Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-07-02


Question by str. Edpards. Was the paper
OF tn. HUNTSVILLE Bank received at your Bank !?
.4tsicer. We never had a draft 90 the
Bank ut Huntsville. The paper Of that Bank
IS esteemed rather better than our own Branch
notes and we have, until long after this trans
action, made no distinction between il and
"hat is called, by us, current Tennessee pa
per- "a
q Was the notice Of the protest, at Louis
vile, forwarded to The Treasury
n. do not recoilcct, farther than that
took the ordinary. steps 10 make the drawer
liable, before leaving Louisville; and, upon
my return, in May, wrote the letter now shewn
me-, by one Of the Committee, to the Secre-
tary.
q When you received the draft. did you
credit the amount to the Treasury
III. Yes, As l now believe. That, think,
was our understanding of the agreement, aud
suppose and believe we complied with that
pari of it.
Question: by Mr.. We5sfer.-Did you inform
the Treasurer that you did no. pay his drafts
in specie but in your own balls?
II 1 have nD recollection of making any
communication to Mr.. Cav ford on that sub
jec'. The Cashier may have gwen such no.
t'ce-but do not know that he dd. l gave
him no orders TO do so; and think, if he had
done SO, should have known it.
Question by Mr. Edpards. Do you believe
that any one pensioner would have taken your
bills, if he had supposed he could get specie
II. Doubtless he would have preferred
| specie III any of the hills in which he was paid
Question by Mr.. Forsyth. on i.e part Of Mr..
Cratgford Did you hold the United States
responsible for the amount of IFS draft Oh the
Bank of Missouri {?
II Yes
Q. How then did you refuse TO pay 10 spe-
II. we thought that, as the money for the
draft had never been paid to us, il WAS 4 JUS,
interpretation of the agreement that we should
not pay in any thing till we received th.
proceeds of the draft but preferred adyanc-
Ing IN such funds as we could spare, to hav.
ing the drafts protested.
Question By Mr. Ed,cards. When you re-
ceived the amount of the draft, was it nci
chiefly In notes OF your branches?
II. understood so-but have no personal
knowledge as was not then in Knoxville.
q Had not most, or all, of those branches
then stopped payment? 80.
H. They had ceased cash payments when
we made the agreem-nt--but my impression
Is, mat when these notes were received in the
Bank OF Missouri, the Banks all paid Specie
ms answer is Civ en-, however, upon the pre-
sumption that the Missouri Bank had receiy
ed them as they represented to the Secretary.
How that fact was. |, Of course, do not know.
z. What means has Director Of knowing
rom what person sum, say OF 500,
found in Bank, and received in series of
months, has been so received ?
II: can only speak as TO the rules Of the
Bank 10 which have belonged. As To the rules
OF others, could only speak from information.
ny the rules of ours, the President, Cashier,
Sc. can inspect all accounts of esery person
whatever but no individual Director has such
power but the Board Of Directors, if thew
chuse, have as much right as any of the iodi-
vidual officers, TO examine apy and all ac
counts but any information thus acquired
"ou'd be confidential, and is intended TO pre-
vent any improper conduct, and 10 enable the
DireGtors and officers TO discharge their respec
i've duties, to the public, and TO individuals.
Question by Mr.. Forsyth AS the President
OF inc Bank, would you not have preferred adj
'anchg IN current notes with the government
oound 10 pay the draft to its having been paid
punctnalIy and your being bound to paw in
specie? ~
~. " would have preferred that the payment
Vi t"e n'ii should have been made ~ hen was
d. Louisville, and that the transaction should
nave gone on as originally Intended; because
we would then have been az able as we ever
may De 10 LIT our paper and as never expect
ed more from the government thar oaymen,
at our Bank in the same kind of mopey spe eff.
ed In the lace of the draft: but at the same
time ieIf confidence tina, the government
wouio cause us to be paid in such funds a,
our own piace-it could make but little diff
ference, as most ofthe pensioners we're very
probaoiy paid IN Branch paper, or funds equal
10 u, ana have ever belle, ed, as President.
mat the interest of the Bank was most nromo-
lea by acting honestly. | make this obserya
non without feeling that the question was in
'ended TO doubt our integrity
II. L. WHITE.
"0tes oaHdTson of 8terandria, sioorn at tie reauest
Of Mr. EdicsrdS.
question ty Mr.. Edt0ards. | wish you To
stale what you know concerning sums of
money obtained by the MechaDics' Bank of
Alexandria, from the Secretary of the Urea
sury.
.9ns'oer. IN January, 1919, was Preside nt
OF mat Bank Al that time, there was run
on mat Bank, and the Bank was much en-
ia l waited on the Secretary of the
treasury, and he loaned, at one time, sI7.-
ooo al another, $4,000 l Showed him
Statement OF ihe Concerns OF the Bank, proving
rs condition to be good, and reminded him Of
o'a'er loans by The Bank, to government, in
an hour of its necessity. He replied, that ne
would consult the President of the limited
I.atss' and let me know the result and, when
! called again, told me The government was
disposed TO do all it could to relieve the Bank.
% wen as The other Banks Of the District. and
gave me a draft on the Bank of Alexandris for
9iI,ooo. Lhs was on or abous the 18th Of
January; On or about the 23d of the same
.non,n, called on him again, and he gave me
: s ura', on the same Bank for 100000
u ,Ia these sums as loans or deposites,