Camden Journal

Col. Fremont's Speculations.—A Washington letter in the Columbus Times says:

"We are about to have a great muss in Congress, over certain transactions (rent) of Fremont, in California. You may recollect that at every session for the last three or four years, an effort has been made to get Congress to authorize the appointment of a board of commissioners, to audit certain claims for horses, provisions and all sorts of things, purporting to have been furnished for the use of a regiment of California volunteers, illegally raised by Fremont during the Mexican war. He issued certificates or scrip in the shape of drafts on the Government for these things, to the amount or perhaps half a million of dollars, which, ever since, have been as much the subject of speculation through out California, as Texas scrip ever was in New Orleans. Among these purchases was one of a stock of 7,000 head of cattle, bought at $5 each, from one Abel Stearns. For those he gave certificates for $35,000, which, with the rest, were refused payment by the Government. He pounded about two thousand of the cattle, and let the rest running wild on the prairies. Not long since the Government sent out commissioners to treat with the various tribes of California Indians—on their arrival out, under the persuasions of Fremont, these gentlemen undertook to feed the various tribes at the expense of the Government, on beef at from 15 to 20 cents per pound, giving Fremont the contract to furnish the beef. According to the account prevailing here, he went to Stearns', purchased his claim on the Government, and at once sent on an agent to withdraw the papers; taking the rest of the stock of cattle with the increase as his property, which he had a perfect right to do, after prevailing on Stearns to look to him, rather than the Government for payment, on account of the original transaction.

Having obtained the cattle thus, he fed it away in grand style—the Indians doing his driving and butchering free of cost. Already drafts in his favor (for beef so fed away) have been presented here, to the tune of near $200,000. The Government has refused point blank to pay a dollar on this account. According to the estimate of Californians here, Fremont's whole bill will run well up on to $500,000 for this beef. The Commissioners, however, knowing that they had no authority to make any such bargain, were careful to express it in part—the major part—understanding, that Fremont ran the risk of a refusal on the part of the Government to allow the transaction. On the whole, it is a "big speculation" on the Treasury, and is destined to make a noise."