Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-12-20
3,166,e7o II
fit and loss account
lO,044,646 II
6,OO5,3l5 II
Total amount of surplus fund
Deduct estimate of losses
$4,039,330 40

Excess in favor of the Bank $4,639,3 $50 40
After making this very satisfactory statement
of the affairs OF the Bank, advertng to the man,
ner in which its credit had been assailed, ana
by the Government, too (the iargest partner III
the Bank the committee say that it is in the high
est degree questionable whether any other lnstl-
tuition could have withstood such systematic as
sault much less have prospered shder 1t. Inc
result of which, as evinCed by the above state
ment, only shews (say the Commttee) how deep
rooted was the public confidence in the sovency
Of the institution, and how high the opinion en-
tertained OF the ability with which It's aHalIs
have been administered
The Report next proceeds to take up, and
treat large, each Of the other particular points
on which the conduct OF the Bank has at any
time, or from any respectable quarter, been I'M
plicated-giving ample testimony on each case,
to sustain the conclusions at which the commit
tee had arrived. These points were too nu-
merous to be stated in detail from memory, but
we may enumerate as the most paramount the
following
The case of the protested French bill OF eX-
change. in which the course adopted 6y the Bank
to bring the question before judicial tribunal,
for fair and legal decision, is approved ana
sustained by the committee, as well as the just
right of the Bank to damages on the bill in ques-
ton.
The allegation against the Bank Of having
encing public sentiment: Shelving, from authen,
tic documents, that the Bank had established
Branches only where the business OF the COM
munity had justified it. that in many OF these
cases, the influence Of the highest public charac-
tiers had been disregarded for years where the
creation of Branches had been urged-espe-
ciay in the case of Nashvle-and 80 or 40 ca
SEES, We should think, in various States are par
ticularized, in which the establishment OF Bran
ches has been refused to the present day, though
pressed by great numbers Of the most repecta
BILE citizens because the business Of those places
did not warrant them; and from the facts exhl'
bted, the Report expresses the opinion that, SO
far from establishing Branches where they were
not needed by the commerce OF The community,
if the Bank had yielded to the urgent soctat-
tons from every quarter, it would have estab-
lsh them ad infnitum.
The charge Of lending money to members o.
Congress, and other public men, for political
purposes, which it shews to be unsustalned oy
any evidence, and wholly futile.
Loans to Editors, in which it gives mass OF
detail, showing the groundessness of much OF
the slang of the day on that subject.
There are many other points of minor char-
acter, occupying a large space in the report, on
most of which the conduct of the Bank is shewn
10 have been perfectly correct, and some In
which it is diSapproved.
The reading of the Report having been finish
ed, Mr.. TYLER moved that II be printed; "hen
Mr.. Benton rose, and, with much vehemence,
and considerable length, controverIed the cor
rectness of some ofits statements, which lie pro-
nounced false.
MIR. TYLER replied, and averred, in the most
solemn manner the truth nfevery title OF the Re
port; all the statements OF which, he SAID, were
founded on documents Submitted with the Re-
port which could not lie. 10
Having thus briefly run our hand over the keys
of the report, it may be proper 10 state, IN con-
cl sion, that it is understood that the investga-
ton into the affairs of the Bank was mainly con
Quoted by Messrs. TYLER and MANGuM, with the
occasional attendance and aid of others Of the
committee. The two gentlemen whom we have
named have, we believe, given the greater part
of their time, since the last adjournmentof Con-
gress, to this important subject The report,
we understand, was drawn up by Mr.. TYLER.
National InteHigencer.