Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-04-20

POLITICAL.
. 7-CII q DISCLOSURES ~


POLITICAL.
-Tur AIyFI7I- q DISCLOSURES ~
Tbe awful disc relative to the United States
made bv the late report Of the investigating Com
mitee have naturally enough created deal OF ex.
element in the community. The effect abroad Will
be electrical. The friends oil the Dank may coun-
terfeit contempt and refuse to credit the serious
baroes brought against the managers of the nsti
,n,;oo but with an array of such astounding facts
before them the truth will gradually insinuae itself
and make the more permanent impression. The gen.
,lauen whose names have been Familiarity and fire.
onenlv introduced into the report terribly dis
tnrbed Bevan and Humphreys, Dunlap, A. q. Jau-
don and Nicholas Bidde, have all favored the public
with explanations p" tending 10 show, not that the
Rank is any better than it is described to be-not that II
has been engaged in the most y'llanous
not that has not squandered the money OF the WI.
dow and orphan the most extravagant schemes and
visionary uations-n0 that it has not been IN the
hands of the spipelayers, and lavlshed It's millions TO
purchase the election of Federal AdmnstratIon-but
that then are the most viruous OF men, and the most
injured of citizens That every thing they have done
has been marked with extraordinary degree OF hon
esty; and that the half millions they Individually aPPro-
prated were ultimately expended for the benefit OF the
Bank and the community.
Mr. Biddes second letter. as pointing out Inc causes
Of the present humiliang position OF the Bank, IS
worthy Of notice Soon after the late resumption OF
specie payments the Bank felt that its course could not
be maintained and that it must suspend BY the state
ment of Mr. Cowperhwaite, the directors were anx'
ions howe yer that the storm should first fall on Sto
York To effect this was attempted, by the
sale To an immense amount of foreign exchange Ex-
change on Paris was in demand-that 49, people wanted
TO transmit money to Paris, and therefore greedily
bought at premium bills payable IN that city. Ac-
cordngly large OF exchange were sent 10 new
York and sold without limit, although the bank had
not dollar in The Aands Of its foreign agents Here
was downright knayery. A large book full of bills,
signed in blank, was sent on, and soon exhausted AP-
plication was then made TO the Agent OF the Paris
House at New York, who drew also considerable
amount besides The proceeds Of these sales created
immense balances against the New York Banks, but
they stood admirably; and Notwithstanding the des-
perae efforts of the IT, S. Bank, the whole trick failed
in its contemplated effects.
Now came the result of such measures upon this in
sttuton itself The bills of exchange had not been
provided for, nor even regularly advised j. e. the
Messrs Hottnguers of Paris, upon whom the bills had
been drawn, had not been supplied with funds to pay
them when they BECAME due, nor had they even been
informed that the Bank about TO draw upon them
for such amount OF course the bills were protest.
3D. This at once struck death-blow at the foreign
credit of the Bank and disgraced in the eyes of all
Europe. Courses, says an Arabian proverb, are
like Young chlckens-they always come home to roost
So it is sometimes with financial and other schemes.
The trick planned by the Bank recolled and injured
none but itself It's attempt to bring down the New
York banks resulted only its destruction. The
gun was overchargedl and bursting contrived to kill
its owner. Mr. Jaudon, who then in Europe, in
order to sustain the Bank and protect its drafts, ncgo
cated loans at sacrifice and pledged stocks
in every direction. These stocks thus locked up,
until depreciation has rendered them almost useless.
The resumption of specie payments next occurred and
we all know what was the consequence.
Mr.. Bidde remarks that such was the vitality Of
the Bank, il might, even crippled as u was have been
revived by proper management. His policy would
have been 10 have made it of necessity more the
nf he d..
mnistraton. This he thinks could have been effected.
Then he would have recommended the Bank TO
pause until it appeared what relief the new Admins
traton was inclined TO afford the country, concurrng
with which, permanent resumption might have been
attempted. He reasons that the Bank was not COM
PEELED TO resume the 10th January with the other
Banks; and cunningly adds, that the Legislature was
in The pocer Of the Banks and could be made 10 do
anything
want 10 borrow 500 600 doars-he
February you borrow it only from usand if lend
you specie payments, we inevitably break
selves. agree that neither shall break. Authorize
pension beyond the 18th January and We will protect the
Isl Of February This would have been wise and easy But IN
stead Of this The banks resued-'hen lent the sOOO-
and then broke down immediately
We need quote no more. The last paragraph clear
" proves what we have always averred that the Bank
ofthe u S. has been the real Governor of syirania
that to some extent it still governs us; and that
the public confidence not withdrawn from it, in conse-
quence of the "awfu disclosures that have been de-
velopng for the last four five years. it would govern
us with an iron sceptre, and make every interest in
the community no matter how important, give why to
its own. We have more to say on this subject but
must defer it until another day.
philadelphia Spirit Of the Times
THE Custom HousE.-The Long .7gony orer.-Pre-
sident Tyler has settled the fate of the thousand and
one applicants for the Custom House in this city. The
spos IRE thus disposed Of in official announcement
in the National Intelligencer Jonathan Roberts, to be
Collector, in the of Calvin Blythe, removed. j.
Washington Tyson, to be Surveyor, vice George w.
Ritter, removed Bella Badger, to be .Naeat Officer, in
the place of John Horn, removed Mr.. Roberts is
from Montgomery county. Collectors salary $4,40O
per annum That of the Surveyor $4,000, and the Ma
val officers $4,000
(Fro7n the ~. j. Standard
The Tnue ho have recently