Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-12-13
POLITICAL.
WASHINGTON CoRREsPoN DENCE.

WARRINGTON, Dec. 2, 1892
Dear Sir-Sincc the general meeting of the Board oC
Directors of the U. s. Bank which was recently held Al
Phadelpia have casually learned some particulars in
relation to the management of ADMINISTRATION, which ought
10 be known to the country.
You will rcccect, that it the purpose Of tho gov
eminent to pay of portion Of the public on the first
July Ias but upon Tho allegation Of President Bddlc that
In order to meet the payment the Bank could be obliged
to refuse accommodation the merchants of your c,
who were indebted for duties which they would
wise he able TO pay, the Government deferred the nav
payment until Tie first of October Mr.. Bidde declared
before the Committee OF Investigation that the Bank ask
ed no indulgence, and wanted time hut that IL wa,
the merchants and the government who interested
in the delay.
WE'LL the government, advertised their intention n, MAJ,
oil about eleven millions, think, of the three per cent
stocks mostly held in England the LIST day of October
last and gave notice that the interest would cease after
that day Soon after this notice given General Cad
waader, one oil the principal dreco the Bank and
the confdant of President Bddle sailed for England The
attention oil the whole country was excited and curiosity
was on tpoe to know the specific object of this mission
AT length circular of the Earrings reached th, coun
try addressed TO the holders in England of our three
cents assuring them, the faith OF the Bank of the Uni
ted States that the interest would continue 10 be Maid in
case they did not choose TO forward TO demand the
principal. This gave an indication of CaJw aader'. Oh
lec III his hasy mission The Bank knew could no, nav
The debt the first of October and mission was sent 10
England to prevent its being called upon as TO enable il
10 use the moneys oil the government while longer and
preserve itself from destruction This was the infrenc.
which every man, who understood the condition of the
Bank drew from the circular of the Barings They be-
heVed 10 be an arrogant inerposion by the Bank mana
gers in the aairs of The government for the purpose of
preventing the payment of the public debt that they might
retain the use Of many millions of government MONEY IN
save them from insolvency and ruin.
Through one OF the foreign directors of the Bank now
learn, that General Cadwalader did make an arrange
men' through the Earrings, with the foreign holders of the
three per cents by agreeing 10 pay thcm for one wear
four and half per cent interest, and commission TO the
Earrings OF halt per cent making five per cent! On
mese terms they consented not to toward for pay
ment until October 1888 r''
This arrangement, made without consulting the Co
vernnent, perfect outrage The Government owed
money 1t placed funds in the hands Of the Bank TO nav
1t the Bank, without its knowledge and contrary TO ii
will secretly negociaes with its creditor. and induce.
them not to forward thus the object of the govern
nent which IS to pay off the debt is defeated the Bank
retains the moneys and the government is still held re-
sponsble to ITS credors Does not the agent here AFRO.
gate TO himself the power tbwart the known object aud
will OF the principal Would private citizen sfter do
ecung an agent in such trick, trust him any longer
III you were 10 put into the hands OF friend agent one
thousand dollars TO pay debt and he were secretly to
persuade your creditor to hold up your note that he might
use your money, promising in the mean time 10 nav the
Would you like thus, without your know TO he held
as his security while he should speculate your money
Would II be strictly hOnesR Would you not on detect.
ing your agent instantly demand your money from him
and dismiss him from your service?
But u - rumored here that since the rcsult of the Pre-
Sidenhd election DdS bnotcn, The Bank has dsapotced
the act ot s missionary, and seeks throw on him
NE whole res on';biiy o this outrage verify believe
That rumour tells the truth Tor once DO not nisunder-
stand me. have the slightest susrcicn that Con
Cadwaader did in tact gioire bis instructions. be.
heye .'o uh The r@y hing, for which he sent
expected believe, Ia II the Bank had succeeded in
defeating the reelection Of General Jackson his acts
tcotid neueT haze been diSdUOtced.
The Bark would have relied with confidence on lie At
ornie in the txecuiiye and in Congress TO sustain in
this proigae attempt 10 postpone, TO the period Of s wn
pleasure, the payment Of tie public debt But when tie
Bank managers found hat General Jsckson was elect
ed, and that hey should he called strict account thew
had no alternative but 10 dsau0o their o,on dct and
thus attempt 10 escape or the consequences OF their
u8urpaiion and abuse nj power.
What did Gen. Cadwallader go 10 England for II he
was not authorised 10 make the arrangements what pds
his authority? oUli he have had any other object IN
to deer The payment OF tho public debt, and wsr the
wishes Of the government he country will not be sa-
hsiied with being told that Gen. G. ranscended his in.
strucons the tale will he believed unless he in
srucious which he actually had, he Produced
This affair must necessarily be brought before CONGRESS
In reporting the condition Of the finances the Secretary
Of the Treasury will be obliged TO show why the large
IN the treasury has moi been applied the payment
Of the public debt promised, and NJ tire public
had a right TO expect IN this exposition, il i pre-.
sumed that the whole transactions far II known to
the government will be laid before the country. will
take the earliest opportunity to apprze you 40 what
sPect II in any, The circumsaDeel differ rom s
which have given you.
10 s said that ue allowance 10 Gen Cadggallader for
HE mission 10 England j. 5000 dollars together with the
expenses Of himself, his son, aud his servant which may
amount to 5000 dollars II his acts be disayoyyed
shall be very anxious 10 know whether the Bank will oay
him or bis services shall also have some curiosity to