Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1859-03-29

[ he letter lncIoSeu tne - lOo 1SOO u .
Stocks.0
Mr.. ATKINSON, in his reply 10 this let
ter, three days later, very pertinently
gays:
"What is the difficulty With the Treas
u,y? Are the funds Looked up in Ohio or
Indiana suspended banks, or what is the
matter? see it stated that a draft for
$4,000 had been protested, but under
stand that grew out Of a bank from whom
the exchange was purchased, having failed
to provide the means at New York to meet
it. After all, fear the loudly boasted
'sdving of exchange by Mr.. Breslin, and
which was rung in our ears so often
during the two last winters, will prove a
losing operation in the end. l perceive
the salesman is out in favor of an 'ln-
dependent Treasury All well enough,
as have heard you say; doubtless, when
we get Whig Treasurer of State. there
will be good many Democrats who will
be in favor of that same. but who, under
present circumstance could see mo
necessity for any change.
The following extracts from letter Of
Edgerton, written week or two after,
show that he also we'll understood that
there was no such amount of money in the
Treasury as the accounts showed there
ought to be, and as the sworn official,
Morgan, declared there a0as.:
STATE OF ONO, TRANsKER OFFIcE,l
New YoRR, Dec. 4, 1854.
Hon. w. ID. Morgan, Acting Com, DC:
Dear Sir:-I deem it my duty to advise
you that have some fears of the Treas
urer of State, to place the funds required
for the payment of the January interest on
the Foreign public debt payable in this
city. in my hands before the first proximo.
4 :" 1t may perhaps be unjust toward
the Treasurer to suspect his ability to meet
these dratts in time 10 save the credit OF
the State, but under the present ena6sr-
rassed and exceedingly stringent condition
Of monetary affairs, it may be prudent
for the commissioners 10 have the means in
their power to meet the interest. l am
aware that you have already taken steps to
avert such blow to the credit of the
State, by disposing of the United States
Stocks. and l trust you will take such
further steps as will, beyond any contin-
gency, place the necessary funds in my
hands, in case of any default on the part
of the Treasurer.
1t is very natural to inquire what the
exceedingly stringen: condition of none
tary affairs" had to do with the case, if the
required amount of money, and much
more, was already actually in the Treas
ury, as Morgan had just declared. Bu
Edgerton, no less than that worthy, mani
festly knew the money was not there, as
stated. Both bestirred themselves tc
shield Breslin from exposure, and moi
merely resorted, for this purpose, to ths
last shifts of fnanceering. but actually
violated the law by which the sinking fund
was created, to carry out this object
What they did to meet the interest due OF
the lst of January, 1855, was substan.
TALLY repealed in the following July, A
the close of the fiscal year again, Morgan
stated that there. was a balance in thu
Treasury of S7O3, $40, (as there shoult
have been, and as no taxes Were paid int,
the Treasury from June to November, h
knew. while making his anxious arrange
ments for the July interest, that ther
ought to be over ST. 100000 actually i
the Treasurer's hands at that time. Blu
instead ofpromptly demanding an expa
nation why the money was not Forthcoming
!, he still aided to cover up the defalca.ior
and proceeded to hypothecate securi:ie
which he held IN trust. The benevoeu
zeal of Morgan and Edgerton in behalc {
Breslin is conspicuous all along, and on
, of the most remarkable features of tn
whole business.
In letter written in June. 1856, MOI
gan reveals, in so many words, his know
, edge that there was heavy deficit, All
= that, too, fully two years before Gov
Chase and Auditor Wright, (whom MOI
gan and Edgerton row have the rockies
3 effrontery to complain of, for not actin
more eficiently!) Immediately on learnin
similar facts, demanded the keys of Gibso
and had the actual state of the Treasur
fully investigated. Had Morgan and Ed
gertc n, instead of winking at this defalca
; Lion, and keep the secret, like Gibson
= acted promptly on that occasion, or in til
previous November, as they should hav
, done, there is good reason to believe tha
a large portion of the money of the Stat
now lost forever. might then have bee
, saved. But the party was the first con
fsderation, (after their own interests, } an
, Morgan ran on the same ticket with Bres
I lin, knowing him to be a defaulter, all
keeping silence. The completely of thes
3 two investigators" is fully established b