New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-03-30

" have oyeHsksn the Ssste Treasury" I'D ~.
solved, in order TO be ready for emerxeas,ss, 70
call for tie redemption. on the sdVsru,ei .srsx
Of the wtole amount (SlO6, 90o) Of Uaited Stab.
stocks, eerthcstes Enclosed, standing TO tie cred.
Of the Ohio SiokiDg Fund. This letter. /. is ),
noted, in which Morgan proposes for Breshs's
assistance to violate tee law creating :hs Sukins
Fund, AID 10 m!spPToPnsse tho moaey Of that
fund, set aside for the redemption Of ths Stat.
debt, to help pay the interest was weittsa saly
seven da)s after the close Of tee fiscal yesr waoaL
81 Auditor Morgan reported to tee Go'srsst.
there was in the Treasury Sj5i, $50, the Interest
about to fan due amounting TO ouly SiS} 333.
In replying to this letter, Atkinson lately n.a.
Der OF the Ohio Legislature put 10 Morgss the
pointed question, " WHAT is the difficulty with the
- Treasury "a point as to which Morgan sai
bis brother Commissioners Of the Sinking Fad mag
well be supposed to have satisfied themselves hs-
fore ven,urins to mi.sppropriats the money 10
their hstds for its temporary relief Hasias pat
thi, pertinent question, Atkinson proceeded 10
.wit Morgan with the opposition which sad sses
msde to tie project Of sa Independent troMuu
which Atkinson had advocated when nber Of
TIE Legislature, but which The OHIO Stassnas hA
then Der oanced as q person,l ding at tas TrsAs-
" urer Of the State" and which, though it pissed
the Senate, hsd been rejected ia tao House.
Next comes letter from Edssrsor to MSgsl.
dated December 4. complaining that tho Treasurer
h.d not yet deposited with him in NeW. YORK, oas
cent toward meeting the January interest," aaa
that he had not psid a draft Of $4,000, made On
him by the Auditor for investment as siDAisg fuaA
at tie same time be advises steps toward ssiss
prepared for a deficiency, ia addition TO the 70.
demptiou above referred 10, of the United STATES
stocks, suggesting also, that the rsquistiots fos
money for the payment Of interest, cagst ia future
TO be made on TIE Treasurer some months In ad.
vance, thus showing clearly enough, that he kssv
too much of BeSin to place any reliance On hi,
mesns or bis promptimde.
A third very significant letter wss addressed,
December 6, by Attorney General Cook, {" Coa-
missioner Of the Sinking Fund, to his colleague.
Morgan. From this letter, it appears that Cook
had for some time entertained suspicious Of Bresa.
and had expressed them to Ryan. Those sussi-
cions, "wel nigh dispelled' during . visit to Co.
lumbus. had been revised b. recent information
from New-York, where the failure Of BresIia 10
meet $50 900 draft had excited suspicious in
Wall street as to the payment OF the Jsiusry IN
terest. To guard sgain,s this Contingency, no
consents 10 suspend the investment Of the mossy
raised by the redemption Of the United States
stocks, in Ohio stocks though they might thsn DO
purchased on very advantageous terms; bat 10
insists that the money should, meanwhile, remain in
the United States Treasury. 81 am unwilling"
be says, "to trust the integrity Of the NewYork
"bsnkerr when d,strs,t The iH.fgriy Of asgona
{" ficer Of the State "
AZ "a further expedient for meeting this emsr.
gency, Morgao, in letter to Edgsrton Of tho Oh
December, proposed TO rsse mone! By hyPotss-
eating certain Safe bonds which be expected
would GENE into tho hands of the Sinking Faal
Yet, in ,pite of all this full knowledge on their
part, the Commissioners Of the Sinking Faad, il
their semi annual report to tho Governor, Jaa IL.
1867 say not one word about these e0Ssrtss-
men,s Of The Safe Treasury, nor of tue call that
had been made upon them to provide sg,isst The
emergency Of the Treasures failing to faruish
funds for the payment Of the January iaterest.
while the redemption of tue United States Stocks
is stated TO have been made solely with . Uew 10
the investment Of the proceeds in tho Puroha,s
and cancellation OF Ohio Stocks.
On June q, 1855, Morgan addressed letter to
Edgsrton, in which he stated that Bfe,lis bad in
formed him the eyepiDg before that no was
short 100000 Of means to meet the July
interest, though there ought to have bsea
81 200, OOO then in the Treasury. WAIST did Asr-
gan DO on this emergency IL wsplsiuly his dutg
to have done what Auditor Wright did when Glib
sor inside similar disclosure to him. He ought
at once to have communicated the fact to tue Gov
ernor, to the end that steps nigh. be taken b. tho
proper authorities, not merely to protect the credit
Of the State, but instantly to remove from ohee
thi. defaultipg Treasurer. Instead Of doing Ast.
Morssn nclcsed TO Edgsrton three warrants on
the United State, Treasury for 81. 900 belonging
to TIE Sinking Fund, and which had been gias
there unnves ed for ak months (ss if to DO pro
pared for tbs very emergency, authorizing him
also to employ toward tho payment Of interest say
Sinking Fund moneys in bis hands and, if worst
came to worst, TO raise moro money by byPothe-
eating $40, eco Of State bonds sIresiy redoen med;
but this last, Edgsrton wrote b.cs could not b
done, IS these bonds having been already csaoe'o<.
conld not again be Issued. However as the dedoit
on Breslins part came only to s97 ,553, tho shlas
was m,n,ged BY means Of the moseys on baud.
Eags,tou freely expressed bis apprehensoss n
his letter above referred to (J0ne 30, 1851 taAs
thi. embsrrsnment WAS mot temporary NM
49,. I;,ssrl MAJ avidentlv If fine same OoiuiOu. for