The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-29

sury agency in Kentucky and give i 70 another, %
long il wishes TO continue 70 hold " ana - ,ong
have already stated TO you, that am determined
ooponcnt 70 Increasing the number oil the Deposite
Bssks unnecessarily. will now 60 farther ana state
that think the deposiie system should DC kept enurey
aoof ron politlcs--thst there should DC perfect TO-
ciproci,y between the Government and the Deposite
Banks upon this subecithst while the latter should
rpidly require from all The Depose Banks 10 abb
stain from meddlng with politics parties in any way,
it should be equally scrupolous in keeping itself dis
connected entirely with those banks excepting for iis
fiscal operations consider il would be derogatory 10
lis character 10 PERM, the public money to be employ
ed in building up new banks in establishing the cre-
dit OF those already In existence. Equally detrimental
TO the whole system would consider 10 be, II banks
should at any time. be selected, when not called for
for the convenience Of the fiscal operations OF the Irea
suy and in any way connected with the promotion of
personal popularity or individual ambition wish you
to understand these remarks TO be general only
make them tell you the principles Of conducting the
depos;e system upon which am willing 70 stand or
fall with Il.
have no doubt but tho Northern Bank OF Kentucky
can make most beneficial arrangements with the Louis
vile Savings Institution 70 pay the pensions in that
part Of the State, and have most liberal deposite left
with it to compensate for the trouble and expense
Nearly all OF the Deposite Banks have agreed TO re-
engagements TO redeem the in New York or Phila-
dephia from the Receivers OF Public Money: and If
the N B. Of Kentucky viii make such arrangements,
there is no doubt il will derive all the advantages incl
dent TO such receipt.
beg to assure you Of my readiness ever to do any
thing In my power, consistent with my principles 10
promote your interest or crafty your wishes
Very truly, your friend and obedsnt servant.
Il, M. w.
F. P. BLAIR, Esq.
P.S. Please return the accompanying documents.
Il will be seen that told him very emphaticaliy
nv views as TO the manner In which thought the
system ought TO be conducted and not less emphati-
caiy did Itell him that condemned any action con-
nected with it, which had in view to promote per-
sonal popularity or .ndipidnal ambition" As the
bank itself had said, the only object il had in view
was that It's notes might become Land Office Mo-
new made the suggestion, that by arranging to
have them redeemed in New York OF Philadelphia,
as many others had DONE they would become So This
letter was shown to the Secretary Of the Treasury
before il was sent to Mr. Blair. With these facts
leave this part of the subject.
The editor of the Globe concludes his article with
the following:
although not a proud patreian,' we feel an ho-
nest pride in which promises moderate in
dependence for the decline Of life We proud that
not "a beggar,' nor "a public panpsr, as Mr..
Whitney calls US, and ought have known. because,
if it had been so. bonds to the amount Of UPWARDS
Of twenty thousand dollars security for him special
BAIL and for the prison bounds TO keep him Of Jail,
would have beon considered sufficient by his per-
scouting Wing creditors"
II is true, the editor Of the Globe did become my
bail but is not true that he did 50 to The amoant Of
$4,000. hope however that feel all the gratitude,
ought to for the favor under all the circumstances
Thought then as ! now think that the obligation
would not have been more than reciprocal had all
that asked been promptly granted. But for the
facts.
In the month of September, 1885, Blair g. Rives
became sponsors for me in the sum Of five thousand
dollars. In Janury, 1887, F. P. Blair became
special bail in the sum Of S., 7OO-making
in all $40, 700-instead Of upwards of twenty
thousand dollars" There are some circumstances
not generally known which require to be told
On the Goth Of Janury, 1887, while before the in
vestigating committee, receiving the blows aimed
the President under whose popularity" the edi-
Of the Globe says he has risen 10 opulence, re-
ceived message tina, must enter bail that day in
the case in question, as the court might adjourn
over l Obtained from the committee leave Of ab-
sence for an hour, Gas their Journal shows and went
to Mr. Blair who promised me he would go imme-
diately and enter his name. In the evening Of the
same day received note in which he declined
doing so, but proposed | should get two ether
friends to unite with him" MY brother who was
then here, proposed to give him an indemnilying
bond, which was perfectly acceptable. In drawing
up that bond however, which was done by lawyer,
in due legal FORM Mr.. Blair required that both sums
should be included that which Blair g. Rives had
become surety for, and that which F. p Blair was
about to do, and which he did after the bond had
been duly executed.
The proceedings Of the investigating committee
laid all these security affairs, as well other
Germs of mine through the report Of the minority be-
fore thepubc. They became the subject Of newspaper
comment. One Of them called forth the following,
Reproduction Of Mr. Blair himself which appeared
in the Globe Of the 18th March, 1887:
FEDERAL. PERSECUTION.
The following is from the New York Express:
g. reuben NJ WHrNEy.-A transcript from the
record Of the Cour, in the District Of Columbia, shows
that IL suits have been brought against Whitney in that
court to aggregate debt of nearly $4,000.
Judgment has actually been obtained in several Of these
suits, the return Of which is released on prison
bounds, F. P. Blair and J. c. Rives editors Of the
Globc,) securities on the bond and special bail
Since the Bddle pack have been unkenneled to hunt
down MI Whitney, all the mercantile malice that the
bank president could stir up, has been brought to aid
the political racor which has, during the winter,
vulsed Congress to harrass this humble individual MIR.
whitney was once merchant we understand Of great
distinction IN Philadelphia He had great ventures at
sea- accumulated considerable fortune director
Of the Bank Of the United States and stood confessed
y among the FIRST from the grade Of his intellect his ge-
neral information, and his mercantile skill and nte-
gence. With Mr.. Biddle Gas appears from Of his
letters lately pubished) he was all in all-agent--
counselorand friend Even after he left the service
Of the bank. appears that Mr. Biddlc placed at the
irresponsible discretion OF Mr. Whitney, hundreds Of
thousands Of the banks money But it seems that Mr.