The Sweetwater enterprise. (Sweetwater, Tenn.) 1869-187?, 1870-06-23
THE SCHOOL FUND. .eia
A Card from Senator BrOwnlOw-
What he Claims to Have Done.
FrOm the KnoxYille Chronicle.

- N~N NN~---N
in nearly every paper in the State, pro-
pose, in very. brief publication, to make
my report ll1oi Hi of-..d uaH
Soon after / was inauguratcd Governor
of the State, the Federal army, at Angus
ia, Georgia, captuaed upwards Of four
hundred thousand dollars in Specie,
which was in charge of the officers of the
Bank Of Tennessee. 60 This money was
brought by rail to the depot in Nashville
and turned over to me. L hauled it to
the capitol and had a strong military
guard placed over it. .H"t..t' \
The Legislature, as the journals where
of will show, directed me to dispose of it
to the best advantage. 1 accordingly sold
the specie to Jay Cooke & Co., for 7-3O
United States bonds, receiving upwards
Of six hundred thousand dollars. These
bonds carefully deposited in the large
iron safe in the Comptroller's Office in the
capitol, and I considered then, and consid-
er still, that Imade good exchange.
These bonds, it turned out afterwards,
were secretly conveyed to the Memphis
Bank by Treasurer Stanford, who had
made arrangements to that effect with
Rutter, thePresident of the bank. The
FIRST intimation that ever had of the re-
movol of these bonds to Memphis was Civ
en- me through letter received by SEN
atOr Bosson from Memphis. instantly
sent a brief message to the Legislature,
then in session, informing that body Of the
fact and denouncing the outrage. The
Legislature directed me to recover the
bonds if possible, giving to me plenary
powers in regard to the mode by which I
should attempt their recovery.
I accordingly selected from the two
houses committee of men universally es-
teemed as reliable and discreet. This
committee left for Memphis on the first
train going to that city. The committee
succeeded in recovering about half the
amount in bonds and currency, which they
brought to Nashville and deposited with
the Comptroller ..f., ,s.s... .i, ,6se
These facts, and others equally as per-
tinent, connected with this subject, will
be found in the Journals of the Legislat-
ure, where full details and particulars are
given. a......,..a.r..,
Whilst | consider the Memphis Bank
one of the lawful receivers of taxes and
dues coming to the State, after its selec-
tion for that purpose, do not consider
and never did, that the Bank had any
right to transfer these bonds from Nash
vile to Memphis, and the clandeslins
manner in which the transfer was made,
shows that the State Treasurer and Bank
took the same view of it, and hence kept
their movements concealed.
Mr.. George r. Rutter, President of
this Memphis Bank, passing through Wash.
ington last winter, sent me, through the
Postoficc, the following letter. 1t lis pro-
per that state, this letter was sent me
without any solicitation on my part or any
expectation of receiving any such epistle !:
"WAsHINGToN, Jan. 81, l8T0.-Hon.
W. G. oBrownlow-DEAR SIR: l have
just read speech delivered in Congress
on the 22d inst, by Hon. W. B. Stokes,
of Tennessee, in which he very unjustly
indicates that you we're identified with the
unfortunate fund known as the "School
+ und of Tennessee and thus casts re-
Election upon you in this matter. d,
GAS matter of justice to you, and
from the high esteem in which my father
held you in Virginia, before l was born,
feel it my duty to yourself and your
friends, to make candid statement sub
j ject to such use as you may see fit to make
! oft. i'G ias'e.I sEl' q ''4' .
"As | understand it, some 100000 in
gold and silver, was captured from the
Confederate Government and returned to
you while Governor Of Tennessee, and by
a judicious Investment on your part, in
! 7-30 United States Securities, it realized
over 100000. nd;
! "After most searching investigation Of
! this matter, after these bonds had been
deposited in the Tennessee National Bank
at Memphis, BY the Committee of the
Legislature, it appeared that neither you
or any member of your family had aught
to do in placing this deposit in this bank,
either directly or Indirectly, or that you