Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-05-27

preliminary Tor which IL Is believed ample
apology any be required will be found in
portion OF this report the Committee will proceed with
brei analysis OF their proceedings in the execution OF
dulles devoved on 'heu showing the xpeced obsacl
inerpcsed by the OF the Bank the progress
the exsinnaon aud their repeated reusas, la violation
oil their charter, asd in contempt the authority ofhe laws
and the House oil Representatives permit their books
or papers to be inspected their proceedings be
amined.
The purposes for which your committee were sppoin,.
ec arS stated so distinctly In the resolution OF the House
that they have experienced M gliding
en- The character 81 tue duties imposed They requi
ed ls To ascertain, practicable, the Of the
mereal embsrrassu, aud distress complained OF by
numeious ciIizens oil the United aies, in sundry me
ras which hs,e been TO Congress The
session, aud whether the Bank has any agency
us management or money, ia producing the existing pres
United States has Il, violated what corr options ard
abuses have existed in its Management.
81. To examine whether the Bsnk has used lite corpo
rse power money control the press-to interfere m
poliics, influence elections.
The powers designed 10 be conferred on the committee
they could have been exercised, adequate to the
performance oil the duties enoned they were authorized
10 send Tor persons aud Pspei; TO examine
Witnesses Oh oa-o visit the princi,al AM
and its branchessnd inspect the books correspond
cDce accounts, and other papers with its ma
nagemen such are the duties and the powers Of your
committee, conferred them by the House with extra
ordinary unsny and which your ielt be- und
regard consi tent with the chartered rights the
coporators and their debtors.
Uuder deep of respectful obedience TO the de-
cision OF the House oil Representatives thus soemny
pressed and eeng that they had right to question its
justice propiiey, your committee proc eeded 10 Phila
delphii the 22j April commence the performance Of
ffesiSeho o. the Bank enclosing conv
VI .ne resolution OF the House oil Repres enaiives aud
nouyng hm oil the readiness OF the Committee to visit
!he Bank on The ensuing day. al any hour sg,eesb. 10
nm In reply, the President inoime the Committee
mat the papers thus received should be submitted 10 The
BOARD OF Directors, at special meeting TO be called for
that purpose II appears in journal of the proceed
ings OF the Commi,ee herewith pre- senied 10 the ou.e
that this done aud tina, the Directors appon.ed c.
Boa IN A.
oil he House OF Representatives, to off for their in
speeon such books aud papers the Bank as may be
necessary 10 exhibit the roceedings
according TO the requirement Of the charter Ia he let
Ter oil John Sergeant, Esq, Chairman OF the Com.
m OF directors commune ang the proceedings of the
boafd he says that he dire inform The Chair
man OF this committee. that the Committee OF the Directors
WIN immediately direct the necessary arrangements to
DC made Tor The accommodation Of the Committee of the
mouse oil Representatives, and would attic nd at the Bank
TO receive them the day, at III o'clock Your com
miee attended, and were received bv Tie Con,i,, !,
Directors. "
Up to this period nothing had occurred TO Justify the
oehei mat disposition was felt, the part OF the mana
gers OF me bank TO embarrsss the proceeding OF the
committee or have them conducted differently from those
OF "e Two preceding Committees OF investigation On
assembling, however, the morning at the B.nk
they ound The which had been offered for their
Boar %i H., pre-. occupied by the Committee the
tcio member, claiming the right to be present AZ lie
Investigations and examinations Of Ibis committee This
wJ we committee were not prepared to expect.
"heh Tue appointment oil the Committee OF Seven was
nrst made, II was supposed that that measure
designed was not veil calculated 10 facilitate The exap
nation. - ~
The officers of the Bank were believed TO be- The ros
appropriate agents OF The Board Directors 10 exbb
BOOKS ana papers by them the entries in hooks are
Hade, au oy Them such entries ead,iy explain
ed IL is their duty, daily at The Bankng. house
and on that account they could assist in the examination
more readily Than the Committee oil Directors.
