on presentation, | ha :e right to inquire into
the probabilities of its payment; but ii payable
on the lst of January neither the Commission
efs or myself have any right to make inquiries
or examination on the subject, for the Trea
surer hns until that day to meet it, and
neither of us has ahy legal right to question Ills
ability.
In the usual course of business, the Treasurer
should remit funds to MO iii anticipation of the
draft and the day of payment, but up to this
iay he has not rerTttted one dollar toward the
into rest, neither has he any funds here te meet
the draft of $50 900 drawn on the 10th ult. for
investment as Sinking Fund. 1t may perhaps
be unjust toward the Treasurer to suspect his
ability meet these tlrufts in time to the
credit of tie State. hut under the present en-
5arrassed and exceedingly stringent condition
of monetary affairs. it may be prudent for the
n mi tn M
er to meet the interest. am aware that you
have already taken steps to syert such blow
to the credit of the State, by dispdsing of the
United States Stocks, an | | trust you will take
such further steps as will, beyond any contin
gcncy, place the necessary funds in my II lnds,
case of any default on the part of the Treas
arer. | think that hereafter, to enable this
Commissioners to know positively the condition
of the interest account, previous to the day of
payment, and to prevent any fears or ombar-
rasSlnents in relation to it, You should make
your acquisitions upon the Treasurer somc
months III advance of the tiulo the interest be-
comes due, payable O." presentation.
l should then open an account with the Trca-
surer of State, charging him with the amount
of the requisition, and crcditing him with such
remittances as he might mako on account .'f it.
a. p. EDGERT ON,
Transfer gent.
Next, we find letter from Attorney Cen
eral McCook, which shows that all the
State officers knew that Breslin had failed
to meet draft for $50 600 !; expressing ieaEs
that although he had half million nomin
ally in the treasury, he could not meet the
January interest, ard conserving that the
sipk hing fund should be diverted TO make up
his efalcation. ..-.......
ATTY GENERAL M'oooK TO AUDITOR MORGAN.
Steubenville, Dee. q, 1854.
Without signature, eXcept q monogram
ndorseI in Morgan's hand writing as from
George w. McCook, Atty Ceneral.l
Dear Sir:-I have letter this morning from
DIR. Il. (Trevitt) in Now York, which gives lise