Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1864-03-10

Offering to pay the expeu OF having it
copiel. This list was made necessary by
the existence OF spurious Stocks issued by
Slower, the former Agent. which could be
detected from the genuine only by the
books OF the Agency. To this letter Wal :
ker replied in long, malignant and frvo-
lous communication, in which he assailed
the Governor, and ended with refusing the
list or allowing it to be taken.
In June they addressed him a second
letter. in which they urged him to pay the
interest on the State Stocks in the usnal
way. by issuing checks to the stockhol-
ers for the amounts due to them. upon
heir house, which checks they would pay
upon presentation, and also expressly ex-
onerating him from all personal liability
or responsibility for the money thus ad-
vanced.
The interest had been paid in this man
ner through the house of Messrs. Wins
low. Lanicr & Co.. for the preceding ten
years. the Agent depositing his money
with the house and checking upon it in
favor of the stockholdcr. n
This proposition was also abruptly re-
jected by Walker. have no language to
express the cont empt and aversion for the
conduct of Walker which must be univer-
sally entertained. No commentary can
add to the intense disgust which it must
, inspire in every honest and intelligent
mind The office of Agent Of State was
created by the Act of Settlement with our
creditors in 1916, to which | have before
referred. Through it the interest was to
be paid semi annually in New York, and
the business of the Agent was to watch
over and preserve the credit OF the State,
and for which he receives salary OF g.
500 year. and $4,000 more for Office and
incidental expenses.
He was not, however, entitled to the
sole credit of defeating the arrangement
made with Messrs. Winslow. Lanicr d
Co. Mr.. Ristine the State Auditor, was
present with him in New York aiding and
advising. and is entitled to share the glory
and responsibility of that transaction.
Walker having thus defeated the ar.
rangements with Messrs. Winslow, Lanier
d Co., the interest on our stocks went to
] protest for non payment on the lst Of Ju-
ly. Their value was Immediately affected
in the market, and the fair fame of the
State again became the subject of doubt
and discussion. Steps were taken to in
form the stockholders, as far as possible
of the true state of the case to proven,
panic and sacrifice, pledging myself tc
make further efforts to effect an arrange
ment for the payment of the interest.
Determined not to be defeated If posi-
bic in the effort to preserve the credit o.
the State, attempted to secure from 9th
er sources correct list of the stockhold
ers, and in this attempt succeeded in No
vember. In the meantime the necessity
for action had become more manifest and
imperious than before. While the Amer.
ican stockholders in general had correct
knowledge of the true state of affairs. and
but few stocks were changing hands OF
being offered in the market, the case wa:
quite difIeicut with our Stockholders ir
Europe. In Europe American politics
are always badly understood. and the prin
cipal fact which they clearly comprehend
ed was that they did not receive their in.
terest. They associated this failure witt
that of 1S41. and began to say that there
was some strange fatality attending Indi-
ana securities, and declared their intention
of sending them back to America, and get
ting clear Of them at once and forever
Such, a measure would have given th,
State a..bad name abroad. seriously affect
ing emigration 20 her borders, and woul,
have been followed by great depreciatio,
and less Of credit throughout the Unite,
States.
Having presented the list to Messrs
Winslow, Lanier Il Co., they promptl
renewed their offer, and gave public motto
that they would pay the back intcres
which fell due in July, and aftcrward
; gave further notice that they would pa
the interest which accrued on the 1st ia
of January, 1864, and up to this time. a
am advised, have paid ont $3.50, ,000.-
The noble and generous conduct of thi
house should and will be appreciated b
the people Of Indiana. and Mr.. Lanier. i
his clear comprehension and able manage
ment of the affair, has displayed net onl
financial ability but broad statesman
ship that should put to the blush the petit
!, and contemptibls management Of State o.
! fcials who for partisan purposes were Wi
| ling to disgrace the State before the worlt
There is another trans action connecte
with the refusal to pay the interest on tn
public debt which must if possible increas
the adherence entertained for it in I'll
public mind. On the = day of Augu.
Messrs. Ristine and Brett. the Auditc
and Treasurer, advanced to Walker frol
I the State Treasury the sum of Fifty thor
sand dollars, to be invested by him in OF
war loan bonds or the State stocks, I
which have been speaking. Messrs. Ri
tine and Brett have also taken from tt
Treasury the sum Of $4,000, with whic
they have purchased Indiana 5 per cen
stocks. making in all the sum Of 500. 90
taken from the Treasury for that purpos
We are here presented with the remark.
!, Bile spectacle Of State officers decidin
! that there is no law by which they can pa
the interest on the State stocks, but fine
: ing law to take money from the Treasur
for the purchase of the stocks themselv,
at price deprecated BY the failure to pa
!, the interest. In what light mnst such
l transaction be viewed among private pc
s snn. IN tba hre;oooe xvorld rof,,ce. ,