The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-03-11
Rirtmnnn Dispatrb.
MONDAY MORNING i. MARCH IL. lss,
REPLY OF Ex-sncRgraRY FLOYD.

otcH fife asSef ton that he ever Acknowledged
Ex-senator Benjamin that the accept..uces on
the war department., given by him to Major
Russell n Co, We're iihngsi for he never be-
Hev"d they were. To show that they were
legal, he addaces preceaents of former Sccre-
tar'es in various departments OF the Govern
ment, and shows that during the war with
Mexico they We're issued to the amount of
81 oo6, 600 Showing the necessity Of giving
them to the contractors in the case in point.
he says.
1t was plain that they could obtain credit
only upon their contract and the acceptances
L gave seemed the only mode available of pro
viding them with the means necessary for
their operations, The house of Russell, Ma
Jors and Waddeii was universally esteemed
throughout the West inferior to none ell h
or IN capital, credit or character This firm
htd, by Its promptness, efficiency aud far
dealing, won the confidence OF the Govern.
meni, an whose service IL had been since ls4s
1t was, therefore, under the circumstances
no imprndence even to conflde to them the.
important trust of taking care OF their own
credit.
AT the time the first of the acceptances were
given. there WAS deficiency of funds TO pay
Tor the operations of the Quarlermas ter S DE
partment, for the fiscal year preceding that
oil my coming In To Office besides which fact
an extraordinary outlay, in advance of appro-
prIations was necessary for the ex pedition 10
Utah; a.d these first crptances were given
over, trains OF these contractors, laden with
army supplies, had about that time been de-
etroyrd oy the Mornons, in pect TO which
catastrophe the accounting officers of the Gov
ernineat were bound OF course, not only TO
refuse payment OF the trans por ia ton money
earned, bat TO withhold also The value OF the
supplies on hand out OF otaer dues OF the con-
tractors, who thus lost not only their earn.
ings, bat the value of the goods for which
they had receiptsi, az well as their teams ana
stock. This loss, res uiting from The act OF the
pablo enemy, and justly chtrsr3bie upon tue
Government, could only be matte good by Con
gress.
The President, Mr. Buchanan, was right,
ana raid trniy To AIR. Benjamin, that ii sir
Floyd had given these acctptances, they
were, no doubt, right and proper. 30 they
were they were In strict conformity to law
and they enabled the War Department l., en-
sure the Maintenance of the army ut points
more man a thousand miles beyond the Dor
oers OF our white settlements with rs much
. certainty and regularity as II they had been
stationed In ordinary frontier posts. And /
assert, without contr.,dic ton, that such resu-
itrlty and certainty, III furnishing supplies OF
every sort 10 large forces so remotely pos ted
At rates SO economical aud under diiiicultie,
80 imposing, were never Witnessed before in
The history OF any military movement ON the
globe. Mr.. Buchanan might We'll say the
iran action was right and proper.
THE AMOUNT OF AccEprAxcEs.
me total earnings OF the years 1855 1889
ls6, and those estimated tor 1861 were A5 :
X
traordinary character which Congress aioae
ctn allow. On the other hand, the accept
tnces which / gave to anticipate these earn
ings, excluding those which were returned to
the department unused and cancelled WAS |
-, 1856 $500, 900 less than the earnings |
TAU the amount of the accaptanc-s that |
were given during the three years is due solely |
10 the unprecedented III tgnituda of the ser. |
vice performed. The committee for sensa-
lion purposes, endeayor 10 produce the i'm |
preston that these acceptanees We're all out
standing atone time, ami are still outstanding
liable to come against the Government for
pay ment. As we'll might they have coliec tad
up all the bonds which the Government h ID
Issued from us beginning, including all that
hiu oeen paid ana cancelled, and declared the |
grand total 10 be the debt OF the nation - |
Iiiey htd abundant proof before them that
THESE acceptances, Tor which the Government |
had at ali times security IN the amounts ac- |
cruihg 10 the contractors, Were all paid by |
them AS they matur.d until September last
ana they confess, i'll another part of their re- |
port that, deducting those which were put
INTO the hands OF Bailey by Russell, ana |
winch immediately cancelled on discovering
the ~ rversion, there were bat 1915 900 OF them
outstanding known 10 the deplI tnent which
would of course receive notice OF them All -
('-ducting $4,000 from 81 AS 900 leaves
S5'5,UOO The committee were bound TO ad-
mt this TACT, but they cover up the admission
III "slhSenuous Yerbiage which conceais it
iFom the pubic. The committee could aiso
nave learned, If they had pursued their in.
