Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-05-22

report of the Exchange COMMITTEE OF August >,
| sac. and entered on the minutes OF the Board,
that the Philadelphia and Reading Rail Road Go
had made a contract with Mr. Joseph Cowper-
twane for loan Of S500,000 in h.s individual
capacity, although supposed by the company to
| have been on account of the Bank, TO be CONVEX
ted into sterling bonds al 81 81 per pound sser-
hog. Al the period Of that report, the sum OF
1926, geo ofthis loan had been taken up,ol Which
the Bank was then the holders Of S272,00, and
on that day with the assent of he BoaTdl AS
Sumed the balance unpaid of the contract Up
on the 18th day of August 1888, the Bank guar
anteed conrac, made by Nicholas Bddle n his
individual capacity, for the purchase OF two thou
sand five hundred bonds OF the State Of Missls.
| sippi, Of two thousand dollars each, amounting IN
| the whole TO S5,0O0,000. The signature of Mr.
! Thomas Dunlap, then Second Assistant Cashier,
was affixed to the guarantee on behalf OF the
Bank, upon the verbal authority OF the President.
| Upon tie goth of January 1899, the Bank guar
anteed to the State of Michigan in the punctual
fufment of the obligations Of the Morris Canal
and banking Company, for the purchase otbopds
of that State to the extent of S,l4h,6S7 so, for
S2,700, 900 taken at par, and including interest
on the instruments payable every three months up
to january 1919. On the ooh Of April 1889,
the Bank guaranteed contact entered into by
Mr. Thomas Dunlap IN his individual capacity
for the purchase of one million of dollars Of the
Illinois and Michigan Canal stock In regard
to these transactions, the committee can find no
authority on the minutes OF the Board, and have
been referred to none by the President, upon
whom they actually called for this necessary IN
formation"
The committee find one item of 100000 I'm
der date of June 1870, N relation To which they
could get nc satisfactory explanation, aud ant tn
er Of $6lS640 ! Q paid ont on the "receIpts OF
Mr. n BddIt," of IN BiddIe and j Cowper-
thwate," aud "Cashers vouchers" They called
ON Messrs BJdIe and Comprehensive for an ex.
PLANTATION; but received no reply.
Here are upwards ola MILLION or DOL.
LARS WHOLLY UNACCOuNTED F0B
The general conclusion from these disclosures
is, that me Bank has been for many wears mana.
ged with view to the profit OF It's officers, with
out regard to the interests Of The Stockholders or
the community. Its funds have been taken, moi
in thousands, bn, IN MILLIONS, without The
!
President. Cashier, and ther officers, heir
partners and faroriies, 70 promote fisir speeu
iations, and corer then losses
REAlER, do YOU remember the scenes o
1888, 4, when ANDREW JACKSON was de
nounced as slandeIer becanse hr said the pub
tic MONEYS were not safe in the hands Of these
men, and odiu6ged by "a Wing Senate to be at
usup0' and igrdm because he caused them &c
10 transferred 10 other keepers! DO You remem.
Der the manic, the te.ror and the distress ptodu
ced by the Bank and It's orators in Congress, the
I)nrts Of violence and the attempts to arm ioi
NE r"rr7se Of throwing the put lie money back
INTO this sink OF corTupt,pn! t'f'n 1rGs TighL in
his ol inlnn about this Bank, ANDREW JACh
SON or his relentless persecutorsl Most nola
bic keepers, these, Of the public moneys Think
, YOU thew would not take Uncle Sans money ol
their own uses with little less compunclion thar
that Of tho stockhodersl
Many of the stockholders deserve sympathy
, but not the old and intelligent ones. The very
practices now commented on, which have led &c
the dllapidatlon OF their Bank, were exposed anc
, cqnvassed again and again, 10 1882, 3 and A.
the loans to brokers, loans by the exchange com
mIttee, loans from the drawer, loans from Bid
dies bteechss pocket, interference III poncs,-
, moneys expended without vouchers, false return;
10 the Treasury, and false pteIences by the man
. agers-al were laid before the country. Blu
. the stockholders were lecelyng seven per cent
: dividends! They were IN general devoted Wings
d They wiyuiiy shut Their eyes and Their ears Il
y every thing, however direct and conclusive, which
went to lmpeach the management Of the Bank.
q All was huLza for Nicholas Blddle, the great Fl
: nancier; ana even when the Money Idol cane
. down from the mountain oil llaud which his gen
JUS had created, to avoid being buried in the lava
which he knew ts gathering fires would soon 70
! mil forth, they gave hun A TON or PLATE
in testimony OF their respect! No, we DO not PIT,
9 them. They were wlllully bind; they worship
d ped an idol with the truth before them; they re
il garded not fragrant breaches Of rule aud law St
long as they supposed their own lnIereS: was pro
lected; they looked on calmly while their agents
were buying up with their money editors and pol
. ,tlcans alike cattle in the MARKET" they could am
d ought 10 have checked these awful and mmora
d practices IN the bud; they ought TO have know
! that men who dealt dlslngenuously and dishonest
/ " with the country, would III the end deal dis
i honestly with them; but they heeded not 9Th
wrath to come," and now they must bear II
fires.
], Mlth such developments beiole the American
J, People, are their servants IN Congress about 4
ii force upon them another great Bank Of the Unl
i ted States, and give 1t the public money 10 keep
9 Nothing but madness on corruption can do III
!. utonslYous act, aliel these aud other disclosure
6 which burst upoa Us every day, PROVING TIL
" ROTTENNESS AND INSECURITY Oh
}, THE WHOLE BANKING SYSTEM.
h DEgrRnrY.--"Well, Doctor, = said CLAP suffer
r inc with The tootlache, "how much DO you a
. Tor the Job Guy, but you Nd II quick though
/, "My terms" replied The dentist, "are one dollar
= (" A dol.ar For hall minutes work One dol
y lar! thunder Why doctor down't our plac
IL a faoth lor ms fuu vaaYa agn and II too