Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-18


OF Exchange would soon be appointed, the Commit
tee which made the loan should consurnmae il. had
ALSO in the public prints many reproaches against
the Bank Tor lending money to printers aud editors and
unwilling that any loan made by the Bank should
seem to be private loan from one Of its officers Having
for the money would have been perfectly conve.
nient to let the loan remain as was; but thought II
right that thing done by the Bank should always be
distinctly known and avowed; and I therefore gave
the notes TO the Chairman VI the Committee, Mr. Thomas
Il. Cope, who entered them on the books"
Having read this Statements MIR. b. went on TO say that
he was not arguing upon now but merely putting CIR
cumstances together to make out presumptve case,
which would stand for true until those Who could
clear up should come forward and do Pursuing this
dry and unambitoas course the next circumstance which
he would b,irg into the array the hcgud oil burrows,
whose flight from the Marshais, during the sitting OF the
Investigating Committee, left them wholly unenighened
by his account OF the manner in which he became pos
ses'ed OF this large sum OF for object so remote
from his usual mercantile rstios aud With which he
did not think il prudent to mix his name Mr.. Noah,
however, supplied. in some degree. the absence OF Mr.
Burrows and his account Of the 900 will the fourth
circumstance which he should bring together In the
io nation OF this case II Is this: "Beng terms OF
intimacy with Mr.. Slas +. Burrows. mentioned the
circumstance to him; and, believing that he possessed
facilities, proposed that he should loan fifteen thousand
dollars 10 effect the purchase Zone half Of the Courier and
Enquirero on condition that ten per centuin should
be paid every elk months, with interest," until the whole
was liqui 'ated He told that his mercantile ope.
ratons were extensive, aud that he could not we'll
take that from his capital but that he approved of the
purchase, and would apply his father ia Come Tor
loan TO that amount. In few days, he informed me
that he was going TO for his father and SUBJ
sequently that his father had arrived in town. and invited
meet him at his house in Blocker street, where,
alter much preliminary conversation and arrangements,
gave my notes TO MIR. Burrows, Senior endorsed by Mr.
Webb, and commission Of two and half per cent. 10
Mr. Burrows, Junior and received from Mr. Burrows Sc
S0r. his paper which was subsequently c;shed by Mr.
six months after negotiating this loan that final payment
made by Mr. Burrows. Judge, therefore, Of my
onshment at having heard suggested that that sum in
money loaned by Mr.. Bdde for my use. when
throughout the negotiation the name OF the U. States
Bank mentioned; and never for a moment
suspected that the loan emanaed from any other than
MIR. Enoch Burrows Of Connecticut" The fifth fact
which Mr. b. bad arrange into this picture was, that
the supposed Enoch Burrows father to Sas who rur.
ed great oneyender in this Transaction,
the real Connecticut Enoch. father of Silas but sort Of
fac site representation Of the old gentleman sort Of
John Doe, Richard Roe-who had been acquired for
the occasion from the streets Of New York, and dis
present Of halt crown and glass OF grog, for the
bic he had taken in sitting in dumbshow during the pro-
gress of the negotiation, and noddng his head with pam
tomimc gravity, in token of assent when the solemn a
fair concluded. Having put these five circumstan-
side by side, MIR. b. would them by quota
ton from the letter Of the famous William Cobbcu TO Pre-
sident jackson, which had just appeared in the United
States and among other things described the Of
performing certain operation In England;
in the manner OF here which is wholly unknown TO
your tribe of paper money rufians. The press is
ms. the ana a, Ten h
the manner of is so indirect-the source is at
great distance from the reservoir-the stream
ders through many and such covert channels-that ii
would take year for the most acute In the world,
though invested with full pewers to send for persons
last hand the frsi9" The sixth circumstance which
Mr. b. would groupe into this cluster the fact area-
dy proved that the Government Directors have
in vain to obtain from the President of the Bank the
other Directors, account whatever OF the application
Of sum, used under the resolution Of March Ih 1881
Of more than twenty thousand dollars and yet wholly g
norant of the and persons to which it applied
their application for information being constantly rejected
up the notes Of Webb and Noah to be put on the books of
the Bank, that he did because he thought right
that every thing done by the Bank should always be dis
ncty known and avowed" The seventh incident which
Mr. B. would weave into this web was the circumstance
of an offer of pecunary aid made TO the editor Of the
"New York Standard" upon certain conditions in the
same month Of March, 1881 few days after the passage
Of the famous resolution of the llh Of that month";
nearly cotempoIaneouy with the generous assistance
tended 10 the Editor of the Courier and Enquirer The
eighth and last of these colaed circumstances was that
before The loan through Burrows the Courier and Enqu
the United States after that time il abounded with like
articles in favor OF it, With this array of dates and facts
Mr. b. would pause, and submit it TO the Senate, and the
American People, to say il there was not presumptive
made ont against the Bank Of the United States which
must stand for true until is cleared up by full and
public examination.
Mr.. b. said he the close of what he had TO say
on this head namely the surrender Of the funds Of the
Bank its President without Limitation of time or amount
for the simulated pretext defending itself the as
saulis OF the President in his of December 1929
The pregnant reflections which would result from the de-
tails he had gone through, would force themselves upon
the minds OF all persons In one point Of view only,
would he present OF the circumstances again
what this Exchange Committee was, which has promi.
nenty appeared upon the supesedng and eclpng
the entire Board OF Directors
would be observed, that the arrangement for the $5
600 took place entirely between Mr. Burrows and Mr.
Biddle. The exchange committee not present
the application The whole arrangement was entered
matter OF course, upon the books of the committee,
when MIR. Bidde gave in the notes which had been dis
counted; and other discounts subsequently made
continuation Of the transaction, until 52 900 were
loaned and years allowed for repayDg it, In this point OF
view the important conclusion will present itself to the
minds of all candid and impartial inquirers that trans.
eIrng the great business OF the Bank from the board pre-
scrbed by the charter, TO subaern committee named
by HIMSELF the President of the Bank has, in reality
situed bmsi sole Governor OF the Bank of the United
States receives and enertans, in his private
the application for loans which ought 10 be made at the
board makes what loans he pIeases,to what amount he
pleasesupon what security he pleases-upon what
aud conditions he peases-o what persons he peasesor
which he this and irresponsible power, au-
hory without limitation 10 time; and irem all the
cumsances OF its avowed origin and notorious use is
authority intended 10 be continued until that of Presi
dents shall be set aside who will commit the crime Of as
saulting the Bank President Jackson did his message
Of 1929
Must such Bank have the further keeping OF the pub
lie moneys Is II not enough that she has long had
them for such incredible purposes! Is enough that
IL has millions OF the public money in its stock
which it wies piease9 Is it not enough that the
whole amount Of its notes receivable In payment of
the public dues, and derive credit and circulation from
that circumstance which enables them traverse the con-
nen andpass from hand TO hand, without calling at the
doors oil the Bank Tor any part of that ten millions oil
specie which lies inactive in the vaults of the Bank while
business screwed TO the utmost for the dollar,