Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-04

cabinet OF two republicans and two fetieralists.
iha' statement, therefore, TINS contradictel,
was, 10y i'ir. l-owiic's own confession. his own
statement.
Those WHO have attended TO the remarks
winch tins occurrence has called forth will find
In tiicm sufficient excuse for the fnreroipo-
attempt 10 proso the position for which have
commended. q ~
.uay -, 1872 1.
Ihc following il ccpy of the letter Of ,l,c Re-
c''t'r VII ch has created so muc excitement (which
We understand, Cox. Edwards obtained from the
Land Office At FdwartIsrille:
SIR My absence from this place OH a uecessa-
~ aud indispensable visit to kem,uckv has put il
out o my power, by earlier opportunity than the
ensuing mail acknowledge the receipt of Your let
Ter OF 'he ON o August last, i'll which you express
"ish 10 be informed, why tic publick money in my
lands, has not been deposited in the Bank of this
place, IN conformity with your Instructions
should certainly have continued to make the
deposl;cs III the bank had it not been for yonr letter
oil the 9th C: April in which you requested me To
pay certain bills, which YOU expected tn he dr,vr
on me- by the Indian agents of Chicago Green Raw
hichilimackinac- Fort Wayne, ard Piuua at the
same time apprisiaS me that the which, would
be required at thu close OF each quarter, was es-
mated at l 600 dollars.
knowing If deposited the money in the bank In the
credit OF the 1resurey of the United States could
not without special authority, draw it out, con-
ceived that was fulfilling your wishes hv retain
ing the money in my hands, ror the purpose of
paying, when presented, the drafts mentioned il,
your letter of the 9th of April cnd n.esr,,nc thai
the same construction has been given l,y the Rccc;
yer of Publick Moneys at kaskaskia to Il similar
letter, which, have been informed. he rec wed
from you, as he also, for considerable time pas,
has made depositcs in the bank
AS your letter of the 9Th August makes no refer
ence 10 that of the 81, of April preceding sboud
events, somewhat M Il b,,x,
but believe | should make the deposites were IL
not for other considerations which feel it nv dutv
previously to communicate to you
You are doubtless apprised of the hostility OF the
Bank of Missouri and citizens of St. Louis towards
the bank at this place. supposed be produced in
consequence OF certain deposites being withheld
from that bank, and placed in this 1t seems to b..
believed with what Justice do not pretend to saw
'nat sir oyrc, isto destroy this bank, with vier
TO coerce the regaiuing of the depostcs in that and
under the impression that they employ the public
funds for the purposes of accomplishing that object
stockholders In, and several directors of the bank
have, in disgust, either Withdrawn, declared their
intention to withdraw, from any further concern i'm
the bank Some Of them even willing that
the Bank of Missouri should regain the dcposi g.
protesting to believe it would be the rcadcs means
OF Causing the state pride, and public feelings of
this, and some of the neishboring states TO react
upon the institution with the effect
In this state of things, the principal part of the
That otherwise were expected to be paid upon their
stock. Two of the directors have lready resign
en-otllers talk OF doing so-and he publication of
GoreT1i0r EG,CdTdS, herewith transmitted. I.cus Me
course lie is disposed 10 pursue.
Though these measures, adopted probably with
too much irritation, may not produce any serious
evils TO the bank-and hope they will not-yctI
feel that they impose creator responsibility upon
me than ain willing to- take upon myself, without
the full disclosure of the whole circumstances to-
you and such instructions you may think 81
to give thcreupon.
The situation Of the bank at present, consider
as favorable could either be expected or desired
and under the control of the directors, who have
hitherto had the mana cement of it, should appre-
bend no Kind of danger to the public to intiivi-
duals; but know not who may succeed those THAI
have resigned, and intend 20 resign, who may be
elected at the next annual election the LIST of ia
uuaTy next. 1t is true, that have reason to an
prehcnd, do / anticipate, any unfavorabic
change in the directors, but under all the circun-
stances Of the case, would wish to risaue the
responsibility of making the depositcs in the bank
till after the ls of January next without your in
structons, given upon knowledge of the facts a.
bove disclosed.
lam the to doing this from the difficulty
that the bank constantly encounter in convegt
ing land Office notes into specie, so bc prcpar-
ed at ali times, to meet your drafts and flo,n the
fear that those drafts may fall into the hands of per-
! sons who, under the influence Of ST. Louis, would
be disposed to insist upon specie, when notes would
answer their purpose equally well, merely for the
! purpose Of hauassinz aud distressing the bank.
In fact, while such Il variety Of notes rcceiv-
able for public lands, and specie so much in demand,
! do not consider il any advantage to the bank to
receive the dcposiic terms that subject it to the
payment Of cash rs often os you may find it necrs-
sary to draw for it--uuless the terms of payment
could be fScd upon al certain regular periods. that
would afford ample opportunity for the necessary
preparation. THE land Offices receive but lit
tie money Of any kind. This consists Of notes on
such Il variety Of banks remotely situated from
each other, that il must be considerable time be-
fore the notes upon any one bank would accumu-
late sufficiently to bcar the expense OF sending fo
the money nd iu most cases there IS TO othnr on
portunity Of converting these notes into specie ov
lug particularly 10 the locality o. the banks fror
which they issue.
To make the depcsiie Of any advantage. ;le tim
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