The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-09

oefose known IN the history Of military operations OF
state q things, the question arose In the very beginning
ard continued 70 present se In the progress OF the SER
Wicklow SHAH these men be enabled 70 anticipate
their eanipgs thus unusually delayed, deprived they
ale Of the OF obtaining cTed upon their STOCK from
ts perhhabe character and the extraordinary hazard:
obtain credi. only their contract and the acoeptances
gave seemed the only mode available Of providing them
house OF Russell Majors and wsddeu was universally
esteemed throughout the West inferior 70 either
DC ana n, won ns sS cou
dence Of the Government, In whose service II had been
since lsAS. was therefore, under the circumstance
no impudenee even 70 conAde 10 them the important
trust Of ticking care Of their own credit.
Al the time the first Of tho acceptances given,
be o. e for the
rg that of my coming into ONCE besides which fact,
extraordinary outlay In advance appropriations
ances given TO the emergency presented
Moreover trains Of these contractors with army sup
plies had about that time been destroyed by the
IN respect 70 which catastrophe the accounting officers Of
the bound not only TO refuse
payment Of the transportation money earned but to
withhold also the value OF the supplies on hand out OF
other dues OF the contractors who thus lost not only
their earnings but the value Of the goods for which they
lad rscoipted, as we'll their teams and stock. This
justly chaIgeabe upon the government, could only be
made good by Congress. The contractors have always
estimated its amount at about $40 0O0 II has
yet been paid II very seriously crippled their resources
at the outset Of their operations under my administration
borrowers money
at high rates Of interest The interest thus enaled
them for upwards of three years. added TO the prnc
pal represents now loss Of more than half million OF
dollars The country cannot have forgotten thas at the
time these acceptances given, actual rebellion
foot In Utah. that the whole United States force
most periious condition from the fear OF sarva
ton The troops a thousand miles beyond the limits
Of settlements, in desert country aiording not
solitary supply OF any sort aud annoyed constantly by
active, daring enemy, who hung continually around
them avowedly fer cutting off supplies. The country re-
collects that army reduced to such extremity
that only single weeks provision saved them from the
necessity Of eating their mules What would have been
the censure Of the country upon mo IL had from any
cause allowed the army there TO suffer for provisions
bitterly abused for the risk the troops exposed
towhat would have been the just condemnation heaped
upon me the impending dangers had actually befalen
themy
bave thus stated the controlling and accumulated
sons which compelled the department to pursue liberal
policy aording the contractors facilities Of credit
stated found themselves constantly under the necessity
Of anticipating the earnings Of their trains and fosnd
the reasons for aordng them these facilities
santly repeating themselves believed they legal
and willingly then, and would freely agaio, take the
sponsibty OF granting them, determined to
the certainty and punctuay of the service which
! did and which never failed. The COM
plant against me now is, not that the service
failed In single particular not that the army fell short
of supplies for single day, not that single soldier
any Of the people constituting the army and its attend
ants of the ten thousand poeted in the western wts
suffered want prvation the whole four years, but
that the engaged in disastrous contract have been
unable 70 meet punctualy all OF the acceptances which
vice.
The President, Mr. Buchanan was right and said truly
TO Mr.. Benjamin. that If Mr.. Floyd had given these
ceptances they were dosbt right and proper So they
were; they in strict conformity with law and they
enabled the War Department to ensure the maintenance
the army points than thousand miles beyond
the borders OF our white settlements with as much GER
tan'y and regularity as they had been stationed In
ordinary frontier posts And assert, without fear OF
contradiction that such regularity and certainty in fur
nbog supplies Of every sort to large forces SO remotely
posted at rates economical and under dill uties so
imposing witnessed before in the history of
any military movement on the globe. Mr. Buchanan
might well say the transaction right and proper
think the pablo 10 now prepared to understand why
THE AMOUNT OF THE ActEfTANtEs
negotiated during the four years for the purpose ex
tho contractors. say corresponded substantially, be-
the service subjected TO too many oontipgen
for specific periods None could estimate with accuracy
what they would be- during given year as this
would depend upon the movements OF troops dependent
upon gencies constantly changing Thus Quarter
master might conjecture that tho earnings for 1851 for
instance would be half Million while the Secretary Of
War might place the estimate at double the amount
Still greater uncertainty would exist to given
month, quarter fraction of the year. But notwith
standing the variable nature Of the earnings the amount
Of acceptarccs negotiated TO anticipate them
did substantially correspond with them This
matter left in charge Of tho chief clerk
keep tine amount Of the acceptances within the proper
limits The total earnings Of the years 1858, 1862 $780,
and those g tor ,sor were wnch ,r
Congress alone can allow On the other hand. the accep
tances which 10 anticipate these earnings exclud
ing those which returned TO the department unused
and cancelled was $3.50 1885, $500 Oc0 lees than the
earnings Thus the amount Of the acceptances that
given during the three years due solely to the unpre
cedoned magnitude of the service performed The com
mee for sensation purposes endeavor TO produce the
impression thai these accepancos were all outstanding at
one time and are stll outstanding, liable to come up
against the government for payment As well might they
have collected up all the bonds which tho government
paid and cancelled and declared grand be
debt OF the nation. They had abundant proof be-
fore them that these acceptances for which the
government bad at all times security In the
amounts accruing TO the contractors, were all paid
BY them they matured until September last and they
thoee which were put into the hands CT Bailey by Russell
aud which l Immediately cancelled on discovering the
perverson there but 1915 900 OF them outstanding
known to the department. which would Of receive
notice Of them ALL Deductng $50 900 from 81 445 600
leaves s555 0o0) The committee were bound TO admit
this fact, but they up the admission in disingenl
verbiage which conceals 1t from the public The
committee could also have learned, II they had pursued
their inquiries far enough TO embrace the whole truth
that the outstanding acccptances had been provided for
by the contractors IN assignment OF property believed
to be ample for their protection and that ultimate loss
10 the government likely to ensue on account OF them
indeed that largo portion Of them had been secured by
double assignments Thus the committees magnificent
bubble of sx or seven millions of acceptances likely
TO fall upon the government, collapses under the
touch OF truth to less than six hundred thousand,
secured by assignment Of property ample to cover the
dollar OF loes fall upon the government whore the
committee report six millions. II the government ah all
permit the earnings 10 DC apphed
10 outstanding aeceptances, they will be paid OF
without reserve to the assignments.
During the monetary troubles Of the last fall and early
winter, which diminished the resources Of the govern
ment, issued conditional acceptances contingent on
their face upon earnings TO the amount OF $79s oo0
which given the condition that they were to be
substituted for previous that In the OF
maturing for the purpose of extending them and upon
the declaration to that the holders OF the maturing
paper bad agreed to receive the conditional collateral
But have already explained this in my letter OF the
9th December last 70 the Speaker OF the House Of
Representatives, every word OF which now reerate
Upon the facts have detailed, submit the pro-
prety Of issuing the acceptances under the exgenccs
which pressed upon the department. TO the judgment OF
every enlightened man and patriot. Whatever may DO
the cutlery OF too easily mised press the camor Of
packed committees Of Congress claim that It
act Of merit, for which deserve the commentator Of
the country.
AcCouNTS
The committee criticse the In which an ac.
count 81 the acceptances kept In the War Depart
ment but it's charges in this particular fasfed by
the records Of tho department furnished In their
volume of evidence. These contain a minute OF
every fact In relation to the paper, except
its payment at maturity and as TO the
JmeDt 1t was the arrangement that the