The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-04-25

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which day he will assume the presidency of the
National Bank of the Republic, of New York.
Comptroller Knox was appointed Deputy
Comptroller Oct. TO- 1867, and Comptroller on
April r. 1872, and thus had a continuous service
OF seventeen years in the office. Previous to his
appointment as Deputy Comptroller he had
charge of the mint and coinage correspondence,
and was sent by Secretary McCulloch to San
Francisco in 1866 to examine the branch mint
in that city. His report was published, with a
complimentary notice, by Secretary McCulloch in
the finance report of that year. April %, 1870,
he completed revision of the mint and coinage
laws of the United States, which was transmitted
to Congress with an elaborate report. Upon his
recommendation the coinage of the silver dollar
was discontinued and subsequently the bill
which he proposed was passed by Congress with
n few amendments. and is now known as the
Coinage Actof 1871
The Comptroller subsequently visited New
Orleans and discovered in the Office of the
Assistant Treasurer the largest defalcation
ever known in the history of the government
The failure of the First National Bank of New
Orleans followed, and Mr. Knox remained for
some weeks in that city, acting as Assistant
Treasurer. He was appointed Comptroller with
out his knowledge, previous to the expiration
OF his first term, and confirmed by the Senate
without reference to any committee He was
again appointed to third term on April II, 1892
He has made twelve annual reports to Con
/ gress and during his administration his office
has not been subjected to any investigation until
the recent attack by the shareholders of the
| Pacific National Bank, of Boston, from which he
| has been fully exonerated by the committee on
| banking and currency His administration has
| been marked by rigid enforcement of the safe
| guards on which the security of the national
| banking system depends, and by broad and
| enlightened comprehension of the principles of
| safe banking and the conditions of a sound cur
rency which are well illustrated in his annual
| reports and occasional addresses which have
| given him high reputation among the leading
| authorities on finance both in this country and
| abroad.
ThoCemptroller, by request, stvcJrn panied aec-
1 rotary Sherman and Attorneys Devens
! to New York on two occasions during the nego-
tiation of United States bonds for the purpose of
| providing means for the resumption of specie
| payments, and in New York arranged between
| the bank officers and the Secretary a conference
which afterward resulted in the admission of the
| Assistant Treasurer to the clearinghouse and
| the receipt by the CLEARINGHOUSE of legal ten
| der notes on an equality with coin in all pay
| ments at the time of resumption. He suhse-
| quenty by request of President GBrfeld. accom-
| panied Secretary Window and Attorney-general
! McVeigh to New York and arranged a conference
| between the syndicate and other bank officers
| and the Secretary. which resulted in the issue
and successful negotiation of the 3 1-2 per cent.
| bonds
! 1t is well known to Senator Sherman and 9th
! er senator's that the Comptroller was the first
| choice of the late President Garfield for Secre-
| tary of the Treasury, and this fact was commu-
nicated by the President to well-known gentle
man, to whom the President said that he was
! only prevented from carrying out his original
purpose by political complications which after
ward grew up in filling other places in his Cabi-
net
Mr.. KnoKhas accepted the presidency of the
National Bank of the Republic, which owns
jointly with the First National Bank, of New
York, the United Bank Building on the cor
ner Of Wall street and Broadway. 1t is an old
institution, oTi ginaly organized in 1850 and has
a capital of 81 800 900 and q snlrnl11s of $n0 nAn