Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1838-05-02
From the New York Commercial Adser,..er
LETTER NO 4.
TO Martin Van Burcn,
PRESIDENT OF THE UNITED STATES.


the point Of time when your efforts to
get possession of the Bank, by the re-
moval of its officers, and the appoint
ment Of your chosen instruments in
their places, had failed. omitted to
recall to your recollection that act of
the Bank which rendered your pros
poets, in that quarter, hopeless It was
the following :--'Belonging to the ma
ton, (said Mr.. Biddle in his letter to
Mr.. Ingham of the 18th July, 1922 }
and feeling that its prosperity and its
usefulness are destroyed the moment it
loses its independence, the Bank owes
allegiance to no party, and will submit
to none" This may be taken now, as
it was then, as proof that Mr.. Biddlc
understood your game. You can never
forget, | am sure, the excitement which
this short but manly declaration occa-
stoned among you at Washington, or
the absolute rage into which it threw
your great patron. But it served only
to make more desperate your purpose
to destroy the Bank. You must not
forget that you had no just claims upon
the people for the high Office of Presi-
dent, and that in order to take ground,
you would have to make ground. This,
as have recalled to your recollection,
in my last, could be done only by throw
ing the whole government into confusion,
and profting by the arrangements that
must Of course and did follow. If you
had succeeded in your first attempt to
get possession Of the Bank, it would
have secured your ends as well, but
then those who were in attendance up
on your bidding would have lost much
of the "spoils, which were destined to
follow the Bank 9 rude overthrow. BY
the first plan you could, in a more qui-
ct and apparently reputable way, have
employed the public treasure for the
promotion of your unhallowed object,
and made it answer all your purposes /;
but in resolving upon the last, you
threw wide open the door for general
scramble, arising out of the prostrated
trade and commerce of the country
the bare prospect of which was suiii-
cient to bring to your support all who
could, like yourself, look upon n scene
Of widespread ruin, regardless of the
sulferings of the people provided place,
and profit, and power, and party, were
secured by it.
The destruction of the Bank having
been now resolved on, your daily busi-
ness was to infuse into Gen. Jackson
whatever was most combustible, and
would tend most directly to make him
hate personally "Nick Biddle"-just as
you had previously secured his hatred
against Mr.. Calhoun. In this you sue
cceded. You very well knew that from
the conception of this. hatred, to the
consummation ofyour object you would
find in him all that was reckless, and
should any desperate act be required to
complete your designs, you well knew
that it would be committed on his own
responsibility.
Between the date Of Mr.. Biddle's let
ter of July 1929, and the December fol-
lowing, nothing was publicly DONE
| The plan Of operations was, however
guardcdly laid Its first development
was indicated in President Jackson s
message of December 1899. Prior to
this, and before the Bank refused to
become your instrument by allowing its
officers to Dc turned out to make room
for yours, all was harmony between
that Institution and the governme -
Indeed, as | have shown in my second
letter, the government culogiZedit, and
commended its great utility, in terms as
strong as they were true. But the time
had come when all these testimonials
were to be treated as nullitics or worse.
Caution was necessary in the begin
ming. Well, let us see how the war
that in the end became so ruinous was
begun. The message Of 1929 saws
"The charter Of the Bank Of the Uni
ted States expires in 1896, and its stock
holders will most probably apply for a
renewal of their privileges. In order
to avoid the evils resulting from pre-
cipitancy, in q measure involving such
important principles, and such deep Pc
cuniary interests, feel that | cannot,
in justice to the parties interested, too
soon present it to the consideration of
the Legislature and the people. Both
the consttutionality and the expedien-
cy ofthe law creating this Bank, are
well questioned by large portion of
our fellow citizens, and it must be ad-
mitted by all. that it has failed IN the
end of establishing uniform and sound
currency"
/ The reflections that arise naturally
out of this quotation, are
lst. Upon the time that was to
elapse between this onset and the ex-
pration OF the Banks charter-say
seren years
Cd. The exception taken to its con-
stitutionality and cxpediency.
Sd. The unblushing falsehood, which
charges the Bank with having failed in
the great end Of establishing a uniform
and sound currency.
The object Of the first, as you very
well know, was to give to /" the party
the more time to sap and nine the
Bank. The second was to enlist the
ancient preiudices ofcertain sections OF
our country; and the last was an opcr
and undisguised insult to every intclli-
gent man in the country-for you know
as did every one else, that so far from