Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-03-09
from the N. Y. Commercial Ad, eIliser.
GOVERNMENT PETS.

/ press information. The result viii be, tho
development OF the most positive evidence
that the whole system OF the depositc banks
has been arranged and prosecuted for poiti-
cal and party purposes The far-iamed cor
rcspondence, in the case Of the State Bank
of Illinois, has been brought to light. Some
very pithy letters from the Bank OF Burning
ton, (Vt.) have likewise been furnished by
the Bank itself, in answer to call of the
committee, from Which the Spy in Washing
ton has made several important extracts. We
quote the following:-
! In letter dated the 25,h Of January, 1886,
addressed to II. n. Whitney, the Cashier.
speaking of the expectations Of the commu
nifty, as to discounts, says:-
| "T'here has been desire on the part of
our directors to meet this expectation, and
the consequence has been, that a rery sensible
change has taken place, politically, in taror OF
/ The Government, and as 1t is our desire 10
strengthen these sentiments, ,ce feel that ii is
important to GGord 10 our farmers and mer-
chants, the coming spring, a pretty e1tensire
accommodation" and then the Cashier pro-
ceedS to urge an increase Of the public de-
post.
| Now this may or may not be the true char
acter of 1.-THE farmers and merchants" Of the
Green Mountains. On that subject know
nothing; but the paragraph shows, beyond
all doubt, two thngs:-Fyrst, that the Bank
was operating politically and wished that
! fact, and the result of its labors, communca-
ted to the administration: And second, that
by means OF the public money, used in the
! . ,1 ,pt. q hoI g.pn hl lo
change, politically" in Vermont. and that to
! "slrengthcn' this change they "jeH IL import
ant 10 oford The farmers and merchants large
Accommodations in tie spring" If this is a
! true description OF the farmers and merchants
Of Vermont, they are rather "a cheap kind Of
| cattle" If it is not true, the administration
! is culed, and these men are slandered.
| The Cashier ofihc Burlington Bank under
| date of the 10th of March, 1886, writes TO
! Whitney--"Thc Mechanics and Farmers
| Bank is making movement to obtain the
! payment of pensions" &c. .s.S* at was char
\ tered 10 take the place of the branch here, ,ant
| is under tho direction Of those who were thu
! managers Of the branch-ibe same Casbie
! and occupies the same house. Those gen
! IHtmen haze not gel. forgotten their notification
an hoping The business orths Government tnke'
from them, and probably feel no htle desire TO
ret,ieve their characters ipossijie."
i To which Mr.. Whitney replies, under date
of the 18th of March, 1861 called upon
the Secretary of the Treasury, and went to
the commissioner Of pensions and can assure
you that you have not any thing to fear from
the efforts of your neghbors. No other bank
rW be employed by either department, unless
compelled TO do so by The legislation Of Com
greSs."
But these Burlington n,orCedur are nothing
in comparison with the fiscal diplomacy Of the
Seventh Ward Bank, of this city. OF all sy.
cophancy-of all fawning, cringing, and self
abasement before the idol of power, the Sew
erth Ward Bank letters from Walter Brown
g. Co., excel.
| "LIsT, OH, LIST!"
as Hamlet says, to the following letter from
! the Spy in Washington, with its enclosures:
| New YonK, Cd October, 1888.
| The services of the .Sercnh Ward Bank are
respectfully offered to the Hon. the Sccreta-
ry of the Treasury.
The Directors feel much confidence in this
application, being (,oihom erception) as well
as the stockholders, with few erceptions,friends
of the administration.
/ Ii is also respectfully recommended 10 your
notice, that at the time Of the distribution OF
the stock of this institution, the commission.
ers awarded no portion 10 The brokers IN Wall
street. This excited their Indignation against
the bank, and engendcred a resolution lpass-
cd at their board) that they would not deal in
the stock, either directly or indirectly, and
the members ofther board bound themselves
to abide by such resolution, on pain Of ex-
clusion.
.AIna .,rI
consideration for General Jackson, respectful
ly request the secretary to lay this letter be-
fore the President.
(Signed) WALTER BowSE. Prcst.
This short letter establishes three facts,
First That the bank rendered its services
as n poliiical machine Second. That the
commissioners, in distributing the stock, act.
ed as political organs of the party, and distri-
butcd il, "with few exceptions" to political
mart 'zans: and third, but for what reason
know not, that they deemed it "erpedient" to
hold ND 10 General Jackson, in an odious
point of view, she brokers in Hall street.
Who. that reads this letter, will have the
unblushing impudencc to deny, that the de-
posi,c banks, or portion OF them, have been
selected and nre employed by the adminis-
,ration for political purposes'
1 But this letter, with all its sycophancy, did
not operate as speedily rs the victors wished.
"The spos of victory" did not come. No
de?ositcs were made in the Seventh Ward
Bank, and therefore, in conclave dark, it was
decided that a second dose, more disgusting
" fnlscme, should be administered, and nc-
cordingly il was done as follows:
New YORK, 10th Dec. 1883.
! We the subscribers, officers and directors
ofthe Seventh Ward Bank, in the city OF
New York, firra, of Tie administration, and