Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-05-29

the expiration of the charter nor can the preScp pce;
dent Of the Board be President of the Bank under the
renewed charter but by the SURFACES of the stockholders
according 10 their respective privileges of voting It.
therefore any misconduct had been dscoveable in the Of
hca conduct OF the President of the Bank the proper pun
shment Tor would have been his removal from Offices and
the same may be said ofany other Of the Directors But
Tor ie' faults TO punish the stockholders who had
nunon or pTivy with theni-far their errors 10 lepriyc
the great mass OF the community OF the benefits and
Vanages secured to thein and enjoyed by them through
me hsrumeniai'y OF this greo'nsiiuion this whole
Union, would proceed from theory crimes and punish
mcns unrivalcd by the Political inqusion of Venice or
me religious lnquisiton OF Spain theory by which the
crime would be committed by of persons and the
punishment inflicted upon anoiher--a theory, by which
inc s''ckoderS wonld I've mucted in their property, be-
cause the Directors hnd been lcss their trust and the
People beret ofpublc blessings, their confidence
in the Integrity Of their ngcnis had been betrayed
AZ tho close Of the long commentary of tie inaority re-
port upon the transactions between tie editors the New
York Courier aud ENQUIRER il is observed that among The
documents exhibited 10 the COmnttce reported 10 the
House, arc four other of loans long credit made
by the Bank The report neither mentions the names Of
the individuals parties 10 these contracts nor the cores
pondehce and testimony relating them, which laid
before the COMMITTEES. The subscriber approving the dis
creion OF the majority in ibis particulars will deviatc
" nc example set IN ule report lie will barely take
occasion from to remark, that the names OF those indiv
doals aud OF their and with the Bank
cannot be brought before the public 10y the Committee,
without gross injustice. Those transactions he bound
TO believe were perfectly justhabe in all the parties
me contract but he was under full conviction that
neither he the Committee had The right TO inquire into
them, whether for justification Tor The
Jecnon OF the subscribers 10 all inquiSion into motives
for actions unIorbden by law But IN each Of tlcsp four
casesn those Of the accounts OF every editor Of news
paper, OF every member of CoqrcSS and of evefv nor
connected with the Executive (overnrneiitif the
fact OF the individual account is exhibited TO the pubc IL
is, upon the planes principle OF Justice the right of b
individual TO have alike exhibited the public, all the
circumstances connected with the transactions which he
may deem essential 10 his Justification. But is that
justification? is Justification limited by The boundaries
OF the law? Mo- that is sufficient. The account in
Bank must be coupled with the opinions of the
individual, 10 point the finger him tie Bank as for
honouane cohuuct ana corrupt purposes So was in
the OF James Watson Webb and of hTordecai NJ
Noah. Why was it not so in other cases? Why are the
names oher printers aud the amount and the aspect of
their debts TO the Bank principals enosors with
held Why other editors, having large accommodations
IN me BANK the names OF their cndoiscrs The character OF
their settlements the present state of their
and conemponneous exposition of editorial friendship or
hostility to the Bank, forth in all the develop
ments of the Bank debts and editorial speculatiols
OF James Watson Webb and Mordecai NJ Noah?--
Why the day Of an editorial discount and the av
OF an editorial puho pancgyric, blast Of abuse upon
the Bank, brought in juxa position each other so thar
suspicion may yoke them ler in the rco,ny of ca,,s
ah, elect IN any other than thcils The Subscriber
believed that there other of editors and pn
ters with the Bank, exhibited the committee which
compared with editorial ucuba'0us in the newspapers OF
Ine same edofS at me same lines with the discounts,
at the present day would suggest reflections quite as edi-
tying 10 lie spirit of reforms the debts dissertations
oil James Watson Webb and MOrdccni NJ Noah. The
majority report has buried them in oblivion There let
them remain The subscriber will disturb their re-
pose u he asks OF the candor OF the community and of
the seliresPcct of the House. representing the feelings of
the People, that legislative investigations may be
instituted at the expense OF the nation, color OF an
