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during the last days of its power, in answer to the apologies contained in the "minority report." That "the undersigned" should feel slightly distressed at the state of facts presented in the majority report relative to these frauds is not a matter of surprise. The unparalleled extravagance of the Democratic Board of Auditors, during the month of December, 1854, in allowing claims to the amount of $53,568 29 in a single month, and that, too, the last of their official life, is a matter to excite surprise; The "dubious character" of all these claims, including that of the Phoenix Bank, to Job Brookfield, Gilbert & Co., Bronson, Knight & Ingalls, and others; all claims that had been for years before the people and often rejected by the Legislature and by previous agents of the State, certainly demanded an apology at his hands. Hence, the "report" says:

In reference to the charges made against the last Democratic Board of State Auditors, during the last thirty days of their existence, the undersigned would observe that the action upon the claims allowed on the old Internal Improvement contracts, have never been defended by the Democratic party, by resolution, or by the support of its press."

Fully believing in the triteness of the old saying that one should "never spoil a good story for relations sake," we simply desire to call the attention of "the undersigned" to the fact that these same men are still classed among the leading, influential men of his party, and that while his party press have not dared to defend these allowances, it has uniformly sought to ridicule and defeat any attempt of the present Administration to recover any portion of this enormous plunder. Of the truth of this assertion let the course of the Detroit Free Press and the remarks of "the undersigned" himself, referring to the Phoenix Bank case, bear testimony.

But these allowances are not alone a monument to the knavery and dishonesty of the Democratic party. During this same month of December, other and more monstrous allowances and expenses were made by this pure party "the undersigned" so humbly apologies for. We subjoin some of the items, as follows: salaries, $2,997 87; extra clerks, one month, $791 37; fitting up the Legislative Halls, $2,717 27; Legislative printing and publishing laws (twenty months after the Legislature had adjourned,) $2,841 07; stationery to Auditor General, $674 55; printing paper, $651; to commissioner of fire-proof offices, $782 ; improvements on Capitol Square, (which square "the un

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dersigned" was unable to find,) $3,406 13; postage, $427 61, or at the rate of over five thousand dollars per year!! uncurrent funds, $458 55!! and other like items, swelling the whole amount of such expenditures to the sum of $83,962 71, or costing the State, in the month of December, 1854, alone, only $4,682 52 less than for the whole year previous. Is it any wonder that this benighted and afflicted representative of an unscrupulous and defunct Democracy, should attempt to apologise for such bare-faced frauds and peculations, or that his apology is very lame?

"The undersigned" does not even so much as attempt an apology for the double allowance to Hon. Geo. W. Peck, (and with this we should find serious fault did we not know that gentleman had the supervision of the whole report,) State Printer, nor to the Timber Stealer Fox, nor for the defalcations of St. John Swegles. He pleads convenient ignorance in these matters, and tries to slide out by the simple remark that those individuais alone must bear the responsibility-truly a new method of escaping the consequences of political dishonesty.

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Upon the point of the origin of the State indebtedness, "the undersigued" says he "deems it sufficient to quote a single paragraph from the first message of the present Executive." Perhaps this is satisfactory to him-it is not at all unsatisfactory to us--yet we deem it of some trifling interest to investigate a fact or two not there stated. That the negotiation of the "five million loan" was "prompted by a wild spirit of excitement and speculation; that by it an immense debt was created;" that our "gigantic system of internal improvements" yielded "little or no revenue," ," and as a natural consequence "the State was soon brought to the verge of bankruptcy and ruin," are all facts which no one will deny; but the mere recital of these facts will not in the least relieve the Democratic party from the responsibility it incurred in yielding to the temptation, and thus burdening the State, in its infancy, with this debt and its still enduring legacy of interest and taxation.

From the first inception of our State indebtedness to the close of the Democratic reign in 1854, was one continual chain of monstrous frauds and reckless trifling with the interests of the people. We have prepared the following figures only as a sample of the management during the iron rule of the Democracy."

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The amount of Bonds issued, May, 1838, was, $5,200,000 00 Of which the State rec'd pay and in full, only, 1,387,000 00

Remaining unpaid,

$3,813,000 00

For which sum the then Democratic Administration took the Morris Canal Co. as security, and delivered the whole amount of bonds, and upon which the State received from said Company, previous to its failure, only $955,960 24. Showing in this transaction a loss to the State of only $2,857,039 76, upon the original bonds for the "five million loan." Instead of promptly adjusting these Bonds and paying the interest upon them annually, the Democratic Administration, after disgracing the State with an insane attempt at repudiation, allowed this indebtedness and the accumulating interest to remain unsettled and unpaid during their continuance in power, and it was not until the present Republican Administration came into power, that a law was passed requiring the prompt surrender of the Bonds, and by cutting off the accumulation of interest, secured their adjustment. Up to the 1st of January, 1858, the total amount of indebtedness thus adjusted by the Republicans, including the interest which had accrued under the Democratic regime, was. $1,809,395 73 Amount still outstanding, Jan. 1, 1858,. 113.399 .72

Making the present indebtedness on the five million loan,..

Deduct from this the original debt,.

On account of the principal,.
On the interest,...

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And you have the sum of.

$966,835 21

Or $10,874 97 more than the original indebtedness as the accumulation of interest during the rule of the Democracy, and showing a dead loss to the people of the State of

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$1,922,795 45 955,960 24

$2,857,039 76 966,835 21

Or a total loss of...

$3,823,874 97

Besides the sums unknown, for exchange, expenses, &c., upon the five million loan alone. And yet in the face of such figures as these, this "report" eulogizes those Democratic Administrations, and says the people "understand too well the faithfulness with which the public interests were consulted in all measures of State policy, to require any defence before them of those administrations."

Well may "the undersigned" close his "report" with the

UNIVERSITY OF MICHIGAN

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jubilant assertion that "the people have too often and too emphatically endorsed the Administrations of Gov. Barry and Gov. Felch." Yes, indeed! the people have realized the truth of that saying, and in the last campaign gave them each an equally emphatic endorsement, after a full knowledge of the facts by leaving Gov. Barry in a minority of six thousand votes in his Congressional District, and by refusing, by a majority of near twenty thousand votes to again entrust the management of our State finances to the hands of Gov. Felch! Emphatic endorsement, indeed!! And this same people, with a more full understanding of all these facts, and after sifting the silly falsehoods of the "minority report," are now waiting impatiently to record another and a like endorsement, only more withering and annihilating, of the financial policy of this Democratic party. Yes, "too often" altogether too often did they embrace its swindling extravagance and irresponsible demagogues; and now that the facts are before them, and they are reaping the full fruition of that dishonest and disastrous policy, their future endorsement will be like the last-utter condemnation.

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