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


Jackson, and also that an article appeared in
It's columns on the 9Th of April, 1891, advo-
eating the re-charter OF the United States
Bank vi hch, from time to time, was followed
by other articles of the samo character. 1t
also appears that Mr.. Webb was indebted at
thai time to the National and certain other
Banks in the city Of New York to quite n
large amount, and that on the Courier ~ En-
auirer continuing to advocate the re charter
If the u. =. Bank, these banks not only COM
pcliod Mr.. Webb TO pay up all his aceoinmo'
iaiion paper, but refused to discount his bus'
ness pa per as before, giving him distinctly to
understand the reason to be his iriendness
to the u. =. Bank. This statement was fully
corrohorated by the evidence Of two of the
Presidents of the city banks (Al5ert Gallatin
and Mr.. Wright who were summoned by
the committee for the express purpose ot dis
proving Mr.. Webbs statements. Finding
his resources thus cut off, on the ninth OF
August, 1881, Mr.. Webb applied to the U. ).
Bank for loan TO the amount of 10000 dol
lars, and he was furnished with letter oi
Recommendation by Walter Bovine, Mayor
of New York, and formerly director IN the
u. s, Bank, and If the writer mistakes not,
Ia devoted partisan of Andrew Jackson's.-
'
refusal by the New York city banks to the
President Of The U. States Bank,--the securl-
~ offered was com idered satisfactory and the
pnper was discounted, and which, with other
discounts made some months after, amount.
lng IN all to about ~, 200 dollars, has every
dollar been paid "iIow stands Francis i.
3lair's account with the Bnnk--is that paid !:
No. it has been shcwn to he settled by the
,a,,I. 40
doNor--and yet this is the man who has inl
minated l,ore falschoods about tins transac
lon of the Bank, than perhaps any other per
son in The United States, with The exception
OF Kendall and Benton. II the security offer
ed by Mr.. Webb was not sufficient TO war
rant The Bank in loaning the money. what
does Mr.. Blair think OF his own one per- cent
security.
Tho official record also shews that Mr..
Noah WIS about purchasing INTO The Courier
& Enquirer, aud that To raise money for that
purpose ie placed notes IN the hands oi Sllas
f. Burroughs, Il wealthy merchant OF New
York, to the amount Of Sl5,CUO, besides IN
tercst---w no agreed 10 have item discounted
for the interest and "a per cent additional
cum.nssion Tor Observation-Disclosures oi
winch nature are daily and hourly taking
place IN New Yolk. After Mr.. Burroughs
had he'd these notes for some time, II seems
lie himself became in want Of funds, and
mad them discounted at the United States
Bank, by giving some additional collateral
security, and 1t appears by The records that
neither Mr.. Noah or Webb had any knowl-
edge OF these notes being ia the possession
OF the u. 5. Bank until ojler the committee
ofinvosilgalon was appointed. With the eX-
ccpllnn oi tins sum, Webb aud Nouh's loan
Of The bank, amounted 10 but about 5000.
To account for the conduct oi the National
and utIcr Banks IN New York, IN tic bu-
slucss of Webb and Noah, 1t IS sufficient per-
haps ~ state, that the u. $. Bank Stood
much IN their way from the circumstance
that It never received more than d per cent
interest, whereas the Stale Banks OF New
York were allowed to take Oh all paper
discounted by them. And moreover II IN the
event of the u. States Bank not being re.
the dcposltcs Of the public money
would probably be made IN the State Banks,
winch subsequent events proved true, and
this very National Bank complained of by
Mr.. Webb, was selected by Amos Kendall,
f,r HAT purpose.
An attempt was also made to criminate
j
mouy Of Reuben NJ. Whitney, (whu appears
to have been the Titus OaieS Of The Kitchen
CabneU a man well known on tho borders
OF CANADA during the late war with England,
TO which power he had taken II sort OF huy
oath of allegiance, in order to be allowed to
remain in Canada, his business being as 1t Is
said OF such nature that it required him to
divide his time about equally between the u.
States and that provlHce.--Ihis pt0us man
undertook to make charge Of embezzlement
against Mr.. N. BIddle. Tho President Of
the Bank was confronted with Mr.. Whitney,
and declared that every word of Whltncy's
statements were uGtrue-and 1t was alter
" ards proved to be SO by .Gue mitnesses and
also by written evidence. AS a last resort,
Whitney summoned Mr.Wi!son Hunt 10 his
behalf, who so far from confirming Whltney's
statement, manifested great surprise that he
should expect him To corroborate statements
%. which he had never before heard. Mr. j.
-. Adams, who was OF the minority of the
committee, was 80 struck with the manner of
this witness, and the character Of his state
me nts, that he was induce d to ask him, "what
had been his motive for giving the testimony,
and whether IT had been voluntary or soIicl
ted, &c. &C." These questions Whitney
attempted to cvadn by pretending no, to ro-
collect mlether his testimony had been rolunta-
~ or aSked Of him; bat upon being hard
pressed with further questions, he at length
acknowledged tnat he had brought n litter OIL
to Mr.. CLAYToN. the chair
man of the committee from Mr.. BENTON
yes, from Mr.. BENTON member Of the
Kitchen Cabinet, Nat is the rery name given
on the official rccords--and that is probably
enough to reveal tho cloven foot. 1t was by
such means that the Kitchen Cabinet attempt
I'd to destroy the Bank, and to prevent It's
recharter. The representatives, OF the peo.
pie were however at that time sufficiently
free from executive dlctalion to enable them
10 act agrecaly to the dictates of juslIcc,und
he good Of the country, and the rccharter
was granted to the Bank, as before stated,
quickly followed by the Veto Of the Prcs-
lent.
Whatever might have been the object of
he conspiratorS before, 1t was evident that
he destruction of the Bank was now fully
determined upon and the Executive acting
indcr the influence of the Kitchen Cabinet,
was made to illuminate every species Of abuse
lnd iaIschood concerning that ins'Itu,lon--
Fearful that the rccharcr OF the Bank would
'epass both houses of Congress, by two
birds majority at their next session, the
greatest eXertlons were now made 10 prevent
such an event, and among other means used
I was determined To romnve the public de-