Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1861-02-14
THE REPUBLICAN.


TIE NasissaA Tseasury.
The following exposition Of the condi-
ton Of the Nstional Treasury. we find in
the PhiladelPhis Lnqxirer. The facts are
taken from the recent communication. says
the Indiana Journal. Of Mr.. Dix. Secreta-
r. of the Treasury. to Mr.. Sherman. Chair
man Of the House COMMITTEES of Ways and
Means. We commend il to the careful
perusal Of the member from Marshall and
Starke, and with him let all unite in
"7Aanlisg God fsaf The Democracy hare
ruled the country for tie last fAfrty years."
First is the public debt. On the first
dsy of January, 1861. the public debt of
the United States amounted TO sixty three
millions seven hundred and nine thousand
dollars. Of which nearly forty millions
have been incurred since December 1851.
This is one item Of Cobb's legacy.
Next is the public credit. When the
Georgia financier took charge Of the Treas
ury, the United States six per cents were
sought for everywhere, at home and abroad.
for investment. and could only be had at
about sixteen to eighteen per certum above
their par value. When he went out. the
balance Of q six per centum loan, amount
ing TO thirteen millions. was unavailable.
because it could not be negotiated; and
whsn the Government wanted to borrow
FIVE millions Of dollars in December lart.
il had offers for but trife over two mil
lions, at rates OF interest ranging from
twelve to thirty-six per cent. This is
/ Mr.. Cobb's second memento for his sue
cessors.
Thirdly come the outstanding obligations
of the Departments. legal snd illegal.
overdue, and unpaid. Of the illegal class
none appear to have been issued By any OF
the heads of the Departments, excepting
the fugitive Floyd. Between April 10th
and October 18th. of 1860. he accepted the
drafts Of Russell. Majors and Waddell. ITO
to the amount of one million three hundred
and sixty FIVE thousand dollars. This ID
a pretty extensive seven months business
in the kite flying line. considering that il
was all fraud on upon both public and
private interests. But this one and a
third millions is only the recorded swindle.
There were additional acccptances ol
Floyd. not numbered or registered az tie
War Department. amounting to seven hun
dred and eighty thousand dollars. These
were the basis of the Indian Trust Fund
robbery. and as they were deposited in the
Interior Department. in lieu of the bond,
abstracted. they have been cancelled.
II will thus be seen that illegal accept
ances to the amount Of over two millions
have been issued by the War Department
under Floyd OF this amount there il
outstanding six hundred and forty -6vt
thousand dollars, and this sum is over and
above those connected with the Trust Fund
robbery. In addition to this. there were
legal obligations. overdue and unpaid OF
the FIRST day of January last. amounting tt
two millions three hundred 6fty five thous
and dollars. Thus we have the thirditeu
Of Mr.. Cobb's legacy. .
We now come to the fourth particula
in the above recital of mismanagemen
under the financial administration Of th'
! Georgia Ex-Secretary. namely. the unre
liable statements 10 his estimates and re-
ports. The demands upon the Treasur,
from the first of October. 1860. July. 1861
according to his last annual report are sc
down.
AZ. S7o,9SSs<SS y
F r. IL. H. Ne Cokh