Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-07-23


! may have written as much more kan ha.
been supposed, preparatory for an anticipated
attack, yet II Is most certain that not one word
orr related to the subject ofthe report. This
: had neither anticipated. heard oc, q, seen, ill
about one hour before my Intended departure
on the day after !. WAS communicated 10 tn.
f"use. Ii then took nr by such perfect sur.
prize, that neither knew. nor could decide.
what was best 10 be done with il, and left the
city without ever having mentioned the sub
Ject. rs we'll rs can recollect. TO any person
or persons except three members NJ the House
~ Representatives, Of whom Dir. Campbell, OF
Ohio, was one.
l met with him on the morning left the
Guy, and my impression 10, that he introduced
the subject, and seemed 10 have no doubt that
tne report was intended as an attack upon me-
In the course Of the conversation with him.
alluded 10 the confidential information above
Preferred to, probably spoke nf what | had pre-
pared, and intended to have done, in any ey ent
that might have rendered II necessary TO have
defended myself, at an earlier period, !. and re-
gretted that could not have been permitted
TO get oh in peace. IL is idle 10 insinuate that
my answer to this report could have been W rit.
ten before my departure from th,s place. The
latter could not be answered till it existed. and,
alter It was known to me, did not remain
here long enough for any such purpose. Be
sides, letter which wrote To air. Campbell.
on my journey, towards whom had no mo-
tive for concealment, will show that nv com
rnunicaiion wSs then not only not written, hut
that did not expect to employ more than
threehours in replying To the report. One thing
IS certain, that no man could have been less
disposed than myself 10 be the aggressor, in
any controversy whatever, at that time /; and If
lhad not considered the report as intended and
Ira Iaf tod fa 6v IL.
putaion, which knew did not deserve, moth
ing would have been heard from me, in re-
gard to Mr.. Crawford.
The anxiety which the Committee manifest
and must so naturally feel, 10 get through with
this investigation and my continued indsposi-
ton rendering it impossible ~ proceed with
my replication To Mr.. Crawf,rd's communi-
cation, as had intended, so no finish IL
within the time which Iconld reasonably hop.
to prevail upon the committee TO wait. feel
myself compelled to postpone to future oc-
cas'on, which will not he neglected, full an
swer To all his remarks, and, At pr-srpt IN con-
tent myself with few observations unon
those OF them which are most prominent. and
land seem to demand the most inmedi,,. ot
1 te ution,
| Commencing his Justification for receiving
| so much uncurrrnt paper, so;ne nf which was
great below par from certain local banks. with
4 history of the commencement of the direct
connection nfthe Bank of Missouri with the
Treasury Department. on the LIST August.
1918, he SAYS: :" Before this time the Bank
had acted "a the agent of the Bank fine Uni
ted States. 1t had fulfilled its engagen,ents
with that instirutiouwith good faith, &c. **x*
4 The large amount Of money to be received
prom the sale of publiclands in that quarter.
rendered connection with such bank not
| only convenient, but necessAry4 y A,* x The
Receivers were instructed tosx<crive the notes
Of such hanks AS paid sperivon demand for
their notes, and no Others. add 10 deposte
them in the bank, TO the credit of the Treasur-
err" But (says hey in this arrangement with
The bank, q" there WAS no Stipulation as 10
what kinds of mon"y il should receive or nav
for the Tre,sury Tlip,e, therefore. must
have been general deposi,rs and having been
made at the solicitation of The Bank. without
any special agreement it thereby imposed
upon itself the highest obligation in regard To
them. that fhp acceptance of an unconditional
and general d-poste could create upon any
bank whatever"
But besides this general principle, there was
a contract that excludes everv construction
which could have imposed upon him apy oh
legation, moral or legal, TO have taken from the
bank any paper that was not ofas much value
as the deposite, at the time il was made.
| This hauk was continued IA depository ofthe
public money On the same terms on which il
had been employed as the agent ofthe Bank of
the United States, except that, instead Of the
deposItes being subject to the drafts of the
Cashier Ofthe Bank the United States they
were on this second arrangement. to BIZ drawn
opt, from time Ia time, by Treasury drafts. -
| In both cases they were Ia he drawn for as
occasion might require, subject to the follow
| ing conditions, VIZ.
L
| |. lin favor of individuals, TO be paid at
sight.
| 9. lf in favor Of the Bank of the United
| States, payable in sixty days.
IL appears, from Mr.. Crawford's own re-
ports, that, in 1917, an arrangement was
made between himself and The Bank of the u
nfed States. 10y which the public funds were
to be deposited in fhe branches Of that institu-
ton, in all places where such branches exist
ed and, where there was no such branches
| the Bank was TO designate certain State Banks.
for which il would he responsible, and in which
such public moneys should he deposited. &c.
| In conformity with this arrangement, the
Bank Of the United States, having selected
and employed the Bank Of Missouri As a de-
Pository Of the public MONEY. became respon-
sb'e to The Treasury Department 10 pay ca 81,
Tor all moneys therein deposited. This il
could have had no motive for doing, without
correspondent obligation on the part Of the
Bank OF Missouri. Who could be better Judg
es OF what would create such an obligation,
than the enlightened President and Directors
of the Bank of the United States ? Their dis
interested opinion on the subject is practicable
demonstrated by The adoption Of measures
which they must have considered fully sde-
quate to secure their own interest, and imnos.
upop the Bank Of Missouri the corresno,d.r,