Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-05-05
REJECTION OF THE GOVERNMENT d
RECTORS OF THE u. S. BANK.
THE MESA GE.
WASHINGTON, Mar

iadelnhia. and Hugh MoEldery, OF Ballmore,
IN he Directors in the Bank OF the United states,
for the year 1884 e
of the President officially to inquire into, or
call in question, the reasons OF the Senate for
rejecting any nomination whatsoever. AS the
president is not responsible to them for the rea-
sons which induce him to make nomination,
90 they are not responsible to him for the rea
sons which induce them to reject IT. In these
resnects each is independent Of the other, and
both responsible to their respective constituents
Nevertheless, the attitude in which certain VI
tai interests of the country are placed by the
rejection of the gentlemen now renomnated,
require of me frankly to communicate my views
of the consequences which must necessarily fo
low this act of the Senate, II 1t be not reconsl-
idered.
The characters and standing OF these gen
f}emen are well known to the community, and
en1ineutly qualify them for the officer TO which
Ispropose to appoint them. Their contrmauon
bv the Senate at its last session, to the same OF
fees. is proof that such was the opinion oil them
entertained by the Senate at that time; and uh-
: less Something has occurred since to change II,
his act may now be referred to as evidence that
their talents and pursuits justified thelrSelecuon
The refusal however to confirm their noml-
nations 10 the same Offices shows that there IS
something in the conduct OF these gentlemen,
dnring the last year, which, in the opinion OF
the ssenate. casualties them; and as no charge
hasy{>een made against them as men or citizens,
nothing which mpeaches the fair private cha
racter they possessed when the Senate gave
them their sanction at its last session; and as 1t
moreover appears from the journal OF the Sc
nate. recently transmitted for my inspection,
+ thai Il was deemed unnecessary to inquire into
their qualifications or character; 1t is TO be IN
ferred that the change in the opinion of the Sc
nate has arisen from the official conduct OF
these gentlemen. The only circumstances IN
their official conduct, which have been deemed
IF sufficient Importance to attract public atten
ton, are the two reports made by them to the
Executive Department of the Governments the
one bearing date the 22d day of April, and the
other the 10Th day of August last both OF which
reports were communicated 70 the Senate by
the Secretary of the Treasury, with his reasons
for removing the deposites
The truth of the facts stated in these reports
is not. | presume, questioned by any one. The
high character and standing of the citizens
nv whom they were made prevent any doubt
unon the subject Indeed, the statements have
not been denied by the President OF the Bank,
and the other Directors. On the contrary,
they have insisted that they were authorized
TO use the money of the Bank III the manner
stated in the two reports, and have not de-
MED that the charges there made against the
corporation are substantially true. 1t must be
taken therefore, as admitted that the state
ments Of the public Directors, in the reports
above mentioned, are correct; and they dis
close the most alarming abuses, on the part OF
the corporation and the most strenuous exer-
tions, on their part, to correct them. They
prove that enormous sums were secretly lavish
ed in manner, and for purposes, that cannot
be justified; and that the whole OF the immense
capital of the Bank has been virtually placed
at the disposal of single individual, to be used,
If he thinks proper, to corrupt the press, and to
control the proceedings of the Government by
exercising an undue influence over elections.
The reports were made in obedience to my
official directions; and herewith transmit CO.
pies of my letters calling for information of the
proceedings of the Bank. Were they bound
TO disregard the call? Was it their duty to re-
main silent while abuses of the most injurious
and dangerous character were daily practised?
Were they bound to conceal from the constitUt-
ed authorities course Of measures destructive
to the best interests of the country, and intend
ed gradually and secretly to subvert the foun-
dations of our Government, and to transfer Its
powers from the hands OF the people TO great
moneycd corporations Was it their duty TO sit
in silence at the Board, and witness all these
abuses without an attempt TO correct them; or,
in case of failure there, not to appeal to higher
authority2 The eighth fundamental rule autho-
rizes any one of the Directors, whether elected
or appointed who may have been absent when
an excess of debt was created, or who may
have dissented from the act, to exonerate HIM
self from personal responsibility by giving no.
tice of the fact to the President of the United
States thus recognizing the propriety of COM
municating to that officer the proceedings of
, the Board in such cases. But, independently of
any argument to be derived from the princi-
pie recognised in the rule referred to, cannot
doubt for moment that it is the right and
the duty. of every Director at the Board to at
tempt to correct all illegal proceedings, and,
in case Of failure, to disclose them; and that
every one of them, whether elected by the
Stockholders or appointed by the Government,
Who had knowledge of the facts and concealed
them. would be justly amenable to the severest
censure.
But in the case of the public Directors it was
their peculiar and official duty to make the dis
closures: and the call upon them for informa-
ton could not have been disregarded without a
fragrant breach of their trust. The Directors
appointed by the United States cannot be re.
garded.in the light Of the ordinary Directors OF
a Bank appointed by the Stockholders, and
charged with the care of their pecuniary inte-
rests in the corporation. They have higher
and more important duties. They are public
officers. They are placed at the Board not
merely TO represent the stock held by the United
StafeS Int TO observe the conducf of the corn0-