Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-04-10


the United States, and that there should
be no commitment beyond that inquiry,
il occurred to me that it would be pru.
dent to insert in the instructions TO the
+ agent, paragraph, which ~5lid prevent
misconception, that might otherwise be
produced, uDdesignedly on his part, in
the minds Of the directors of the State
banhs, or Of those ofthe public. lfsuch
misconce eptions should be otherwise guar
ded against, as they may be, ] have no
desire on my own account that tho para
graph (Q) shoul be retained.
D., 81 have already, both in writing and
verbally, had the honor to state to you,
that, after the fullest consideration which
have been able to give the subject,
did not, under existing circumstances,
feel myself justified in substituting State
banks for the Ban> OF the United States,
as the depository Of the public money !;
but that | am ready to make, under y our
direction, the fullest inquiry as to the
propriety Of the change. In the dis
charge Of the high trust confded to me,
1t has been my desire to act according
to my best judgment, with all the lights
before me. And although l do not an
ticipate such change in my views on
the subject, even if the inquiry should
establish the practicability Of employ
ing the State banks, as will lead me to
remove the deposites for any cause not
known to me, before Congress shall
have had an opportunity to act upon the
matter, yet am open to conviction, and
will not fail to give the fullest consider
alton to any new facts which may be
presented, and to any information that
may be obtained in the proposed inquiry.
] shall also be ready to enter into full
examination Of the whole subject, when
you shall, as you propose, bring It before
your Cabinet. But IL, after receiving
the information, and hearing the discus
sions, l shall not consider 1t my duty, as
the responsible agent Of the law, to car
ry into effect the decision that you may
make, | will, from my respect for you
and for myself, PROMPTLY afford you an
opportunity to select successor, whose
views may accord with your own on the
important subject in contemplation.
"BeyOnd this conclusion, respectful
ly conceive l cannot ga without impro-
perly committing myself; a position in
which | understood | was not to be put
before inquiry. Were l now to say,
that l would persist in my present opin-
ion, be the results of inquiry and discus
sion what they may, should evlnce a
recklessness to be rebu ed; on the other
hand, were to pledge myself here after
to abandon my present sentiments, with
out knowing whether any thing may a
rise TO justify the change, l should be-
tray weakness to be ptied, perhaps
desprsed. All that | can promise, there
fore, consistently, with the respect due
to you as well as to myself, is, that when
the moment for decision, after inquiry
and discussion, shall arrive, | will con-
cur with you, or retire.
With the utmost consideration,
Your obedient servant,
II w. j. DUANE"
On the next day, after ! had with the
utmost sincerity given the assurance
contained in the above letter, in the
confidence that full inquiry was medi-
tated by the President, he returned the
instructions to me altered in the very
particulars which had been in my con-
temptation when that assurance was CIV
en-. That is, | had embraced in the
instructions the Presidents plan of State
: bank agency, for on the 9th Of July, he
declared no other would be safe l had
also Incorporated direction TO collect
information as to the effects of a removal
Of the deposites upon the mutual rela-
tions OF the banks, and upon society ;and
in his letter above quoted, the President
admitted that inquiry was to be made IN
to "al matters connected with the sub
stitution of another fiscal agent" In
this state of things, ! assured the Presi-
dent, that, II, alter receiving the lnior-
nation to be obtained by the agent, and
conse quent discussion, could not agree
with him, | would retire. On the re-
ceipt of this assurance. the President
struck out the direction to collect infor-
nation, and inserted new provision,
empowering the agent to propose or ac-
cept new plans.
/ My confidence now began to waver.
] perceived that a full and fair inquiry
into I" all matters connected with the
substitution OF another fiscal agent" was
not meditated. And the question evil
dent,y presented itself, whether, in the
altered circumstances, ] was not absolv-
ed from an obligation to respect the as
surance had gwen. But, | still fiat
tered my self that the President would
be undeceived, and that the time Of the
meeting Of Congress would be So close
ly approximsted, ere suitable inquiry