These objections TO the special agents OF the Board were
e ana expressed but they waived DISPOSE.
uon had been manifested or felt by your committee to
cohour' me examination in an entirely ac-
ceptable TO the board.
Under these circumstances your committee did think
ha ceceh respect for their rights privileges and
nneh more or The dignity of that body from which all
her powers were derived might have induced the Com.
niee oil Directors lobear 10 make then feel an enr.
want OF control over their room With pre yous de-
termination TO be when their books were 10 he i'm
sPeeeu' 'hey could have waited TO it until these
DOCKS were called Tor and The attempt made 10 in,pect
item in their abeEce These circumstance arc nos.
e' because they then excited app he nson which
ne eque formed INTO conviction that this Committee Of
Drec ois had been appointed TO supervise tho ars and M
g OF Your committee, and TO i restrain their pro-
eeeug, nor according 10 the dire ciions in the
pI, % me Honse' but The will and judgment of the
board OF Directors. Your committee have ~,
IAN. o. me Committee Of Directors. SIT conformity
WIN men, 10 Tie desire opreven hem from knS use If
e oooks and papers for purposes pointed by
s sow ION O. 'he hone They sensible that this
" !" oe present nj all examinations ayowed pretna
'urey' ana subsequently persisted i'm with peculiar pe
hae"y, Gould be attributed 10 very different motives bnt
espect Tor themselves aud for the gentle ,,
composed The Committee OF Diret tors utterly ro,bJs ,j
sS'Iip'on 10 ihem oil feeling which wouiJ merit con,
p'1 T, ahu eonenpt much more than resentment
MS mover position, voluntarily aud deliberately t,ksn
oy he committee Of the Drec tors predcaed on an lido,
OF eqnay oil rights with your committee under vour
iesoi"on rendered il probable and i'm some measure mo-
essay h" your committee should express its opinions
"c reldhve lights OF the corporation and the House nj
REPRESENTATIVES, 10 avoid ali msuf de rsfanJipg and f,
ue nIepfeseniaions II desi' able that each oues
noa should be decided separately. ContemoIating an
'ehdt investigation. but Hing ,het an apprehension
s"ood exist OF improper disclosures being made nj ,be
transactions oil the Bank aud lie customers vour co;
zee Io'o"lng the example OF the committee of 1890
VPvu resolution declaring that their proce edinps
s""i ne continental, until Otherwise ordered nv Tie
.o"i,'"ee' ana also resolution that the committee
to"uoI It's Investigations, w iIout tie presence of
any person not required invited to at,end coov "a
hese resolutions furnished 10 the Connit,.e ~ nj
sc0Is 10 he hope that The exclusive control of room,
e p'hK during IFS hours Of business youId tho,e.ns,
eoo."eu 70 your committee, while tho claim of The
COMMITTEE OF directors 10 be present when their hooks
were submitted Tor Inspection should be posooued for do
cison when the books w ers ritd 80, ppo"eu LOT ue-
them. ~ 'o' """ P'Ooueeo Oy |
on the 18th u this committee assembled a, tho b,,L
ing house, and again found the room they expeo,ed 10
sc. apart Tor telr use, preoccupied by the Committee f
directors and oilers, officers the Bank And ios,eaJ
VI u'n assurances as they had right TO expect they ia
copies OF Two resolutions adopted by the Board nj
directors, III which they given 10 understand tha
" continued occupation OF ie room must be consider
~ ,'so,' ana not mailer OF right; and in which the
Do'Tu indulge III unjust commentaries on the Iousc f
representatives,; and intimate an apprehension tha vonr
uohhtee design 10 make their examinations eer,ot
val uJus', oppressive and contrary 10 common right
"heh lhs commune alton had been read yo,,r con,o;,
"JOuinen 70 meet nj their chamber al he NORTH
n"c''e"h hoieI notwithstanding all thai had occurred
"e O'esPoDuence with The committee of directors wa.
sonUhued ~ ia so doing error was committed le i,
be imputed TO the belief that great orbcarsnce Iii
lac Ipff.r H. ~ Al.