Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1834-09-25
u. :. BANK DIVIDENDS


Our readers may recollcct that, some weeks oco
the Washington Globe set up a most dolo, GUS
complaint that the United States Rank had
~"hheiu the dividends on The government stock,
'or 'he purpose OF aprrorratlng them to the pay
mcht OF the damages sustained by that institution
ny the protest of the French bill of exchange rur-
chased by II of the Secretary of the Treasury. We
have wondered that the government wa. con-
tented with this semi-oNciQk annuaciation of the
tact seeing that ii involved circumstances which
avery moderate portion Of cunning mg h, SO per-
vert us To excite no inconsidcrnbie degree of odium
against the monster" Bat VIC forgot thai Gen
Jackson had left Washington for trip to the Her
rnltage, where he still remained at the las,
dates. The Nashville Republican of the 9th
ult. supplies this hiatus in the official history
OF the Bank war, !" the government" we pre-
| sumo, not having immediate access to lis chief
organ having ordered its publication in the
Glote Echo Tor the Tennessee department.
We submit the correspondence to our readers sat
i'hed that the reasons assigned for It's conduct by
the Bank in the brief letter of Mr. BddIc will con-
vince every impartial mind that the Bank ing
denied an act Of Justice, which man would or
couli withhold from another and which the govern
ment itself, If it could reverse positions with the
Bank would not submit to from that institution The
Bank had no other mode left TO maintain its I'M
-but,by refusing TO pay over the public dividends
and thereby compel the Government to do what
the Bank cannot 10 VIII, bring the whole question
before tie legal tribunals for adjudication. With
these remarks, subjoin the Official correspoa-
dencc on the subject.
BASA o. THE UNITED STATES
July s h, 1891.
SiR,-l have had the honor of receiving your lei
ter OF The 81 inst. requesting that the dividend on
the stack the bank owned by the United States
should DC placed to the credit Of the treasurer of
the U. States at the Office of the Lank in Wash
InStoh which was this morning submitted to the
board OF directors. A, the same time was present.
cd copy of your letter to the cashier Of that Office,
dated Tho I'd inst. Containing the final refu al Of
the treasury to allow the claim of the bank for dam
ages on the protested bill upon the French govern
ment
Afer ,e caasi lcralon of TIC contents of these
CON nunicstions am instructed by the board of d.
rccors to inform you, that from the dividend pay
able the l1,h Of this month there will be deducted
The amount due to the bank for damages, costs and
interest upon The bill Of exchange drawn by the
secretary of The treasury ON tho French govern
and tat the remainder shall be- placed to the
credit of the treasurer in The Office at Washington
in conformity to your request.
am further instructed to say, that this is
adopted by the board of directors not merely from
conviction of the obvious justice md propre,y of it,
but because IT furnishes the best, If the only,
mode Of Obtaining jItcial decision of the case by
the proper tribunals To procure tina, decision the
board Ill give every facility in ther powcr-and
there is any other mo lc of submitting the rights
of the respective parties 10 the Judicial tribunals,
oc acceptable 10 you, any suggestion by you for
that purpose will not fail to receive the prompt AID
respectful consider alton of the board OF directors In
the mean tme have the honor to bc very respect
fully yours, y. BlDDLE, Pteat.
Hon Lt,t w ooDsURY,
Secretary of the treasury
Washington.
BANK or THE UNITED STATES
Ill, Och.