The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1881-03-15
JonN l.. CRAWFORD,
+. {. HOWE,
On part of the Senate.
+. II. CHADWICK,
j. Is. BRowN,
part of the Assembly.

This committees after full investigation, made the time
when all these transactions date and fresh
the minds of all interested report that cit evident that
Bayne & Go. agents of tie State" This whole
subject is more fully treated and in detail explained in
the Comprollers report of 1874 found in appendix to
ais of 1874 pages 81, &c. IT |I9
will only add Of the law authorizing is
of the bonds prohibited the appointment of agent that
claim might be made against the State had been done
previous nstance by any for negotiating the sale of
any the bonds and that the should lose control of
them and it occurred to me that appointing
agent when accepted Bayne Cos offer to all in selling
the bonds which in the meantime remained in the Comptro
es safe Tallahassee. In similar should have
cepted offers of aid fifty different individuals had their
services been rendered. IT,.
The committee further that their opinion
violated by me-
"2d In not selling quarter million bonds and
deposting the money with the State Treasurer his
credit required in the law condition precedent
levy of tax for the interest |
3d In exchanging these bonds for the hypothetical bonds
of 1868 and 1862" ..||
charges may be considered one and that
did not redeem the hypothetical bonds with the cash derived
from the sale of the bonds but exchanged the latter d.
recy for the hypothetical bonds The facts concerning these
transactions very plain and should be easily understood
Gov Hart and myself agreed to pay Bayne Co.. $GO
for the hypothetical bonds their possession amounting
$299 of bonds with ued coupons the value of
900 and Bayne Co. agreed to purchase from the State
$2 $1,000 of bonds at 80 cents the dollar To
speedy and accurate contamination of this agreement
New York. received the Hypothetical bonds and
delivered the sold bonds. N IFI
with proceeds Of the sale of bonds
being Is than they had at first agreed to buy, and
charged him with the drawn by the said Treasurer
upon the of the Comptroller, thus the law auhoz
ing the issue of the bonds literally complied WITH
CARDS that part of Sec which says and of the proceeds
to be deposited with the Treasurer 10 hs credit the Treasurer
shall pay the necessary redeem the bonds of
1868 and 1869 from hypothecaton 1t seemed TO me to be
folly bring the money, required redeem the bonds n.y.
pohecated in New York. from New York Tallahassee when
would have been necessary have Immediately transferred
it back again New York. especially the law,
plating the necessity of redeeming the bonds in New York.
provided that the money might be deposited to the credit Of
the Treasurer. II
BY reference to the Teasurers report of January 1874
found appendix Legislative Journals Of 1874 page 1885,
will be that the charges himself with 1912
of sale Of bonds of lS73 and credits himself with
1901 for redemption Of hypohecated bonds of 1868
and 1862"
Section 10 of the bond reads follows The Comp
toer is hereby authorized and required hold five hundred
thousand dollars of the bonds hereby authorized for the
pose Of exchanging for and redemption of the valid bonds Of
the State and for this purpose he hereby authorized with
approval of the Governor exchange the said five hundred
thousand dollars of bonds at par for like amount of the
principal and of the bonds be redeemed the
being computed the date of the bonds be issued but
the following described bonds shall be redeemed ow
Bonds held BY the Seminary and School funds the
bonds issued under the act of January 49, 1871 the bonds is
sued in aid of railroads. and bonds of 1868 and 1862 hypohe
Gated the City of New York elsewhere and when any
bonds are so exchanged or relieved from hypohecaton they
shall be returned the State and be Immediately cancelled and
will be that the exchange bonds authorized
in this section be made for the old nonhypohecated
bonds with accrued interest," and this kind of exchange
that specifically forbidden be made for the hypohecated
bonds Had exchanged equal amount of the bonds for
the hypohecated bonds with the accrued interest added there
without reference to the amount actually chageabe against
Them then so,d have violated the law deem it
say for these charges action
reference thereto fully considered and decided upon by
the Supreme Court of the State the of Cheney Jones'
found in IA Florida Reports pages ee &C., and the Chief
Justice entirely from the charge of violating the
law in the following language "The bill alleges that
fourth of the bonds have been solo, that the Comptroller
the dollar whereas in fact Bayne Co have taken
bonds at 80 cents the dollar in pursuance OF agreement