Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-05-21
DRAFTS

Ii any thing were wanting TO prove the entire want o
patriotism IN the Managers OF the Bank of the United State
and their Editors, it is found in their exuItation at the re
cent protestof the Treasury Draft for tho payment of the
ilrst instalment OF the French indemnity. The treaty o
indemnity had been formed and ratified by the two go
vernments; it had become the supreme law OF France ant
The United States; the first instalment Of the indemnity
was due; The United States, in pursuance oftheir undoubt.
ga right, drew on the French Government for il, and the
latter suffered the dran TO be protested.
True patriotism would feel regret at the incident; ant
finding that our Government had acted in perfect goo,
isith, II would demand TO know why it was that thu
French Government had refused to pay a debt which
had been acknowledged by solemn treaty, that it nigh
national rights and honor. But what is their real conduct
they hear the news of the protest with delight! The,
almost justify the French Government and seek for pre-,
texts TO censure their own!
|, Inc Courier and Enquirer, now held by trustees for thu
benefit OF the Bank, SC. lately contained the following
article, viz:
"Retributiue Justice.-The President of the u. States
me Secretary OF the Treasury, and the organs of the ad.
ministration impeach the credit OF the U. States Bank.
81 rev short months afterwards, in a foreign land, the
9,alis Q y me Government are protested. The credit Of the
Bank thusimpeacbed by the Government, there steps in
10 save the credit OF the Government from dishonor.
"Thc friends OF the Government labor assiduously TO de.
press the value OF the stock. An event occurs which must
euhance it materially. The Government has to pay the
BANK hileen per cent. damages on the returned protested
Dill oil Nine Hundred Thousand Dollars, thus increasing
by that amount the profits OF the Bank, at its own cost"
The New York Commercial Advertise r recently headed
an article thus:
The administration in another blaze of gIoyy"
The following are extracts from that article, viz:
"Ofthe emptiness Of Louis Phillippe's treasury, howe
yer, or OF his indispoSiiion TO meet his engagements, Mr.
McLano seems not to have been aware; and having lite.
rally 'scraped' the bottom Of The Treasury, as was remark
cd by a member OF Congress at the close OF the session,
ms only means oil partially replenishing IL, was through
the assistance Of the much abused United States Bank
For this purpose the Bank, to accommodate the Secretary,
purchased a draft upon the French Government, Of about
a million oil dollars, being the amount, as we understand,
Of the first instalment, which France was TO pay on the
hrst OF February. The Bank RENTED the bill TO The Ba.
rings, by whom il was sent over to Paris for payment
q The EFpnrh mi aGuoa 10 h.,o. IL l.-G
and the bill was protested The French bankers, howe.
yer, (Hottinguer and company for the honor Of the Bank
oil the United States-not OF the Government, be il under
stood-=cane forward in this emergency, and took up the
bill ="
"The Bank here having advanced the money TO the
Treasury, must of course be reimbursed, 10 refund the
foreign banker, and the Treasury is but poorly prepared
Tor the exigency. Will not the government, as the
drawers, be compelled TO pay the damages to the Bank
accruiDg on the protested bilIi At twenty per cent. here
will be a neat little item OF loss to the Government, and
gain to the Bank of nearly two hundred thousand dollars
The administration is in a blaze Of glory"
With similar articles the Bank papers have been filled
ever since information oil this protest reached the United
States.
II is ridiculous to talk Of 'pbe credit OF the Government
IN tdis affair. Its credit has not been nor could il be ir
the slightest degree affected. IL has had no effect on IN,
public stocks, the only avenue through which its credi
could be reached. Ii does not want 10 borrow money, ant
no man doubts its power TO pay its debts even before they
become due. IL is not in the power of all the Banks ant
bankers in Cbfisendom to impair the credit Of the United
States. IL Is the credit of the French Government only
which can be affected by thus neglectng TO pay a just ant
acknowledged debt.
Iii represented by the Bank papers that the Secretary
OF the Treasury had "scrsped TO the bottom Of the Treasu.
ry,' and sold this draft to the Bank for the purpose O.
raising money to carry on the operations Of the Govern.
ment. Let rs look at facts. The public moneys in the
Bank on the LIST February last, about which time tho Bill
on the French Government was drawn, were as follows
Wit -
Treasurer Deposit, 90 7g5 .555
Deposits of Public Officers, 1922 O6s
Redemption Of Public Debt, 5,I63.O7f
S9,52O, 69s
This is the Treasury which was scraped to The bottom
1t is true, that there ought not to have been so mucl
Puohc money In the Bans But sr the unauthorized inter