The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1861-03-21

IL, odscer
d accountable for the principal and interes, o.
'e the money thus wrongfully Withdrawn iron
70 the Treasury. The officer should be com
J. PEELED to seek his indemnity against the
n parties to whom he gave the credit There
r was no proof before that Mr. Nofsinge,
had any interest in these bills, or tha, he de
IS rived, or expected to derive. any Individual
/. benefit from these transactions. We have
;. no doubt that he purchased the paper in the
conviction that it was the most advanta.
Il Reous disposition he could make Ct the
II means under his control, in view of the
/. character Of those means, and the necessity
o which existed for converting them into par
' funds 10 New York.
!, 1t was the duty OF the Treasurer to trans
fer to New York, funds to meet the interest,
!, aceruing semi annually. upon the puolic
debt. The then existing statute was silent
as to the mode in which this ,rasfer was TO
be made. The selection of the most expe.
{ dent mode was therefore imposed upon
tina. officer. and. in regard thereto, the Law
required him to exercise due care. skill, and
reasonable diligence. The prevailing. and
we might perhaps say. the universal mode
for the transmission Of funds. IRON the in
terror OF New York. was and is by letters
of credit aud sight or time bills. such is
The uniform practice OF the several States,
whose oblgaions require them TO pay prin
cpal interest in New York-a practice
from which the predecessors OF Mr Not
singer rave never deviated since the But
Ter bill'' took effect. In frequent instances,
the purchase Of time bills was almost indis-
pen>sble.
The proof submitted to US upon the char
acter ot he security taken by Mr. Noslng-
/ iaP W A lar. ,F
nesses. many OF whom were experie ICED
business men of high character, and emf
neot bankers were exa mined They all
concurred IN stating that Tue security, at
the time "f the negotiation. would have been
considered not only ample, blt of the best
d 'scriptlon. The parties 10 the paper en-
Joved high credit and had large pecuniary
resources. The renewal bills, from the ev,
dence before US, would also have been re-
garded AS undoubtedly secure.
! The purchase of the bills by the public
funds, being an appropriate means 10 enable
the L treasurer to discharge duty imposed
by law, they must be consid red lne proper
ty Of The State, and sucn purchase having
been made 10 good faith and reas enable care,
the Treasurer was not liable tor the failure
OF the parti-s to pay them. or the losses
which the State might ultimately sustain.
unleSS sucn losses resulted from the subse-
quent laches OF the officer.
The law upon this point is we'll stated by
Mr.. Attorney General Mcdonald in a COM
municaton to us. He remarks: by the
hrst section of an act approve ed January IA,
| 1850. it is made the duty Of the Treasu. er
OF State 10 furnish to the Agent of State in
the city of New York, in time for the pay
ment OF the interest on the public debt to
be paid by the State, such sum or sums Of
money as may be necessary therefor He
adds: Thus the duty of transmitting the
money Is imposed on the Treasurer aud no
mode OF transmitting it is prescribed by the
statute. In a case Of this kind, the law pre-
scribes the mode al that is the mode
which man OF ordinary prudence, skill
and diligence. would adopt in view of the
current ,usages Of trade at the locality for
transmitting his money. Ia other words,
The law has required an ac, to be done. but
the plan for its accomplishment is left 10 the
discretion OF the officer, and necessarily he
can only be held to the exercise Of reason
able care aud prudence in selecting the
means. and reasonable diligence IN carrying
them into effect
We are now prepared To say that Mr..
Noisn gers conduct after The dishonor of
the renewal bills. should exempt him from
all censure. We Cannot. however. find that
the State sustained any damage by his fail
ure to bring suit upon them. AMI ii she did
not, the officer was no. legally liable
We have directed the sun upon Mr. Npf
singers bond 10 be dismissed. 1t is prop
er to add, that. from December, 1855 until
January. 1857. he supplied funds 10 the
amount OF these bills. al his own expense.
and without any charge to the Safe.
EDITORS PALLADiUM:-At the close OF
my last weeks letter there are some remarks
witch tie reader would very likely construe
into an opposition on my part to all CON-
} promises with secessionist, or their symp.-
thizers, and as | desire to be ptc~d right
upon the record. will beg the privilege,
, lnduiged by so many now-a days, to ex
press my opinion regarding this matter Of
, compromises
deem 1t to be the duty OF the Republi-
, can party TO deal honestly, openly, aud
frankly with the hostile spirit that has az
"a ed Itself against il, and finaIly against
the Government- Every effort iu the pow
> er OF the party and the government should
be made 10 inform the Southern mind - and
J the Northern mind too-in respec, to its
. principles. intentions and purposes. aad their
: effects upon the country when honestly and
inseligendy carried out No opportunity
, should be neglected for driving home the
: conviction that no right guaranteed by the
. Constitution shall be withheld from any citi-
t zen, North or South. that the Government
: will contine itself 10 the old land marks. and
pursue the line of policy laid down by the
o fathers of the Republic. Courtesy, for
Q oearance and fraternal kindness should be
extended, even in the midst of deser. ed
chas'isemeni. as also sufficient time for re-
}, nection, all this ought to be done; but the
0 republican party can not. without degrada-
oon. yield one principle Of the series that
. entered into the canvass which resulted in .
TAR and constitutional election of Mr.. Lin
coin to the Presidency of the Nation. /
am' them opposed to compromise for ever
: 90 many reasons. only two of which | will
give and submit the question