Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-05-29

examine INTO LIc uutu Vi lHC hiooS
by the Government Directors to the President OF
the United States and to Congress, and for that
nnrpose will this day call for the production, Tor
inspection, of the minute books containing the
proceedings of the Directors of the Bank, and
the expense books and vouchers Tor expenses IN
incurred.
As preliminary to a reply to this demand, the
following paper was read by the CHAIRMAN Vi
the Committee of the Board:
May 7, 1884.
Whereas it appears, from the resolution OF
the House of Representatives OF the united
States, appointing the OF lnVesuga-
ton, that two distinct inquiries were contenl-
plated. one-of them directed to ascertain whe-
ther the charter had been violated, and limited
To the acts of the corporation; and the other SO
very general and indefinite, as to make 1t dill
cult. if not o to say whether 1t has any
limits at all. either as to the matters to be lnqulr-
ed into, or the mode of pursuing the inquiry;
and whereas it appears, from calls mace ny
the Committee of Investigation, that they nave
proposed a very wide range, embracing, among
other things, an extensive examination OF the
acts. transactions, accounts and letters OF lndl
viduals, and thus instituting a kind OF general
search, which is the more Objectionable, De
cause, if it have any purpose at all, IL must NC
to criminate those individuals as well as the
Bank. and if It'll have not this purpose, 1t IS with
ont any assignable object, and would be an IN
luIlOuS IL SlO VI PI4'u ~ IN N - ~
as. under these circumstances, it is the duty OF
the Committee, by all lawful means, to protect
the RIGHTS and sacred confidence entrusted 10
their keeping, and to yield nothing by consept
which cannot be legally demanded from them;
and whereas, after careful and anxious consl-
~deration, they are OF opinion that the inquiry
can only be rightfully extended to alleged VIC
lations of the charter, and this inquiry ought to
be conducted according to some certain prlncl-
pies and rules: therefore,
Resolred, That the Committee of lnvestiga-
ton be respectfully required, when they ask for
books and papers, to state, specifically, in wit
ing, the purposes for which they are proposed
to be inspected, and, lift be to establish a viola
ton of the charter, then to state specifically, IN
wiring, what are the alleged or supposed VIC
lations of charter to which the evidence is al
legged, or supposed to be applicable.
Resolred, That, in the opinion OF this Com
mittee, it would very much conduce to the pur-
poses of justice, as well as to the convenience
of all concerned, if the of lnvestl-
cation would furnish a specification OF all the
charges intended to be inquired into, and pro-
coed with them in order as stated.
The undersigned opposed the call above re-
cited. made on the 9TH May, for the production
of books. They feel themselves, therefore, call
ed upon to explain briefly the considerations
which influenced them. The undersigned have
already stated that they conceived the commit
| lCC, vi III lHO q v WV iOiiO "
bers, to be clothed with a twofold power, and
to be competent, or rather required, by the or
der of the House, to act in a twofold capacity.
They were a committee of visitation, appointed
under the Esd section of the charter. AS such,
they were authorized to visit the Bank, to in
spect the books, and to examine into the pro
ceedings Of the Bank, and report whether the
charter had been violated. They were, also, a
committee of inquiry into the causes of the
present commercial embarrassment and pecu-
mary distress, and into the cOrruptions, abuses,
and malpractices of the Bank. In the former
capacity, they had a right to inspect the books
Of the Bank. They had this right by the char
ter, and would not have had it without the char
ter. In the latter capacity, they had no right to
inspect the books, unless voluntarily submitted
by the Bank, because the charter does not give
them that right for such purposes. The Bank
is obliged, by the charter, to submit its books to
the inspection of a committee of visitation, au-
thorized to report if the charter has been VIC
lated; and it is not bound to submit them to a
committee of general inquest authorized to re-
port on malpractices and corruptions. The
right Of inspection possessed by the committee,
as a committee of visitation, cannot be used by
it in its other capacity of a committee OF gene
raj inquest and accusation, as an instrument of
search after crimes and misdemeanors in ge-
neral.
But the Directors Of the Bank had been up
PiiANNS ~ NN OutSCt, W tIC ltCSolutlci VI lllC
House of the 4th of April, that the committee
was of a twofold character, as stated. That
resolution distinctly enumerates, as objects of in
quiry, not only violations of the charter, for
which the books might be inspected, but various
acts of mismanagement and corruption, for
which they might not be inspected, unless vo-
UNFAIRLY offered for that purpose. The Com
mittee of Investigation had addressed various
calls, by way Of resolution, to the Committee of
the Directors, touching matters concerning
which the charter does not require the Bank to
submit its books for inspection. The call of the
9TH Of May, on the last visit to the banking
house, is for certain of the books Of the Bank,
to enable the committee "to examine into the
truth of the statement made by the Government
Directors to the President of the United States
and to Congress-" That statement embraces
matters which neither are, nor are alleged to
be, violations of the charter; and, consequently,
in reference to which the Directors are not re-
quired to submit their books for inspection.
Had it pleased the House of Representatives
to create two committees, one of visitation, I'M
der the twenty-third section of the charter, and
one of general inquiry, under the power of the
House to send for persons and papers, these two
committees would not have been authorized to