The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-02

IN wv lNhn hUnhLO, i
has hypothecssed would 60 down to very low figure,
and De SOLD sch sacrince you'd stu further en-
ba'rsss me- saw, in . word, that was in imminent
peril no1 received the second 1T OF ponds the better
70 epaose mo 70 recover the rst and with knowie1ge
Of their Tue cbaraer did this under the force Of clr
cuosro nees which was utterly unable TO control
did n, aa now most soemnly aver, with as pure
Hoy 80 as moved an honorable man. But now
cav that in danger OF losing these bonds and
pose also that | hsd previously pledged. rhe
thought shot through me like aae Ny misfortune assum
altitude expansion that shut al hope FOR ths
future would have gwen the world II had never been
engaged IN the service of the goveru,aen by whose
direcy a2eucy, Withholding dneE, my moarra>s
mems first brought upon me.
AZ a last iororn hope determned 70 throw all the
bcpos upon the to OBTAIN and sell Others
with the providing the wherewith, IN c31-
neooD with RESOURCES, rcpurchase the Whole,
when they reached 'ser loves market price But ia
his sItenp. sas suddenly cut short by the plthc
] avoxs OF Godaro Bailey.
| The course passosa toward mo by the government
| pGbiicly snown ia alreaav well understood ] vas
| nntnediotely arrested AID held 70 bail in a ~ n
exceeding thing ever before known 10 the ann
O. JUDICIAL prove dug any .oartry i'll the world. NY
friends IN The West ne promptly forward and pronered
security b. he amour, o. mhons; and although wa
The midst OF strypgsrs, nearly two thousand mite
| en- 10 me- his pronerco. rejected, and
Tesioenl security was demanded TO three iths OF the
whoe amount his, OF course. was unable 10 give, IN
default o. which rcmanded TO prison, where re-
NAMED until public sentiment forced The aomiustraton
| TO reduce my bono To more reasonable limit
OF Representatives. ara subjected il tedious eAamna
ton In regard tho Indian trust bonds, aud lsJ IN
relation 10 he accepiapces OF the War DepartGent
PROPOSE in this connecon to review portion 81 Their
] report.
REPORT or THE SELECT COMMITTEE.
II Is not True, rs the committees represent, that ac
cep'ances now ontsiapnng'' 10 the aaIeaRt 0.
So 1871 a6 who must euher be paid by The government
or fab upon he holders In fact, 1t true
the knew p-riectly well when they the
statement. VIII demonstrate before am done with
bs part Of the subject that the amount Of acccplnces
ola not then and does not exceed tnta OF Inc
yast sum which Tho committee for purposes
have represented as hos.Ig abost ala general circaia
tion.n and likely 10 sstal upon the holders 2 VIII
prove this The table acconpan, ing report Of tho
committee, apo from the report Itself
Other AID Dcontestne proofs al my commaud, and
AT the command Of tho COMMITTEES. II they had
re. DC 10 know tho precise OF panccs
outstanding )" they might readily have informed
themselves by sending Tor books wnlcn the &c
count ately kept tron the beginning
tbey might have sent for cancelled acceptabces lham
selves, winch we never taed To take up AZ majority and
te until long after tho government had failed 10 pay
what the haos the dopar ment have acno sodged 10
be due u.s. and what would have enabled any tne
and would now enaolc us, 10 pay oil every demand OF
every character that exists against | distinctly
informed the committee that books, the nles
of cancelled acccp tsLces would show what aaount
outstanoingn and, although the rcso uton under
| which they were appointed gave them 'ful power
10 aerd Tor persons Ina papers, and Charged Them 20
Enquire into and report the facts" they chose
assume, uLd publish the wogla. thas WI
amount we had receved was still outstsnipg, rather
than send Tor INC evidence To which referred hen and
which would hay. shown thai nine tehths o. the
whole had been paid II al maturity. These proofs
nave sad are nov 1t my command, and wcceat the
maDd 81 The committee. but az they have Taed % ooam
and embooy them III their report which cdcsidera
ton OF us.l5e and nr dealing required aen 10 d. viii
also pass them oy and conne 70 the lactsr and
figures before the Committee
Before proceeding to demonstrate, as have promised
to DO that the report OF the committee contains within
itself us minest rel uLatlon, lar Tie
of acceptances represented TO be outstanding
concerned, constrained, matter OF smpe JUS
Ice 70 n5seH 10 say rev words III reference 10 my
examination before the committee touching this part
cu.r POINT, AZ they have reported u 70 the House o.
