Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1862-05-28


diana by Mr. STovER, from the money article of
that paper OF Monday last. 1t presents differ
cfs face to the transaction from that represented
70: us and which gave TO the public. IL APP
pears that $3.50 900 Of the over issues have been
returned and cancelled ard that the outstanding
Irregular bonds will not probably exceed $780,
O00" IL Is stated that arrangements have been
made to retire all that are aioat. The Herald
ssys that "the State Agent. Governor, Loan
Commissioners and financial advisers Of the
State" agreed with Mr. SLOWER that if he would
resire 900 or more of the irregular issue"
weekly, that he should not be exposed. In other
words. that this gross and dangerous violation OF
public trust should be winked at by the high
authorities Of the State, il Mr. SrovER returned
TO. the Agent Of State the "irregular issues
tS.st upon his fulfilling this condition they
would keep the fact Of the irregular
issue secret" So il appears that in
TIE estimation of the gentlemen referred to
that Mr.. STovER's crime consisted ia tie discov-
cry, not IN the commission of the act, aud that so
IA as they we're concerned he could still be
Corded by the public. in fact could go forth to
the world with their certificate a high minded
ard honorable gentleman. According TO this
cole of morals aud administration OF Justice by
our high Officials, if geHtLemaH removes suIrep-
titiously pocket .Ook from another gentlemar's
pocket and its contents the thief is not be
exposed aud Is permitted 10 pass current in the
community A. gentleman. provided he makes
angements TO return the money stolen by in
sediments at his convenience aud fulfIls his con
tract.
II Mr SrovER retires the irregular issues"
"the State Agent. GovernCr. Loan Commissioners
AMI financial advisers OF the State of Indiana,
should invite him tn public entertainment and
tots, him model Of public aud private integ-
rity. and eminent financial ability The New
York Hsraids account of the transaction is
new development of the morals and financial OPP
erations Of the day. We propose that the Hon.
Mr.. SLOWER, "thc State Agent, Governor, Loan
Commissioners, and financial advisers of the
Sttte OF Indiana" should be employed by Mr.
CHAsK To manage our public finances. We notice
bill Is to be introduced into. Congress this week
20 establish a National bank. based upon the
public credit. with the treasury notes for
b isis, and We suggest that the distinguished gen
tlemen referred be placed at the head of it,
Mr. SrovFR could manage the irregular issues"
and the other gentlemen would understand how
TO compromise the matter. in case of discovery
Read what the Herald says:
The event OF the week has been the alleged
discovery oi an irregular issue OF five per cent.
a pi
son. the financial agent of the State. now on the
stsh OF General Fremont. states that some
months since ms attention was attracted 10y the
presentation at the agency of a number OF bonds
ia the name OF party whose interest in the In
diana State debt was, according % the ledger.
less than the amount of the bonds so presented
He thus lei TO inquire into the subject and
the result OF his inquiries induced him to seek
conference with his predecessor Mr. Slower On
being Intercepted Mr.. Slower admitted To Mr.
Hudson that he had issued. without authority a
number of Indiana per cent. bonds. and that he
h,d bypothecatel them for loans Mr. Slower, ~
agent ot the State had ia his possession books ot
bonds. already signed and registered. which only
needed his signature 10 render them u valid
Guilty. IL would appear that his over issues were
chiefly made prior 20 his appointm mt To- the agen-
cy, while he was acting rs clerk and attorney OF
Nj Crt,cns. his predecessor Ia the State agency.
and now member ct Congress from Indiana. Ca
discovering the irtegularty Colonel Hudson had
sev eral conferences with the Governor and Loan
Commissioners OF Indiana, and likewise with Mr.
Slower. aud With the parties who had lent money
on the irregular bonds--the upshot OF which was
that Mr.. Slower agreed. on condition OF not being
exposed. 10 take up S25 900 OF tie irregular
bonds every week. and more. IL he could do
AZ this time Nc. Slower represented thit the
whole ~mOunt ct the irregular issue was some
S2on.oOh lie de~isuated certain parties here
bankers and bruker,--who would act Tor HIM ia
releem'ng aud meeting the irrc sulir bonds In
rer'ly 10 inquiries he appears To have stated ;hnt
he alone was responsible IN the mltter. aud that
tic present holders OF the bonds we're innocent
The State Agent. Governor. Lam Commits
siuuers aud financial advisers Oi the Stateui la
ditua agreed - NJ Stovcr's terms They alel..
Ell them YES e. keen the fact OF the IRREGULAR
issues a secret When any one sent 10 The State
agency u have Irregular bonds transferred. the
State Agent give some reason for delay. aud
sent the irregular binds 10 hr Stovet's biukers
brokers. who te itcesi them by good bonds
The irr 'gular certificates were then hurnel in the
lsesenee ct COLONEL HUDSON and Mr Slower.
Thus matters went on for some weeks, during
which the amount of irregular bonds presented
Tor transfer or redemption. AMI actually with
drawn or Cancelled hv Mr.. S,over's agents .
amounted, not u 500 ON, rs Mr. Slower hid
stated but % 1851 400 or therei bouts aud there
W. ttl-fn TOT hFtfeNfft- thdt q iurtner amount
Has It'll sapat At ths stage in the proceedings
tie .ecret transferred A. hrst ONLY +, tex le td-
w. banking houses were po~~es,iou ct il. and
niade haste a. call in all TIVE i1aus they hnd un
Indiana hves Bui Thursday md Friday 81
lat week t became generally known and panic
Ia Indiana securities eusuel Nesteri ~ al loans
on lndianas were cal'ei We bel eve they were
all fully met Mr. Sfover's agents anne,r fo
have wisely concluled that in the elib ,s.ii,..
position they had no choice lut to take no the
loans on the irregular bonds wheeler their prin-
eipal able 10 re>ppnd or not. \ leidin.
Wal street house. which his had iutimtte con.
uectons With the State Of In lana. states that the
amount OF Outstanding irregular bonds viii not
probably exceed SlO0. 00a Colonel Hudson
thinks there may be SD. zoe. and ptrtie, vino
hsVe hsd dealings With Slower estimate that a les
snm Of money tttsn a01 O10 will retire all the
bord- still uiaoat. aud slat they will lie fully re-
tired in fe~ DAYS
] he hrst idea which tie facts viii naturally
sug gest Q" every one J. that the State or Indiana
praetcaliy recognized the irregular issne and 81
% say, made itself psrts % the Transaction by
Transferring the irregular bombs AMI etan.ina new
and good ones in the place thereof When a
Banker made loan on the irregular certificates
aud. having sent them To the State Ageac, Ion
transfer. received In exchange ne~ and good
huB'is in his name. be had no means OF knowing
that hOcus pOcus TRANSACTION hid taken place
by which the Irregular bonds IA heat. - .r.afI a.