The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-02-11
VOLUME X. NO. 6.
Remarks Of Mr.. Parsons Of Cuyahoga,

~ the HOHse Of Representatives. ttb lst.
1889, on The Report Of The Judiciary Com
urtItee. asking 70 BE- d,schsrgsd from the
further cVns'deration Of Mr. Welch's r,so-
tuition, TeiatiCe TO The Canal Bank of
CiereiaRd,
Mr.. SPEkKEns I tr ist sir, that tho House
will not dischargo tie Judiciary Committee |
from tbs Further consideration Of this sub
ject, but will refer the matter back to them,
with instructions TO report bill providing
for the payment al eace. by the State of tho
outstanding bdls OF the Canal Bank, and the
redemption OF the certificates OF the Troas.
urer of State given for the ssme. 1t ia an
act of justice that is loudly called for by the
people of the State. and one they have the
right 10 demand at our hands. Sir. the bills
OF he Canal Bank, were taken by our citi-
acne as meney. because they supposed the
credit OF the State was pledged for their 1-
demption. They reposed with entire conf.
deuce upon that belief. and now we arc
called upon by every principle of equity and
fair dealing to redeem that faith.
l cannot believe thero is gontleman
upon this floor but what would cheurtully
give his vote for a bill providing for the re-
demption OF these notes. Tho liability Of
tho State is undsputcd--th fact that the
bills never could have obtained credit for a
moment with the community. had not the
StRte been pledged to redeem them,i equal
ly ADMITTED, und that by the neglect or de-
fsGtt. or Fraudulent conduct OF the sworn
officers of the State, they havo become
worthless in the hands of Innocent holders
10 equally admitted-henCc it seems to mo
that no man who loves justicc-who desrcs
to maintain untarnishod the dignity and
honor OF Ohio, can hesitate for n moment as
TO tho clear line OF duty. Sir. insist that
the State should redeem these notes with !
out dulay, Men and women hold thcm at
this momaHt who need the bread thar these
notes ought to buy. Many of them arc suf-
foring want aud dostitutlun--all Of theto arc /
iunocout OF any wrong, aud all of them cry
out loudly for relief.
Tho history of the excess Of circulation Of
the CahGl Bank Of Cleveland notes beyond
the amount of securities pledged for their
redemption. is simply this. and will state
il rs briefly as possible, in answer TO thu VA
Tious inquiries this discussinn has provoked
Mr. Mcmillan, who was at the time Cashier
of the Akron Bank. and understood to To
interested ia the Canal Bank called upon
MIR. Bresl6, then Treasurer of State, and
asked him if he had received from Atwood
& Co of New York, fifty Thousand hoiIars
worth of Ohio State Stocks on account Of
the Canal Bank Mr.. Bresiin replied ia tho
negative, aud Mr.. Mcmillan requested him
to make out for the Canal Bank u quantity
of their bills for circuatiun.saN ing thRt when
tho Stocks came he would take the bills to
Cleveland. Mr.. Breslin did SO and the next
day Mr.. Mcmillan called Al tho Trcasurers 3
Office, and asked it tho Stocks had arrived
and manifested considerable surprise whom
told that they had not.
At this time MIR BrpsIin had package of
the bills of the Canal Bank ready for circu
!stion, amounting 10 Etghtoon Thousand
Dollars This package Mr.. Mcmillan pro-
vailed upon Bresllu to deliver to him. upon
tho assurance that tho State Stocks to SO.
cure ttam would certainly bo on hand either
that day ur the next. MIR Mcmillan wns "a
smooth tougued oily gentirnan--Uf fins
personal uppearancc-a bankur--a railroad
dirrcto,--ln,. so respectable gcnorally, that
Mr.. BresiIn could not but trust him. since
that time, circumstances have forced Mr.
McMlau TO %" icavo his country for his
couEtry's good )" aud Ohio mOurns the loss
of so eminent patriot aud 30 useful Il
citizen. q
Mr. Brcslin delivered the notes to McMil-
Ian who took them TO Cleveland and dev-
cred them 10 Mr.. Severance, tho Cashier Of
tho Canal Bank, The notes were taken by
Severance and deposited 10 his credit on tho
books of the Bank. and speedily found their
way into circulation. Mr.. Severance after
wards transferred tho bills to tho credit oi
Mr. L. Hewitt, :he President of tho Bank
aud when the Bank failed. he was II crodir",
of the Bank, to tho amount OF ths oightor,
thousand dollars. which had been thur
wrongtully taken from tho State-and fo'
which the State never received an iota %
srcuritvG for it 10 needless tn add that the
State never received one dollar of the stocks
az security mentioned by Mcmillan. The
whole of McMllans statement was q pure
fiction. or if not, tho stocks wero detained
on thor way to tho Treasurer, and never
reached tho vaults of the Treasury Depart
ment Thus was tho fraud perpelrated
upon tho people of tho State. and in Thir
way did this unsecured Canal Bank money
dnd its way into circulation.
In answor to tho inquiry of the gentleman
from Logan,I would say that MIR. Severance
is wholly irresponsible, but suit is no"
pending against MIR Hewitt to recover buck
IhsSl 8, ,O00ut which tho state was dcirandcd
Throwing out of the case ali questions AT
to the responsibility of Messrs Hewitt RnC
Severance-throwing aside all questious n
TO their conduct for which offer no apollo
py, it will be soon that had not Mr.. Brcsll
clearly transgressed the line of his DUTY il
delivering the Canal notes of Mcmillan b.
fore ha received tho requisite security. n
difficulty would have occurred, and tho poo
plo of the State would have been saved tn
losses they were compelled TO boar. by rea
son of bis gross misconduct. l make Lc
charges against Mr.. BresIin. Hu undnubl
ediy alaccd full confidence in Mr.. Mcmillan
and fe,t assured that tho stocks would cor,
taiuly como to hand But it will not excus'
him for moment--he clear J deviated tron
the path ofjuty, and thus from that devlu
ton, has arson all this difficulty.
The simple question for US to answer !
view OF these tuc's is, shall tho innocen
holder Of those bills suffer because ot IN
wrongful act Of the sworn agent of III
State? The State issued theso bills--th
State gave tnom crodit-the State ndorse
.seom. and tho people took tho,n, known
that the State was Responsible Tor Their u
do.nption. SO with tho Seneca county Ban
bills Tnuy should be redeemed, and r.
deemed at once The dignity OF tho Sta
requires it, Good faith and good coosc'cnt
require it. Shelter the State hehlnd !
sovereign,y--to say il cannot be sued, al
therefore canuot ba made to pay its hone
debts, is Simply to commit, in my JadgneH
Al. .i.KhI nT nAnnlA A.