Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-12-20
POLITICAL.
from the Washington Globe of Decent
RANK EX pose

BANK EXPOSE. 'I
In the National Gazette of tie lO;h inst. is the Bank
version oil ihe transaction relative 10 the per cents evil
IDENTIFY prepared by President Bddle himself Iii made
mp OF the necst suheruges under which official dcin-
quency sought 10 conceal itself
The first position is attempt show that the Score.
tary oil the Treasury sanctioned beforehand the
ments made by the Bank in England
We learn, that when Mr. Bdde was i'm this CITY uror
10 the passage OF the Bank Bill the last session OF Con
gress, some conversation took place between him and the
Secretary of the Treasury relative TO the povmcus NJ
the pubic debt TO be made the LIST October and Jan.
uary succeeding was then understood that the Bank
as agent OF British holders, controlled or three mil
hons oil The three cent stocks Not knowing what
extent Congress might carry their appropriations and
ing DESTROYS to cTnguh the debit the Secretary inGui-
rcd whether, If Ihe public funds should run short, the
BANK would retain the certificates controlled To The
amount OF tie deficiency, until the depostes OF the Co
Vernmen should be sufficient 10 thcui? Mr. fddc
replied in The affirmative. Flo went home and Congress
adjourned
Now mark facts aud dates!
No understanding existed betwecu Nj. Bidde AMI the
Secretary IN relation 10 The amount of public debt which
was TO be paid Biddle only that the Secretary in
tended pay to the extent OF the Government deposte
and that he should happen exceed it small sum he
wished the Bank to hold back few certificates which il
controlled, week orso, until funds came to ha;d.
In TINS stale OF things, what does Mr.. Bddle? He
goes one' ana makes immediate arrangement Tor sending
agent to London negotiate of
fire millions for year, Did he know what Tie Secre
tdry would determine TO pay? No Did the Sccrc,rv
ever imagine, say, there would be deficiency of Gge
nIiHOnS2-Did the Secretary tell ha tho Government
would not have funds to meet the deficiency for near?
No The arrangements all made and the aren't
sailed for England the 18Th July. On the 10Th july
In Washington, the Secretary OF the Treasury writes The
letter which the Bank has published IL probably re-
ceived at The Bank the 2Is three dGys after heir
65ent 1oas on has tc0y to England. Hear what Mr.
McLane says.
iL II was not until today that have Ioen able tho
therefore, now upon The amount
find was supposed you wsr h5Sc that we shall 5S c
pay off about at that lime notice viii accordingly
sSn paper o The payment OF that amount on the
YSs has been edood % @ a on 9 , n OF JaISa1y
apH 'st 90 PH5' fo"eys are HsaeieHt 10 complete O
,l may control Jaas are sg y Is,Sq'st e
You win be pleased ansf Of faads as may be
desirable preparatory TO the proposed Payments.
Your obodent servant LOUIS M,LANE
1t hence appears, that 1t not until that day the
l9 day OF july that the Secretary could ascertain the
amount Of appropriations made the last session of ron
grcss," and therefore, had been able 10 decide be-
fore upon the amount Of HE three per be re-
deemed the first Of October" A. the Secretary had
not, until that da, been able decide on the amount to
be paid, II is papdble enough that the Bank could a
tcipate deiciency and that Gen. CadwAdcr's mission
which had already been undertaken, could have been
suPernduced by any such prospecl-But in Mr.. Bid
dies reply how adroy, them he seized hold of the
suggestion OF the Secretary contrivc subcrfuge I'M
der which, II II became necessary, he Iaiglt ultimately
conceal Tic true Gyect OF the extraordinary mission
BANK United STATES July 2j. 1872.
STA; have had The honor receiving your Of the 18Th in
3per h October and tic emaians rd ON the m
understanding had between u dat, if il should pS
Tho public mGney are insufficient 10 complete those payments
have tho control until the funds meet toniho ia
The Bank has takee necessary STEPS 10 obtain the control of cor,
s4eh may convenience Of tie Gossrsmsy
have the honor to be, very respectfully, yours,
Hon. LooD AeG.yr Secretary Treasury WASHINGTON d.
The Secretary alluded to certificates which Tho RonL
then controlled agent for British stockholders but Bid.
die, in order his foreign mission by Government
authority arinly says, the Baah has tdken the ncces-
sdrg ftpS 10 O5dn the control If Il considerable amount
date the Government
When the reader advcr's to The fc ,l,at whom The Mi,
sion was got up, and when the Agent started Tor Europe
the Bank did not even know what amount the Govern.
msnt desired 10 pay; when he recoects ha in no event
was deficiency apprehendcd be yond few hundred thou.
sand dollars, which would be replaced in week or two
whereas the ohje Of the Bank Agent was 10 postpone
trs mMon' for a tchoie year; and that while tho Co
yernmcnl proposed only 10 pay the interest," which was
three per cent, the Bank agreed to pay IL and com
mission or Tie posipontmen he will pronounce this
tempt TO throw responsibility upon the Secretary and pro-
teci the Bank by securing official authority, Of the
weakest inventions, aud shameless suGterIgcs ever
Invented 70 avert merited rcprobaion
There another view t.. 81 ieet v hich makes Mfr
B"dle aPpear Absolutely ridiculous n his eiJrs at de.
cepon. The Bank "as then agent f,r the parnps ard
others 10 he Of twO or rec million. and "a sucI
controlled The ce,iifcaics The Secretary reo e.ts Air.
Hdile In case oil deficiency, delay lie rsenftio,
Of any cethcaes OF which IL may have he contio - &c
Bi'dle says in reply "The Bunk has fafcn fbc nercs
sary steps TO obtain The cOtrOi O considerable norton
~ these cerfVc0ics," &c. az this true No: i, was
we feVerse o, 'fnU No r from taking steps 10 obtain
the cohu0l o. more &c utcres IL putting out OF IT,
control those Which il had controlled befors Io>k a,
the arrangement with he rugs: they were 70 hue in
thu stock for the Bank and retain r. certificates or ous
year. Look u The arrangement the orki dsr in
Guiding the Birugs they were 10 wait wear r. caiviro
interest from ,he Bank aud returning the certificates -
Instead, terooe Of Obtaining he control OF more ceft
bcAies tre 'seps taken by The Bank were 10 put the
certhcsica already held by Them agents, c0reiy be.
yond heir control And NJ. Bddle now has he sS.ur
snce to say, HAT be liking steps comply with the
becreiay wishes, when he doing precisely the re.
gs,s@ II must be recoecttd, that ,he secretary de.ired
the cehcNes 10 be retained, by the stockholders but
by tho Bank anl noi by he Bank unless the public
f.caa NJ .t.1