Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-07-13

tendency Of the u s. Bank, did il not.
Q. By Mr.. Forsyth Do you know whs. is the per
cenagc OF the loss Of The u s. Bank on their debts
/ IN the Western states?
A. canno, state with accuracy. II exceeded ,et
per cent. and amounted, perhaps, 10 fifteen.
| @. As Presden, Of the bank, YOU had, Of course,
Constant intercourse with the Secretary OF the Terra
sury can you testify as 10 the zeal, integrity, and
ao''y, win which that part OF his duty, which re-
laes to the collection Of The publ cmoneys was per
formed, SO Tar as Il came uuder your observation
"A. had much aud anxious intercourse will, the
Secretary Of HE Treasury personally and by letter.
IN relation TO The currency OF the country, and the
collection OF The public debs, we'll in tho Atlantic
as the Western States. I, WAS u crisis of unexam-
pied difficulty The great object WAS to restore and
preserve sound currency, generally, through the
Union. As it regarded the Atlantic portion OF the
Union, 1t appeared, TO my judgment, to involve the
soununoss OF the currency hut, as II regarded the
w western states, IL seemed TO involve the exist
ence Of any currency at all. Understood, distinctly,
that was the object Of the Secretary OF the Treasu
~, ~ the Western states, 10 prevent its sudden and
total pros,ralion. In my opinion, the Secretary of
the Treasury displayed much ability, greal' zeal and
industry, perfect integrity, and commanded much
success as was practicable, under the circumstances
OF the times.
@. By Mr.. Cook. Ia expressing this opinion, do
YOU do It with full knowledge OF the connexi be
tween the Treasury Department and the Wesioru
banks in which the public moneys were deposited,
and OF the manner IN which those ranks fulfilled
their engagements with the Treasury?
A. do no, do il with full knowledge Of these
circumstances, but do with great deal OF know
ledge OF The subject. IL this question he intended tn
refer TO my answers 10 questions ning
the arrange nents between the Western B,aiss and
me Government, is necessary state tia, under
stand those questions and 10 refer the de-
'A which governed The transactions, OF those banks
with the government, of winch am ignorant bur
the answer which have Just given refers TO the
general conduct aud he srcess Of the measures of
ihe Treasury, and know them from my cutrcsDon-
de"ce and intercourse with the Secretary, ast from
| the operations of the Bank of the uuued STATES,
through which Large sums OF money collected
Tor The use oi the government in tho Western STATES.
Hon. .Hinian EGtcards s.corn, 6y order Of NE
C0mGitites.
u. Ey MIR. Livingston. You stated in an esa pins-
non before toruer committee, ia your
me 9th 'nierrogatory, that you had prevailed upon
Col Stephenson TO letter TO the Secretary OF
Tue lreasury relative to the prop,eiy Of Continuing
oepos'ies OF pubic money IN the Bank Of Edw-aId.-
V"c, and that you saw him write the letter, and Sn-
enclose publication made by you ,hereia The
Committee wish To know whether you read thar let
ter III immediately after il was written and more mar
'c"ary than Is stated IN that Deposition what passed
between yourself and Col. Stephenson on that vcca-
sion
Inc circumstances under which il was written
were these Ci. Stephenson was, AT that lime the
| Receiver oil Public Moneys, and also the President
OF the b"nk. lie was very unwilling that ! should
Withdraw from the Bank, AID supposed that ny doing
so would he likely To impair us credit, and increase
| me responsibility upon bin for the deposiies al it,
was myself glad OF the opportunity OF cream stan
ces SO favorable 10 my advising hiG with success 10
VINE ihe ieiier TO the Secretary, and he very
easiiy prevailed upon TO do so, aud applied 10 me 10
wri'e such letter Tor HIM as thought he ought To
VINE TO the Secretary and accordingly wroIe the
urau OF such lcter-went 10 his oihco--Temaincd
mere un he had copied u, and afterwards cunipar-
ed the cory made by HIM with the draft. Al ie SAM
no iIai he wrote the IeteI he enclosed TO lie sent
| WIN H. as believe WAS his intentions printed copy
OF my pubiicafion announCIn imp my intention to with
driw from the Bank Of Ejwards,iile | have no
doubt thar he sent The letter. because from the con-
veTsaiioE had wi HIM, Appeared 10 lie his desire
TO send ~, Tar as could discover and his suise.
queni conversation left doub, my mind that lie
did send II. have no recollection of having seen
The original draft above noDed from the lime II
was COPIED ny Col. Stephenso unui the time OF ny
late return 10 E,lwardsvilIe. IL was then shown 10
me by Thomas Lippincof, who was employed ia do
ing business IN the Land Office, and took II in my
presence from among the flies of thar cfice. The
copy now presented was made out, think, by hun
sell, and is either afh H,cd to as true one
Mr.. Lppincoi is gentleman OF fair aud respectable
lhatar'er, and, as understand aud believe, WAS Sc
crelary clerk branch Of The last legislature
oil Illinois. Although Cannot swear that this rs a
literal copy oil the original draft, kHow IT 10 I've sub
sani'hy correct, nor have The last doubt u its being
literally So Upon the original draft, found in The
MES oil Tie ONCE, was an endorsement in the and
writing OF MI Stephenson, the words of which were
as lar as rccollcci, the following: Cony to aie
treasury department, October, 1885," or words TO
to believe that the letter was seni is that the SAID
Mr.. L'ppncot also showed me the copy Of another
letter, which he took from the files OF the office
Which was III The haSd writing Of Col. Stevenson,
,ne i"ie Receiver, aud purporled TO be letter from
me SAID Receiver TO Mr.. Crawford, dated, think
lie %Zd October, 1872 which, from the subject Of IT,
appears TO refer TO the before descI, Led letter.
Y. BY Mr.. Forsyth. Was there any part of The
original draft OF the letter from MI, Seul,e nson OF
October II, 1919, under scored?
| A. ] do not recolect that there was 1 per
ceve that there IS an underscoring in part OF The
copy now pfese Hied, which may have been done IN
consequence OF the object for which this COPY was
taken; which, originally, was not that il might he
sworn 10, bot that J. nigh, be published. Ii was
sworn 10 subsequently, to the arrival Of the summons
from this Committee To myself.
Q. BY MIR. Forsyth. Was that underscoring made
by you, or AT your request?
a. do not think it was made by me, and do not
remember that u was made my request. do sup
pose II was made 10y the gentleman who took the
copy, and that II was done by han 10 consequence Of
his knowledge Of my object IN searching for the let
ter.
@. By Mr. Forsyth. You say that you perceive a
part VI the copy uoJerscored Is tbs the fl 81 time
you have noticed The circumstance
u A. do not recoileci noticing il heretofore Inn,
think is highly probable that did, as The COPY was
intended for publication, and this is point 10 which
] should naturally have wished TO call the public Al,
lemIoD, and OF which wish the gentleman who n,ade
tho copy was - ell apprzed
| @. BY Mr.. ForsyIh. Your belief ia tina, this u,ds,
scoring WAS doae before the affidavit was attached
10 The copy
A. Such is my belief. have no ,oub, of il.
u lhis copy has bees all eady pubii shed H.ys
you seen the publication OF II, IN ono of ,,e ,tI,s
newspapers OF THIS city f
a. have.
sou? ''"" y
A. submit to the committee whether that is pro.
per question.
Mr. forsyth here stated that lie had particular
,,sa" 70. making the inquiry The oner, as pub
nSheu, contains pari IN italics which corresponds 10
me part understood ~ the copy now presented aud
We wished TO ask whether HE types OF the publication