Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-05-06
THE MESSAGE.
wAsHINcroN, March 18th, 1884.

WASHINGTON, March nth. 1884.
| re- nominate Henry ID. Giipin, Peter Wager. and John
u. Sullivan. OF Philadelphia, aud Hugh McEidery. of
Baltimore to be Directors in the Bank OF the United Siste.,
1 dlselaim all pretension Of right. on the part Of the
president, officially 10 inquire into. or call la question, the
reasons vi the Seuste for reec ing any nomination what.
soever. As the President - not responsible TO them for
Tie reasons whic, induce him to make a nomination. a
,ney are no, responsible to him Tor the reasons which in.
uuee ueni 10 ' Ject H.. In these respects, each is indie.
pendcnt oil the other. aud both responsible to their rrsp~c.
i've constituents. Nevertheless. the altitude in which
err'ai" vital interests OF the country are placed by the re.
lection OF the gentlemen now re .noinina, ed, re quirc OF me
irankiy to communicate my views of the consro.snecs
wh,eh must NECESSARILY follow this act OF tho Senate, II il
be hot re.consilered.
The characters and standing Of these gentlemen are well
SHOWN to the community, aud eminenly qualify them for
!. ouiees to which l propose to rppoini them. Their
continuation by the Senate, at lis last session, 10 the same
oihres, Is proof that such wa. the opinion of them enter.
s"nea 10y me Senate at 'ha, time; and unlees something.
nasoSeu'sea since 10 change II, this act may now be re.
fled heir selection.
The refusal, how ever, to confirm their nomination, 70
the same Offices shows hat there is somethinr i'm the ron.
duct oil these geDtlem,en, during the last wear which
III NC opinion oil the Senate, disqualiies them; and AS
no charge has been made against them as men OF ci,izeos
.nothing which i~npeaches the lair private character ,h.v
possessed When the Senate gave them their sanction at
Its last session; and az II moreover appears from the iour.
nal oi the Senate, recently transmitted ior my inspection.
tha,a was deemed unnet essary to inquire iuio their quail.
neauons or character, II Is to be inferred that The change
IN the oPlhion OF the Senate has arisen ioin the oticis,
conduct Of these gentlemen. The only circ umstancrs in
'neir oihelai conduct, which have been deemed OF sufi.
cient Importance TO attract public attention. are the ,wo
reports made by them to the Executive Department of the
Government; The Que bearing date the 22J day OF AuriI.
NV "a o'her tue i9h day OF A August lss;; both oil Which
reports were communicated to the Senate by the Secre,a.
ry OF the Treasury, with his reasons for removing the die.
posiies.
presume, questioned by any one. The high character and
standing OF the citizens by whom they were made pre-.
men,s have not bcen denied by The Y. esident Of The Rant Rant
aid the other Directors. On tho contrary. thew hay, in.
sisted mat they were authorized 10 use the money of the
o""x IN The manner stated in the two reports, aud have
not denied that the charges there made against the co,.
pofd'ion ate substantially true. IL must be taken. there.
fore, al admitted, that the statements Of The public Dire.
to's, III me reportsaoove mentioned, are correct: and They
d'sclo'e the most alarming abuses, on The part Of IN. cor.
fo,a"on' and The most ct enucus excrlions, on their part, 10
put an emu 10 them. They prove that enormous sum,
were secretly iavished, in 4 manner, and for purposes tina,
cannot he justified and that the whole OF the im,nepsc
capraI Of me b'nk has been virtually placed at the J.po.
sal OF a single individual, to be used, il he think, proner
10 corrupt the press, and TO control the proc eeiinys of The
government, by exercising an undue influence over cleo.
tons.
The reports were made in obedience to INV oGici,, IL.
rec,ion-; and | herewith transmit copies OF my letters
GAZING Tor Information OF the proceeding. OF The Bank.
Were they hound 10 disregard The call? Was il their din.
~ TO rsmain silent, while abuses OF the most iniu,ions
ana dangerous character were daily praciisrd! We're
they hound TO conceal from the constituted authorities .
cour'eo' measures destructive 10 the best interests of the
country, and intended gradually aud secretly 10 subver,
.ne foundations OF our Government, aud to transfer its
powers rom The hands OF the people TO a great moneyeJ
corporations! Was il their duty 10 sit in silence at The
Board, and witness all these abuses, without, an a,temn,
to correct them; or, in case OF failure there. no, IN annea,
TO high authority? The eighth tundanen,a, rni. Lii
fIes any one OF the Directors, whether electe or appoint.
