The New York herald., 1867-04-03
FORTIETH CONGRESS-.


WASHINGTON April 2. 1857.
RRvmroN LAWS or TIM DISTRICT or COLUMBIA.
Mr. HARLAN, (rep.) OF Iowa, introduced resolution
which agreed that the Committee on the District
OF Columbia instructed 70 prosecute the revision Of
tho laws Of said district authorized by the joint resolu
son Of June 1894 that they have Iosve to SIT during
the recess OF tho and 70 employ assistance not
DEYEscx or SENATOR rHoxAs, or MARYLAND
Mr JOHNSON, tdem.) Of Nd rose % what be supposed
the senator from Michigan Mr Howardh after the crs
denias OF his colleague (P F. Thomasj had been pro-
70 reoor, made by the Bank Of Commerce Of New York.
addressed 70 it's Shareholders and dated March II, 1862
in which was said thai up to the close OF December OF
the evcntful year lse0 the interest on the stocks
OF the Uriicd States falling duo ON the LIST
OF January succeeding had been for the nrss
time left unprovidcd for by both Howell Cobb.
the Secretary the Treasury, and Philip r. Thomas, his
temporary III that Office No efficient measures
20 make suitable provision therefor had been taken by
either though the funds were in the Treasury here.
The report adds:-"Thcrc was evidently wicked and
reasonable pic, disgrace the credit OF the United
states by Gcfan In the payment OF interest on its stocks,
by to provide the officers OF tho army and
navy ard tho civil and diplomatic list, including the
&c Mr. johnson then proceeded say that Mr. Thomas
came 70 this CITY the invitation OF President Bu-
chanan 10 accept the Office Of Commissioner oi PATENTS.
which he held Tor more than year On the resignation
OF Howell Cobb which took place on the ilth OF Decem
ber Mr. Thomas was requested by the President 70 accept
he was appointed on the 12tn Of thai
month. He remained In Office until tho l2th
or 18th OF January succeeding, when he resigned
When he came into the department be found the
Treasury almost depleted and there was hardly money
enough to meet the daily wants ot ine s9.ernmen, %
lions of dollars and for tho issue OF Treasury notes
Under authority Of that act the Secretary issued pro-
on the 9th or 2sth Of December he found that the
Bank OF Commerce had subscribed, or was willing TO
take a million and half at q discount Of twelve per
cent AZ that time the public debt did not exceed
some seventy millions OF dollars Mr. Thomas directed
Mr johnson 70 say the moment ne saw inc e1oro'ans
public debt fell duo In a few days-that was on
the 1st Of January-he delbera,cd as TO accepting
the bid; while he was thus, and before he bad
decided the late cashier Of the Bank OF tho
Metropolis Mr.. Richard Smith. correspondent OF the
Bank OF Commerce, brought to the department des-
patch from the latter bank, saying that II would
take all the loan at the same rate, namely twelve
per cent discount This made him hesitate iho more more
than run the hazard OF letting the government credit
suffer failure 10 meet Its obligations be agreed to
accept the bid and the bank advised. Mr. john
son then alluded TO Mr. Thomas correspondence with
Mr. Cisco on subject by which appeared that the
sum OF ave million dollars The secretary Of the Trca
sury successfully arranged for the payment OF the In
falling due In January 1851 at New York, Phia
dclphIa. DaltmoP, Charleston, Savannah, Nov Or
leans and ~. Louis, and was punctuay paid. II
would be seen. from official data, that the Bank Of
deacenc,es, did nothing more than comply with the
terms OF oppressive contract which the necessities
Of the government had forced IL TO enter into. The
statement Of the report OF the Bank OF Commerce
not supported by q particle OF evidence. When tho
statement made by his dr. Johnsons) friend from
Michigan (Nr Howard) the gentleman whom II most
anee ted Mr. Thomasl was absent At Annapolis. Mr..
Thomas iher 7-ote TO the present Secretary OF the
Treasury FOR o,cal data 10 defend himself against
baseless SANDER Tho Secretary directed the infoma
ton asked by Mr. Thomas 70 be furnished, and in tho
letter OF Secretary McCuloch he sad that nothing
pears In the records OF the Department showing q
want OF fidelity the part OF Mr.. Thomas In
his administration OF tho alta RS Of that Department
Mr.. johnson repeated the documents were conclusive
upon the subject. There not the slightest tusthcn
for making the assault Mr.. Thomas. and least oI
all by the Bank OF Com morce, which specuaor
debt OF the United States did not exceed seventy m.
lions OF dollars To defend himself from these Assaults
Mr Thomas desired letter TO be read Ine ,es, mss
read accordingly. Some parts were IN SUBSTANCE oo
prsed In MT. Johnsons remarks to-day nc ssys @ ne
never heard OF the report OF the Bank OF
t IL produced by Mr.. Howard inat ne sucsessluy
upheld tho credit OF the United sa.es aua ssscu
through Mr. johnson, full inyesrsanon u tne ~noie
subject by the Senate ,-.. - ,.x--
Mr. HowARp, frep) OF Mich replying 70 MI. Johnson,
said that his object in presenting the staten ent OF the
Rank az Commerce that II might bc lad before the
Committee on the Judiciary in order that, With such
facts as could be obtained, II might .pur.
sne the inquiry. He did not thst time,
aord win regard TO Mr. Thomas TO prejudcs his clam
IN = seat in this Chamber his standing before the
country He declined occupying the position OF pros
ecmtor or He repeated, his Efforts were only
20 enable the Committee the Judiciary 70 ascertain
the facts the But there was one statement In
the letter OF Mr. Thomas which struck him with sur.
priaa hs had not seen the report OF the