The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-04


until recently. His destructive measures and
Sub treasury system. as will be seen, has
driven il from giving him any farther support.
In the course il has adopted, we are gratifed
to learn, il is strongly supported in Ohio.
MIR. BIDDLE TRIUMPHANT---THE AID
MINIsTRATION DlsGRACED.
Napoleon never achieved q greater victory
over those against whom he commended than
Mr.. Biddle has over the Administration. AZ
ter the memorable declaration Of "UNcoMpRo-
MISSING HOSTILITY To THE BANK OF THE
UNITED STATES" and carrying it out to the
utmost extent for years, up to near the close
of the last session, by the enactment Of a bill,
Of an Unprecedented, if not an unconstifu-
tional character, calculated deeply to affect the
operations Of the Bank, and throw impede
mems in its way, and threatening Mr. Biddle
with the penitentiary in certain events all
Of sudden, the Administration has wheeled
round, and in the language Of Cesar cried
out /" help me Cassius. or I sink" Itmust and
will amaze the people but let them know the
truth, necessity, dire necessity, that knows no
law, has led to this most remarkable OF all re-
markable events. "Aias poor Yoriek rhere
be your gibes non Z"
The Globe Of Tuesday night last contained
the following
BONDS OF THE UNITED STATES BANK
We learn that the Secretary Of the Treasury has
nfp tho offt ~ Cua Fac fars ha
SALE par OF the bond Of the Pennsy Bank Of
the United States for about two millions, which falls
due in September, 1889. similar offer was made for
the bond payable lS40 but the sale has been defer
red for the present for which, we under
stand, is the uncertainty now whether the money will
be required during the current year.
We were aware that negotiation had been
going on for some time between Mr.. Biddle
and the Secretary Of the Treasury, through
the agency of Charles Macalister, Esq. for
the purchase Of both Of the bonds Of the Bank
Of the United States held by the Government.
We knew that Mr.. Biddle had made an offer
for the purchase Of both Of the bonds. This,
the Secretary held under consideration while
he beat up the market. The agent Of the
MoNEr-KINo" Of Europe was applied to, he
would not negotiate within the limits the law
prescribed for the sale. An effort was made
to form combination Of State Banks to pnr-
chase them distinguished Bank officers came
10 Washington, whether by invitation we
know not); this scheme failed then they
were advertised in open market for bidders;
no bidders coming, then, like Mr.. Van Buren,
to the Nulliiers, "a bitter pill but IL mast be
SWALLOWED" the offer made by Mr.. Biddle, or
as the Globe has it, in capitals. the offer Of
Charles Macalister Esq" was accepted by
the Secretary Of the Treasury.
The United States Gazette, of Tuesday
morning last, contained the following:
I" We find in the National Gazette Of yesterday
afternoon, the suboined paragraph
1t Is rumored that the Bond Of the Bank OF the
United Statues due In 1882 for two millions Of dol
lars, has been sold by the Treasury Department at
par, to Charles Manchester, Esq Of this city
The above rumor, we are happy to say, Is well
founded. The same offer was made for The Bond
due in lS4O for like amount but declined the Sc
cretary of the Treasury not having decided that the
public agencies will require It's sale
/" The purchase, we understand, is for account of
the United States Bank. We also understand that
Mr.. Macalester has effected negotiation by which
the third Bond for TWO MILLIONS OF DOLLARS, will be
quidaled in manner equally acceptable to the Go
vernment and 10 the bank.
This statement carries with it semi-offi-
cial stamp, from one Of the contracting parties,
as much as that taken from the Globe does
from the other.
And what is the arrangement made, by
which the . third Bond for t,co millions Of dol.
lars 1.-THE one due in September next ,uiH be
hquidated IN a manner equally acceptable 10
the Government and the Bank" We under
stand part of the preminaries 10 be this The
Bank places the amount Of the two bonds at
credit Of the Treasurer of the United States,
on its books; it is to make transfers to any
place that may be required on transfer war
rants issued in tho customary form: and it is
to pay out on warrants drawn upon il, in favor
ofpublic creditors as formerly. Thus, in fact,
making NICHOLAS BIDDLE, TIE FINANCIAL
AGENT OF THE GOVERNMENT, for the time
being.
1t was but few days since, the Globe spoke
of Mr.. Bidde's being the "Napolcon of Fl
nance !" he has shown himself to be the Ma
poleon Of War, with the administration
Never was a greater victory achieved, never
more disgraceiul terms and defeat submitted
to.
The Government paying its creditors by
warrants on MIR. Biddle, and in Mr.. Bidde's
bank notes! What will Gen. jackson say oitl
Oh the monster What will Colonel Ben
ton do now for hobby to pour forth his thun-
der against What will our veteran friend Of