Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1832-06-21
y OF r I O a L.
[From the National lntelligenccr.
A POLITICAL REVELATION.

II IN inc peruSal oil the universally rCa'
and much admired Counter-report Of NJ
Adams on the Bank of the United States
our curiosity was raised by that passag
oft which speaks Of certain corrcspon
dcncc, which took place in the Summe
Of 1899, between the Bank and the Gov
ernment, concerning the Portsmouth
Branch Bank, which, though not noticed
in the Report Of the Chairman of the
Committee, are stated by Mr. A. to be il
his opinion "more deserving cjMe attention
Of Congress, AND OF THE NATION, ha,
amy other Of The papers commented upon /,
The report" This curiosity we have n,
doubt our readers have partaken with us
and will be pleased with more particu
lar account of that matter, which we vii
: endeavor now to lay before them.
The Documents withheld by the Ma,
jority of the Committee, and communi.
Gated by Mr. Adams with his Report, are
printed, and among them, besides other
extraordinary matter, we find the Cores
pondence alluded to, as above, by MI
Adams. Not being able to make room
for the whole of it just now, (for it would
fill newspaper,) we analyze it for the
information Of our readers.
The first letter in the series is from the
Secretary Of the Treasury, TO the Presi-
dent of the Bank, dated July llth, 1899,
and marked "Confdential."
This Letter begins as follows
81 herewith transmit a copy of a conf
Dental letter received from the Hon. lie
vi Woodbury., Senator of the United
States from Ncw-IIampshire, containing
a complaint against the President of the
Branch Bank of the United States at
Portsmouth. Complaints ia similar M
,tnre have also been suggested from other
places, particularly Kentucky and Lou
isiana. These, when presented in n
more distinct form, will also be commu-
nicated to you.
"Thc character Of Mr. Woodbury. JUS
tilies the belief that he would not make
such charge upon slight or insufficient
grounds; and, from some expressions in
his letter, it may be inferred that it is
partly founded on supposed application
of the influence of the bank, with view
to political effect. But, in whatever as
pcct it may be regarded, Il would invite the
serious attention of your board to The al
legged cvit, and if it should be found to cx-
list, | cannot doubt that you will apply
AN EFFICIENT REMDY."
The Letter then goes on to make some
general remarks on the theory and prac-
tice Of bank discounts, in the course Of
which, deprecating the employment
Of the influence Of the Bank against the
Administration Of the Government, the
Secretary "discihims all desire to derive
political aid through the operations of the
Bank" So far the Secretary, who it
will be seen was not the instigator but
the agent of the attempt to subjugatc the
Bank Of the United States to party in
tcrests. We have, however, markedly
Ea'ics, sc. the particular expressions
which give character to this 'conlidentiari
letter from the Executive government to-
the Bank government.
The next letter is that from Mr. Wood
bury TO the Secretary of the Treasury
enclosed in the above, dated at Ports
mouth, 9th June, the material part Of
which is as follows, (the Italics, &c. in
this, and in all the subsequent extracts,
being our Own:)
"The President Of the Branch at this
place was changed last year, and the sal
ary greatly increased; both which mea-
surcs have given much dissatisfaction, as
well to the public as TO many Of the
"The new President, Jeremiah Ma
son, IS a particular friend Of MIR Webster
and his political character is doubtless
well known to you. Mr. w. is supposed
10 have had much agency in eflecting the
change. The course pursued during the
year has greatly aggravated the original
dislike to the appointment. Our COM
nercia men arc almost unanimous in
heir complaints, and The people in the in
erior, who were wont TO be accommoda-
cd formerly at the Branch, join with
hem in desire for the removal Of the
present President.
"Tbc objections to the continuance of
Mr Mason in Office are two-fold-frst,
ho want Of conciliatory manners, and in
innate acquaintance with our business
nen; and secondly, the iluctuating poll
y pursued, in relation to both loans and
collections at the Bank, together with
he partiality and harshncss that accom-
ANY them.
"ln making these general representa-
ions, | am repeating what are in the
mouths of almost every citizen, Of what
yer political denomination, and am in
INVITING, at the request Of many, your in
'uence al The mother bank in producing a
hango.