Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1832-06-12
Tts cnatstuttouma 1Glblo.



that passage OF ii which spcu&s OF certain cor
Responsiveness which tool, place in tine summer of
1922, hetvccu the BluN and the Government, con
corning the Portsmouth Branch Bank, which.
though not noticed in the Report of the Chairman
of the COMMITTEES, ~ sti'ri 10y MIR. ADAMS to be
i'm his opinion 6Cs,rriUy Of tie attention q {
Congress, ANp or Tur NvrI"N, th0H 0Hy otter of
fho JIDc'N r&HtWCHic3 Wp"N an Hc rCyyrt." This
curiosity we have doubt readers have par
taken with us, and will nc pleased with more par.
Gcuar account Of that matter, which We Will en-
deavor now To lay before them.
The Documents withheld by the Majority Of the
Committee, aud communcatcdhy Mr.. Aptws with
his Report are printed, and among them, besides
other extraordinary matter, lind the correspond
cncc aludcdto us above, by Mr.. Adams. Not be-
ing able to make room for the whole of IL Just now,
(or 1T would fill newspaPcr) amalysc it for the
information of our readers.
The first Letter in the series is from the Secretary
of the Treasury To the President OF the Bank dated
July IL, 1929, and marked Son fdcmtai."
This Letter begins follows:
al herewith transmit a copy of confdcDiiai
letter received from the Hon Levy Woodbury.
Senator of the Uuited States from New l!amp.
shire containing complaint against tire President
of the Branch Bank of the United States at Ports.
mouth. Complaints Cf Smiiar nature have
also been suggested from other places, particular
~ Kentucky and Louisiana. These, when pre-
scented in more distinct form, Will also I've COM
municatcd To yeu
'''lhc character of Mr.. Woodbury. ms.iiies the
belief that he wonld not mako such a charge up
ON slight or insufficient grounds; and from some
expressions in his letter may be inferred that it
Is partly founded on supposed application of
the influence of the bauk, with a view tn politi.
cal effect. But, in whatever aspect il NAV be re.
,arded, would invite the serious attention of your
board to Tie alleged crH and if it should he found
to exist, cdnn0t dOULI that you will apply AN EFF
YICIENr REMEDY"
The Letter then goes on TO make some general
remarks on the theory and practice of bank dis.
counts, IN the course OF which, dcprccatiug the
employment of the influence OK the Bank against
Isl -nt pftl =.
tary "disclains all desire To derive political aid
through the operations of the Bank" SO far the
Secretary, who 1T will be seen not the mIstga-
tor hut the agent of the attempt TO suhuratc the
Bank of the United States to party interests. We
have, however, marked by Italics sc. the partcu-
ar expressions which give ch0y0cfer to this soon
fdcntia' letter from the Executive government to
the Bank government.
The next Letter is that from Mr. WooDEuRY TO
the Secretary otthe Treasury enclosed in the above
dated AT Portsmouth, 27th juno, the material part
of which is as follows (ihc Italics &c. in this and
IN all the subsequent extracts, being our own:)
''Ihc President of the Branch at this place was
changed last year, and the salary greatly iucrca-
scd both which measures have given much diSsa-
tisIact'on, as woilt0 the public as To many Of the
stockholders.
''Thc new President, JEREMIAH Mason, is a
particular jricHd II Mr.. WEBSTER, and has politi
cat character is doubtless we'll known to YOU. Mr.
w. is supposed to have had much agency i'm effect
ing the change. The course pursued during the
year has greatly aggravated the original dislike TO
the appointment. Oar commercial men arc almost
unanimous Ill their complaints, and tire Peopic in
the interior, who were wont To be accommodate
formerly ui tho Bra n, join with them in desire
for .E. removal o.. iI. present President.
ID. t"Jn.' .rt ." ;he continuance OF Mr.. Ma
60" ir offs. .s. '.aiold--ijrst, the want of CON
-Ho'uly mtnn,rs. and intimate acquaintance with
DHr husiu, .leu; and, secondly, the tluctuating
policy r1rs'ed IA relation to both loans and col
icctIoES at the Bank, together with the partially
aud harshncsS that accompany them.
''ln making these general I ami
repeating what arc in Tie mouths Of almost every
Gu zen, of whatever political denominations and
an. inviting at the request of many, yo"r igR"-
e"e' ut tie mother ja"h in producing Il change.
y! course H'H situgtion has been SUch as 10 de- !
li.re me a. mHch fcTSo"gL E"owiedre NJ .Ir. N0- |
sons administration Of lie R0H6 cOHccyHs; but nc !
yer. on any occasion, have known complaints so !
wide and litter as III the under consider
alton"
The reader wants no index of ours to point out
the prominent feature OF This communication. 1t
is as plain as the Mir. WEBsrERs face.
The next Letter is from Mr. BIpnLE the Prcsi- |
dent of the Bank, in reply to the Letter from Mr. /
Secretary iNGHAM, and It's enclosure. II ac.imow- /
lodges the receipt OF the missivc, and says that it
has been submitted 10 the Board of Directors, /
''who will not fail 90 examine the allegations of
'Mr. WooDnuRY, and should they appear TO be we'll
,lonnded, to apply am appropriate corrcctive"-
quoted, Mr.. BIDDLH says
"Thc obvious inference from it was that under |
the nfucrce of Mr.. Webster former President |
of the office received to make way for Mr.. Ma /
con with an increased salary, and that this Prcsi-
dent was using the influence of the Bank against |
the present administration.
"In answer, it is fit to say that this view of the |
subject is entirely erroneous, and perhaps the mis-
apprehension of gentleman of MIR. Woodbury. !
general intelligence is the best illustration of the !
extreme caution with which such statements should .
be regarded For
'lst. Tile Frcaidcat Of hhe Bunk ,res MT chaagcd.
hc late President Mr.. SI,l plcy, voluntarily de-
1pI e.,