Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-04-23

doubt not only with view of weakening the
United States Bank, but also with the inten'
tion of placing The control Of the public mo.
ney in the hands OF the Executive to be used
as the Kitchen Cabinet might see fit.
In Ie.!9, while Marlin Van Buren, was Co
vernon of New York, Il law had been passed
compelling all Banks thereafter chartered in
tina, State, to pay an anpual tax OF one hall
per cent, on their capitals, Tor SIX years from
the time of their charter. The fund arising
from this tax was to be placed IN the hands
of the Comptroller, (viz. AGARiAH
FLAGG one Of Tie regency and ~ course an
der MARTIN VAN BUKEN'S controi,) to
be held as security for any losses that Iniell
occur to the public by the sqftyJitnd Banks"
Three commissioners were also required TO
be appointed by law, one by the state, (fhe
albany Regency the other two by the safety
fund Banks, any one of whom could by com
plant to the Chancellor, (viz. REUBEN ii.
WALwoRTn another The regency cause an
Injunction TO be issued against any one or all
Of the conlederaled Banks. This law 1t " III
at once be seen, added greatly to the power
the Urgency" already POSSESSED ever The
Banks, rs before described. 1t Ia probable
that Oh the failure of Martin Van Buren's
plan OF subjugatlng the United States Bank,
II was the intention OF the conspirators to de-
sroy that institution, and then to establish
great National Bank to be located ~ the ci!y
of New York, and to be organized on prlncl-
pies, that would place II as completely under
the control Of the Federal Executive as was
the Regency Bank at Albany, under the con-
troll OF Martin Van Buren,. But owing to the
camor the conspratcrs had been compelled
to raise in every part Of the union against all
National Banks IN order to break down the
existing Bank of the u. States they were
obliged to dispense for the time with the pro-
ect OF sucl, an institution and they probably
concluded to adopt IA system as near that en-
stances would permit.
At the meeting OF Congress in Dec. 1882
that part OF the Presidents message relating
to the safety Of the public dcpositcs and the
charge OF Insolvency against the U. 5. Bank
was taken into consideration by Congress,
and after mature dclibcration, II was decided
that the charges were without foundation and
that the removal of the deposltes was I'M
called !or by vote of lO9 to 16, being more
than two to one against their removal. by
the report of an agent employed 0y the
Treasury department to Investigate the situa-
"
inblllics of the Bank amounted TO H,2W,.
$50, and the fund 10 meet them to Job.
$40, making on excess of S2,i06,y!O."-
The charge of insolvency in the tuce OF such
facts, was too glarlng even to be perseveicd
ln by the desperate characters who had IN.
stigatnd its insertion IN the message OF the
President, and the old charge against the
Bank OF elcctonccrlng was again resor,cd
to, and on this ground it was resolved to
remove the deposItes regardless of the will
of Congress, twice 50 cmphatlcaliy express
sed. 1t was either ri this period Or directly
after the dcpostes were removed, that bro
hcr in New York was employed To nuke the
run on tho Savannah Branch alluded to by
the writer IN previous number. IL was sup
posed at the time that this broker was en-
pIoycd by Amos Kendall, he hoping to find
tins distant branch unprepared to meet call
for heavy amount OF specie, and that by
causing 1t To suspend, general run would
be made by bill holders OIL all the branches
at once, as well us on the mother Bank, and
thus cause the greater part TO suspend and
thereby prove the charge OF the Banks insol
vency, made by the President, to be true
II is hard to conceive Of such tnrpuude ex-
listing in human nature, that for the sake OF
gratifying vibdctiye malice or will for the
of power plot should be con-
ceIved aud acted upon, the success of which
would cause rum TO thousands Of innocent
persons, and produce Il universal stagna,loE
of business throughout the Unon. Bat from
a close observation of the policy and meas.
ures that have been pursued, the writer is
that History bears record Of but
few men so corrupt aud desperate in then
as ever having existed IN any age
or country, as are those who have ruled the
dcstnles OF tins country since the elevation
Of Andrew Jackson to the Presidency. With
regard to the plot to break the Savannah
branch, the writer has been informed that
he broker employed had collected about 300,
100 dolls. oi ;he bills of the Savannah branch
Maurice Robinson of the branch bank in n.
York, became aware Of the sudden dlsap
)caruncc OF the bills from circulation, and
gave MIR. BlddIc notice of 1.-THE Directors
we'll knowing the unprlncipled characters
who were seeking the destruction of the u.
States Bank, suspected something wrong,
and Immediately despatched Il large amount
Jt specie To the branch IN Savannah, which
had scarcely arrived before the bills were
presented and the specie demanded for
hem. IL Is said the miscrcant who present.
ID them ilhdlny the attempt to break the
branch had lallod, begged to be allowed to
axe The bills back winch request was how
,ver denied him. The friends of the admin.
stratlon, to hide the baseness of this trans.
,cton, stated the specie was wanted for the
purpose of establishing Bank IN Georgia.
The whole circumstance Of the case, how
,ver, proved the ialschood ,ol this pretence.-
This same broker is the mau that Martin Van
Buren, rewarded with loan Of 10000 dol
ars, taken from the Custom House in New
I ork some months since. Whether Martin
Van Buren, was himself accommodated with
! loan in return To be used iD his spccula.
ions at Oswego, or elsewhere, the writer
loes not know, bat he was informed some
inc since in New York, that during his
Martin Van Buren's) clectIoncering tour the
asst summer, he vas Closctcd for the con.
adorable part of a night u; the Globe Hotel, 4
II that city, but for what purpose the writer
: not Inlurncd--but he will venture tn say
hat the words past serrices, were Thought
y, IT not used IN the course of their night 3
On the 1th of March, 1882, Gen. Jackson
vas installed for the second term in the Pre-.
identia chair and on the sixth of the June
blowing, he left Washington in company
With Martin Van Buren, then Vice President.
md others on a tour through the Northern
nd Eastern States. Mr.. M'Lnnc, then Sec
c,ary Of the Treasury, refused TO become a