Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-03-27

Z form the agency proposed TO thCm, you will not
feel yourself al liberty TO carry into effect. the
decision, transferring the public deposites 20
them, which the President, on advisrment with
his cabinet, may make. Please inform me
whether / am correct in supposing tina, this is
1 your determination. II am, IA will then be my
! duty in irankness and caador 20 suggest the
course which will be necessary on my part.
i am very respectfully,
Your obsdient servant,
ANDREW JACKSON"
! consider this palpable violation Of the Pre-.
sidents assurance, gwen 10 me in his letter Of
the Goth Of June, from Boston, that cit was not
his lnteation 10 interfere with the independent
exercise Of the discretion committed 10 the Se-
I cretary of the Treasury, by law. over the sub.
| ject'' of the drpositcs; and was first inclined
! pe-emptorily TO adhere TO the last paragraph
/ tQ) Of the instructions.-it occurred 20 me, how
ever, that the President still admitted 10 his let
ter, that, "all matters connected with the substi
tuition Of another fiscal agent for the United
States Bank, were TO be Gully considered"
] knew thar the Instructions Gan alteration of
which was then unknown 10 me) contemplated
the Presidents bank plan alone, the practicabili-
~ Of which doubted also knew tina, the in
structions contemplated the collection of inlor-
nation, to the effect Of a removal of the de-
positcs upon the mutual relations Of hanks, nnd
upon society, which If faithfully collected would,
] believcd, disabese the Presidents mind. And
] could not with propricty say that would not
al future period act. because il might become
my duty TO do so. Under these impressions,
forthwith wrote the following reply;
THE SECRETARY OF TIE Treasury TO THE
President U ).
"Ireas'ay Department, Juiy %, 1883.
"Sir In answer TO the letter which have
had the honor TO receive from you, this after
noon, ! beg leave TO state that, having under
stood your present object 10 be merely inqii-
ny into the practieahlity Of the arrangement,
which you desire to make with the State banks,
in ease it should be deemed proper to employ
them substitutes for the Bank OF the United
States, and that there should be no commitment
beyond that inquiry, il occurred to me that il il
would be prudent 20 insert in the instructions 10
the agent, a paragraph, which would prevent
misconception, thai might otherwise b. produced,
undesigne dly On his part, in the minds Of the
directors of the State banks, or of those Of the
public. II such misconceptions should be other
wise guarded against, they may be, have no
desire on my own account that the paragraph,
(e) should be retained.
81 have already, both in writing and verbally,
had the honor TO state TO you, that, after the ful-
lest consideration which have been able TO give
the subject, ! do not, under existing circum-
stances, feel myself justified in substituting
State banks for the Bank Of the United States,
as the depository Of the public money; but that
am ready to nahe, under your direction, the
fullest inquiry asso the propricty Of the change.
la the discharge ef the high trust confded 10 me,
it has been my desire 10 act according TO my best
judgment, with all tie lights before me. And
although do not anticipate such change in my
views on the subject, even If the inquiry should
establish the practicability Of employing the
state banks, as Will lead me TO remove the de-
postes for any cause now known to me, before
Congress shall hass bad an opportunity to act
upon the mntgzr vet = afsf open 10 conviction,
and viii not fail Ia give the fullest consideration
TO any new facts which may be presented and to
any information that may be obtained in the pro-
cd I ca oil bc IN into
into a full examination Of the whole subject, when
yen shall, as You propose, bring il before your
cabinet But, il, after receiving the information,
and caring the discussions, ] shall not consider
it my duty, as the responsible agent OF the law,
TO carry into effect the decision that you make,
will, from my respect for you and myself,
promptly afford you an opportunity TO select a
successor, whose views may accord with your
own on the important subject in contemplation.
beyond this conclusion | respectfully con-
ceive cannot go without improperly committing
myself; position in which | understood was
not 10 be put before inquiry. Were ] now TO
say, that would persist in my present opinions,
be the results of inquiry and discussion what
they may, l should eyince recklessness 10 be
rebulIed; on the other hand, were TO pledge
myself herafter TO abandon my present senti-
ments, without knowing whether any thing may
arise 10 justify the change, ] should bctray
weakness TO be pitied, perhaps despised! All
that can promise, therefore, consistently with
the respect due TO yon as well as myself Is, that,
when the moment for decision, after inquiry and
discussion, shall arrive, ! will concur with you,
or retire.
With the utmost consideration,
Your ob't serv't,
w. ]. DUANE
On the next day, after had with the Utmost
sincerity given the assurance contained in the a.
boye letter, in the confidence that full inquiry
was Hc1itated by the President, he returned
ha ola he rtI
culars 81, aich had been in my contemplation when
| that assurance was given This is, had em-
braced IN the instructions the Presidents plan OF
| the state bank agency, for on the 18th oil. July
| he declared other would be safe; | had also
incorporated direction 10 collect information as
10 the effects of a removal Of the deposites upon
the mutual relations OF the banks, and upon soeic-
ty; aud 10 has letter above quoted, the President,
admitted that inquiry was to be made into, all
! matters cshnected with the substitution Of an
| other fiscal agent" In this state OF things, l
assured the President, that il after receiving the
information, to be obtained by the agent, and cen
! seauent discussion, could not agree with him, |
! would retire. On the receipt OF this assurance,
the President struck out the direction to collect
information, and inserted a new provision, en-
powering the agent 10 propose or accept new
plans.
ce:ved that full and fair inquiry into call mat
| tiers connected with the substitution Of another
| fiscal agent" was not meditatcd. And the ques-
tion inevitably presented itself, whether, in the
altered circumstances, was not absolyed from an
! obligation TO respect the assurance had gwen.
Rn, sill flattcrcd myself that the President
would be undeceired, and that the time of the
meeting Of Congress would be so closely approx
MATED ere a suitable inquiry could be made, as
10 render any action by the President altogether
indicate and improper. j, therefore, prepared
the instructions as altered; not with a view 10
retain a most which had no longer any attractions
for me. not 10 thwartthe President in his legiii-
mate course. not to mar salu'ary measure, but
| n nrevent the execution Of scheme which be-
! lieved would be detrimental to the country and
the President himself.
| fhese:- =.
| Instead of paragraph (e,) according to which
Ibad made the President, as supposed he was,
an opponent Of any National Bank, he introduced
the following