The Arkansas advocate., 1833-04-10
REPORT ON THE UNITED STATES
 BANK.
fRIDAr, MARCH I.
After some minor busiiness-~

sites soiiie fnitlor business
 MT. sEhpLANK, under instruction rom tue eomnsiitec of Ways and Meanss made the following Renort.
 The Committee Of V s.a ,a Ma. report: That, among the subjects re- ferred to the Committee of Ways md Means. at an carly period of the session. where the transactions of the bs..k of the United States, in relation to tl.e aaa2i aa2Pq6ieet Pqiee iHiffhs iHiffh ffo f1ek 1k piesehf is petd. niary and financial state and manage ment of the institution.
 The arrangement made by the Bank for temporary postponement, with the consent Of the holders, of the payment of five millions of the three per eent. debt, being now substantially clohed by , the surrender to the Government ef lie certificates of stock, except for q sniali amount, aud the whole debt itself hav- ing been liquidated, so far IFS respects the Government, al all callier perlod than if IS probable il would otherwise have been, this question seems DO len- ger to present any important or plas ti- cal object Of inquiry, oi io call for or admit any action ol Congress upon 1t. ] The committee have examined seve- raj oi the directors on fIns snLjecf, as well as upon other points connected
 with the management of the institution. Their testimony is herewith si,hns.tttd, and tie committee specially refer 10 Inc Eevldence of h1r. Bcyan and Mr. Eyre as explanatory of the history and mo- lives of this transaction.
 IL is due, however, to the Govern- ment 10 express the opinion. thai, in the arrangement made by tlae Hank ageit in England for the purchase Of the three per cent. stock, and he detention of the certificates, (which measures were af terw:rds disclaimed by the Bank,) the Bank exceeded ifs legitimate authority, and that this proceeding had 10 s'ftii-- cient warrant ip the correspondence of ae & esat.,..y of tho Treasury.
 The inquiry mio the present ev,df- ton of the bank, the general character of it's business, and the snundncss ot ifs capital, is subject of much greater in- terest and importance, sisec it involves not only the question of the salets, ef the public dcposites, but the yaJoe of 1 tic large amount Of stock held by Go- vernment, and the still more momentous considerations of the soundness of a large portion of our currency, and shs: consequent security or insecurity oi the domestic exchanges and commerce of | the country.
 The President, in his message 10 Congress, at tine opening of the present. session, informed them, sstilais such measures as we're within the reach of the Secretary of the Treasury had been taken to enable him 10 judge whether the public deposites in the Bank of the
 United States were entirely safe; but, as his limited power might prove insuf- icient to that object" the President res commended the subject to Cohgress,as particularly worthy of their lnyestiga- 4 tion- I Since that period, the report of the
 agent appointed by Government for this examination, has been communieated:o Il Congress, and referred to this commit-
 ice. The Committee of Ways and
 Means hare also rscsised from ti.e di-
 rectofs of the bank arcport on the prin- cipal point of its administration and its present state, prepared by the Ex- change Committee of the Bank, and adopted by the Board of Directors. l The importance of the statements and results, contained in that report, ,in- E duced the Committee of Ways and ,l Means, in the course of the examina~ : ton of the directors composing the E.x- !, change Committee. to require their att Il testation, under oath. to the facts and !, statements of that paper, as distingnisfs1