Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-01-24

REUBEN NJ. WHITNEY. This gentleman
has been made quite notorious by the
speeches of Wise and others in Congress,
who have attributed to him not a little Of
the honor and glory of the various attempts
for a few years to tinker the currency
His true character is now revealed Just
as Congress had passed a resolution of
inquiry relative.to the business of this man
with the government, and the Treasury de-
partment especially, Circular, addressed
by him to the deposite (alias PED banks on
the 7th of last December, appeared in one
of the Philadelphia papers. Mr. Whitney
there says he is employed by the banks to
attend to their interests at Washington
and hence considers it his duty to direct
the course to be pursued, thus:
alt is my intention 10 exert myself TO
have substitute al the present session for
the law OF the last session, free ofobjections,
and also 10 obtain repeal OF that part of
the latter requiring the payment of interest
by the Deposite Banks, both retrospectively
and prospectvely.
Ii will aid me much if the Directors OF
the various banks TO whom send this, will
address letters to such members Of each
House as they may he acquainted with, i'm
pressing upon them the onerous duties
which have been performed by the Deposite
Banks, the injustice done many of them by
The eXacton Of interest as the law is now
construed, and the magnanmity which
Congress would display by total relin-
punishment Of interest altogether, both past
and for the future !!l!l]
Another argument might be employed,
but it would be impolitc TO make use of il
with members, which is this: that as soon
as the sum in the Treasury comes to be re-
duced by the operation of the Deposite
Law, the Banks which win be continued
will hardly find it an object TO subject them
selves TO the expense of acting as fscal a.
gents for the use of the small sum which
each can have, even without paying any
interest whatever. Before the close OF next
year, we must 90 back to as small mum.
Der OF Deposite Banks. as were emploved
prior to the passage of the Depos,e Act
consequently, with but few exceptions, the
as they were. A this part Of The subjec,
had better be promulgated here it is my
intention speedily to commence upon that
subject; first, by enhghtenlng Congress in
relation 10 tie facts, Of which | am sure
Hioot VI INC lntHlpcTS are ignorant, ana
then 10 proceed 10 carry through my object;
and | hope ] may receive all the support
possible from those Immediately Interested,
in the way have pointed out.
shall send this communication 10 very
few ollhe Banks not Of the original seIec-
ton, and | trust that all 10 whom ! do send
it will view il as one not TO he maze publ,
though moi marked confidential.
Permit me 10 say, that no ,inIe should
be lost in adopting such measures as may
be considered eXpedienl."
or course this unexpected development
produced quite sensation at Washington;
nota few Of Reuben's political friends are
quite wrathy at the intimation that he had
taken upon himself the high office of en-
tightening the collected wisdom of the land.
To be sure it is rather a left handed com
pment but after all, not entirely unde-
served; the majority Of the present Con-
gress which has thus far countenanced
the pet bank scheme, and is even now not
disposed to Withdraw its support, should
be the last to complain of Reuben at this
Juncture; they have thus far acted more
or less upon his advice, and it is us incon-
sstent to scorn his prollered counsel now,
as 1t IS ungenerous TO make him the scape-
goat for the sins of the party.