Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1839-04-04
Correspondence Of the New York Express.

| JlIIADEIPHlA, muTCu ~, Io.'''
Mr.. Biddle resigned his appointment
as President of the Bank of the United
States this morning, and the board o.
Dire ctors unanimouly elected Thomas
Dunlap to fill the vacancy. Mr.. Dun.
lap has served as Cashier since Mr.
Jaudan went to England. The Phila-
dclphians were taken by surprise, ant
the ncwsmongors Immediately set thcil
wits to work TO conjurc up reasons for
the motives that led to the resignation.
Mr.. Forsyth has been here several
days, and has dincd with Mr.. Biddlc,
and it is said he has been closeted with
him at different times. One report is,
that Mr.. Biddle will be appointed Envoy
Extraordinary to England; another is
that he is to take charge of the Treasu-
ry, to untangle its concerns; and anoth-
cr is, that he will superscdc Mr.. Forsyth
in the Stute Department. Many 9th
or reasons are assigned. When Mr..
Biddle accepted the Presidency under
the new charter, he expressly stated,
that he would hold it no longer than the
bank should be free from embarrass-
mcnts, and be under successful opera
ton. He thinks that time has arrived
Specie payment has been resumed; and
the Legislature of Pennsylvania has
taken recess. without adopting any
rash measures against this bank. Mr..
Biddle will probably visit Europe dur
ing the summer, and it may be, that he
will accomplish some important fnan-
ciaI operation.
The following are the important pro-
ccedings Of the Board Of directors Of
the Bank of the U. S. at their meeting
yesterday:
ITO he Board Of Directors Of the
Bank oCihe United States
"GENTLEMEN,--IcX execute n purpose,
which, as you arc aware, l have long
mcdiiatcd, aud which | intimatcd to the
stockholders at their first meeting un-
der the new charter:-that Of retiring
from tho direction 'of the Bank. 1t is
now more than twenty years since ]
entered the service. They have been
years of intense labor, and they have
earned for me a right to claim the re-
taxation and rcposc which approaching
age and prccarious health require. j
have waited anxiously for the most ap-
propriate moment at which | could be
best spared; but hitherto, whenever |
have sought the retirement so much
needed, some difficulty i'm which my
service was deemed useful, always in
tcrposcd to dctan me. None such cx-
lists now. All the political dissensions
connected with the Bank for the last ten
years have ceascd-nll its extraordina-
ry efforts for the protection Of our ma
tional interests arc happily cndcd-and
the Bank has returned to IFS accustom-
cd channels of business in peace. ]
can therefore withdraw Mt length with
out Inconvenience, and do it more
readily. because ] leave tho affairs oi
the institution in n state Of great pros
pcrity, and in the hands Of able direct
ors and officers.
"I'his separation from friends with
whom | have been so long and 50
agrceably associated, is among the most
painful acts Of my life; and ] pray you
to accept at parting my sincere wishes
for the personal welfare Of you all.
an. BIDDLE, President.
"Phiiodeiphio, March 80, 1880"
Tho foregoing letter having been
Tread, the following resolution, embody-