qnifles far enough TO embrace the whole truth
mat the outs landing acceptances had been
provided by the contractors in an assignment
OF property believed to be ample for their pro-
l"ction, and that no ultima te loss TO the Gov
eminent Is likely 10 ensue on account OF them
.haeeu, that large portion of them had been
secured by double assignments. Thus the
coMmtttee's mdgn f.fcent bubble Of sir or serea
mattons Of dcceptances, iikekU to fdy mon
ne toeernmest, c0tldpses under the touch Of
Fth 20 less than sic hundred thousand Sc
cured By Gssighaiento Of 0perty ampLeto coUer
the debt. Unless cotuntariiy adcanced on Con
grtss, mot one dotiar IF loss cum .fult upon the
Government, tChere the committee re,1ort sir
millions II the Government shall De,.,nit the
earnings Of the trains for 1861 to be applied
10 theSe outstanding dcceptaRceS, they totU be
Pa'd oI ~ttaoutrecourse to the assignments.
DECLARATIONS OF MR.. BENJAMIN.
1t is charged that promised Mr.. Benjamin,
a year or more ago, TO issue no more accent
ances. / could not have made a promise m !
restrict my official discretion in a matter in
IolVing the existence of ten thousand people
simply expressed 10 Mr.. BENJAMIN as | y
would nave expressed To any other gentleman |
and friend, intention TO accent no more a
which entertained at the time. The policy {
was always intended to be temporary and /
was repeated simply because the necessities L
lor DONG so repeated themselves. | could
very easily nave explained to Mr.. Beniamin q
u 10 lhe committee even, why the determine |
ION hao come TO not to give further assist J
lain against the Government amounting To /
very large sum, as already shown II was
1eiieVeo that Congress would direct it's pay =
nent III 80, they would be in funds to exc.
ute the next seasons work without help \
ne appropriation failed. The season for trans |
'ortatlon came Their embarrassmpnts
continued. and the credit of their contract. in
III aFaisoie form, became essential TO them
II order to enable them To supply the troops l
Upon he plains. For these reasons again
lnOrueu them the assistance asked for
, ne committees own citations from Mr. "
oenlamin's testimony do not sustain the de-
'hrations TO him which they put into my
mouth. ~ ~ my
THE LAST AccEPrANcEs.
am charged with issuing acceptances in -
Do ember to the exact amount of $50 0O0 IL
ha, were put by Mr.. Russell into the hands
Bailey. For reasons already stated gava
o Mr. Russell, during the MONEY srrinrency
" last TALL conditional acceptances To the
mount OF &6a3, 900. AT his request. l after.
wards gave him another acceptance for %
'lao'oo; ms amount made but s79s, 900. 1t
VAS with old acceptances, given as far ',
'aek AS september and Oct ber, which he had
lot Yet negotiated, that he made up the .
mount OF $50, 900 put into the hands Of Bal .
ey. a
THE SUPPOSED RESULTS OF PROTEST. IA
Much is made of the fallacious supposition o
nat, II the acceptanees l gave these contract
re had gone TO protest, should have been e
citliy disgraced and have had TO re tire from II
ne cabinet The acceptances were legal and
we're demanded by the interests of the public N
eTNice. The protest OF them would have Of
zen annoying 10 me, and have subjected the
service 10 emharras sneut but j
urther than that the simple consea uence u
QUO nave been An order stopping the pay
ehts IIoin the Quarterlnasiars Department Ia
'he contractors. To suppose any grayer q
ohsequence, was very egreg ionsly TO rxaepe-
ate the case. Acceptances did 20 to protest OF
september, and stiil remained In the Cab d:
net mus the impute ted object of the ,bstrac Iii
Ion of the trust bonds PROVED; To- he IA ii,cinas
'ut still the abstraction went on We, -.