New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-04-03
NTH CONGRESS-ExTRA SESSION,
Ut TELEGRAPH TO TIVE TRIBUNE.

REVISION OF THE DISTRICT LAWS. H.,
Mr. HARLAN (Rep, Iowa. INTRODUCE ~ ne No. ,int
which was agreed tO, that the COmlntee vi D 90 ~,
" 10 instructed TO prosecute the revision OF thc
laws Of said District authorized by the JONI ~, n The
lime 1864 and that they have leave 10 gu uns ,iT
o me Senate aud to employ assistance not exceed
ing $40 a day. non r,o,,,s
Mr. JOUNs0N Dem Md rose to what he supposed q
prvilsced question He said that the 2th of March
deutals Of his colleague P f. Thomas had been pre-
sented referred in the debate eOnsequehS tncSu
rennrt made nv the Bank Of Commerce OF Newfofk a-
dressed IN III Shareholders and dated March ~ lS62 IN
which il was said TO the close OF December OF inc
M $50 the interest the stocks OF the United states
falling due on first Of January succeeding had been
for the first time left unproyded for by both 9we CIno
The Secretary Of the Treasury and Philip f. Thomas, MS
temporary successor in that office. No efficient meas,
make suitable provision therefor had oeen TAKEN
by either though the funds were i'll the treasury mere;
The report adds: "Thcre evidently wicked and
reasonable plot to disgrace the credit of the United
states by default in the payment OF interest ON its stocks
by ncglectg provide for the officers OF the army ana
navy and the cvil and diplomatic list including the
salaries due TO members Of Congress then In session etc.
Mr. johnson then proceeded to say that Mr. Tholnas
came IN hs CITY on the invitation OF President Buchanan
to accept the office Of Commissioner Of Patents, which
Howell Cobb which took place ON the nth of December,
%ry. and he was appointed ON the 18th OF that
month He remained in office until the 18th or
18th Of January succeeding, when nc les ae
ury almost depleted and there hardly money enough
TO meet the daily wants Of the Government Sohgtss
passed an act authorizing loan Of O0Oo and for the
ssue of Treasury notes under authority Of that act the
SECRETARY issued proposals for part Of the loan When he
opened the bids on the 27th 2th Of December he found
that the Bank of Commerce had subscribed willing
To take 81 100000 at discount OF II per cent AZ tat nc
the public debt did not exceed some S00O Mr. IhOnas
direct ed SIR Johnson say the moment lie saw the eA
Orbant bid ne hesated but knowing the interest on INC
public debt fell due in few days, that was on The Isl OF
January he deberated as To accepting tIe pa "nc
he was thus deberating and before he had dGeded s
late cashier of the Bank OF the Meti0pols, MI to t
Smith, correspondent of the Bank of Commerce brought
to the Department dispatch from the Latter o a sy
saying would take all the loan AZ the same rare
per cent discount. This made him hesitate the more
lie thought 1t was very PLAIN spee9atol, nu Gt
than run the hazard OF etlng the - -,
suffer from failure TO meet lie obligations he agreed 10
accept the bid, aud the bank was so advised MT john
then alluded to Mr. Thomass correspondence Win
Mr. Cisco that subject by which II appeared tat INC
Of s5OO0O00 The Secretary OF the treasury success
fully arranged for the payment OF the interest falling due
Charleston Savannah NewOrleans and St Louis, and IL
punctualy paid IL would be seen; from oIheial
data, that the Bank OF Commerce, which claimed the
credit of supplying his deficiencies, dld nothng
more than comply with ihe tellhs ol an t Tp
Government had forced it to enter into The state.
ment Of the report OF the BANK OF N9neroe Wss nut
was made by his (Air JOhnsOnsl friend from Mlchlgah
INF Howard, the gentleman whom il affected Mr.
Thomas) was absent ut Annapolis. Mr.. Thomas then
wrote present Secretary of the Treasury for Official
data TO defend himself against baseless SANDER The
Secretary directed the information asked by Mr. Thomas
furnished and in the letter OF Secretary McSuOh
he nothing appears in the records Of the Depart
ment showing want Ofidelity the part Of MrThOmas
in administration of the affairs OF that Department
on the subject There not the slightest justification
for making the assault on Mr. Thomas ana SasI ol All ny
the Bank Of Commerce, which Speculation on the
Government, asking IL per cent when the debt OF the
United States did not exceed $000o0o0 TO defend MN
self from these assaults, Mr. Thomas desired letter 20
be read The letter was read sec9rdlngy some paris
were III substance comprised IN M JoiV t ~ e
to-day. He says lac never heard OF me report OF uS
Bank Of Commerce until was produced ny MT HOWARD
Tint he successfully upheld the credit OF tie united
States and asked through Mr. johnson full myestga-
ton Of the whole subject by the Senate.
cod hat lis ohict In presetinR The statement of the
Bank of Commerce was that II might be lad before the
facts as could be obtained il might pursue the inquiry
He did not at that time nor did he now desire 70 90
prejudice claim seat in this Chamber or his stand
ing before the country. He declined occupying the
position Of prosecutor accuser He repeated, ms
efforts were only to enable the Committee OF the
Judiciary to ascertain the facts in the case But there
him with surprise wiz that he had not seen the
report of the Bank Of Commerce. This document was
printed the 18th OF May 1862 and the presumption was,
Il had considerable circulation 1t was singular that
charge that Mr. Thomas had been guilty OF reasonable
conduct emitting make arrangements for the pay
ment OF interest Of the public debt was never seen by
him until short time ago, when IL produced IN the
Senate and which had excited the gentlemans surprise
But extracts from this same report were puphshed ia
1862 1862 '" He nIr Howard held N his hand the sip
from that paper Il the gentlemen was deeply greSe yea
slept the information for nearly five years and had
never opened his mouth to say one word by way OF re-
the attention of the Committee the Judiciary TO the
fact that for all that time the gentleman had remained
MI. JOHNSON replied, saying he did not find fault
with the Senator's but that the Senate In noticing
the fact that Mr. Thomas had but recently seen the
charges Of the Bank Of Commerce, made use Of such
terms as to convey impression he did not credit the
statements of Mr.. Thomas He (Mr Johnson supposed
the Senator would not mpngn the gentlemans yeracy
unless had evidence TO warrant him In coming 10 that
conclusion IN CONCLUSION, Mr. johnson said Mr. Thomas
left Washington In April 1861 and retired 70 his farm In
Maryland subscribing TO no paper but The baltimore sum-
and never having seen The National Inte0eer while he
remained here. He moved that the letter OF Mr. Thomas
asking for full be referred to the Judiciary
Committee This agreed to- and the Senate went
into Executive session. and after several hours occupied
therein adjourned.