Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-05-27

their committees or officers, and whether the
Bank had any agency, through Its management
or money, in producing the present pressure, or
has used its corporate power or money to con-
troll the press to interfere in politics, or inf1u-
ence elections
Without giving specific answer to these
calls for books and papers, the committee ofDi-
rectors presented written communication,
which was said to be I" indicative Of the mode
of proceeding deemed right by the Bank"
The committee of the Board in that commu-
nication, express the opinion that the inquiry
can only be rightfully extended to alleged VIC
lations of the Charter and deny virtually the
right of the House of Representatives to au-
thorze the inquiries required in the resolutloh.
They also required of the Commute OF lnves-
tigation, "when they asked for books and pa
pers to state specifically in writing the purpo-
ses for which they are proposed to be inspect
ed; and if it be to establish violation of the
charter then to state specifically in writing, what
are the alleged or supposed violations of char
er. to which the evidence is alleged to be appll-
CABLE.
To this extraordinary requirement. made on
the supposition that your committee were charg-
ed with the duty of elimination, or prosecution
for criminal offence, and implying anght on
the part of the Directors to determine Tor
what purpose the inspeCtion should be made, and
what books or papers should be submitted to IN
specton, your committee replied, that they were
not charged with the duty OF eliminating the
Bank, its Directors, or others but simply TO IN
quire, amongst other things, whether any pro-
secution in legal form, should be Instituted, and
from the nature of their duties, and the instruc-
tons of the House Of Representatives, they were
not bound to state specifically in writing any
charges against the Bank, or any special pur-
pose for which they required the production of
the books and papers for inspection
A specific answer was requested to the calls
which had been made.
The Committee of the Board, after delibera-
ton, made communication to your committee.
in writing, in which they announced their pur-
pose to adhere to their resolution, and refused to
submit the books and papers OF the Bank, re-
ouired by your committee to be produced Tor
their inspection.
These calls were made in the Bank, and in
the presence of the Committee of the Board,
and then and there compliance with them was
refused Not feeling authorized 10 regard this
unexpected and unequivocal refusal as the act
of the Board Of Directors, your committee sub
mitted the proceedings Of their committee to
the Board, and they were by the Board fully
approved and sanctioned"
In this act of refusal, which nothing that had
occurred had prepared themt TO anticipate, your
committee are of opinion, that the charter OF
the Bank was violated, and contempt OF the
authority of the House of Representatives COM
mitted.
Your committee, acting under the instruc
tons of the House of Representatives. without
power to modify or enlarge them, charged to
inquire, and not authorized to accuse or to ar
raign, except in their report to the House IT.
self; armed with but the limited authority of a
committee, unauthorized to punish, were neces-
sarily compelled to the conclusion, that, in the
face of the distractions already detailed, they
could not efficiently prosecute the inquiries with
which they were charged, without the aid OF the
power of the House of Representatives.
Anxious, however, to perform their duty with
out complaint to the House, and in conformity
with the proceedings Of the Committee OF In
vestigaton of 1919 and 1882, your committee
called on the Bank, in a series Of resolutions, to
furnish statements, and certain extracts and CO.
pies from their books and papers, which in the
opinion of your committee, were all Intimately
connected with their duties, and many OF them
indispensable to afford to the House OF Repre-
sentatves the information which they had di-
rected your committee to obtain.
The first of these was responded to by the
Committee Of Directors, and the information
furnished. Though useful, it was comparative
ly unimportant.
The Board of Directors, after elaboration,
refusedto comply with the other calls, for rea-
sons which will be found in their resolution in
| the appendix, and which reasons deserves exam
ination, as manifestng the deliberate purpose
| to the Directors to resist all attempts to exam
inc into the proceedings of the corporation in
| the latitude required by your resolution.
They say that the Board of Directors, do not
feel themselves at liberty to comply with the re-
uuirement of the Committee of Investigation,
because "part" of the copies called for "relate
to matters over which the Board have no con-
troll"
This reason it is plain, cannot have had much
weight in producing the decision of the Bank.
If only part of the information desired was
beyond the control of Board that fact could
have been stated, and this committee would have
cheerfnlly received the residue
3D. The Board say, they cannot comply, be-
cause it would be impossible for them to do so
| "within any reasonable time, having ascertain
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statements called for by the resolutions of the
29th ultimo alone, would require the uninter-
rupted labor of two clerks for at least ten
months"
This reason, it is also fair to presume, could
not have materially influenced the decision OF
the Board If, in truth, an entire compliance
with all the resolutions would require great Ia
Dor still that did not justify the refusal to com.
nl,, with anv one Of them Resides the whole