Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-05-15

pointing out the dangers which in political point Of view
were 10 DO apprehended from passing the resolution then
before the Legislature and urging strong terms the
withdrawal OF It by the mover; il hc could with
uraw II, then the necessity of permitting il 20 lie quiet
~ ON the table. In that letter, stated my firm con.
vicon, that although the present charter of the United
States Bank Objectionable, vet a similar insn,.
ton, or the present charter modified bv provision that
Branches should only be established bv consent of The
States with their capital subject 10 the same toxrs ne or
local institutions, was absolutely necessary authorized
him to exhibit letter TO the gentleman who introduced
the resolution who was known to and in the event of
his not withdrawing il suffering on the table
advised him (Nir L. TO move for modification approving
OF rc-charter properly restricted MIR. Livingston re-
Piled to this letter by stating that the mover of the reso
i9u0n was no' thch IN Albany, and that it proba-
Die Inc would ever call il up. He agreed with inc sub
slania'y in my views and concluded by saying that il
ia" Oee introduced into the House without concert
among the leading democratic members OF that body and
that called up he should postpone it, or so TO
modify II as TO correspond with his views the subject
About this time my sickness considerable alarm
my lille was generally dcspaired Of and establishment
requiring funds my father-in-law MIR Stewnrt
proposed to advance $40 OOO provided Col Tylee wo
raise ana put into The paper the amount which
would enable us to get along comfortably. made the
proposition TO Col Tyce but he objected lie said il was
not convenient for him TO 10 that business did not
accord with his habits and pursuits expressed deter
Noah Mr. Bennett and Mr.. Hoskns and they partially
agreed to purchase, but when apprzed OF the inen
ton, gave them notice that should object unless ley
Drought INTO the capital OF tho at least $40 600
lhis they could not accomplish and the negotiation ended
SHORTY afterwards II was again renewed, and Mr. Noah
expressed his belief that he could through friend raise
the whole amount required effect the purchase if I
would make out statement OF the concern and from that
statement the loan should appear to be safe one While
TINS negotiation was still pending, | ycnt 10 Albany
and while there, strongly urged upon our immediate
friends the danger OF calling up the resolution ngains
the United States Bank, in Consequence of the eSn~
exhibited by the Legislature of Pennsylvania. | un-
dersood from Judge Marcy our present Ssna,or in
Congress from Secretary of State and from, Our Conn
troler, from Mr. Livingston and others. that neither of
mem had been consulted on the proprety of introducing
the resolutions and they unanimous i'm the opinion i
ought not to be called mp also learned from an auhen
nc source thIt gentleman who is said TO be much
cerhed IN local Bank Stock SpccuIaons had made app
cation, but without success to different members of M
House TO Introduce similar resoluon-hat there was
he doubt but il had been introduced at his sugOeson
anu 'ha' t1 persons connected with the Mechanics. and
Farmers Bank, the Editor OF the Argus and otlars c,
heceI WIN them III stock sPecuIaons determined
TO push 1t through all hazards as political nuesion
was satisfied that these the objections politically
TO doing so, and could not the conclusions dat If
tey PerseVered would be from motives al the
risk OF bringing NewYork and Pennsy lvana in col
iSon then openly opposed such proceeding and re-
turned to New York. Before went to AILony me-,
toned to the gentleman through whom Mr. Noah was nc
goclang his loan, and TO Mr. Noah that was PREPARED IN
advocate modified re- charter of The RAM Of Tn r. So,
and the nature OF letter had written 10 Mr. Iynuston
Mr. Noah stated his fears of the effect of such course ON
the reputation OF the paper and said questioned the
cohsuuonaty OF any Bank, unless located in the Dis
tnct oil Columbia, but admitted its utilv The Gentle.
