Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-04-10

4
two agents Of the same people, who me,
every day for the common good, should
act as If they were the representative
Of antagonist powers. On other sub.
jects, the President and heads Of depart.
ments had no such formal intercourse
and ] considered it my duty not to en-.
courage it, although by Withholding this
letter, l did violence to my personal
feelings.
Besides, it was perfectly obvious, that
it was not with the President 1 was
measuring the weapons ofargument, but
that l was thrust at, from behind the ta-
pestry, without any power on my part ia
return the blow, except upon the Presi-
dent, who really seemed to be uncon-
scious that it had been struck. By this,
l mean, that in writing the President
was made to insinuate what was at vari-
ance with his own declarations; so that !
was compelled to believe either that he
was unconscious Of what was written for
him, or else that he was deceitiul TO me
| adopted the former Of these alterna-
tives as the most charitable conclusion,
especially as | became more and more
satisfied that the President was not gui-
ded, as to the deposite question at least,
by his constitutional advisers, but impel-
led by persons who had sinister views.
Accordingly, concluded to promote
personal intercourse only, and even fiat
tered myself that if communication by
letters could be terminated, the President
would adhere to his assurance not to
"interfere with the ndepe ndent exercise
Of the discretion committed to the Sec
retary Of the Treasury by law over the
subject" Of the deposites. Under the
influence Of these feelings, and to avoid
suspense, waited upon the President
twice on the 18th, and again OH the Goth
Of July. AT these interviews he sald he
wanted an inquiry only; and on my say
ing that his letter Of June 26th, indica-
ted an actual removal by the 18th Of
September, he remarked that the Bank s
might not agree to the only plan he
thought safe, that Of mutual guarantee
that information ought to be obtained
even for the use of Congress-; that he
conceived l ought to cooperate in col.
lecting it; that he was desirous that Mr.
Kendall should make inquiries; and tha,
he might remain uncomnitted, until af.
ter consideration Of the questions tina,
were connected with change Of the
depository.
Well disposed to obtain information
which believed would undeceive the
President, and considering that a know
ledge Of the facts to be collected mus,
be useful, in any event, ! consented, as
a ministerial act, to prepare letter OF
Instruction, for the Presidents agent
When !, had written it, waited upon
the President on the god Of July, not
doubling but that he would confer with
me as to the points of inquiry embraced
in it, and indicate any imperlection OF
omission But in this | was greatly dis
appointed, for he desired me to leave the
letter of instruction for his examination,
adding, that he would see me after he
had considered it.
will here lay that letter before you.
The paragraphs E, F, C, H. X, l., were
embraced in the Presidents plan OF
State bank agency, quoted from his let
ter from Boston, dated June Goth. The
remaining paragraphs were introduced
by myself.
INSTRUCTIONS.
(A) "Sir-The operations ofthe Bank
Of the United States, excepting such as
may be necessary for winding up its af-
fairs, will cease on the 4th Of March,
1886. II, in the opinion of the Secreta-
ry Of the Treasury, adequate reasons
shall justify the measure, he may at any
time prior to that period cease to depo-
site the public money in that Bank.
(B) "The President, therefore, con-
siders it his duty to ascertain whether a
substitute for the present public deposit
tory may not be had, in the event Of a
change prior to the termination of the
charter, or at the dissolution ofthe bank
should it until then remain the deposito-
ry.
(c) "Tt is the opinion Of the President
that to conduc. the fiscal operations oI
the government, bank agency is neces'
sary; and, as he cannot consistently with
his avowed sentiments, sanction any ma
tional institution, he desires to seek iol
agents amongst the banks Incorporated
by the several States in their individual
capacity.
(D) "The President, having designa-
ted you MS the agent to make the neces-
sary inquiries, | beg leave to present to
you the views that he eDteriains as your
guide; it being understood that you are
to make inquiries of all the Banks Of the
principal cities, in which primary Banks
a,e to be selected in order that an ample
scope for selection may be had.
..sI,l A. ...I.c,ol a.,