Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1815-07-13

THURSDAY, July ls.

/ Secretary of tie Treasury.-The u. S.
Gazette ha S lately undertaken to lay be-
fore the public transaction relating to the
Ssaleofa certain quantity oftreasury notes,
(which, if correctly stated, tends to sub
lject the conduct of MIR. Dallas to strong
lsuspcions. In order that the reader may
have view of the whole ground, we re-
publish the following article which origi-
3naliy appeared the US. Gazette, with
the answer it called forth in the Demo-
cratic Press and the reply of the Gazette.
] SAT what price was a large amount Of
treasury notes sold last week in this CT
Ety What was then the market price
land what connexions and what friends
iof the secretary of the treasury pocketed
the difference The editor viii be very
] thankful to his friends for authentic in
formation on these points. Such gross
land predigaI corruption as has been Frac-
stised with tie funds of the public, ought
ito be exposed, anu SHALL be, provided the
lproper proofs can I've furnished. At the
lsame time we should ike to know who
received the profit upon the sale OF New
lTork notes. which were brought to this
fcity and sold, in direct violation of o
Icontract entered into setweel the bank
(which issued them and the secretary OF
the treasury y. $. Gazette, Jstfse 2S.
l'1 We, in the spirit of truth and con-
fttence, challenge the Gazette to exhi-
bit any statement of facts which will
1 implicate the parties it covertry at
| tacks. Nosach statement caa DC made,
| and therefore it is that in genuine and
| native baseaess-of soul. the scribblers
| weuld assassiuata, those they have not
| the maniiness openly to sssail."
! ijeno;r.5tic Press, Ju3e 90.
We cheertuily accept the above chal-
iienge, the author Of which it requires no
Inecro,nancy to discover; and tIliis is the
statement of facts which we exhibit.
Between the 18th and Goth OF June,
instant, Alexander James Dallas, Esq.
secretary of the treasury, did authorize
ms SUI in law, Richard 3ache, Esqaire,
1.-THE post-master OF this city, to subscribe,
On ms own account, such sum rs lie might
think proper, to the twelve million loan
lJf the United States, at ninetr.,!ce per
]cent. lie also authorised him t. procure
subscribers at the same rate, aud to, re-
ceive for his trouble commission OF one
fourth OF one per centum. Under this au-
Ethority the son iii law of the secretary
Ibid, on the 20th OF June, subscribe on
his own account, and did procure SUBJ
scribers to the amount Of eleven or twelve
hunired thousand dollars. A further
statement of facts is, that within the Pc
iiaod mentioned, the well known price OF
;siS per Cent. stock ia this city, was from
i'tsety-seren TO ninety-etStt per ceatam,
land that Oh the day when the transaction
took place, any of the customary agents
Iof the treasury in Philadelphia could rea-
Idly have procured the whole amaAht to
he subscribed at ninety seven aud q halt
at least. or as is confidently believed and
asserted by competent Judges, at ninety
letght per ceat. This being the case, it
follows, that by piece OF management
Ibetoeen the secretary and his son III law,
10y which the latter derives large profit.
THE u. States have actually received less
money for the stock thus created. by be-
tween THIRTY AND FORTY THOU
ISAND DOLLARS. than the perfectly
iweh kaoun market value. Fer this we
IacClise Doth the parties concerned OF un-
faithful aujusti6abie conduct. The secre-
ltary mad no right to dispose of the public
Istock OF the United States at less than
Its real and known value, to benefit his
lson Iii law. or any other individual And
III 1t be said that Mr.. Dallas was ignorant
Of tie value of stock in Philadelphia (ol
(which lie onsht not to be ignorant on such
Ian occasion) MIR. Bache, as his agent,
Had no right. either III a moral or legal
, ..oint vi view, to dispose OF the property
: of another, tie property Of tie people u.
ltfs 4. States, for less than what he FRel0
Ito be It's real value, tho igh having dis
Icretionarv power FROM the secretary to do
"a, Mr.. Bache, having had some legal
knowledge, need not be told that II a
. Iconnission merchant or other agent had
, lione similar act in the private concerns
! l,f life. between individuals, he might be
Icompeilsd bv law to make good to ms
.r;ncinal the difference between the