man referred to, urged advocating an unconditional re-
CHARTER but expressed great satisfaction at learning that
was III AVoT OF -chartcr underany circumstances On
my return from Albany Than ever satisfied oc
the necessity OF United States Bank TO prevent The local
Banks controlling the politics of the State and 50
cd myself both in public and in private; and the following
extracts from am editorial article in relation TO the cstab
hshment OF Branch Buffalo, published i'm our columns
10Th September 1929 will prove that the idea of hosti
TO the United States Bank by of stock i'm our local
institutions was not of recent date and instead of or,a
confirmed. ~ 9 e'e'y
Extract from Editorial article in The Courier and
Bnq"y@ Of 29ha September, 1922 heated Branch
The location Of U. s. Branch bank in the Western
District OF New York. is very important movement in
many points OF view So far relates business and
interests OF Buffalo will doubt be advantageous and
give new impulse to its trade and enterprise
"What effect this Branch is TO have on the new ar l1
Banks IN the country or in favour of against the new
system as adopted by the last legislature VIC have NO
means OF iudsingH aogetheT natural TO ernect tbat
men Interested IN other Banks chartered Jv the state
u@ oooea TO o6e screen per cent toH be satisfied
The whole matter of the Buffalo Branch is however in G,
nature OF an experiment, and will require some time to
Believing as do @ & 0 SRSTa snd desire f of @ Com
mee is simply 10 arrive at facts, whether for or against
tho Bank, have embodied in this reply much that could
not have been drawn forth except bv questions ,vbrL
would have partaken OF the character against
my integrity ana which in consequence should have
respectfully declined answering.
For the Information of the Committee will now add
that al tie time the gentleman referred to- urged our adj
Vocahng an unconditional re-chaTter oil the Bank nor al
any other time dtd he any either person promise or
msn"@te, drecHy or indirectly, that the Bauh IF he
united States D0ud maize as loans or 0ccouooI,,;ons
Of any Kind description lchafeyey AS have beC,r
stated ice ne0er ente dined tie ided Of apping for b
tOniiS n'tH many months heren/tey ic6ep nm, yocoJ
Banks refused 10 discount for as good paDer and a.
bccved (whcthe correctly cannot saw because
we advocated the rc-chaTering the Bank of the United
states. when we did make the application for loan it
was without the knowledge or advice of the indiviJnaI
heretofore referred TO, and am not aware that ere nj
inns moment he isappzed of having received ann, ac
cOmmodation from the Bank. -" "
VIII also state for the information of the Conuiuco
mat am satisfied In my mind he did not act R tlc
agent oil the Bank in making the loan to Mr. Noah and for
the following reasons HHeGrs pidce he ,c1u{ moi bo
mare charged a commission Of IL per cent ami So
cOndy, the money IN such tUOud hare been firth
coming tohen required But, instead nj mat heinz fe
case he gaze his and his Jtheys paDer at short Jes
'c,ct i"ds not paul ,CheR dIe, Ichich mn o,c
M SteWaf, cdshed, and One-thrd Of 1cbich ,oas re-
placed 6y ms notes at sriy dds ami sic months bccoS
he could not raise the JuIds at the time he hal agyce{
w - 80 !
have said that believe the article of 30;h Novcnbcr
1872 was IN part at least, written Washington con-
slderlt my duty to add that have no reason TO believe il
was written with the knowledge of or expressed the view
OF the then Secretary of State From an intimate know
ledge oil ms character, am convinced he would not have
approved Of such proceeding.
1t may be proper to add that since we procured m LOAF,
oil S1VOOO from the Bank, havo added to the proper.
W OF INC Courier and Enquirer, boa press and types
winch nave cost as uplrGrds If $40 900 anu mai mr.
tDh0e amount NJ otr accommodation tram The RINK nj
ms time - dw $4,000, phich cH TIN due il, H,rnsf
merit and we have not dollar Of accommodation from
any other bank ~
NO 10. Mr. CanJrcicRg-You have cCerre1 to vo,r
notes with Mr. Stewards endorsement having been thrown
fer to- ' '''A' J'u ''-
.H1s.--Thc CITY Bank anil N ,t;o,.I nj