Year: 1860

the money to meet its requirements was not in
the Treasury. quote:


s. In fact, if the amount of cash therein ap-
prOpriated and set apart were in the General
Fund, it would give me sincere pleasure to assent
/ to the Act becoming law"


! Thus the Executive himself whose "renon-
strances were so just and worthy of obedience.
according to the construction of the Union. was
OPPOSED to the Act because there was no money
out OF which each member could pay himself n
| thousand dollars in advance of services.
| Lastly, proceed to answer the reitcrations of
the Union, that the credit of the State was i'm
paired and njustice done to her creditors by the
passage of the Act. 1t is true, there is nothing
but assertion for me to meet bit choose to 81
lence the clamor of the Union at once, without
further controversy. How did the credit of the
State suffer? Did bonds or Controllers war
rants depreciate in the market? Does the In
ION assert it No material change took place I?
Scrip was bought and sold the same as ever and
some of the poor members of the Legislature
s)ld the scrip issued TO them under the thousand
dollar act to the Shylocks who infested the cap
ital, for sixty cents Oh the dollar in order to
raise the means to pay their expeuscs.- The
rooms of the Sergeants-at-arms' and even the
lobbes were filled with money cl angers apd be-
came dens of thieves.


How injustice done the honest creditors
of the State? Their scrip was worth in tie mar
ket no less was it to them, further from ray
ment The only avenue to the Treasury as I
have shown, likely for scrip to take to insure
payment was through the brokers. How were
those who had done service for the State and
were waiting for their pay to receive their hon
est dues? Pass registry law, and make scrip
payable in the order of its registry? Two hun
dred thousand dollars in warrants then outstand-
ing, most of which were in the hands of brokers
in collusion with the Controller and Treasurer
would have been sure to be registered first
crowdiBg honest creditors so far into the future
tor payment, that in despair from sheer ne
cessity nine-tenths must sell to the Shylocks,
thus perpetuating the swindling scrip system
from year to year.


What was to be done for relief? The Lcgis-
lature proceeded in accordance with Executive
recommendation without unnecessary delay to
pass a funding Act by which seven hundred
thousand dollars in warrants were surrendered
for State bonds bearing interest Bythis act the
honest creditor put on par with the shar-
per. His bonds sold for as muck in the mi rket
as the preferred scrip of the Legislator, and in
some instances for more. as | might demonstrate.
This act was quickly followed up by another.
prohibiting the Treasurer from receiving or pay
ing out any moneys. bonds, warrants, etc. f r
any State dues indebtedness, except on tie
order of the Controller, and compelling the for
mer to report the operations and condition of the
Treasury each month.


Having now met every allegation of tie Lnion.
worthy of notice, trust fairly and souarely.
am content to allow it to indulge in its usual
pointless platitudes, and subscribe myself has
tily,


Yours, E. C. WAITE.


NEVADA Oct. 6, 1860.