Delaware State journal, advertiser and star. [volume] (Wilmington, Del.) 1832-1833, 1833-09-27

higher interest than that paid by the
Government, to hold back their claims
for one year, during which the Bank ex-
pccted thus to retain the use Of S5,ooO,-
900 of public money, which the Co.
vernment should set apart for the pay
ment of that debt. The agent made an
arrangement on terms, in part, which,
were in direct violation of the charter oil
the Bank, and when some incidents con-
nected with this secret negotiation ac-
cidcntally came to the knowledge Of the
public'and the Government, then and not
before. so much Of it as was palpably in
violation Oh the charter was disavowed.
A modification of the rest was attempt
ed, with the view Of getting the certificates
without payment Of the money, and thus
|absolving the Government from its liza
|bilty to the holders. In this scheme
the Bank was partially successful, but to
this day the certificates OF a portion Of
these stocks have not been paid, and the
Bank retains the use of this money.
| This effort to thwart the Government
in the payment of the public debt, that
| it might retain the public money to be
used for their private interests, palliated
by prctcnces VIGOROUSLY unfounded and
insinccrc, would have justified the in
slant withdrawal Of the public deposites.
The negotiation itself rendered doubt
rul the ability of the Bank to meet the
demands of the Treasury, and the mis-
lrcprcscnlationsby which it was attempt
cd to be justified, proved that no reli-
Iaucc could be placed upon its aliaSa
ltions.
If question of removal of the depostc>
presented itself to the Executive in the same
attitude that it appeared before the House OF
! Representatives at their last session, their
resolution in relation to the safety of the de-
posites would be entitled to more weight, al
though the decision of the question of reno
val has been confded by law to another de-
partment of the Government. But the ques-
ton now occurs, attended by other crcum-
stances, and new disclosures of the most Sc
rious import. 1t IS true, that in the message
Iof the President, which produced this in
qury and resolution on the part Of the House
Of Representatives, it was his object to obtain
the aid of that body in making a thorough ex-
animation into the conduct and condition of the
4 Bank and its branches, in order to enable the
j Executive Department to decide whether the
public money was longer safe in its hands,
i The limited power of the Secretary over the
subject, disabled him from making the inves
litigation as fully and satisfactorily as it cout
I've done by a committee of the House of Rep
resentativcs, and hence the President desired
the assistance of Congress, to obtain for the
Treasury Department a full knowledge of al
: the facts Which were necessary to guide hi
, Judgment. But it was not his purpose, al
, the language Of his message will show, to ash
Fl the Representatives of the people to assume
, responsibility which did not belong to them
and relieve the Executive branch of the Go
vernment from the duty which the law hat
imposed upon it. 1t is due to the President
that his object in that proceeding should b.
4 distinctly understood, and that he should &C
t quit himself of all suspicion of seeking to es
e cape from the performance of his own duties
or Of desiring to interpose another body be
tween himself and the people, in order to a
void a measure which he is called upon t.
, meet. But although, as ali act of justice t.
; himself, he dsclaims any design of soliciting
a the opinion of the House of Representative
in relation to his own duties, in order to shell
, ter himself from responsibility under tn
| sanction of their counsel, yet he is at all time
: ready to listen to the suggestions of the Rep
resentatives of the people, whether given vo
UNFAIRLY or upon solicitation, and to consde
them with the profound respect to which al
will admit that they are justly entitled
:, Whatever may be the consequences, how
: ever, to himself, he must finally form his owl
: Judgment where the constitution and the Law
Y makes it his duty TO decide, and must ac
) accordingly; and he is bound to suppose tina
q such a course on his part, will never be re
= garded by that elevated body as mark a
Idisrespect to itself; but that they will ON tn
contrary, esteem it the strongest evidence h
can give of his fixed resolution conscientious
ly to discharge his duty to them and the coun
i, try.
: "A new state of things has, however, arise
since the close of the last session of Congress
and evidence has since been laid before til
= President, which he is persuaded would hav
r led the House of Representative to ii differ
ent conclusion, lift had come to their knowl
:, edge. The fact that the Bank controls. an,
/, IN some cases substantially o7vns, and by il
e money SUPPORTS some Of the leading presse
e OF the country, is now more clearly establish
/ ed, Editors to whom it loaned extravagan
sums IN 1881 and 1882, on unusual time am
!, nominal security, have since turned out to b
a inso'vent, and to others apparently in no bet
ter condition, accommodations still more ex
travagant, on terms more unusual, and some
I. times without any security, have also bee
l. heedlessy granted.
L The allegation which has so often circulat
J. ed through these channels that the Treasur
v was bankrupt, and the Bank was sustainl,
i 1t, when, TOR many years there has not bee
less, on an average than six millions of publ
:. money in that Institution, might be passe
i over as a harmless Misrepresentation bu
when it is attempted, by substantial acts,
: impair the credit of the Government and IA,
l. nlsh the honor CT the country, such charge
O require more serious attention. With 81
u millions of public money in its vaults. afte
!. having had the use of from five to lively
a millions for nine years, without interest,
: became the purchaser of bill drawn by gu