The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1872-03-01
A StfckinG-PIa>fer for the '.BuIIy
Boy"
Hon. RObt. Lowry's Scathing
Report.
MIR. SPEAKER I:

.
| which passed the House on the Bird inst. 10
| obtain information from the State Treasurer
| concerning the deposit of the proceeds of
| the Agricultural Land Scrip which was
directed to be made with him. not being
| able to concur with the majority begs leave
! TO submit the following report:
| 1t is proper TO state that Immediately on
| the passage of the resolution of inquiry. a
| majority of the Committee (the undersigned
| being Chairman applied to the Treasurer
| as directed by the House. and ascertained
from him that neither the scrip, bonds nor
| any evidences whatever of the negotiation
| referred To- were in his keeping. Nor
could the Treasurer give any Information
concerning the same.
a report was prepared i'm accordance
Herewith, setting forth the additional fact
that it had been announced in the official
paper of the State that the late Governor,
Hon. J. l.. Alcorn, had four months previ-
ouSIY drawn the Scrip and sold il for 8 49,
| ton could be obtained in reference to the
| transaction.
The report received the approval OF an
other member of the Committed Hon. j. j
Spelman, in addition To the undersigned,
but that member subsequently withdrew
his assent. From the date of the passage
of the resolution untilt the present time tile
undersigned has not been allowed the
! opportunity to submit the facts TO the House,
notWithst ding his repeated attefn pts to
do so under the instructions contained in
the resolution that the Committee should
report instantly.
The CORES pondence between two members
of the Committee and Hon. j. L. Alcorn,
is submitted As the main feature of their
report and will therefore be briefly re-
viewed. While it is insufficient and unsaJis-
factory as an explanation of the official
conduct of the late Governor in the discharge
OF the high trust contided to him. it affords
conclusive evidence that he has failed to
comply with the law passed by the Legisla-
ture for his guidance. The majority have
assumed that the law makes il no part of
the duty of the Treasurer TO have anything
whatever To do with the scrip or proceeds
thereof in money, but simply requires him
to hold in trust such bonds as may be pur-
chased with the proceeds of said scrip; but
the majority have overlooked the absolute
direction TO the GOVernor-that the scrip
should be sold for cash. and that its pro-
ceeds should be invested Immediately after
its sale in bonds of the United States, etc. ;
and that the said bonds. after having been
thus Immediately" purchased. should be
placed for safe keeping in the custody OF the
Treasurer, (sectiOns aud ;. act of May ID
lS7l), and that officer would have been the
custodian and only custodian of the pro-
ceeds in case the law had been com piled
with.
In his explanatory letter Ex-Governor
AlcOrn states that the scrip was sold on the
2lst of September last. to Geo. r. Lewis, of
Cleveland, Ohio, at NINETY cents per acre,
in three, six and nine months" This was
a palpable violation of the act of the 18th of
May, 1871. 1t directs that the sale should
be made for cash. The late Governor
states that a portion of the Scrip WAS de-
posted in Cleveland, and another portion
in New York, and that still another portion
WAS deposited in Bank (what bank is not
explained subject to the check of the Gov
ernor. This proceeding is another violation
of the law which required the Governor To
invest the money immediately" after the
sale of the scrip. in bonds bearing not less
than five per cent interest.
The law having required him to make
this investment without deAy. his retention
of the cash proceeds was without justiiica-
ton. The undersigned has failed TO dis
cover in the report of the late Governor any
sufficient explanation of his failure to COM
ply with the instructions contained in the
law by which it was his duty to be guided
in every particular
The late Governor while falling to show
that he was invested with any discretionary
power whatever by the law authorizing
him TO receive the Scrip and convert its
proceeds into bonds, admits that he did de-
part from the law when lie states that the
| funds realized were not converted into
| bonds in consequence of the failure of the
last Legislature to pass "A certai:. bill which
I he ASSUMES to have been needed. 1t must
I be conceded that this is a most eXtraordina-
nv proceeding. Ii is the arbitrary assump-
tion of an agent OF the State TO set law at
/ defiance and to refuse to be guided by il on
| the alleged ground that a coordinate indie
| pendent branch of the Government had not
performed an act that in his opinion deVOlved
( upon it. and the re;tson for such action is no
| less arbitrary than futile aud indefensible.
| It is assumed that the legislation required
l''was essential t. the proper and profitable
| investment of the money!" Clearly the
! "proper and profitable" investment would
| have been in bonds of the United States
/ bearing not less than five per cent. interest
/ (act Nav 18th, lS7i) The fourth section of
/ the act of Congress making the donation
| expressly declares that 1.-THE scrip" shall be
invested in stock of the United States or
some other safe stock yielding not less than
4 five per cent. interest on their par value.
! 1t is vain TO assert that any additional
| legislation to that of May 18th, 1871. was
1 necessary to give effect TO this provision.
The fact will not be questioned that the
/ United States bonds OF the description could
/ have been bought without the least delay,
/ nor will it be questioned that bonds of the
/ United States would have been the safest
and the most proper and profitable" in
vestment. The law of Mississippi directs
I that the investment should be made s'imme-
/ diately" in United States bonds or bonds of
/ the State, and the act of Congress requires
that the said bonds should be at par.
/ 1t is evident that in the present embar
/ raised condition of the finances of the
State (''when benevolent institutions will
sood be Obliged to suspend operations. and
/ the officers of government who depend upon
/ salaries drawn from the State treasury, will
themselves become subjects Of Charity
Gov. Powers message, Feb. 20, 1S72)-the
Withholding of the funds to await the
probability of additional legislation for
4 the purpose of investing them III her secu-
rites was not only violation Of the law OF
/ the Legislature, as before shown. but was
an act of bad faith 70 the power making the
/ grant, it having been expressly required
that 1.-The investment. should be made in
stock yielding not less than per cent. on
/ their par value"
1t will occasion surprise that the late
Governor. in his letter embodied in
the report of the majority, denies that
he had asserted that the sale of the scrip
| Ito quote his own phrase) had been made
s.for cash in hand.- The answer TO this il
contained in his speech as published in the
| official journal of tine State on the 18th Ol
/ October last, in which the fact is clearly i'm
piled. And it is also contained in the fol-
/ lowing distinct announcement in the Off.
| cial journal of October 2lst: s.GovernOl
Aleorn was employed TO go 70 Washington
to receive and TO receipt for the Agricultu
raj Land scrip, dispose of il the best h'
could. and was allowed five hundred dollar
| for that service and to pay his expenses
Well, he went; received the scrip; went q
New York and sold il at big rates-got $lS9,
600 for 100000 acres of Land, and got bacl
| to jackson aeitk the money In ten days, ant
| did not speHd all of the five hundred dollar
| ither." (Leader. Oct. 21, 1S7l-l
1t may be added that the announcement
that he had sold the scrip would necessarily
siderafi0u was sscashs la hand. for the rea
son that the law above quoted made
obligatory on him 70 dispofe Of il on thos
Il terms. without any other sAc0muitiou what
1 eVer. or THE possibzli tp ut misconatruim
- Language. Any k111er Inference coG