kepr. sentatives
When desired by the committee to inform them
wha, amount Of acceptances / had resolved from
the late secretary OF Va, ] replied, ~ 40
not know ia the same connection and Tor the
purpose OF explaining why did not know, informed
the committee thai had received tho accrpt,nces
vary ing amounts VI from i've % one hundred and fy
thousand collars, Irregular intervals OF from
three months extending tLroug OF nearly three
years ana that u was quite nipssipie under thcse cir
cumsunses, Tor TO carry the gross aggregate in my
head, and thus DO able a. any moment. wnou referring
to the books in 1hch c,ae account OF them
kept or TO the files Y caaceed &C epances themselves,
81 what amount had received what portoa
OF The whole naa csep pa "if ana cancelled.
The committee then asked me To give my ssiupres-
sion as W the amount receved This did; ayerring
the same time that y only au impression Was
next desired 10 give my .imprcsson the
that han paG OF aud Cancelled did this aiso bu,
proceeded as before " explain how impossible IL
even approximate the Truth without referring TO
books the pes Of carceie1 accdptances. Gy sim
iIessons' taken down by their stenogfaphcr
gave them but the accompanying explanations no
Alter the for egolng intorrogatories concerning nv
g mpressis MS hGn been propoundcd and IN swered,
made substantially the follow ing additional siasement
g. Whilst IL Is not important IN any 0pnsr, that should
tax my mind with the gross amount Of aocep,ances
ceived and paid o through term Of years, ard whilst
il would be impossible Tor any living man TO keep the
account nhis heaa, any thing like accuracy IL /.
important, 90 regard 70 ms both possible and TN
porant Tor business man 10 keep hc geaefa run OF his
financial affairs us 10 know very ~ nj all times,
without having 10 refer 10 tho books, the amount Of his
outstanding liabilities In this sensc clam to DO tho
roughly acquainted with my business. ! am wholly
Bile, said before, tell you how many acceptances
have raised nancy upon during the Isl shree years All
that maurea prior e. the eighteenth day OF September
last have been paid OF and as no practical
advantage conli possiby result ron my keeping
account % them in my bead, ffsnk con css that have
had olive. ana have no ciio 10 do But
do know very nearly tho amount OF those onstand
ing; and am able To stlte and do sta,e, tnat the
amount Does MT exceed 5000 90" THIS part 81 my tes-
timony for nest known TO the omnlttee, does
appear IN theii published report,
Why the COMMITTEE III % publish my "impres-
sions rather hau NY positive Testimony save Tor fair
minced men D. drterGiae viii outy add. in this
n.ctjob thal the committee could not have nisunder
stood tor When informed tnrm that The amount OF
outstanding acceancrs on not exceed sb0 o0 one or
their number, aadfesSrg me, saa:li not able
TO state the amount received nor The amount paid OIL,
how you unueftssc 10 state the amount nov out
stanaing'' TO tn's interrosetoty ] replied MS
foiiows'-''i know from balance sheet re.
Gently made the gross dc0t of
firm ineiadrg the od,standifg acceptances. | know,
also, heary 'he det of cur irin independent OF
the accapuhcrs. u pam therefore, that the acgre.
gatc ~ Outstanding acc pances mas b. readily ascer
taiacu by euptsctne th- latter amount from tho for
mer.n he cummsitre have iaacG " publish this
statement IA thor nict report.
will now proeeed demonstrate from the table
company ing the report or tho comm ca ifom the
report ITSELF nat he amount OF aeceptsoces outs'and-
ing IL less than touh ~ what fhc committee
present u 10 be ihe usst aecep'Abcs received by our
nrni frtm he War department shown By the table
above referred 10, became doe in month OF Nay,
1865. The am 'uIt S4l GOO lne Amount of our
earnings all " QUO il thu uprth was 1,000 or
s. 400 nnra th9n the nu"unt OF nLurtrg acceptances
These nngs received from the Waf Deolrtment aud
with them paid II AID tutk up the mat1rng accep
tances By coTrnlirg the anou ut ~ acccptansas fall
ing due "a each month ~ tho 1853 i,h tho amount
OF pngs Tor the perfJts. respectively, q
similar result VII - ostamei IN every case,
without exception Or ~ The gre<ss ar reeae
OF accrpn crs falling enc IN ths year 1855 be
pared IN 'nr gross earnings ter the period, the
latter snouDt W be found 20 ve. Ia gely IN
OF the former " truth our earn n ;o the year 1868,
wii te by refer, "a the roprt Of the
mittee g. 30 3Ts So nuo The gross aggre
gaeo' The fsceptanc recavc1 by tho War De