Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1833-09-24

pers, Calculated Dy their contents 10 on,,,,
aud secure renew al Of lis chat,
II appears from the Official report o, N, p,.r-
Directors, that. on the 30to November. 1870 ~"
President submitted TO the Board an article nnS
l,,h.d 10 the American Quarterly Review r. O
tanning favorable notices Of the Bank, and ~"
ges,ed The exp diency Vi giving il a wider c,,.s
iation at tue expense al the Bank; ubsrsna'"
the Board passed the following resolution ,,1.
g. Rcsolred That the President be au,horizsd,o
such .asgres in regard the circulation OF The
tents OF The said article either in whole or in n 'a'
he may deem most Tor the interest Of the Bank :"
By an entry in the minutes Of the Bank, dated
March Ilth, 1881. it appears that the p,es;I.0
had not only caused la'ge edition to be n.usd
but had also, before the resolution of SUb Na
,ember was adopted, procured to be printed and
widely circulated, numerous copies Of the Rs
ports Of General Smith and Mr.. McDuffie in f.
vor Of the Bank, and on that day he suggested
the exPediency Of extending his power 70 IN.
printing Of other articles which might sub.s,.
the purposes Of the institution Whereupup ,bs
following resolution was adopted, viz:
Resored, That the President is hereby su,So,,. -,
to cause To be prepared and c,rcula ed such doenn'
and pauers IS may communicate to the peons a.
nation in regard to the nature and operation, Of n.
Bank"
The expenditures purporting to have be-,
made under authority Of these resolutions. DIR.
Ing the years 1881 and 1882. were abnut Sso.
600. For a portion of these expenditures you,b.
ers we're rendered. from which u apppas that
they were incurred ~ the purchase oi some huu.
dred thousand copies OF newspapers. report, and
speeches. made in Congress. reviews Of The VITA
Message and revirw- of speeches against n.
Bank, &c. &c. For another large portion M
vouchers whatever were rendered, tut the ,ar.
Gus sums were paid on orders oi the Pre,ldenrd
the Bank. making reference to the resolution Of
the | lth March. 1881.
On ascertainlng these facts. and pprcei,ins rka,
expenditures OF a similar character were .nl
continued, the Government Directors. a lev
week. ago. offered a resolution 10 the Bard. cal.
ling for spec life account of these expenditures.
showing the objects to which they had BEEN 3D.
piled, and the persons TO whom the money had
been paid. This reasonable proposition was ,a.
ed down
They also offered a resolution. resembling h:
1881. This also was rejected
Not content with thus refusing TO recall he
obnoxious power. or even 10 require such an az.
count oi the expenditure a. would shew whe,hs
the money OF the Bank had. IN fact, been applied
to the objects contemplated by those resolutions
as obnoxious a. they were, the Board renewed
the power already conferred. and even eujnnd
renewed attention to IT'S exercise, by adOptnslh
following. IN lieu OF tine propositions submIts!
by the Government Directors, viz:
Resoired That the Bosri have confidence in ID.
wisdom and integrity of thu President and IN 'htn
priety OF the resolutions of 30h November, 1850 I'D
iIth March. 1881, and entertain full CONVICTION Of Ii.
necessity Of a renewed attention to the obi, e as
resolutions sno tn Al the President be author led II,
requested to continue his exertions for the PROMOTE
of said object"
Taken In connection with the nature Of ts
expenditures heretofore made. as recently ts
closed. which the Board not only tolerate buif
prove, this resolution puts the funds Of the DaIi
at the disposition Of the President, Tor the Ps'
pose Of employing the whole press Of the eoufY
in the service Of the Bank, 10 hire writers !.
newspapers, and TO pay out such sums as hePa
ses. 70 what persons and for what service
pleases. without the responsibility OF reod'nt!
any specific account The Bank is thus rt
verted into a vast eleclioneeriDg engine, VII
means to embroil the country 10 deadly leaGs
and, under cover Of expenditures. IN thems'"
improper. extend its corruption through aI u
ramif atIu' OF society.
Some Of the items for which accounts have
rendered, shea the construction winch has BID
given to the resolutions. and the way IN ""'
the power it confers has been exerlrd. lbs@
ney has not been expended merely IN The P"
cation and distribution Of speeches. rePf'
committees, or articles written for the pups
of showing the constitutionalIty or uselurss'a
the Bank. But pubIics'i,ns have been Pr'ph"
and extensively circulated, conta'nIn! 'hr g,'
est invectives against the officers OF the Go'ar
ment: and the money which belongs to 'h''%.
holders and to the public has been ireq'sn!
applied in efforts to degrade, in pubic s''av
ton, those who were supposed to be In'tfu"e ~,
in resisting the wishes Of this grasp'ng ano W.
gerous institution As the President Of the d..
has been required to settle his accounts 10 os~ -.
himself vet knows how much more than i've
already mentioned may have been sq'aOOn,
and for which credit may hereafter Or e''%
in his account under this most extraor''n'!
solution. With these facts before US. eau Wv
surprised at The torrent Of abuse Ince.saou.. y"
ed out against all who are supposed 10 s's'.