examination into the books and proceedings OF the Bank of
the United States into thc political purify and undertaking
consistency the conductors OF the public press
it is with great sasiacon that tie subscriber declares
his entire and undoubing conviction the result Of all
the examination which, under the resolution of the House
ana the unhoundcd range OF inquiry sanctioned by the
majority OF the committee, he able 10 give the books
and proceedings of the Bank, that misconduct whatever
is mpuiable TO the President, any the present Di
recois OF the Bank That in The management of The az
fairs OF this immense institutions series Of nearly
ten years. occasional errors of Judgment and possibly of IN
"Nere'ce nave pecn committed, Is doubtless rue-in
the multitude OF relations Of the Bank with tLe nroper
y oil me whole community The Board OF Directors of the
aren't D'N, or oil some oil S branches have sometimes
mistaken the law, and sometimes have suffered hy insao-
cd confidence spirit OF predetermined hostility uncon-
oiied by liberal sense OF justice prying for flaws and
hunting Tor exceptions, may crafty itself, and swell win
eXuauon at It's sgacy, in discovering an error or ar
gung miSconsrucoI Of movers I'm e conduct of ia,
present President and Directors The Bank OF tie % 3 mo-
Intentional wrong and no important voluntary error as
been committed. he deems ls lrotor ,,c e. 49,;
TO those worthy and respectable citizens in the face ocis
House and Of ibis nation willing he is TO abide npon H.
The deliberate judgment OF after times He deems the
more inpenousIy equfed OF him a signal yndfcaion
OF the honor and integrity Injured and ted NOR
1t has been impossible Tor him observe without deem
concern the spirit and temper with which this nvest;ga-
non mas peen prosecuted particularly with regard the
President OF The Bank. As one example of which he
would call The attention Of he House the testimony of
Reuben NJ Whtncy-tO the manner in which il was pro-
duccd, and to the catastrophe in which il terminated
On the ID of April, the Chairman Of the Committee ask.
ed oil them, authority TO issue subpoena to summon the
attendance before them Of Thomas Wilson, heretofore in
the year 1921, Cashier of the Bank to testify as wit
The subscriber cnauired what il was o.neced NJ
wilson would proves which question the Chairman de-
cned TO answer The subscriber objected therefore TO
The issuing oil The subpoena, ana te for was for
that day Withdrawn.
The next day it was renewed with statement i'm writ
ing hy the Chairman o several allegations, as the sub
scrber conceived amounting charges against the Presf-
dent oil the Bank Of cmbC2zlemcnt Of the monies OF the
Institution The subscriber enquired from whom tl $50
charges had been received, which the Chairman de-
cined to state. The subscriber cd that copy of the
charges should be furnished 10 the President Of Tho
Bank. But the paper Withdrawn by the Chairman
and resolution substituted in its place which was
entered upon The Journal Of the Committee The objection
OF ic subscriber 10 his of proceeding was al his
request entered upon he Journal at The request Of
the Chairman entry also made the qrounsSSpon
which me deemed bis course in this respect iustac
Tho objection a. the subscribe was not that The Chair
man had thought proper 90 listen privately 10 secret nlo
mers, bat that he required the OF the committee for
call OF testimony deeply affecting the moral character Of
the President OF the Bank and yet withheld from the
committee the name Of lis Informant The subpoena 10
Mr.. Thomas Wilson nevertheless issued Tie char
zee Against the President ~ the Bank were that Thomas
Biddlc, distant relative Of his, and Of the most emf
nent brokers Of Philadelphia, bad beeH IN the habit by
pcrmsson Of Tie President, Of taking money out of the
First Tlcrs drawer, leaving in its place certificates Of
siock OF keeping the money indefinite number Of days
ana then replacing he money and taking back his cerih-
cate Of stock. UhO payment n interest upon the mo-
MES Of which hc had had the usc The quinc OF the
charge te by MIR Joroas Bddlc Of The roopios
OF The Bank without interest And there was another
charge, at The President had also been in the habit Of
making large discounts upon notes Of Thomas Biddle
without consulting tho Directors, between the discount
days. and at e nocs entered Of the previous
discount day.
Mr. Wilson's testimony completely di,proved 20 hr a.