The Portage County Democrat. [volume] (Ravenna, Ohio) 1854-1868, 1859-03-30

be rezaembered let BreAa he "a the Treasury
mpsfhs without having gwen legal hond
zad ii,fhat report covered up this mars of
corruption, this meassroas theft, thus:
Extract from tie Semi .4nnuai Reporf of The
ComM'ssisaers. Of The Siakiag Fsmd 70 the
Goce,~or Of Ohio
o'' 1smSn. 2, Sssa.t1 OF $ sassg
Hos- WA. MEBILL, GocerHos Of Ohio.
7. Sir: At the nsual time
for making provision for meeting the Semi
Annual interest due on the first day of jam
ry on the foreieR debt of Ohio the condition
of the munes Inarket throughout the countr
was land yet isl erceedmgiy unsettled An
amidst The general iesnl ION which seemed
everywhere TO prs vail seUerai Of the Banking g
Institutions Of Ohio had already SINK in:..
hopeless ia ksuj'tcy. For these and Other
reasons { } the Commissioners deem it iner-
prdiene an, unsafe 10 instruct the State TIE
nter 20 exrha, ge The interest money IN hrs
possessions for time 5iks on New York. as ha''
been customary Instead. therefore Of issnine
their Usual requisition, iheV made their order
on me State Auditor for his draft on the
Treasure for par fnnds pavahle directly TO the
State Agent. II III
month of November last, 1t scas deemed bes'
in the Judgment # the Commissioners 20 su
render eirhout further delay, the bonds of The
q tied S'afes. purchased in August and Sep
fember 1883 a temporary investment of the
Ohio Sinking Fund, and 10 apply the proceeds
. thereof as early as practicable to the purchase
of Ohio Stocks. sf--
That was the way the January Cape in 81
was doubled. now let us see how Morgan ant
Edgerton got around the JuiyC ofthe same
year. In June. Treasurer Bfestih informed
Auditor Morgan that he. BresliH, could 10
meef the July interest.
When; Treasurer Gibson in 81. Informed
Auditor Wright of a similar state Of fac's
says the Cleveland Herald Gov. Chase stalk
ed into the Treasury. demanded of Gibson th,
keys, an never left the Treasury uniila faith
ful man was put in charge, aud as quick a
the wires could convey the information, tn
people of Ohio were told that q great frau'
had been detected. and the uufsitlfni servant
had been driven from the State House.
But Audi,er Morgan and Gov MediIl di
no such hing, but Morgan and Edgerton agai
.racked their ingenuity to cover up this star,
ling fact. 7-=,.-.
MORGAN TO EDGERToN, r
Enclosing 8 U. ). Treasury warrants for $67
900 and orders to asr $50 900 on hard 10
investment IN Ohio Stock including $44 00
Astor Bonds.
Office of Commissioner of Sinking Fund.
Columbus 0hin 2T
Hon. A. P EpGsRToN,
Ohio Transfer .4gent:Nsw York
Dear Sir:
My mo,ive in placing this amount in you
hands Immediately, is to provide against
{ failare on the part of the Treasurer of Stat
to place in New York the fI amount, of tn
draft for July interest. On last evening.
was waited on by Mr.. Bresin, and notified O
his inability to meet the interest in full b
proper time. He assured ue however, tha
the deficit would not excred, at the utmost
one hundred thousand dollars, and that tn,
sum- if loaned in New York by the Commis
sioners.shoald be paid in full within thirty days
VIM. D. MORGAN.
Acting Commissioner of Sinking Fund
P. S. Mr.. Bre-lin assures me. as alread
stated, that the deficit will in no contingency
exceed one hundred thousand dollars. Shoul
this reasonable anticipation prove isllacious
and there be an actual deficit greater than, tn
surplus redemption fand in QUE hanes tn
bonds purchased from Mr. Astor $40 600
= might be used as an hypothecation for aiui
tional funds.
But Edgerton sees rock that Mesgan doe
not see. or Morgan, perhaps, thinks it has wa
ter enough over it to get the ship over in safet,
Edgerton writes: F4
EBGRToN TO MORGAN
STATE OF OHIO. iRASsFER OFFICE,
New \ ork June 80, 1855
:, Hon. w, ID. MORGAN. Acting Commissioner
SIR:-YOurs ot the 27iil Of ulle, with tn
Enclosures, was received this morning
L learn with much regret by your letter of th
inatilits of the Treasurer of State 10 plac,
the amount necessary for the payment of TN
interest on the Public Debt due on the lst O
July, in my hands on that day. am fearfuliEi
embarrassment is not tempo ary.
There is standing TO the credit of the Siukin!
Funa $l93 892 l8, so that there is already il
my hands sufficient amountfo the interest du
on the Is, of July. | am pleased to know tina
The means are thus al hand; am convinced b.
the present. embarrassments of the Treasure
that there is no safety in tampering with a pub
lie or a trust fund. On rtfectiou
you will PEI ceive that your suggestion of rais
ing any netcit there might be in the interes
fund by an htlothecaiion of the stock
bought of MIR Astor, could not be carried ou
because those stocks haze no longer any ca
isfeace. The certificates arc cancelled on bein,
surrendered, under your Instructions to lhe
efsci, and cannot be again re- issued to an
one. So with the stock of 1860 purchased an
cancelled it cannot in case OF an euergeBcy.b
re- issued or hypothecated, as it has no longe
any existence
A P. EDGERTON, Tr. Agent.
So the interest in July is paid out OF tt
Sinking Fund bg Edgerton. and that cape
doubled. On July 18 Edgerton renders h
account with the Treasurer, and shows thi
of the inteTestso advanced by him Treasure
Bre>lii has made sundry remi tances, leaving
however.a deficiency of S97 $50 So. July 3l'
Morgan wrote to EdgertGn as foIlows:-'T'l
SAFE Treasurer. no, fas me that be is pr.
pared to make mp S62 900 of the deficit :
.ss0n the 8:h of August the Treasurer, as show
bp another account rendered by + gerton,
behind hand sill $50 554 On Aug Sd Mo
gan, as one of The State Fui d Commissioner
writes 10 Attorney Gene, al McCnok. anoihe
8 Commissioner. that Bresin is-siill in arrear
and says. This is indeed lamentahle. hu;
fear the worst is to Gomez To this McCook IT
plies. Aug. Oh. that he exceedingly regre
that Mr. Bresiu has not paid he amount al
vanced' &C.. &c, adding We can, of cnurs
Z place no rella,.ce on the Treasurer of Stat
after what has recently occurred
The 70 egoing cleafls discloses the fact tia
Edgerton. Morgan. M'Gook and Others, we
knew of the defalcation of Breslin and I'll