Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-07-31
From the Penns yvanian
BANK OF THE UNITED STATES.
Straws show how the wind blows.!!!
Hnla nm MUM. frnr,n ni.nL -. .I....iiII

Straws show how the wind blows!!i
Rats away from sinking ship!!!
On Friday the 18th July, the Presidents Veto of the
Bank bill made known the Board of Directors of the
On Thursday the l7tb July, William M'Ilvainc Esq.
Cashier OF the Bank of the United States, rendered the
Board his resignation. And
On Friday the 20lh of July, Thomas Cadwalader, Esq.
one OF President Biddles avorte directors sailed for Eng
land.
These three very important events have taken place
within the last days. and many and various are the
conlectuTes relative thereto.
noabe and profitable situation, and why done so
in the mouth of every Had he resigned six months
ago. had he arred six months longer appearance
would have been better certainly for the Bank IS
this particular period the leaving Of the institution by an
honorable and capable officer shows that tere are more
things In Heaven and earth, Horato, than dream Of i'm
your philosophy" What is the matter? why is il tIiat al
this particular period, when the services of faithful and
honest officers are required 10 assist i'm CLOSING c affairs of
this institution, with the least possible injury the public
and for the best interests of the stockholders that this va
uable officer has left the institution Perhaps he sees and
knows too much, and not having power the Board
directors holding no proxies and no one OF them being in
debed TO him for support his honest voice is ushed or al
together dsregarded If so, he has behaved Doby and
will meet the countenance and support of every honest
man, whether friend or foe TO the Bank
But, connected with this is another very extraordinary
circumstances Mr. Cadwalader has been sent TO England
How canhe be pared the greatest man in the Board:
the who always President in the absence of
Biddlc and he TO leave the institution this me Won,
deLfi most tcOnder1t! Suudry are ailoaf and
many say that stock having fallen fifteen per cent within
the last two weeks there is much fear il will fall
fifteen cent. within the weeks
be reduced below par Now j am one OF those who follow
the rule wisely laid down. not To Jeeue more Than hdfof
tohGt heGT and therefore do not believe that the stock
will fall within the next two weeks than from seven
and half 10 ten per cenum; but after that not quite
clear in my opinion that United States Bank stock will
he TO- or below par fertile xt MONTHLY
men made TO the Treasury Department. The situation of
the Bank will be bettor known and them language Of Mr.
MDuhe, in his celebrated Minority Report Rep 100
ISL the public will see whether" Lpon the trho then, The
Bank IS not Onyty able to meet all its engdgemenfs
bat is in state Qfe highest ptosperity fhe fact turns
out otherwise, MIR. McDuIie and his minority brethren
have incurred awful and wOelul responsibility TO the
abused and deceived stockholders. have named only MIR
McDuic, because Mr.. Adams made report for himself
and although his name we'll as MIR. Watmoughs is APP
pended TO it, no one will accuse suspect the latter of
having written line, furnished an idea towards
it, The question again occurs why has Mr.. Cadwaader
been sent TO England? Can il be possible that in despite
OF Mr. McDuies positive assertion Of the "Bank being
in state Of the highest prosperity it is absolutely neces-
sary TO send Mr. Cadwaader England make arrange
mens for funds credit 10 sustain the Bank If not for
this for what other purpose can he have been sent
In the absence Of any assigned motive or reason for his
departure the critical state of the Bank places that
count This extraordinary movement the part of the
Bank In two months and eleven days from the
goth july 1892 the United States will pay Off their three
OF dollars On the first OF October next the Bank of the
United States will owe the Government, for deposes up
wards of fourteen millions of dollars.
For the amountOl the three per cent stocks upwards of
twelve millions of dollars, the Bank tie first of Octo-
Der must provides and that amount in despite Of Mr. Nc
Duties assertion OF tie Bdnk being in the highest state
vi fS'',y' "N''S huih I'VE i1diks PAGES VI
in such situation without aid from abroad wOud make
il toer to s very foundation Unless within the next two
months and eleven days the crcuaons reduced at least
ten millions Of dollars, which only he done by the
debtors Of the Bank dischafging that amount Of their
debts, and the Bank not Increasing the amount due by
new loans topay OF this not Than fifteen per
OF the amount OF debts due the bank will have avaa
bic funds 10 pay its notes, and circulation and deposes
Can the Bank, however, do t' it have actually and
bona de paid IN money mot by oans) ten millions Of
dollars OF the debts due IT, and make the item Of bills
ceyable stand at 100000 the 1s October next in
stead Of $6S,OOOOOO, at which il staudsl Every bu
sness man, every at all acquainted with The manner
in which the Bank OF the United States has managed lis
concerns, must be satisfied that it The object of
tic Bank then, in sending England must be either TO
obtain loans or else 70 make arrangement with the TO-
reign holders Of three per cent stock not 10 require e
amount reimbursed 10 be Immediately drawn out of to
Bank bat 10 let The remain for the present. subject
future arrangement; and thus enable again TO approach
Congress and asb for renewal OF he charter The Bank
has been discoundns On government dcpostcs without at