M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1859-09-29
Financiering without an Ipde-
pendent Treasury Law-The Beauties
OfDennisOn's Old system, o.

pOSuIeb Ol HduuS, IOODtrleS ana losses 10 the
State, under the old system, to prevent which
the Treasury Law was passed, sill insist be-
fore the people on return to the old law
and practice.
We give below some Of the facts, showing
the utter inefhciency Of all former legsla-
tion in protecting the Treasury.
Dennison argues that the Kelly law, re-
curing banks TO give ample bonds TO secure
loans 10 them from he State Treasury, was
agood enough law, and answered all purPo
ses. What does he think Of the loan to the
Columbus Insur snCe Company, ten years
ago, of 100000, not dollar Of which has
as vel found ils way back into the Treasury
although the compOny gave as securities
Drake, Butiles, and five other wealthy Citi-
zens OF Ohio
LET THE PEOPLE REMEMBER That
in the absence Of an Independent Treasury
Law, in December. lS49, te old Wing Fund
Commissioners, Bliss, SILL and WooDs,
LOANED TO THE COLUMBUS INSURANCE COM
PAEY 100000, taking bond and security
therefor, and hGt not one cent Thereof has
eper been paid, or IN all probability ersr will
be.
BE 1T KNOWN ALSO,
That this same man Bliss left The office Of
Treasurer Of State in 1852, WITH AN Ac.
KEowLEDGED DEFALcATloN OF $65, 1000 and
an ADDITIONAL DEFALcATIoN SINCE DISCOVER
LpoP so6,69t,73. That in the absence Of
the Sub. Treasury LdlU this heauy ddatca-
tion t0oS kept uHknOgn 10 the taxpayers Of
the StGfe for yrarS, BEING sEDULoUsLY CON-
cEALTp BY DESNl SON, TIE BLACK REPUBLI-
CAN CANDIDATE FOR GOVERNOR, and the
BANKING Interests of Columbus. 1rho Tere in
the secret DcnniSon hneic y this detOlca-
fiOn, as proren before the Investigating
Committee in 1852.
REMEMBER, ALSO,
That Breslin had not Yet taken possession of
the Office of Treasurer when he luGs solicited
by Governor Chase to make deposits in the
Ciiy Bank of Cincinnati. tohiCh neuer could
SaUe bten done Under the IEdtptndtnt Treas
Hry LatD, and that By has deposits NTH this
net bank of Gop. Chase the State lost &c.,
Sll 65. Read ChuSeI letter to Brtslin be-
lolp:
"PRrArE.l
"CRcIYKATI. DEC. 80, 1851,
"MY DEAR S:R: inclose Mr.. Heaton's
letter, which speaks for ITSELF | .ake it for
granted, that SO lar as the Treasury makes
deposits in Cincinnati they will not be con-
iinued with the Trust Company. The City
Bank is, have no doubt, safe institution,
and is managed by excellent and liberal men,
speak the more impartally, as lnever bor-
Towed dollar from them.
Al 1hat IN
depositing here are already made. If not,
though am bound in justice to say what !
have for the City Bank, should feel still
more bound TO ask your favorable notice of
The Mechanics and Traders Bank. with
which | do all my own business, but in
which ] have no interest as stockholder or
otherwise.
IS. P. CHASE.
@"P. ST. suppose il is rather too late to
congratulate you on your election. which,
nevertheless, do most cordially, as | did
also what lay in my power to secuTeit, May
your important duties be go ably and faithful
iy discharged as to justify the confidence Of
your friends and that Of The whole people. -
DO NOT FORGET
That in the absence Of an Independent Treas
urJ Law BreSlin pds ulSo induced TO make
5eposits triih other mOneyed corporations, re-
sulting in loss to the State of orer $780,,
900.
BEARIN MIND!
That SILL THE WIG FUND COMMISSION
ER LOANED NEARLY TEN YEARS AGO TO THE
AKRON BRANCH RAIL ROAD COMPANY S42,
500, NOW LOST TO THE STATE, which an IN
dependent Treasury LaW WOuld hare Sared.
Remember, Also,
That, pursuing the same system, in the
absence Of Sub. Treasury Law, Gibson
loaned 10 the Lewistotpn RESERVOIR Co.,
KimbaH d. Co., and others, and inresttd in
Indiana Banks and Railroad Companies
over 100000 Of The peoples money; nearly
all of which get remains unpaid. -
And particularly Remember
That GIBSON, uncontrolled by an Inde-
PENDENT Treasury Lap, PURLoINED THE
STATE STOCKS deposited in his CJfcc 10 secure
the circulation of the Seneca County Bank,
10 the amonnt Of Sl35OOO, and pledged them
in NeD York, RAISING MONEY ON THEM,
WHICH HAS BEEN UEACCoUYEED FOR; THUS
RENDERING THE BILLS OF THE SENECA CoUN-
TY BAYK, IN THE HANDS OF THE PEOPLE or
ONO, WORTHLESS OF nearly so.
And do not Forget,
That BAKER, the Black Republican
Secretary of State, as one Of the Fund Com
rissioners, rcceiUtd as the rtrdrd of his
faithlessness for the corrupt negotiation Of
the loan oflS56, the paltry sum Of $4,000
Which bribc threw the loan of 50 400 600
into irresponsible hands aud made Ohio
Stock fall from lO9 to lO34, difference Of
81, and causing loss Of s 80 900.
ALL is NOT YET TOLD, but enough to
chow the people of Ohio, the inexcusable
folly, or iUOrSc fault oi the candidate for
Governor, lDho argues the SOlrency Of a Sys-
tenn, which has thus occdSioned loss TO the
State, estimated By hundreds Of thousands Of
dollars.
REHABILITATION.
Loss by loan in l649to Co. ...
lumbus lns. Co, 100000 90
Breslin & Gibson's loans
and deposits with Banks, 493 .5Sl 90
Embezzlemen, BY Gibson
Of Seneca Co. Bank State
Stocks, $4,000 90
Baker g. Wrights negotia-
tion Of the loan of 1855, l32 900
Total S660.5sl co
These, Voters Of Ohio, are facts and fig.
ures in favor of an independent Treasury
system, against the special pleading Of Den
nison, the Bank lawyer.
How will YOU record your verdict -FoR
RAMSEY AND THE INDEPENDENT Treasury