Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1835-01-01

w
dent of the United States in reference to
the nomination of Government Directors.
Who did he name as the Directors OF
that Bank in 1880, on the part of the
Government? Nicholas Biddle and some
of his friends And yet it is said that he
is desirous Of destroying the institution
because he could not manage it; because
he could not make others ''fddle" at his
bidding. Who did he nominate as Co
vernment Directors in 1891 ? Nicholas
Bidde and some of his friends. who,
he (Mr. b. would ask, were nominated d
to that Bank in 1882? Nicholas Biddle
and some of his tliends! Three years
was he placed at the head ofthe Govern
ment Directors, by consequence lndlcat-
ing as far as indication could 90, that he
was placed there by the nomination oi
Andrew Jackson. Notwithstanding this,
for three years had that exalted person
age been charged with being inlmlcal to
the Bank because he could not manage
it. Yes! the Journals of the Senate con
tanned the recorded evidence oithe false
hood of these charges, and from those
journals it could not be erased.
lie, (Mr. B. would not 90 into the
matter, but, when he saw that the com-
mittee had struck another blow at the
purest man in America, he would say he
felt bound to vindcate his character.-
When the committee had brought out a
decision against him on the general
ground that he had alleged that the Bank
had violated its charter by creating an
exchange committee, he (Mr. B. would
tell them they ough; to have made a clos
or examination. Thus they had made a
false issue. The charge was not made
against the Bank for creating an ex-
change committee, without which he
presumes no Bank in the world exists, }
but the charge was of an entirely differ
ent character; the issue oug ht to be cor
recty stated, and met in the presence oi
the Senate and the country.
He (Mr. b. had one single fact to
present When the American people
came to read that elaborate report in de-
fence of the Bank and in culpation of
the administration, he should then owe it
to them to show the truth as it appeared
on the face of the monthly returns Of the
Bank itself; which, when it should be
confronted with the statement made by
the committee, would excite astonlsh-
ment, not only throughout our continent,
but Europe also. The conduct Of this
Bank, doubtless, had occasioncd the
pressure of the last year Now, the
statement Of the Bank showed to what
extent they were liable to this charge.
He had taken from the monthly state
ments of the Bank the following facts.
Here the honorable Senator read
statements of the various sums which had
been transferred by the Bank to their
agents in London, the gross amount of
which was S3,4l5,3l3. All of which,
he averred, had been squeezed and
pressed out of few Branches at the
South and West, to be forwarded to their
agents, in whose hands it was to remain
until the Bank gave further orders. by
the last report, it appeared there was the
sum Of two millions remaining in the
hands of the Barings in London. Now,
gentlemen could not have looked into
the monthly returns, or they would have
seen that fact, not, however, in the Ian
guage which he had used, but they could
have detected it in the papers to which
he had just referred. He would assert
that when the people should be in pos
session of the facts which he bad men
toned, it was impossible that the Com
miltee could stand justified in their state
ment that the pressure was not brought
about by the Bank.
Another fact was also shown by the
monthly returns, viz : that during the
panic Of last winter, there were two
transfers of specie from the branch Bank
of New Orleans, one of about $500, 900,
the other of $500, 900, making, together,
a million and quarter, which was press
ed out Of the merchants Of that city, and
which occasoned a depression in the
price of flour, ana other articles, to about
one half; and all this was done under the
pretence Of supplying the vacuum Great
ed by the removal of the deposites. No
doubt that million and quarter which
were carried away from New Orleans
was invested in bills Of exchange, to be
to the Barings. Would to
God that he had the power to examine
the report before the American people,
and to call witnesses, as he could do, to
disprove at least forty of the statements
made in 1t. After this, he would ask,
must not the Committee feel the necess-
ty of altering the report?
Mr.. B. in conclusion, again repeated
what he could do if he possessed the
power of examining Witnesses, and then
resumed his seat.
Mr.. Tyler said that nothing would please
him more than to have the Report of the