Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-06-21

purpose might Justify the communiea-
ton, by stating that your first letter con-
tained ssuch an avowal Of the views of
the administration, as could not fairly be
misunderstood. ,"
Before proceeding to comment on
these views, Mr. Il. thus states the New
Hampshire case:
"On the eve of an election for an Of
fcer of this Bank in New Hampshire,
the Senator from New Hampshire, the
Second Comptroller from New Hamp-
shire, the Legislature of New Hamp-
shire, the merchants of all parties in
New Hampshire, were all arrayed to
complain of his abuses, and to show how
loudly public opinion demanded his re-
moval, Just at the moment when the ad-
ministration had declared to the bank
that public opinion was the only safe test
of such accusations.
"Happily, the Board Of Directors are
but little sensible to influences of that
description. Instead of yielding to these
complaints, they examined them, and,
after calm and thorough investigation,
they found that all these accusations were
entirely gr'oundicss; that The mOsi Jealous
Q} his enemies did not reniure 10 assert mat
lie had erer, on amy occasion, been intlu-
enced by poiiiica, feelings, and that this
public opinicn, so imposing in the mist
of distance, degencratcd into the per-
sonal hostility OF a very limited, and, for
the most part, very prejudiced circle
MIR Mason was, therefore, immediately
neglected"
! Mr. b. then prelaccs his argument, as
as follows:
. "Alfer n very deliberate, and we hope
n very dispassionate consideration of all
these circumstances, the Board of Di-
rcctors think it evident that the Sccre-
tary of the Treasury believes
"lst. That the relations between the
Government and the Bank confer some
supervision of the choice Of the officers
of the Bank, to the proper management
ofwhich his Interpretation is authorizeh;
"2d. That there is some faction of the
Government on the Bank not precisely
explained, but in which he is the proper
agent; and finally,
"3d. That it is his right and his di,ty
to suggest the views of the administra-
ton as to the political opinions and con-
duct OF the officers of the Bank"
These positions Mr. b. meets and tri-
umphantly reiutes, concluding his Letter
follows:
'Iti is, | hope, almost superfiuot:s to
add, that, while the Board of Directors
deem il their daty to express their dissent
from your views IN regard to the admin
istration of the Bank, the difference is
wholly unaccompaned with any feeling
of unlricndliness towards yourself or the
administration. To both, in the sphere
of 1nty allotted to it, the Bank has given
the most cordial support; to both it will,
hereafter, give Il cooperation equally
zea lous in all its appropriate duties"
Mr. lngham's reply is long, elaborate
in part, and in part ironical and sarcastic
He disclaims aay knowledge of Mr.
HIPS movement against Mr. Mason, of
which there cannot be a doubt he was
ignorant. He was, it rs evident, the a.,
gen, Of the designs Of others, and not
aware, probably Of the impulse by which
his own motions were urged. lie con-
tends stoutlv for the supervising power
Of the Government over the Bank, and
It's power and right to coercc it by with
drawing public deposites, SC. For,
says he,
"The Bank cannot, if it would, avoid
the faction ofthe Government in all its
legitimate operations and policy however
disposed it might be, after calculating the
immensely of its Golfers, and the expan-
sion of its power, to assert a superiority
or insenslbility to such action. The
protension could only excite a smile;
compared to the Government, the Bank
is essentially insignificant"
Asserting the power, the Secretary,
however, says, for himself, "No one can
more fervemIy desire than do that the
Bank shall, in all its ramiiications, be
absolutely Independent of party"
The final Letter of Mr. b. on this sub
ject is short, beginning as follows:
"I had yesterday the honor of receiv-
ing, and have this day submitted to the
Board Of Directors, your letter of the
9th inst. October 1929 They have
instructed me to say in reply, that, OBJ.
serving as they do with pleasure, that
the view, which they thought disclosed
in your previou correspondence are dis
claimed, the whole object of the Board,
in renewing it is accomplished; and you
will have the goodness to consider the
remarks bearing on the presumed as
sertion of those views as no longer ap-
plicable."
The point Of this Letter, however, is
to be found in the following paragraph:
"You have quoted various passages
of the correspondence between the Sec