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

be entitled TO m0fe wetSnts dsthouxh VIC uosse'""
of the question of removal has been conhded ny
law to another department Of the Government.
Bot the question now occurs, attended oy o'hef
circumstances and new disclosures Of the most
serious import. 1t is true that 10 the message OF
the President. which produced this inquiry anu
resolution on the part Of the Hsuse oil RePreseh
tatIves il hts object to obtain the ao oi lnas
BODY in making Through examination INTO ne
conduct ana, condition OF the Bank and Its branch
es in order to enable the Executive Department
to decide whether the public money was longer
safe IN its hands. The limited POKER OF the 81.
cretary OF the Treasury over the subject dsao' ed
him from making the investigation as iuiiy and
satisiac 'oriIy as it could be done by committee
Ut ,he House oe Representa-, es. and hence the
President desired the assistance of Congress 10
obtain for the Treasury Department a full know
Ienge IF all the facts which were necessary to
guide his Judgment. But it was not his purpose,
AZ the language of his message will shew, 10 ask
the Representatives Of the people to assume a re.
sponsiblity which did not belong to them, and
relieve the Executive branch Of the Government,
from the duty which the law had imposed upon
it Ii 10 due to the President that his object in
that proc eeding should be distinctly understood,
and that he should acqut himself Of all suspicion
own dunes, or of desiring to interpose another
body between himself and the people in order to
avoid a measure which he is called upon to meet.
But although, as an act Of justice to himself. he
dlsclalns any design Of soliciting the opinion OF
the House of Representatives IN relation to his
own duties, IN order to shelter himself from re-
sDunsiblty under the sanction Of their counsel,
vet he is at all times ready to listen to the sug-
eestions of the Representatives OF the people,
whether gwen voluntarily or upon solicitation,
and TO consider them with the profound respect
to which all will admit that the, ate Justly emit
tied. Whatever NAV be the consequences. how
ever, to himself he must finally form his own
Judgment where the constitution and the law
makes il his duty to decide, aud must act &c.
curdlnSly; and he is bpund to suppose that such
a course on his part will never be regarded Dy
that elevated body as a mark Of dlsre.pect TO IT.
self: but that the~ will, on the contrary, esteem
it the strongest evidence ne can give OF hi, liked
resolution cOnscientlously to discharge his duty
to them and the county
| A new state of things has, however. arisen
since the clase of the last session of Congress,
and evidence has since been aid before the Pre-
sdent, which he is persuaded would have led the
House of Representatives 10 different conciu.
sion. If it had come to their Knowledge. The
fact that the Bank controls, and 10 some cases
substantially Gums, aud BY its money supports
some of the leading presses Of the country. is
now more clearly established. Editors to whom
| it loaned ext-avagant SUNS IN 1881 aud 1892,
on unusual time and nominal security. have since
turned out to be insOlvent, and to others. appa
rentIy IN no better condition, accommodations
8 il more exravagant, on terms more unusual
and sometimes with ut any security, have also
been heedle,sly granted.
The allegation which has 80 often circulated
through these channels that the Treasury was
bankrupt and the Bank was sustaining il, when
for many years there has not been less, on an
average. than six millions Of public money IN
that institalion, might be passed over as a HARM
less misrepresentation; bat when II Is attempted,
by substantial acts, to impair the credit OF the
Gov ernmrnt and tarnish the honor OF the coun-
try, such CHARGES require more serious attention.
With SIX millions OF pubic money IN It's vaults,
after having had the use Of from hive To twelve
millions for nine years, without interest, u be-
came the purchaser of u bill drawn by our Go
yernment on that Of France tor about 900, 900
dollars. being The first insta ment of the French
indemnity. The purchase money was left N the
use Of the Bank, being simply added to the Urea.
surv dsposite. The Bank sold the bill in Eng.
land. and the holder sent 1t to France for collec-
ton. and arrangements not having been made by
the F,ench Government for its payment it was
taken up b, the agents of the Bank in Paris with
the funds Of the Bank in their hands. Under
these circumstances il has, through its organs,
openly assal!ed the credit of the Government;
and has actually made, and pet.ists IN d, mand
of fifteen per cent or SI5s, 842 II as damages,
when no damage. or none beyond some tr'fllng
expense has IN tact been sustained. and when
the Bank had IN It's own possession on deposite,
several millions of the pubic money which II was
then using for its own profit. Is fiscal agen,
! to the Government, which thus seeks to enrich
itself at the expense Of the pubic worthy Of tor
Their trust?
There are other and important facts not in the
contemplation of the House Of Representatives.
or not known to the members at the time they
voted for the resolution.
F! Although the charter and the rules Of the Baak
both declare that not less than seven directors
shall be necessary to the transaction Of usiness,
! vet The must important business, even that oil