The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-02-14

hhess,! 2l,oeo
s,s;ah, Gather, Bait. (w; Fisher witnsss,i s'ees
d Atkinson, " l. 900
Lownds, Thompson Co.. Baltimore (yit-
ness Martin Lewis, Observation-Disclosures. 5000
Iotaf ............ Sl?4. 900
A Few other bonds Were ascertained to have
been purchased by Riggs Il Co., bankers, of
washington for other parties, and by other
individuals, which are not included in the
above statement
MORE THAN Sc, ,000, 900 OF AocEPTAycgs ISSUED
In relation to the acceptances issued uncon-
d,tionaily by the late Secretary of War, your
committee deem il their duty to sta tie all the
facts they have been able to discover, as fully
as possible They amount in the aggrega te
TO the enormous sum OF SO, 179 ,395. Add there
10 the conditional acceptances which have ;tl-
ready been thrown back upon the Govern
ment through the agency of Mr.. Bailey and
the sum total is :6,e77 1896. This estimate is
based upon data furnished by the War De-
partment. Itappears therefrom that accept
ances TO the amount of $50 600 were returned
to the Department for cancellation. Mr.. Rus
sell, however, claims to have returned only
$500, 900, or $3.50, GOO. He further states that
the aceeptanceS which he did return were
those which had matured in his own pocket
and could not, therefore, be negotiated. But
this assertion is positively contradicted by the
endorsements on the returned acceptances,
and by the testimony of Mr.. Irwin, a clerk in
the War Department.
From the careless and irresponsible manner
in which business was transacted by that gen
tleman and the late Secretary of War and
from the fact that It was the habit of Cover
nor Floyd to issue acceptances ut the De
partment or at his house or at whatever place
he happened TO be, it is 4 matter of great un
certainty whet ther not the Ss40 900 should
be deducted from the sum heretofore sta tied.
The probability is that when the acceprances
We're returned to Governor Floyd by Mr.. Rus
sell, he accepted others at the same time
nfr
registry made. l is deemed safest to proceed
upon supposition that the acceptances made
in the place of those returned were registered.
Upon this hypothesis, the $50, ,000 must be de-
Quoted from the IS, ,l79 395 of the unconditional
aceeptances made and registered in the War
Department. This would leave them so far
as is shown by the records of that Department,
50, ,339, ,395 still iii circulation add to this
amount the S79s, 600 of conditional acceptances
received by Mr.. Bailey in lieu of the bonds,
and the aggregate is Sc, l37 ,395 Here, then,
confining the statement to the records of the
War Department, is deficit of Sc, 49, ,395 to
fall upon the holders of these acceptanccs, or
TO be assumed in some way by the Govern
ment
WHAT DONE WITH THE AccEPrASCEs
The evidence shows that the acceptances
have been sold in various parts of the United
States, wherever a bank or private individual
could be induced to purchase. 1nasmuch,
however, as the amount OF those that have
been traced directly into the hands of present
holders, cons tituted but small fraction OF
the sum still unaccoun ted for, and as owners
are daily filing additional claims at the War
Department, it is deemed unnecessary to give a
detailed statement of the discovered acceptan-
ces, or to make other mention of them than to
refer to the papers relating there to, presented
by the War Department, and TO the general
evidence.
IT is proper, however to remark in this con-
nection, that while your Committee do not
deem 1t necessary to give said details, the data
in the war department fixes the minimum
amount of outstanding acceptances known to
that department at 81, ,+45, ,00o.
Mr.. RUssELL's ESTIMATE.
To avoid all appearance of unfairness your
Committee consider it proper to give Mr.. Rus
sells estimate of the amount of acceptances
issued, as set forth in the following extract
from his testimony:
Question.-State as nearly you can, of
your own knowledge and recollection, the
amount Of acceptanccs of Gov. Floyd shown
by that (his) account to you?
AnsWer.-l have got but an idea about it
1t was very large. cannot tell how large. l
believe it exceeds s3,000000.
Question.-DoeS il not exceed 81, ,000, 900
Answer Il do not recollect.
Question.-Does ii not exceed 5000, 600?
Answer.-I judge not; it is all impression
on my part.
| received his acceptances TO an amount not eX-
ceedipg So, 900 000i
Answer.-I don't think have.
Question How much less than sc, 900 900
can you say was the amount?
AnsWer.-I Will not Fix the amount. ] know
it was very large. 1 know it was millions
Question n.-Will you fix any amount short
of So 900 900, which you can say covers it
Answer donot think it exceeds 81 900 900
Cues tion.-Oan you state to the Commit
tee, within half million of dollars, the
amount of the acceptances OF Gov. Floyd
| which you have paid
AnsWer-No sir | cannot We have GER
| taiuly paid upwards of $1,000, ,000 and proba-
! bly, $500, 900, and cancelled them, or retired
| them.
Question DOES S. SOC, 900 cover the amount?
Answer.-I cannot say positively.
Question.-Can you name a sum which you
can be positive does cover the amount2
Answer.-I am sure we have paid S., 900 900
Cues tion.-Are you sure you have paid and
cancelled s., ,000,co0?
Answer.-Well, l am pretty confident in
my mind that We have.
Question. Can you state any amount larger
than that which you are confident in your
own mind was paid and cancelled?
AnsWer.-NO, sir.
Question.-Did you not pay and cancel Gov.
Floyds acceptances to amount larger at
the outside than SO 500, ,0o0?
Answer think =, 500, 600 will cover the
SUM ! am very confident III my own mind
thatit viii.
Mr. Russell then stated that besides the
acceptances lie had used and those still re-
naming in his possession, (the latter some
what less than two millions in amount w. GOV
Floyd gave him others which he returned
w
should be given to these explanations the
amount of acccptances still outstanding is
very large. But Mr.. Russell's statements are
so rambling, vague and unsa satisfactory, and
he shows such utter ignorance OF the details
of his business, and such incapacity un-
Willingness TO make an exhibit OF his affairs,
that your Committee have considered it much
safer to base their conclusions upon the re-
cords furnished by the War Department.
These records are of character too peculiar
| to be passed without comment.
IMPORTANT TESTIMONY OF SENATOR BENJAMIN
Mr.. BUCHANAN NOTIFIED GOV. FLoYD's sYs-
TEN OF ISSUING AcCEPTANCRs.
| MIR. Benjamin, who promptly appeared at
the request of the Committee, and testified
| with commendable and courteous frankness
states that during the first session OF the pre-
sent Congress, some twelve or eighteen
| months ago, he was written to by the Attor
new of Duncan, Sherman d Co., OF New York,
and his opinion requested as TO the legality of
acceptances issued by Gov. Floyd to Russell
Majors & Waddeu.
1t was mentioned in that letter that these
'drafts - as they Were then called, We're Of
fered for negotiation with the assurance that
they were issued with the appreciation OF the
President and Attorney General. Mr.. BenJa-
min visited the President, and submitted the
inquiry 10 him. The President replied that
he knew nothing about the matter, that they
had been issued without any knowledge of his,
that he did not know by virtue OF what law
they were issued, but that he (Mr. BenJamin)
might rely, if Gov. Floyd had issued them,
he had issued them properly, and that he had
better apply to him GOV. Floyd to ascertain
by virtue of what law he was acting.
INTERVIEW WITH GOV. FLOYD.
In pursuance of this suggestion, Mr.. Ben
jamin called on Gov. Floyd, and was informed
by him that the matter had not been submit
ted to the Attorney General, as was stated
that the drafts were issued in pursuance Of
long established custom of the office ; that he
was not aware OF any law actually author
txfs