Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-19
POLITICAL.
ora Committee of Directors Of the Bank of the United
Efny,s
REPORT

or Committee of Directors Of The Bank of the United
States.
The Committee 10 whom referred on the 9th of
September, paper signed "Andrew Jackson purporting
to have been read to Cabinet on the lsih, and also
Their paper signed al d. Giipn, John r. Sullivan, Pc.
ter Wager and Hugh McEldcrry," bearing date August
l9h 1888 with instructions to consider the same and
report 10 the Board "whether any, and what steps may
be necessary on the part OF the Board in Of
state
That they have carefully examined these papers, and
will now proceed TO report the result Of their reflections
in regard TO them.
In order, however, 10 render them more Ineligible
VIII be proper TO recall TO the attention Of the Board the
actual relation which the Bank has for past
borne 10 the Executive.
Since the establishment Of the Institution has devoted
anxiousiy and exclusively TO the purposes of its
uon the restoration OF the the OF
the general credit, and the Of the
anu foreign trade OF the country That il has failed
In these Objects that il has indeed realized than the
ancIpations OF the most sangune aes:cd by all parts
OF The community. II in the midst OF this career OF
inoffensve usefulness, when, after the accession OF
power OF the present Executive the purpose was nds
ncy revealed that other duties than hose the country
were requiredand tha' IL the Bank in
administering its affairs, consult the political views of
those who had now Obtained the ascendancy in the Eye
cuuve. Ii is understood that after that event.
meeting was held in Washington Of the principal chiefs.
10 consider the means OF perpeuang their authority
and the possession f the Bank among the most pro.
mnen' objects OF the parties assembled. The first open
manifestation OF this purpose was 10 June, 1922 when
concerted eor, was made by the Executive officers TO in
terere in the election OF the Board of Directors Ports
mouth. AT the head Of this mpt, was Mr.. Levi
Woodbury., now member OF the present Cabinet al
Washington, who did not hesitate in letter TO
'he secretary oil the Treasury, which, though marked
"conhdentia was subsequently, ordered to be published
by the Committee Of Investigation in lS32-iba he ihed
he interference oil the Government 10 remove the Presi
dent oil the Branch al Portsmouth, of whom he saws
"Ihe nep President, jeremiah Mason, is pdrticu-
lar friend Of M Webster, and his political character
IS doubtless ,oe knotcn TO youand he requests So
cretary Of the Treasury "to communicate ,oh some of
The Directors Of the Mother Bank in Jaror of such
change"
This letter of Mr. Woodburv vvas o., o., H. u al,
by the Secretary OF the Treasury, who stated that
some expressions in his letter. ii may be inferred that
oil the Bank, with view 10 political efIect"-n
quence Of which, he deemed il his duty TO present il 10
the Bank, '',cifh the vietcs Of the administration in re.
fdfon TO az" AL the same time time, Mr.. Isaac Hill,
acting as the Comptroller OF the Treasury, until rejected
10y the Senate, and Senator of the United States
sent memorial from the members of his political
party in the Legislature of New Hampshire request.
ing the removal of Mr. Mason. In another com.
muneaion presented to the Bank, he gave it as his
opinion, that no measure short OF Mr.. Mason's re-
mova would tend " to reconcile The pe0pe of .Netp
Hampshire to the Bank that the friends of Genera,
Jackson in New Hampshire have had too much
complain oil the management OF the Branch Portsmouth
Finally tie Secretary Of War ordered the transfer of the
pension fund from the Branch Bank at Portsmouth to no
ther Bank in Concord act obviously violation cs
the laws, that ii first resisted by the Bank and h
reiracted by the Secretary.
1t became then manifest the Bank that there was
combined effort TO render the Institution subsevent 10 no.
litca purposes and that necessary to come 10 some
immediate and distinct understanding of its rights and d
dent oil the Bank with the Secretary of the Treasury of
which the following passages will indicate the general
purport:
"Presuming that we have rightly apprehended vopr
views, and fearful that the silence OF the Bank might be
hereafter misconstrued into acquiescence in them
deem IL my duty TO state you manner perfectly re-
spectu TO your ocia and personal character yet
as to leave no possibility of misconceptions the Board
of Directors the Bank of the u States and the Ro,r
oil Directors oil the Branches OF the Bank of The w. States
| acknowledge not the slightest responsibility of ami
DESCRIPTION tchdsoeper TO The Secretary Of the Treasury
fupfrh he oFI
ing subject on bhich they consult and neuer
desire to know The vie,os Of any Administrations
Again; Accordingly the Act of Congress simply de.
cares, that for the management of the affairs of Tie said
Corporation there shall be twenty five Directors When
these are chosen the whole administration Of the Bank is
committed to their exclusive Their responsibiIifu
for the management Of it is TO Congress and to Con-
gress alone: but Executive Officer of the Gorern
nent, from the President of The United States do,rn
yards has the slightest authority TO interfere in M and
there can De no more toarra for suggesting the vie,os
NE ;4dmnstrdtion of the Bank Of The Unifed
States than to the Supreme Court of the IT, States
Finally: "For the Bank, ,chich has specific duties 10
perform, and ,oheh belongs to the co,trg and not 10
party, there IS bat one course of honor Of safety
Whenever fS duties in conflict toifh The shirt OF
party. should not compromise nth it, nor conifIoi,
10 a. Out resist -resist IL openly and fearlessiy IL,
at last, such is The good sense Of he country mar he
aH." ~
TO the Bank OF those who, finding impossible TO bend
il 10 their purposes, have resolve TO break it, For This
purpose, all the poisoned weapons oil political aare have
Tor the last four years, been unspangly and
employed against the Institution Thus far their efforts
have failed; they have been defeated before and
dscounienanced by the community. But now being re.
lieved from the presence OF Congress- aud The legal guar.
dian oil the public revenue being removed the have
veniurcd oil this last act of violence
10 justify this measure, is the purpose Of the paper
signed Andsew Jackson" or The paper itself and Of
The Individual who has signed il, the Committee find il
dlhcu TO speak with the p!aOuess 10y which alone such
docuinen, from such source should he de scTibed
without woundng their own selt-respect, aud violating
the consideration which all Americas citizens must feel
however their feelings and their language down to hal
respectful tone which is due 10 the Office hey III pro.
coed TO examine the hso of this measure it,
and the pfetexs offered in padon Of it, OF these in
their order:
LIST. IL would appear from lis contents and from other
sources oil information, that the President had meeting
Of what called the Cabinet Wednesday, The 18Th OF
September and there read this paper. Finding that il
made no impression on the majority of persons assembled
ment was put in'o the newspapers 1t was obviously
published Tor two The first was influence tie
members OF The Cabinet by bringing bear upon their
immediate decision the first public impression excited by
nusrcprcscntatons, which !he objects Of them could not
reiue M iine-he second was, 10y the excitement
TO affect the approaching elections in Pennsylvania
ryland and New Jersey The first design is apparent
rom the late which has bealleu these counsc ors-
whist something hoped iom their fears, il exps
deni TO Halter lhem keeping 10 reserve behind these
Establishments, the power punish dsobedience l,y
lc money b TO be deposited in the Bank during tic con
unuapce Of lis Charter, unless the Secretary NJ me
treasury shall otherwise direct" e Unless there forc
the secretary 0 The Treasury first acts Congress have