Year: 1860

Nofsinger-WiIlard.


To the People Of Indiana


AS | am a private citizen. and not
in the enjoyment of very good health,
and am not taking an active part IN
the political strife which unhappily
exists in the country, it is extremely
unpleasant to me to be dragged before
the public. / feel natural reserve
in speaking of my private or public
life, and do not wish to do so unless
compelled to vindicate myself against
unfounded charges. Yet | do not
fear but invite investigation of either
Demagogues, at various times, have
misrepresented my official acts for
the purpose of making political cap
ital. but | have thus far forborne
making any reply, feeling conscious
Of having faithfully discharged my
duty as an officer. and believing that.
although the people might for short
time be misled, the truth would
ultimately reach them. But when
the Governor of the State condescends
to make unjust charges against me, as
he has done in his late speech deliv
cred at New Albany, msniiestly to
injure me, or to affect the election of
others by striking at them through
me, Justice and honor alike require
that should reply to his charges. and
show the public how widely his
statements differ from the truth.


have no quarrel with Gov. Will
ard and desire none But when he
publishes calumnious charges against
me, he can not blame me If show
the public that they are unfo nded.


Gov Willard charges that during
my service as Treasurer. the State lost
S49,963 OIL by 'deposites and loans
give this assertion fiat denial. and
| defy him or any other person to pro-
duce the proof.


Gov. Willard in speaking Of the
State losing S39,963 vi loaned and
deposited by me. alludes, suppose,
to some bills of exchange which |
bought of Allan May. drawn and en-
dor.ed by Michael e. Bright aud
James L. Drake, to pay interest on
the public debt, which has to be paid
IN the city of New York Gov. Will
lard knows that this was neither de
posit' or loan Gov. Willard
knows. or ought to know, that the
usual mode of transmitting funds to
New lork to pay interest on the pub
lie debt and to buy bonds for the
Sinking Fund, is by bills of exchange
Oh that city. He knows that it wa
my duty annually as Treasurer oi
State To provide aud transmit neaily
S400, 900 OF exchange 10 New-Iork
Tor the purpose above named. Our
currency was not AT par and not re-
ceivable IN payment OF interest on the
public debt, nor in the purchase of
bon1s for the Sinking Fund; nothing
but gold would answer that purpose,
which had either to be sent to Now
York or drawn there on bills of ex-
change Previous to the introduction
of the free banking system there had
been no trouble in keeping the reven-
ues of the State, or In transmitting
the funds to New-York. The old
State Bank then kept the revenues OF
the State, and furnished all the ex-
change needed; but the introduction
of the free banking system, and es-
pecially the breaking down of some
| fifty of these banks in the years 1854
and 1855, completely destroyed the
financial system of the State.


l was Treasurer of State from
FEBRUARY 9Th, 1855. to FEBRUARY 9Th,
1857. The State during this time did
not provide safe or suitable place
for keeping the revenues, nor did she
require that the revenue should he paid
in gold or silver, nor what kind o
funds should be received for taxes
The most of the revenue was paid ir
free bank paper. This free bank pa
per as a general thing was not banka
bic in the State Bank, and. as had
no safe place to keep these funds, and
if there had been it would have beer
dangerous to have kept them on hand
r as the banks issuing this paper were
suspending constantly, l was forces
, to deposite in the free banks and 9th
er banking houses As before stated
the large amount of interest which
was semi-annually to be paid in tn,
city OF New York, made it necessary
for the Treasurer of State to commence
some time before hand to convert hi,
funds into exchange The most o
these funds consisted of free bank pa
per. The usual mode Of converting
these funds into New York exchange
and placing this exchange in New


York at the proper time, was to bu,
sight or time bills. Most of the bank
kept on hand only exchange enough
to supply their ordinary CUSTOM
They could not furnish the State will
exchange without first having in thei


hands the funds OF the State, ont o
: which to make this exchange. Whel
they got these funds they either CAV
o time drafts or certificates of deposit
which certificates were to be taken u
with sight bills Of exchange at tn
proper time. Iregarded the time bill
endorsed by responsible persons safe
to the State than a simple deposit j
: bank; but whore a deposit was guar
anteed to the State by the bonds q
responsible persons outside of ia
!. banks, there was no material differ
ence in the safety of the money. tn
/ time bills. however. being the NOR
direct and convenient mode


: These were the circumstances unde