Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-02

PTUUT cannot pTOIuced. Short
s''er'he present Executive In TO power eomuen
ecu TINS war OF persecution witch is said 10 have recoeJ
70 strongly on ne government 10 his FIRST message to
congress tue PRESIDENT had commits ed the heinous sin
OF Informing that body that the constitutonaiity OF the
Bank Mas questioned by himself as we'll as by large
~ w" ~;, .e people. Was this new view. one which
."e 'ts''e" nsd hastily aud suddenly formed was
insinua,ed by the Bank nantes .! II was very Well
'"s "e opinion OF the President, adverse to tho
" oa'es bink Wa not Of recent origin. When the udy-
49," '"e SUPREME Court, in the celebrated case OF
mc|uiock rs The State OF Mar, land was
entertained The same opinion. At the Hermitage, be-
o ne prepared Ills Inaugural address, he had comnun
.'e" ms opiioii-a Tact which susceptible OF proof
Dut u was thought best not to make public
on OF this opinion until he should send his first
Nohgfess Va tins account il was not introduced into
his inaugural address The President the eiore had
acted throughout with perfect consistency yet had
oeeh charged against him that he had to ne
gotiate with the Bank and because lie could not buy de
termined to break it,
I'M. was the charge which had been distinctly made
against nm In the public gszettes IL had been alleged
tat the Secretary Of the Treasury had letter 10
me Pfeient and Directors Of the branch of the u S.
banK I'D New Hampshire, the object Of which was 10
make tsrs with the Bank Ii was not ordinarily reour
Gu 10 give proof oil negative, but from the
se the President Of this branch and the Govern
n,en' me contrary could be established. The Secretary
" e treasury had enclosed TO the President Of the Bank
letter from Mr. Woodbury. parts of which had bee torn
rom uer context, and made the ground of accusation
lie read to the House the following extract from ,be
tor OF Mr. Woodbury., to which he bad referred:
nc ooJec'i"ns 'oihc continuance Of Mr. Mason in Of
are Wo-ioid-hst, the want OF conciliaory re-
anu intimate acquaintance with our busine men ami
eony' 'he tuctuaing policy pursued, i'm relation to
'U,,s ana corrections at the bank together with the
Pa'uai'y anu harshness that accompany Them"
In his letter TO the President of United States Bank
me secretary OF the Treasury had deemed il to
use me following language:
AlovV me, therefore, to assure you tina, ,bose char
WIN ue administration Of the Government relviny or
pf ony on Tue intelligence which shall discern and
y appreciate the character OF their acts, discaim all
desire 10 derive political aid through the of The
DanS' ANA though under other circumstances than
those which exist present. such an would be
necessary had myself called upon explicitly TO ate a,
.hey would learn with less regret, than that which
mas prompted 'hs communication, that any supposed 10.
,e'euohshp, either favorable adverse tow ards
them, had operated with the Bank or any branches
either Ia granting or Withholding pecunary facilities
differently dispensed" ~
Mr. Biddle in his reply to the Secretary of the Trea
s"ry dated July 18th, 1929, says
our own good Judgment has indicated the true theo-
ry oil administering the Bank which is as Won ;us,lv
state, that the basis of credit to be found in
w muusry economy, skill, and capital and that mil
action, which may he necessary to give eciencv IN
anu harmony in, the operations of bank ia lii,
secured by regarding these considerations alone az co
au"g he proper claim to the benefits of its credit:
u a' moheyed institutions should not disturb the re-
aos OF property, by exerling their power in subser
sirie and you add the very satisfactory ha,
nose who are charged with the administrator of ths
'd'sciaim all desire to derive political aid
through the operations OF the Bank and would learn
WIN regret, that any supposed political reIaiansh;n
e'her favorable or adverse them had operaied with
The Bank, or any OF its branches either i'm praniinr mr.
wnhoidng any Pecuniary facilities, which, apart from
m"t consideration would have been differently dspeps.
"These clear and sound princi,,es cor,a;n d.,
elements OF the system of the Bank and i,s ,r,s 70.
la,ion to the Government" " ""' 'e
In The subsequent correspondence, Mr.. Ingham indg
han'y repealed the impuatioDs which were thrown on,
saying in effect, though in terms-It is false and
you knewit." What then, said the President of The
STATES Bank! eapologized and took back the Of
The language of the Secretary was as follows:
Further reflection will enable you to perceive that
tirih fah
10 me administration certain acts, without knowing
whether we sanctioned them or not: and that vou baye
nionay distorted by partial quotations. the natural
ter" r ~ my FORMER let
And the reply of the President Of the Flank dated oc.
tobcr 9, 1922 o follows:
81 had yesterday the honor of receiving and bav. III,
uy submitted TO the Board Of Directors YOUR letter nj
the OH ms ant They have ucied Inc to saw in re-
the views which they thought disclosed in your
oEs correspondence, are discamed he whole Object OF
e BOARD, III renewing il, accomplished; and you will
'pcable." ee' az
Yes, (said Mr.. P.) as no longer applicable ye,
s STARE charge was now nmped up by the Bank of the
United States, in their manifesto and TIN ust before
gess lie should have frequent OCCASION before he con-
ciuded, TO refer 10 this charge
lie said 1t would be impossible for him TO gre,
~ha he had to say at this times but Lefore he welded
he oor he would pledge himself tie nation to sustain
from the records of the Bank and the Treasury tho ,r,
oil every word contained in The report of the Secretary ol
the Treasury lie would show that the Secretary had
been guilty OF no falsehood OF Suppression JRis he
Wouu undertake 10 show in the of his argument
he would prove IL from the documents furnished Inv The
nank ltss AMI il these were false, then the Bank had
ueee1yed the Treasury All who were acquainted with
'ne secretary we'll know that he inc pabIe of
oh aud was with grea pain that he heard charge
mace against him, OF intentional misre presentation He
hoped that the gentleman who had made the accusation
would be ready 10 Withdraw it,
6tere Mr. Folk gave way TO motion to adjourn
oh motion oil Mr. Clay, the House then adjourned