Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-07-19
TIE PENSION FUNDS.


transaction between the Treasury Depart
ment and The bank Of the United States,
in relation to the Navy and Privaieer PEN
sion Funds. The latest attempt of the
kind we copy below, from the Journal of
yesterday, which paper has heretofore, on
the strength of this very affair, represented
the government as going on its knees to
Mr.. Nick Biddlc, and begging supply of
funds 10 enable it 20 carry on the public
service
LAcoSIc-'rho following is said TO hayc BEEN
Mr.. Biddlu's reply to tao G ,vvrnal 'nrs humble
application for a loal OIL Mex ems disposed
to waste as fjw words upoa tho a lninistr alton
as possill 1."-Joaraal
BANK CT TaE UsrrEp STarEs }
Nj y ---, 1884,
Hon LEVI WOODBURY.,
Secretary OF the Trolsury
Sn:-Your application h s ben r.c'iv d.
Say whore whan--and TO what AMOUNT, and it
shall BIO really for yoa.
Respectfully, yours, &c.
N. BIDDLE.
President Of the b INK of III, U. s.
The facts in relation TO this matter arc as
follows :-Congress passed an act during
the late war, setting apart portion of the
proceeds OF all prizes captured by the pub
lie and private armed vessels Of the Unite,
States, for the benefit of seamor Disabled
by wounds or casualties dari..s their term
Of service, and Of the w..lows and orphans
OF such as were sam. The management
oi the i'lnd mus set apart was vested in a
-.,oard of Commissioners, of whom the
fsecre.ary ofthe Treasury is always ono. =
] About six hundrcd and fifty thousand dol
lars OF this money was invested in the
stock Of the late Bank Of the United States,
and the dividends arising from it employed
in paying those entitled to PENSIONS
| When the present bank of the United
States was chartered by Pennsylvania, Mr..
Biddle and his board of Directors so man.
aged as to transfer all the debts and proper
ty OF the late bank Of the United States, to
the present bank, which assumed the debts
of the old bank. The late bank of the
United States now pays no dividends, and
the new one has refused, until very lately
to pay either the principal Of the Navy and
Prlvateer Pension Funds, or the interest
justly due on them. by this unjust course
the poor widows and children dependent
on these Funds, procured by the life blood
OF their husbands and fathers, have been
deprived of their daily bread, and thrown
destitute on the cold charity of selfish
world, while the great money god of the
wings was roting in luxury. The Score.
tary Of the Treasury made repeated de-
mands on Mr.. Biddle for the payment OF
the money, TO all which he turned u deaf
| ear. AT length the cries Of the manned
relics of our glorious naval warfare, and OF
the widows and orphans of the slain,
reached the ears of Mr.. Noah, editor of the
New York Star, and, thinking it fine
chance for an accusation against the ad.
minlstration, he asked the Globe to inform
the public what had become ofihe Pension
Funds, and whether the deposit banks
had swallowed them up, as well as the pub.
lie money. In reply to this question, the
Globe gave full account of the matter,
which placed Mr.. Biddle before the public
in such an unenviable attitude, that he i'm.
mediatcly agreed to pay part of the mo-
ney.
To the disgracelll nature oftho transac.
ton on his part, and desire to conceal it,
must be ascribed the brevity of his epistle
to the Secretary Of the Treasury. Look
at it gentle reader. Not word about the
Pension Funds-not liable as to the
amount due-not hint, from which you
can draw an idea of the real nature of the
transaction. "Just tell me, Mr.. Wood.
bury" says he, show much you want,
when it is 10 be paid, and where it is to be
paid, and it shall be ready ior YOU" Such
conduct on his part was perfectly natural.
Whenever man docs mean act, he
wishes 10 hear as little about it as possible,
and desires to hush up the affair as quick
as he can. The wing papers are so much
afraid that Ar. Biddle's heartlessness in
this affair will injure their cause, that they
are exhausting their invention to m.srep.
resent it. There is no doubt that cd Nick
drew up the letter to the Secretary in as
vague a form as possible, and communica.
ted It to his trusty partisans for the exposes
purpose Of enabling them to mystify the of.
fair as much as possible. 1t is useless la.
Dor, however, for the facts are before the
world.
But Nick was not quite as able to pay as
he pretended. A draft for portion of this
Identical money was drawn OH a bank in
this city, and returned to him unpaid, as
the bank owed him nothing.
Advertiser.