Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-02-07
CLEVELAND MONDAY MORNING. FEBRUARY 7. 1859.
MORNING LEADER.
Remarks of MIR. Parsons, of Cuyaboga,


Remarks of Mr.. Parsons, of Cuyahosa,
In the House of Representatives., Feb. Isl, 1859,
on the Report Of tho Judiciary Committee,
asking to be discharged from the further con-
siderGtiOn of Mr.. Weleh's resolution, rslatire
to the Canal Bank Of ClevslaAd.
Mr. SPEAKER / trust, sir, that the House
will not discharge the Judiciary Committee
from the further consideration of this subject,
but will refer the matter back to them, with
instructions to report a bill providing for the
payment at once, by the State, of the outstand-
ing bills of the Canal Bank, and the redemp-
ton of the certificates of the Treasurer of State
given for the same. 1t is an act of justice that
is loudly called for by the people of the State,
and one they have the right to demand at our
hands. Sir, the bills of the Canal Bank, were
| taken by our citizens as money, because they
supposed the credit of the State was pledged for
| their redemption. They reposed with entire
confidence upon that belief, and now We are
called upon by every principle of equity and
fair dealing to redeem that faith
cannot believe there is gentleman upon
this floor but what would cheeTfully give his
vote for bill providing for the redemption of
these notes. The liability Of the State is up-
disputed fact that the bill never could have
obtained credit for moment with the commu-
nifty, had not the State been pledged to redeem
them, is equally admitted, and that by the neg
| lect, or default, or fraudulent conduct of the
sworn officers of the State, they have become
worthless; in the hands of innocent holders is
equally sdmitted-henceit seems to me that nc
man who loves iustice-who desires to main
tain untarnished the dignity and honor of Ohio,
can hesitate for a moment as to the clear line
of duty. Sir, insist that the State should re-
| deem these notes without delay. Men and wo-
men hold them at this moment who need the
bread that these notes ought to buy. Many of
them are suffering want and destitution-all Of
them are innocent of any wrong, and all Of
them cry out loudly for relief.
The history of the excess of circulation Of
| the Canal Bank of Cleveland notes, beyond the
amount of securities pledged for their redemp-
ton, is simply this, and will state it as briefly
as possible, in answer to the various inquiries
| this discussion has provoked. Mr.. Mcmillan,
who was at the time Cashier of the Akron Bank
| and understood to be interested in the Canal
1 Bank, called upon Mr.. BTeslin, then Treasurer
of State, and asked him if he had received from
Atwood d Co., of New York, fifty thousand
dollars worth of Ohio State Stocks on account
/ of the Canal Bank Mr.. Breslin replied in the
negative, and Mr.. Mcmillan requested him tc
make out for the Canal Bank quantity Of
| their bills for circulation, saying that wher
| the Stocks came he would take the bills t.
/ Cleveland Mr.. Breslin did so, and the mex
| day Mr.. Mcmillan called at the Treasurer's of
fee, and asked if the Stocks had arrived, anC
manifested considerable surprise when told tina
they had not.
At this time Mr.. Breslin had a package o
the bills of the Canal Bank ready for eircula
tion, amounting to Eighteen Thousand Dol
lars This package Mr.. Mcmillan prevailed
upon Breslin to deliver TO him, upon the assur
ance that the State Stocks to secure then
would certainly be on hand either that day o.
the next. Mr.. Mcmillan was a smooth tongued
oily gentIenan-of fine personal appearance,
la banker-a railroad director-and so re
spectacle generally that Mr.. Breslin could no
but trust him. Since that time, circumstance
have forced Mr.. Mcmillan to leave his coun
try for his country's good;" and Ohio mourn
the loss of 80 eminent patriot and so useful
citizen.
wbd MI to6F gFsn ghs dSEEfgs tS Bf ERt RR
to Mr.. Severance, the Cashier Of the Cana
Bank. The notes were taken by Severance an
deposited to his credit on the books of the Bank
| and speedily found their way into circula
ton. Mr.. Severance afterward transferred tn
bills to the credit of Mr. /. L. Hewitt, tn
President of the Bank, and when the Ban
failed, he was a creditor of the Bank
the amount of this Eighteen thousand dollar'
which had been thus wrongfully taken froI
the State--and for which the State neve
received an iota of security; for it is needles
. 10 add that the State never received one dolla
of the stocks as security mentioned by McMi
Ian. The whole of McMillan's statement wa
a pure fiction, or If not, the stocks were detair
ed on their way to the Treasurer, and neve
= reached the vaults of the Treasury Department
} Thus was the fraud perpetrated upon the pei
/. | pie the State, and in this way did this uns
| cured Canal Bank money find its way into CT
! cnlation.
In answer to the inquiry of the gentlema
= | from Logan, would say that Mr. Severance
r wholly irresponsible, but Mr.. Hewitt is ma
e of wealth, and that suit is now pending
, Cleveland, instituted by Mr.. Armstrong, the r
4 Ieeiver of the Bank, against Mr.. Hewitt to 7
q cover back this S1S, 600 of which the State W
: defrauded.
9 Throwing out of the case all questions as
], the responsibility of Messrs. Hewitt and SeVe
q ance-throwing aside all questions as to the
e conduct for which offer no apology, 1t will
e seen that had not Mr.. Breslin clearly tran
Il eressed the line of his duty in delivering Il
j Canal notes to Mcmillan before he received Il
: requisite security, no difficulty would have o
Cured, and the people Of the State would ha
&C been saved the losses they were compelled
r bear, by reason of his gross misconduct ma
ID no charges against Mr.. Breslin- He undoul
s. edly placed full confidence in Mr.. McMilla
~ and felt assured that the stocks would certain
4 come to hand. But it will not excuse hun
y moment-he clearly deYiated from the path
lduty, and thus from that deviation, has sris
all this difficulty.
Z The simple question for US to OIanswer in VII
N of these facts lis, that the innocent holder
OF these bills suffer because of the wrongful act
be the sworn agent ofthe Stated The State isi
le, ed these bills-the State gave them credit
10 STATE indorsed them, and the people took the
Of knowing that the State was responsible
- their redemption. So-with the Seneca cour
Bank bills They should be redeemed, and
ne deemed at once. The dignity Of the State
IT. quires it. Good faith and good conscience
as duire it. Shelter the State behind its SOW
,s- eignty-to say it cannot be sued, and theref'
ell cannot be made to pay its honest debts, is 81
or ply to commit, in my judgment, an outrage I
- on the rights of the people. Hence my bel
,t0 that bill providing for the redemption of tn
notes would meet with universal approval a
Is command the vote Of every man on this hool
Legislative Summary.
" IT, Ga1afa o.crr;a1 {ba x.-holo dav IN