Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1859-04-01
EDGERToN TO MORGAN.
State of Ohio Trasfer Office, !

Now York, Dec. 4, 1854.
Hon. W. D. Morgan, Acting CON-, dc.
Dear Sir:-1 deem it my duty to ad-
wise you that have some fears of the abili-
ty of the Treasurer of State, to place the
funds required for the payment of the Janu-
ary interest on the Foreign public debt pay
able in this city, in my hands before the lst
proximo." am not advised of the precise
form of your draft upon him for that Pur-
pose, whether payable on presentation or on
the first of January next. If payable on
presentation, have right to inquire into
the probabilities of its payment; but if pay
able on the lst of January, neither the COM
missioners or myself have any right to make
inquiries or examination on the subject, for
the Treasurer has until that day to meet it,
and neither of US has any legal right to
question his ability.
In the usual course of business the treas
urer should remit funds to me in anticipa-
ton of the draft and the day of payment,
but up to this day he has not RENTED one
dollar towards the interest, neither has he
any funds here to meet the draft of $50
600, drawn on the 2oth ult. for investment
as Sinking Fund. 1t may perhaps be un-
Just toward the Treasurer to suspect his
ability to meet these drafts in time to save
the credit of the State, but under the pres
ent embarrassed and exceedingly stringent
condition of monetary affairs it may be pru-
dent for the Commissioners to have the
means in their power to meet the interest.
am aware that YOU have already taken
steps to avert such blow to the credit of
the State, by disposng of the United States
Stocks, and trust you will take such fur
ther steps as will, beyond any contingency,
place the necessary funds in my hands, in
case of any default on the part of the Treas
urer. think that hereafter to enable the
Commissioners to know positively the con-
dition of the interest account, previous to
the day of payment, and to prevent any
} OBSERVATION-DISCLOSURES in relation to it,
you should make your acquisitions upon the
Treasurer some months in advance Of the
time the interest becomes due, payable on
presentation.
should then open an account with the
Treasurer of State, charging him with the
amount of the requisition, aud crediting him
with such remittances as he might make on
account of it. A. P. EDGERTON,
Transfer agent.
Next we find letter from Attorney Gen
eral McCook, which shows that all the State
officers knew that Breslin had failed to meet
a draft for $4,000; expressing fears that
although he had half million noninally
10 the treasury, he could not meet the Jan
uary interest, and consenting that the sink
ing fund should be diverted to make up his
defalcation.
ATTY GENERAL MoooK TO AUDITOR MORGAN.
Steubenville, Dec. 6, 1854.
(Without signature, except a monogram
indorsed in Morgan's handwriting as from
"Geo. w. McCook, Atty Generally
"Dsar Sir:-I have letter this morn
} ing from DR.. T. CTrovitD in New York,
which gives rise again to suspicious have
} expressed to you, but which were well nigh
dispelled when left Columbus.
He says, although trust you have al
ready seen him, that so far as he knows, b.
(Breslin) has not dollar in New York. T.
has Of course seen E. (Edgerton) and acord-
ing TO former custom, the latter would know
whether any funds were there. He says
also, that fears are entertained on the street,
that Ohio will not meet her interest These
apprehensions, we may suppose, have arisen
from the failure of B. to provide for his
: $4,000 draft, and that there is no other
reason for the fear. We Of course can
J judge as well IS they can
NoW I am ma Wi, knn,y ro.5r - l. -