The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1881-03-15
| No. 81
.lU~rae/- Gcaerdl, STATE If FIori,7o:

.lH..-aey- GcaeydL STATE of FZoried:
rI a,, the honor submit your consideration the
wing statement concerning my action in the disposition of
bor * # 7 in reply to the report of committee of the
.i-,aEIr of 1879 adopted by the Assembly, charging
90 conspiracy in the disposition of said bonds and directing
Investigate the circumstances connected with their sale
exchange
The committee appointed January 10, reported the after
March the last day of the session. the Assembly,
port having been made the Senate and that they
given the subject full consideration and investigation
l. appears that except Ex-Governor Reed and
lee Bernard examined by them. never received any
r- them that such examination was in progress,
a., iomcr Comptroller, Hon r. H. Gamble, who
n@ o. tallahassee, and who was c"gnlzant OF many OF the
m Interested IN of the transactions involving the
~ni notified t" appear and give his testimony Had the
re tard hun and myself or even read carefully my re-
Comptroller on the subject doubtless they would have
r,d a different conclusion.
Tie committee state that the law violated by me-
T. appointing agent in New York for the sale of the
J. Tits assertion first made by General Varnum
tie Trustees Cf the Agricultural College in attempt
~ purchase of bonds with the Agricultural College
roa avBe & Co. instead of from the State of Florida.
r. this properly will be necessary to recoect that
a. Agricultural College had sSOOOo which had every
rvc would he invested in these State bonds, and thus
tia much money i'll the State Treasury; and its possession
M site was essentially necessary to commence return to
la1 Ineis 10y the Treasury and Comptroller had
from several of the Trustees that the money would be
Jane "a, while was in New York completing the sale
- bonds and redeemng the old bonds from hypothecaon
Narum arrived there and informed that the Trustees
definite conclusion concerning the investment of
Agricultural College money but had left the whole matter
= hanl~ Although obtained from him no satisfactory
-lllton vet he a member of the State Government
Wa therefore, presumed to desire the Of its nan
policy and knowing reason why he should wish to give
te "l the State stab in the dark never doubted that
-u -e # the bonds would he made by him the State
'loat the subject wOHld have been mputaton
r the Trustees and OF the Adjutan General of the
~ iIl after my Florida, which occurred the
July. Gen. Narnum, in various conversations with my
ari o;.er cabinet officers by saying "hat all would be
t n h ~. eutboritv to invest but could not say
Ill I lint hat all be
perfectly confident in the belief that the investment
made the bonds of 1873, owned by the State, and that
money would 90 into the Treasury. We could place
obstruction upon the expression that all would be right"
thinking and talking in this connection of nothing
iie "f improving the state financial condition
- nior. surprised and grevcd than when learned in
Gen Varnum had invested the Agricultural College
~ IN the purchase Of bonds held by Bayne & Co., their
ryate property and that this purchase had been made in
Hile Gen Narn,m and were in New York and while he
ia lay with me and was daily asked by
De- would conclude the purchase of bonds from the State
= me- the Comptroller In his report TO the Trustees of
Agricultural College Gen. Varnum says shat Messrs.
- * Co. by with the Comptroller had been
r 10 make exclusive sale Of the bonds until October
ul further that Bayne Co., having in their possession
the mex bonds which had been issued ready for sale
ih contract with the Comptroller of the State, etc.
q these assertions deny most positively The third
rI Of the agreement made by IoVernor hart ana my
Hith Iiayne Il Go. referred to- reads as follows
>id parties of the second part. (Bayne & Cog also
that they will their best efforts to negotiate and sell
before the lst day of October 1873, all the remainder of
Of bonds dated January l. S3' to be solo, VIZ Two
rI and fifty of said bonds, said bonds to be sold at the
Eighty the dollar OF their face value and accu-
ed interest said bonds be delivered at Tallahassee in
ou, and At such dates said parties of the second
hall require on before said FIRST day of October 1873,
L phil for drered 'e'fho" "ed'co" for commits
-
"a. meyer was intended TO- aud does constitute Bayne
. agents for the State and gives them control of the
J. They receive no pay for selling them and the
are not in possesson so that no possible loss to the
l5 occur from their misappropriation. They in
f in tho ComptrOIlers Office, unsigned by that officer,
not to be delivered signed until the money for their pur
but was making efforts sell them Theony force of the
nent is to create moral obligation resting on Bayne
- "a and assist ms in selling the State bonds, and Mr.
- 1.,araI Varnum both knew that this the fact,
"a Mr. Baynes presence june asked General vsrnum
suy from the State and neither General Varnnm nor Mr.
eyer said IN me the Agricultural College Fund cannot