Year: 1864

}
on record. The summary proceedings
OF the Police Courts Of New York, or of
the Old Bailey in London cannot APP
proach it. Here the pleadings on both
sides had been prepared out of Court in
advance, including the opinion and
Judgment of the Court, a record of the
case procured and filed in the Supreme
Court before the minutes in the Court
below had been read or signed; without
the character of the case having been
br,'ugh to the knowledge of the Judge
OF the Circuit Court, who, upon being
informed of what had been done, struck
out the entry upon the Order Book with
his own hand, and, as learn from an
other source, sent communication to
the Clerk of the Supreme Court, stating
that the record fled with him had been
improperly obtained and that he had
not decided any such case He then
took up and examined the original COM
plant and decided it invalid, upon the
ground that the proceedings were wholly
premature, the time not having arrived
when any action could be had on the
subject. From this last decision Talbot
appealed to the Supreme Court. The
Supreme Court received and retained
both records, and then the case present
ed the very novel aspect of two appeals
pending in the Supreme Court at the
same time, and only one case in the
Court below In few days opinions
were delivered in the Supreme Court in
both cases denying the existence of any
appropriations by which the interest
could be paid upon the State debt. And
here leave the law suit


In future times the legal ANTIQUARIAN
will pause amidst his researches to ex
anime this case as the greatest curiosity
IN the annals of American iurispru-
dence.


The dead lock was now placed upon
the Treasury. 1t was full of money
paid into 1t by the people to defray the
interest upon the public debt, support
the Benevolent Institutions and Peniten-
tiaries, and liquidate all the expenses in
cident to the operations of the State
Government.


The situation was full of embarrass-
ment and responsibility to me. and the
affairs of the State were in a most crit
ical and delicate position. To have call
ed an Extra Session of the Legislature
would have realized the hopes of the re-
pudiators. A careful examination of the
designs and temper of the majority fail
ed to present the slightest prospect that
different policy would be adopted from
that which prevailed at the Regular Ses-
SIGN, while the danger and excitement
which then prevailed would be renewed
with increased violence Every Union
member, so far as l could learn, was ut
terly opposed to an Extra Session, and l
have yet to find the first Union man in
the State who did not protest against
such a measure as being fraught with
danger and powerless for good. De
termined, however, to leave no effort un-
made to preserve the credit of the State,
in the month Of June proceeded to New
Gork and opened negotiations with
Messrs. Winslow, Lanier & Co. That
able and distinguished house promptly
offered to pay the interest if the proper
evidence could be procured as to who
were the stockholders entitled to receive
it.


On the 23d day of June they addressed
letter to John G. Walker, Agent of the
State, elected by the late Legislature,
resident in New York, informing him
that they were prepared to pay the in
terest, if he would furnish them, from
the books of the Agency in his Office,
list of the stockholders, or allow such
list to be taken, and offering to pay the
expense of having it copied This list
was made necessary by the existence of
spurious Stocks issued by Stover, the
former Agent, which could be detected
from the genuine only by the books Of
the Agency. To this letter Walker re-
piled in long, malignant and frivolous
communication, in which he assailed the
Governor, and ended with refusing the
list, or allowing it to be taken.


In July they addressed a second letter
in which they urged him to pay the in
terest on the State Stocks in the usual
way, by issuing checks to the stockhold-
ers for the amounts due to them, upon
their house, which checks they would pay
upon presentation, and also expressly
exonerating him from all personal liza
bility or responsibility for the money
thus advanced.


The interest had been paid in this
manner through the house of Messsrs.
Winslow, Lanier & Co., for the preceding
ten years, the Agent depositing his mo-
ney with the house and checking upon
it in favor Of the stockholders


This proposition was also abruptly re-
! iected by Walker. | have no language
to express the contempt and aversion fol
the conduct of Walker which must be
universally sustained. No commentary
can add to the intense disgust which i
must inspire in every honest and intelli
gent mind. The office of Agent of Statt
was created by the Act of Settlemen
with our creditors in 1916, to which
have before referred. Through it til,
interest was to be paid semi-annuall
in New York, and the business of tn,
Agent was to watch over and preserv,
the credit of the State, and for which h
receives a salary of $4,000 a year, ant
$500 more for an Office and incidenta
expenses.


He was not, however, entitled to tn


sole credit of defeating the arrangemen


made with MessrS. Winslow, Lanier & CO


Mr.. Ristine, the State Auditor, was pres


ent with him in New York aiding an


advising, and is entitled to share tn


glory and responsibility of that transac


ton.


Walker having thus defeated the al


rangement with Messrs. Winslow, Lar
ier & Co., the interest on the stocks wen
to protest for non-payment on the lst {
I July. Their value was Immediately a


fected in the market, and the fair fam


of the State again became the subject


doubt and discussion. Steps we take
to inform the stockholders, as far as po


sible, of the true state of the case t


prevent panic and sacrifice, l pledgin


myself to make further efforts to effet
, the arrangement for the payment of til
interest


r Determined not to be defeated if DO
sible in the effort to preserve the credit
3 the State, l attempted to secure fro


other sources a correct list of the stool
t holders, and in this attenpt succeed,