The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-12-07
From the st. louis Republican.
RANK AEFATRS.

t;on Of Mr.. Hans Smith: ''Resolved, that the
President of the Bank of Missouri be required
n Give 10 the committee of examination OF the
nj, of Missouri all the correspondence thai
nav have been receive from foregn bankers
On The subiectof the sale of the State Bonds.
s.In snpDort of his resolution Mr. Smith stat
Cd that since the committee had lett st. LOUIS
tbev had understood that offers had been made
for the purchase OF the State Bonds IN the eVen'
IF Yarrison's election to the Presidency. AS
tbe committee desired TO make an immediate
report. and believed this correspondence miSh'
throw light on the subject OF their investigation,
b S,s'G boneS tbe resolution would be adopted.
mSdme member suggested that this PROPOSE
too was premature, as the the House had not
heen Informed of the organization of the Sen
ate.
saIr Hans Smith remarked that there could
he no valid objection to the resolution from this
source. That the correspondence alluded to
! had taken place was certain. The President oil
the Bank had informed him that such letters
were in his possession. They had been re-
ceiyed, but could not be communicated by the
! President of the Bank alone without the consent
of the Directory, or the requisitlon OF the
House A rule of the Bank made it the duty
of the President not to disclose any thing con-
nected with the transactions of the Bank, I'M
less the Directors should first authorize II TO
| he done. In the present case, the House alone
was competent to reach the information de-
sired. at least it was only through the House
that the purposes of the committee could be ac-
complished. They wished TO report lmme-
diately, and wanted the letters with that view
The President of the Bank was in town, mad
many of the letters with him, and was ready 10
delivered them upon call OF the House Inc
letters might be innocentln themselVes-tnat
was to be seen-at any rate their production
could do no harm. Their authors might pfooa-
| bly be like many of our own citizens, believing
the success of Harrison certain, and willing 10
make extraYagant offers in contemplation OF
that event There was another matter. There
had been ample reason from other sources TO
believe that the influence of British money had
been brought 10 bear on our domestic elections.
That had been denied. We now have the evl-
dence TO prove it, said Mr.. Smith. The proof
can be Immediately put in our hands, by call
of the House, and he hoped the call would be
promptly made.
"Mr Wood of Clay, said he had no obJec'
ton to the passage Of thei resolution oHt
thoughtit premature, as the Senate was not yea
organized. He moved to lay it on the table
s'Mr. Young, then, with his usual eloquence
and perspicuity, entered into discourse about
white washing, &c, and resumed his seat,
ssNfr. Smith explained the course of the COM
mittee. They had made minute scrutiny
into the conduct and management OF the Bank.
They had not left a single rumor or charge
against tunexamined. But their plan had been,
on hearing any evil report, 10 investigate 1t
fully. And had they been informed OF the
existence of the correspondence in question,
they would have called on the Directors for
explanations. They did not hear of it, how
ever. until after they had left st. Louis. On
mentioning tito the President of the Bank, he
said that he knew not how the report had got
out, being excluded himself with the Directors,
by strict rule Of the Bank, from revealing 1t.
1t was now certain that the correspondence ex-
isted The committee believed il to be their
duty 10 get possession of the correspondence,
and they were solicitous as public agents to
perform that duty. Some of the letters were
at st. Louis-the rest the President had with
him in the city. The latter could be furnished
at once; and the former sent for. The commit
tee wanted them to guide their own action.
They did not seek TO dictate TO the House. Nor
were these letters necessarily such as ought to
be presented to the House. Oh that the com
nittee would have TO Judge, unless the House
should subsequently demand them ofthe COM
mittee. There were other papers in the same
situation. For example, the Bank OF Missouri
had brought suit against bank in New York.
The papers connected with it in the possession
of the committee were not fit to be published
at this time, as they might be used as evidence
in New York against our Bank
ssOther remarks were made by members, when
the resolution was modified so as 10 require all
the correspondence the President of the Bank
1 I'LL Ialia md lance
as soon as practicable, and adopted without dis
sent"
We believe we understand this move and its
objects Some time ago, if we have been correct
ly informed the London Agents of the Bank,
with whom the States bonds had been deposited,
by President Smith, to sell, wrote to the Bank,
that state sto ks were deprecated and could not
be expected to rise until there was change OF
Administrations. This is the substance OF the
correspondence. The object OF II. Smiths mo-
ton is 20 getthese letters out to enable
| Col. Benten to use them in Washington, in sup
port ofthe char ge, that foreign capitalists were
! attempting to bribe the American people, inter-
| fering with elections, &c. sc. We doubt not
that this correspondence will figure largely in
| Congress this winter. Let every one remember
! that it is between LocolOco Bank and their own
foreign agent Aside from this, we are glad the
correspondence has been drawn out, the people
will now see why it is that the bonds oil Missou-
ri have gone a begging THE market.
But there is another thing about this thatre-
quires explanation. How does happen, that
John Smith, president of the Bank, CARRIES
WITH HIM, when attending to his own private
business. THE RECORDS AND PAPERS OF THE
BANK? Bywhat right does he take from the
/ files of the Bank papers and correspondence,
which, by the rules OF the Directors, he is pro
hibited from exposing, and carry them TO JEFF
ferson City? Is there no iniraction of his Off
cial oath in this? We confess that we are as
founded by the declaration that President
Smith, had in his pockets, at Jefferson, papers
ofthe Banks which he had 10 right to remove
from the rooms of the Bank. Again: Is this
done with the consent and connivance of the
Cashier? Does he tolerate the President 10
take from the Bank, important papers and car
~ them wherever his electioneering tours may
lead him? If so, where is the abstraction 10
stop? What security is there for pspers of any
description in the Bank: If the President, when
he goes on an eTrand of lectioneering for bis