Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-07-09

o1UKsrED SrArEs BAEx.-A writer IN
the Philadelphia Gazette, has addressed series
Of essays to Mr.. BIppLs, in regard 70 the
| manner Of his management Of,he United States
Bank. We copy the following from the sixth
essay:
"Lot me admonish you, Sir, to take an ex-
ample from that man, in whom was combined
almost every worthy quality. your Excellent
Predecessor. Brush away those Flies which
have swsrned about you, buz]ng in your ears,
nought but notes Of fulsoma adulations Cast
off those Leeches that fastened upon you the
moment you were seated in tho Presidential
Chair, and have been fattening upon tho sub
stance Of the Public. Recollect what should
never be forgotten, that you ars st the bssd
Of an institution, which, more than any other.
by its good or bad mana cement adds to, or
detracts from. our national reputation abroad.
Beware how you lsion 10 those who hover
around you. and wai strive TO lead you ioto
the belief. that what have written. 10 not
road or regarded. Be cautious Of being lulled
into 4 security which will prove fatal, by af-
fscsing TO think, thst am influenced BY vim
dictivs motives, and isspponted feelings. II
d not 90. The Bank Of the United States,
cen to mo nsither confer benefit, nor cause
harm. Their friendship, OF their enmity are
alike 10 me. The good Of my country only
anim0tes me. I'll have made any statements,
uafounded and incorrect, would il not be bet
tor to refute them openly, than to send your
friends about With half made up, and fictitious
statements to exhibit In secroH Having every
official document 10 refer to, with what ad-
vantagcs you can expose any false statement
of mine, and the more publicly il is done. the
greater will be the triumph.
have said that will cause reformation,'
that l repeat. No consideration shall check
my persevering (if necessary hersnfter) until
that object 10 accomplished. trust return I
to my labour will not 90 called for; but Sir II
am compelled 10 come forward again, IT,
there is one spark Of sensibility then existing,
I will arouse il in the breast Of moro than one
individual. If the character Of the bank has
been prostituted to subserve Family interests,
I will show it, II the Funds Of the Bank
have been squandercd, in exorbitant salaries,
and outfits, to special favorites, upon ridicu- |
lous missions, osfensibiy on account Of the
Bank but in reality to serve individual pur- |
poses. strong proof shall be furnished to cor |
roborate it.
II the confidence reposed by foreigners in
the Bank, from its national character has
been betrayed, their ms ructions relative to
the disposition Of their funds, arising from div-
idends received, or stocks paid cut, been COM
municatcd to any one whereby speculation
has been encouraged, and peculaiion allowed
TO prey upon their interests; I will shew it 10
my readers; also shall explain what now ap-
pears clouded in mystery, the circumstances
which called forth the declaration Of incapac.
ify for tho situation Of the former Cashier,
and who was at the same moment tempted by
a considerable increase Of salary to accept
ttop NJ tr,,a nd OF
greater responsibility. When that explanation
is given, il will be seen why many Of the other
officers met with such gross injustice. II
were best they should remain hidden, and |
shall be pleased, not to lind q necessity OF
bringing them TO the light.
Ifappropria,ions made under tho former ad-
mnisira,ion, have been misappled under the
present, it shall be pointed out.
Many transa ctions reported to have taken
place during the three last years. il were
better should pass by without investigation,
and shall regret il circumsi ances occur, re-
quiring that should make them public.
If when making increased dividends. the
Bank has not made provision for all its losses.
(noth withst andng tho large sum now standing
at the credit of Profit and Loss accounts) but
have been dividing in part out Of capital
that shall be satisfa ctorily ascertained and
proved. Before concluding. let me address a
few words to the Directors. Examine the
BoDks and determine for yourselves the real
situation of the Bank. Do not be the retail
ers of that, which proper examination, will
lend you to no doubt Let me most respect
fully request, that my statements may not be
again declared unfounJed, until there is some
proof to substantiaie the assertion; else the
feelings of some may experience modification,
and they subject themselves TO rdcule.
Candour requires it, and justice compels me
to say, that believe it 10 be owing moro TO
your having been misled, than by voluntary
design that errors havo been committed. But
the consequence have now become 20 alarm
ing, that further hesitation would be construed
into weakness, and longer silence into sub
m sissi on -