Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-06-01


There is one other omission in the correspondence
which has been emphaically alluded TO by Mr. Ed
wards, and which shall, therefore, be particularly
noticed. IL is letter from the Secretary the Pre-
sident of the Bank ut Huntsville, of the 9th of July,
1919; aud Is more than referred to in the other
parts of the correspondence: whether it had been
communicated or not, was never subject of inves-
tigation with the Secretary until tho notice taken
OF 1t i'll Mr.. Edwards address rendered the inquiry
necessary. After thorough examination, however,,
1t could not be found, either among the records or
rough drafts; but, on referring, as last resort to
file of confidential correspondence which is kept by
Mr.. Jones, the rough draft of the letters there
discovered. A copy of i, is herewith transmitted
According to the views with which the corrcspon-
deucc was selected, under the first resolution of the
House, this letter which would have been
then communicated. 1t is believed, however, that
the sentiments and opinions disclosed in it, arc
far from furnishing subject of blame to the Sccre
tary aud, as Inc had communicated letter of ST.
miar import, written on the same day, to the Tom
beckbe Bank, il may be inferred, that IL was
withheld by any improper considerations of decacy
III respect To the matters to which they both relate
from communicating this letter ALSO 1T is believed
that the letter TO the Tombeckbc Bank of the 9th of
July, 1919, was also marked confidential, and the
opinion is strengthened by the reference made to
as = conlential,' by the President OF the Bank in
his letter of the 18th August, 1919. The word
fidental," was probably omitted through inadvcr-
tcncc in the copy that was returned in the Depart
mcnt; and thus il we.t upon the ordinary record.
If this opinion is correct, the communication of this
letter corroborates the fac, that the omission To COM
muncatc the letter to tine Huntsville Bank was not
owing to the matters it contained but the crcum-
stance ofits being file noi before the person by
whom The CORE spopdcnce was selected.
The Secretary is not aware, that any other let
tiers on the confidential file appcrtain the objects
of the present inquiry. He submits, however, such
of them rs are addressed Banks to the examine
ton of the committee. He takes the occasions also,
to tender to the committee, as lie did to the commit
tee appointed under the resolution of the 9th of Fee
bruary, 1893 the inspection of any of the records
correspondence in the Department, that may be deem
ed necessary to elucidatc any of the matters
nccted with the inquiry.
Having disposed Of all the minor topics of acccu-
sation brought against the Secretary in MIR. Ed
wards Address, il remains to notice the grave
charge which he has preferred of having mismanag-
cd the national funds. AS far this charge is found
Cd upon the particular transactions which have
formed the subject of the foregoing obs 'rvations, it
IS presumed 10 be sufficiently rcfucd. The only re-
manning ground of charge :hcn is, the measure of
employing the State Banks repositories of the pub
lie moneys i'll tho Western Country.
The circumstances by which, this measure was
rem Ieled necessary, and the views with which it was
adopted under the sanction of the President Of tho
United States, have already been explained i'm the
Sccrcarys report, OF the iitli February, 1893. and
in his letter the Select Committee, of the 9th of
February, 1875, to which reference is rcqucs-
ted. 1t may he proper. however. To remark, here
that, throughout the Western Country, general
and severe distress had followed the resumption Of
specie payments Oh the part Of the Treasury, every
disposition had been entertained 10 make The de-
maud; of the government, press lightly suffering
people. With this view the Receivers and Co!lec-
tors had been authorized, generally. to receive i'll
payments to the United States all the snecic paving
bank notes in circulation and the Bank OF the L.
nited States had literally seconded the views of the
Treasury by authorizing the reception OF these funds
from, the Rece"ers ard Collectors. This experiment
though ii gave relief 10 the public debtors, had been
found injurious 10 the weifdrc of the Bank and bv
proper regard for its safety, that institution
rcd i,sclfconsrained to decline the reception
al aucst all of those funds which form the currency
of that portion of the country, and of those which
lone il could prudcntly take, scarcely any were in
circulation. What effect this change had upon the
state OF things may be inferred from few extracts
from of the communications which were about
that time made - the Secretary IN relation to the
subject,
The debtors of the United States" say the Di-
rccors OF the Bank of Viucenncs, in their memorial
of the 9th January, 1919, in the Western country
l'or uukcr distressing and almost nsuperable diff
cuiics IL meeting thcir engagements not so much
from the want OF means, from tho scarcity such
funds as are receivable III payment of public lands
Should the country continue i'll its prescn. situation
with respect To these funds many honest citizen.
many industrious farmer, who has migrated TO
this country and has paid his last eighty dollars as a
hr5t instalment his quarter section OF and,wi he
compelled, at the end of five years, to leave his ia
voric spot his cabin, ard all the comfortable i'm
provements, which the labor of his own hands has
acquired, and, with his wife and children, seek
new home, without money 10 procure il. ArG WHY
Because the produce of his farm, although he may
have abundance to spare, will not command such
funds as Government demand for the completion of
his payments" Other representations, which are
lpr fra, frpu po,-
tativcs, whose character is sufficient guarantee
for the truth Of their statements, corfoboratc these
views. The Hon. Mr.. Hcrrick, in IL letter of 18th
March, 1878, considers the adoption of some luea-
surcs on the subject as desirable, well with
view to relieve the people to preserve their ailcc-
tons for the present administration of the General
Government. The Hon. Waller Taylor in a letter
of the 3lsi March, 1915, cncloscs Il letter from a
respectable source stating that twenty per cent. had
been given by those who had payments TO make in
tie Land Oficcs. obtain such MONEYS az would be
received; that few entries of land were made aud
that many who mad como from distance to cnte
Land, had gone away without dong so, because the
money they had brought, though consisting of the
notes of banks ofesablishcd character could not be
received. And Mr.. Taylor concurs in opinion that
the operation Of tic existing system was prciudicial
to the purchasers of public lands, as well as the ci-
tIzcu5 OF the state. In Joint letter addressed to the
Secretary. the l3th April, 1918, by fourteen wes-
tern ncmbcrs OF Congress, viz. the lion. Joseph De-
shu, VIM. H. Harrison, Robert Moore, Henry Bald
wiz, VIM Hcua:ICks, James Noble, Waller TAYLOR
Richard G. Anderson, Levi Barber, Thomas Speed,
John w. Campbell, Samuel Hcrrck, Peter Hitch
cock, and Philemon Beechcr; these gentlemen all
concur in stating, that every mail from the West
brings tho complaints and requests of the peoplc
the subject cf tie pccunarv state of our co,n-
try;" and they conclude by recommending, as Il
measure of vital Importance, the reception Of such
western paper of sPacic-Pdyins banks. as we're in
good credit. The Hon. !. Mclean, OF iluois. i'm a
t,t r,,T ,i,c Iii,