Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-07-09

to law, dcpOSes that the above Is Il correct copy
Of letter found by the dcponcnt, on the files of
official letters i'll the Receivers Office, at Ed
wardsviic that the said letter appears to lc in
the han l-writing of clerk, but with the pro-
per signature Of the Hon. William III. Craw-
ford, as the dcponent believes, from comparison
with other letters received from the Treasury
Department..
TITO.S. LIPPfNCOTT
Affirmed and subscribed before me.
HAIL MASON, J.P.
Receiuoi's Office, Eduardsciiie, Illinois,
October 10, 1910.
SIR: My absence from this place on noces
sary and Indispensable visit to kentucky, has
put it out of my power, by an earlier opportuni-
ty than the ensuing mail to acknowledge the
receipt of:your letter of the 9th of August last
in which you express wish to he informed why
the public money in my hands has not been de-
posted in the bank of this place, in conformity
with your instructions.
] should certainly have continued 10 make
depostes in the Bank, had it not been Tor your
letter of the 9th April in which you requested
me to pay certain bills which you expected to
he drawn on me, by the Indian Agents of Chi
cago, Green Bay, MiclIilirnackiIrac, Fort
Wayne, and Piqua; ut the same time apprising
me, that the sum which would DC required ut
the close of each quarter, was estimated at elc-
ven thousand dollars.
Knowing that if deposited the money in the
bank, to the credit of the Treasurer of the Uni
ted States, could not, without special authority
draw it out, | conceived l was fulfilling your
wishes by retaining the money in my own
hands, for tie purpose of paying, when prcsen-
ted, the drafts mentioned in your letter of the
9th April. And presume that the same con-
structiOn has been given by the Receiver of
Public Moneys at kasl1askia, TO similar letter,
which, have been informed he received from
you, as he also, for a considerable time past,
has made no deposites in the bank.
| AS your letter of the 9th of August makes no
reference to that of the 9th of April proceedings,
l should at all events, feel somewhat at a loss
how to act, but believe should make the de-
poStcs were IL motif other considerations which
L feel my duty previously to communicate to
you.
You are doubtless appriscd of The hostility of
| the Bank of Missouri and citizens of ST. Louis
towards the bank of this place, supposed to be
produced in consequence of certain dcposites
| being withheld from that bank and placed in
this. 1t seems to be believed, with what Justice
do not pretend TO say, that their object is to
destroy this bank, with view to cocrce their
regammg OF the dcposltes in that. And under
the impression that they employ the public funds
for the purpose of accomplishing that object,
stockholders in, and several directors of, this
bank, have, IN disgust, either withdrawn, or de-
clared their intention to withdraw from any
further concern in the bank. Some of them
seem even willing that the Bank of Missouri
should regain the deposites, protesting to be-
licve ii would be the readicst means of causing
the state pride, and public feeling of this and
some OF the ncghboring states 10 react upon
that institution with the more effect.
In this state of things, the principal part of
the Stockholders have declined paying the in
stal;ncnts that otherwise were expected to be;
paid upon their stock. Two of the directors
have already resigned, others talk of doing so,
and the publication Of Cor. Ed,curds hcrerita
transmitted, shotos The course he is dismissed to
pursue.
Though these measures, adopted probably
with too much irritation, may not produce any
serious evils 10 the bank, and hope they will
not, yet feel that they impose greater respon-
sibIlity upon inc than am willing to take upon
myself, without the full disclosure of the whole
circumstances 10 you, and such instructions as
you may think iit to give thcreupon.
The situation of the bank at present consi-
der rs lavorblc could either be expected or de-
sired. And nndcr the control Of the directors
who have hitherto had the management of it, /
should approiiend no kind of danger TO the pub
lie, or to individuals but know not who NAV
succeed those that have resigned, and intend to
resign, nor who may be elected at the next an
nuai election, the first of January next. II
is true that have no reason to apprehcnd, nor
do anticipate, any unfavorable change in the
directory; but, under all the circumstances of
the case, would not wish to risk the response
bility of making the depositcs in the bank, till
after the first of January next, without your in
structions, given upon knowledge of the facts
above disclosed.
am tie more averse to doing so, from the
difficulty that the bank must constantly encoun
ter ill converting land Office notes into specie
so as to be prepared at all times to meet your
drafts; and from the feartlIat those drafts NAV
fall into tie hands of persons who, under the in
flucncc of st. Louis, would be disposed to insist
upon specie, when notes would answer their
purpose equally well, merely for the purpose of
harassing and distressing the bank
In fact, Willie such variety of notes are re-
cciyable for public lands, and specie 50 much in
demand, do not consider it any advantage TO
the bank to receive the depositcs on terms that
subject IT to the payment of cash as often as
you may md 1t necessary to draw for il, unless
tie time of payment could be fixed upon at Ger
tain regular periods, that would afford ample op
poTtunIty for the necessary preparation. The
land Office now receive bat little money of any
kind. This consists or notes on such yarjety
Of banks, so remotely situated from each other
that IL must be q considerable time before the
notes upon any one bank woud accumulate suC
fcicntly TO bear the expense of sending for the