CD, VINO may have been absent when an excess of debt
was created, or who may have dissented from The act. 10
exonerate himself from personal responsibility BY giving
noiice oil the fact to the President of the United States:
mus recognising the propreiy of commune a,ipe TO Thai
ohieer Tue proceedings OF the Board in such cases. But.
Independently OF any argument to be derived from ,e
Pr'"eiPie recognised III The rule referred TO, canno, doubt
Tor a moineRt tia. it is the right aud The duty of eycrv M.
rec,er at the Board TO attempt 10 correct all illegal n,o.
cecdings, and, in case OF failure, TO disclose them; and that
every one OF them, whether elected by the S,ockholIers
or appointed by the Government, who had knowledge of
'ne facts ana concealed them, would be justly amcnable 10
the seyeresi censure.
cuiiar and official duty 10 make the disclosures: and the
call upon them for Information could no, have been disre-
garded without a hdgrsnt breach OF their trust. The Di.
tectors appointed by the United States cannot be regarded
III me hight OF The ordinary Directors OF a Bank appointed
py me sosxnolaers. AID charged with the care OF their
Pecuh'afy interests In the corpor alton. Jhey have bipLer
and more important, duties. hey are public others
ihey are paced a! the Board not merely TO represent the
SOCK held by The United States, but 10 observe The con-
duct oil the corporation, and TO watch over the rubIic int,
es's: twas ioreseen that this great moneyed monopoIv
mgn, oe $ managed as to endaDger the int esis Of the
country, and IL was therefore dee med necessary. a 9 a mes.
sure oil precaution, 10 place at the Board wa,chiuI sen,i.
neis, who 'hould observe IFS conduct, and stand r adv ,o
report 10 the proper officers OF the Government eyerv ac,
OF the Board which might affect itjuIiousIy the interests
OF the People.
The whole frame of the charter as well as the manner
OF 'her appointment, proves this 10 be their true chsrsc.
ter. The United States are not represented a, the BOARD
ny nese Direc'ots, merely on account OF the stock held
by The Government. The right Of the United States to
appoint Directors, and The number appointed. do mot de.
pend upon The amount OF the stock; Tor, if every sI,,r.
should he sold, and the United States cease 10 be a stock.
ho'der altogether, yet, under The charter, The. right 10 an.
point I'VE directors would still remain. I'm snrI, a casc
"hat would be the character OF the direciors1 Thew
woum represent no stock aud be chosen by no stock.
holder. Yet they would h We a right TO sit at the bo.r,i
to vote on all questions submitted TO IT,; and TO be'maJe
acquainted with all The proceedings of the Corporation.
Ihey would not, in such a case, be ordinary dir.c,ors
CHOSEN by Tie stockholders in proportion 10 heir siock
but ihey would be public officers appointed 10 guard The
puDic interest; and their duties must conform To ,hcir NJ
nee. Ihey are not the duties of an ordinary director clio.
sen 10y a s,ocHhoiuer; but they are the peculiar duties of
10 me utmost OF his lawful means, the pubIic ;n,a,a,,s,
a"'' "here own authority is not sufficient IN ,rsva,,
INJURY, 10 INFORM those TO whom the law has con6f,a, Wv
necessary power. Such, then, is the character, and surh
Se 'e uules d. inc directors appointed by The United
states, whether the public be siocktolder RS or moi. Tbev
are officers OF the United States, and not the mere ,enrc.
scntstives Of a stakeholder.
ihe node oil their appointment, and their tenure of
otice, confirm this position. They are sppoin,ed Ill.
oher oncer' OF The government, and by The same auiho.
my. lhey do not hold their OH ces irrevocabIy a YEA,
ALTER their appointment; on the contrary. bv the exn,a..
terms OF the law, they are liable TO be removed Iron,
once at any time ny the President, when in hi, iudpmen,
me pubic interest shall require it,. In every respec,
therefore, III which the subject can be considered 4, ia
evident That Tie hive directors, appointed by the United
o,des are 10 be regarded as public officers; who are
placed there in order 10 observe the conduct of the
poraiion, aud TO prevent abuses which niyh other wise be
committed.
ouch being The character Of the Directors appojn,ed n n
oebaii OF the United States, IL is obviously their dulv IN
Iees'' u 10 case OF failure, to report TO the President. or
y ~ secretary o, The Treasury, any proceedings Of iIe
Board by which the public interest NAV he inin,io,siv
affected. In Prp AZ r.y "A.