Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-10

rehuked: on the other hand, were 10 pedSe
myself hereafter to abandon my present sentl-
ments, without knowing whether any tnlng may
arise to Justify the change, ! should betray
weakness to be pitied, perhaps despised. All
that can promise, therefore, consistently with
the resnect due to you as well as myself is, that,
when the moment for decision, after inquiry and
discussion, shall arrive, will concur with you,
or retire. 80.
With the utmost consideration, your obt
serv't. w. ;. DoANH'
On the next day, after had with the utmost
sincerity given the assurance contained in the
above letter, in the confidence that full inquiry
was medtated by the President, he returned the
instructions to me altered in thevery particulars
which had been in my contemplation When thdt
assurance was given That IS, had embraced
| in the instructions the Presidents plan OF state
bank agency, for on the 18th OF July ne oeclar-
ed no other would be safe; | had also lncorpora-
ted direction to collect information AS to the
| effects of a removal Of the deposites upon the
| mutual relations of the banks, and upon society;
and in his letter above quoted, the President ad-
| mitted inquiry was to be made into all matters
| connected with the substitution of another ifs
cal agent" In this state of things, assured the
President that, if after receiving information, to
| be obtained by the agent and consequent discus
sion, could not agree with him, would retire.
On this receipt Of this assurance, the President
struck out the direction to collect information,
and inserted new provision, empowering the
! agent to propose or accept new plans
| NV confidence now began to waver. | per-
ceived that full and fair inquiry into all mat
| tiers connected with the substitution OF another
fiscal agent" was not meditated. And the
question inevitably presented itself, whether, in
the altered circumstances, was not absolved
from an obligation to respect the assurance l
had given. But, still fattered myself that the
| President would be undeceived, and that the
time of the meeting Of Congress would be so
closely Appropriated, ere a suitable inquiry
| could be made, as to render any action by the
| President altogether indicate and improper.
l. therefore, prepared the Instructions as altered;
not with a view to retain post which had no
| longer any attractions for me-not to thwart the
President in his legitimate course-not to mar
salutary measure-but to prevent the execution
of a scheme which believed would be detri-
mental to the country and the President him.
self.
The alterations made in the Instructions were
| these
Instead of paragraph Co. according to which
| | had made the President, as supposed he was,
an opponent of any national bank, he introduce
| ed the following
"It is the opinion of the President that here
| after, as heretofore, bank agency will be found
convenient, in managing the fiscal operations of
| the governments and, as he cannot consistent
ly with his avowed sentiments, sanction any ma
| tional institution, organized upon the principles
| of the existing bank of the United States, he
deems it proper to ascertain whether all the SER
| vices now rendered by it may not be performed
| by the Banks incorporated by the several States,
on terms equally or more favorable to the gov
| eminent"
The paragraph (D) was altered by striking
out these words: " 1t being understood that you
are to make inquiries Of all the banks in the
principal cities, in which the primary banks are
70 ho order hat
lection may be had"
Paragraphs o. (N) and co. were wholly
struck out. have not copied g. in the instruc-
TONS as it was not thought proper to be embrac-
| ed in them, on justifable considerations: its
omission does not affect any existing question.
| This new paragraph was added:
"You are not to consider yourself precluded by
! these instructions from making any other pro-
| positions to the said banks, for the purpose of
ascertaining on what terms they will undertake
the service referred to; and you are at liberty
to receive any propositions from them that they
may think proper to make.
The Instructions thus altered, were on the
23d Of July sent to the agent who soon after pro-
ceeded on his mission. He returned early in
September, and on the 9th of that month his re-
port was submitted to the President. The plan
of bank agency, deemed by the President the
only safe one, had been almost unanimously re-
iected by the stake banks. The materials (pa-
state banks was to be ascertained, were very i'm
perfectly furnished. No enquiry, beyond that
which resulted in the agents report and cores
pondence, was, to my knowledge, made. Nor
was there any discussion in my presence, or
otherwise to my knowledge, as to the agents
report and correspondence, or any plan of state
bank agency. lfany member of the admins
tration understood what was to be the system Of
future fiscal operations, was not that person,
although attentivey read all that was submit
ted. Yet it was into this chaos | was required
precipitately to plunge the fiscal operations Of
the country, at moment when they were con-
Quoted by the legitimate agent with the utmost
simplicity, safety, and despatch.
In my own defence, well as from public
considerations, have submitted to you this &C
count of the Instructions given to the Presidents
agent. 1t was due to myself to show that the in
structions as reported to the Senate, are not in
the shape in which presented them to the Pres-
dent. My principal object, however, has been
to state the important fact, that the President
would not permit his own agent to collect infor-
nation that might have disabused his own mind,
or instructed his Cabinet whom he affected to
consult. If the information, called for by the
instructions as at first prOnOSed had been col