Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-25

nally submit the whole matter TO the iudgman," NV
Stockholders and the public.
JOSHUA LIPpIycorr
MOSES KEMPTOy >
CHARLES MASSEY /.
EDWARD COLES.
JOHN BACON,
JAMES S NEWBOIn
Philadelphia, May II, 1e4l
| Mr. DUANE after the above report had hoe,
said that he felt the greater necessity 10 speas ~
submit to the meeting the preamble and resol,
which he held in his hand. lie SAID that his o,,,
the whole banking system as fostered and MAJ.
here, were we'll and widely known, bu, ,ha, /.
not know himself if his nmical feelings 10 n.
ten could prompt him to triumph over Inc !
He would have much preferred 10 have 80.
ed the resolutions to Offering them, but as h.
IT a duty, aud one prompted solely from -.
OF right, tree from an out door influence n .
connivance of cliques, he desired that he NM.
heard calmly He said had had crimlnat,o, .
lrecrmnation, between parties whom We lad ,i
been taught to respect and laok up TO as hone., :
exemplary citizens. If Mr. Biddle had SAID. II - "
Bank" another distinguished individual lad
81 am the Government" it was more the faul, 4
who had made too much Of them by our adula,ior ).
Of themselves. He had never paid court 10 Ell.
these distinguished gentlemen in the heydsy #
popularity, nor was he capable of doing more tia
perious duty required Of him now. lie allutee
quently and most ftengy 10 the defraqdpd =.
holders-among whom were numbered many Zen.
and orphans, aad after fully depicting the nccess,
action The part Of the stockholders, As wrll r.,
furnished credit Of the city as for the wronsel a..
med thousands whose too ccniiding natures lad 4.
them the sport Of the cold charities Of Tie wors l
read the following Preamble and Resolutions. II
with the exception of the last Resolution. were i !
ed, after much discussion and some modification
Whereas, the Stockholders Of the L $ B,,.
PENNSYLVANIA, NJ their meeting in January last =.
red to a Committee the reports then made 10 them
that the Committee have reported that large sun.
money belonging to the stockholders had been ex,.-
ed By their agents for purposes which the Comm n
could not ascertain the nature Of: and whereas n
psnation on this subject has been subsequently, OF.
ed, and color is Thus given to impu,atloLs cast ii
the late and existing Bank Of the L. 5. that lis s
had been used corruptly. And whereas, under ;.
circumstances, entire silence on the part u the s,o
holders would be inconsistent with their regard IA
reputation of their country, and with Their own )
respect-thereforc,
Resoired, That the stake which we have in tic III
and welfare of our country now and hereat,er.
more precious than any personal interest which W.
have in any chartered institution.
Resoired That we denounce and condemn as H., |
to liberty and subvrrsve OF virtue any "Sprattu-s
loan, if any such has been made by the late or eNs.
Bank of the u $ under former admlns,ratior !
the purpose Of influencing the public press, opera
upon the public suffrage, or securing The ald q
tors other public agents for any object whaevci
Resoired, That for the ahe Of the public eAampe
regret that the Committee appointed by the Stock
ers in January last, failed to obtain know ledge i
particulars of the expenditures to which they hare
arred in their report, and that public thanks vii .
rited by those who, possessing the knowledge, =.
disclose it.
[RcSoircd, That in such an inquiry as that who i
had in January, affecting the fame Of tie count,
the safety Of lis institutions, full derelopurH,
truth was higher consideration than the cphtat
interests of individuals and Stockholders and til:
this and other do not concur with The \
jorlty of the investigating Committee in supprrs !
the particulars of the active and suspended debt;
Mr.. Montgomery, previous To the adoption d D
above, offered substitute, but subsequently "u.a 4
Mr. English was DESTROYS that both Mr. Duane.
Mr.. Montgomery $ resolutions should be adopte-
also inquired OF the Chairman Of the lnvestg.
Committee 10 know whether they had made inqu9 B
the Directors of the Bank, as 10 their knowi,t.
hat had become Of the S6lS, 900, which is unacc
ed for. He thought that they might possibly aa.a +
much about it as hr. Bidde.
MIR. Kennedy was in favor Of both propcsi'rt'
abstract 1uestions-but if it supposed that 1T
rectors Of this institution, whose duties alt
arduous, were gong to take upon themselves he
unpleasant Of ierreting out and prosecuting OH,
ers, and Of reforming the present immoral age, et
iiculy Of getting suitable men to act as Drcc
would be greatly increased.
Mr.. Monigomerys resolutions called for the IN
ment Of the delinquent officers of the Bank, and ms.
upon the propriety and necessity Of adopting then
Col. Drayton said he knew that il had been az"
that presses and legiaators had been subs am.
ed by the money of the Bank, and he begged tie
ing TO understand that he neither affirmed nor i. D
these assertions-but he distinctly ayerred tint
thing of the kind had been done since he had
with it, Not a dollar, he decIareG, I
been improperly applied. He held such perez
OF the money u o;hors breach Of con@t-
and of which lie could not be guilty. ~ 70 IT,
cusaons that legal action had not been inst
against delinquen,s, the Committee were b.
vous resolutions authorized TO do, Colonel Dr.
stated that Geyera suits had been commenced,
the best legal aid had been retained, and that I
the determination 10 prosecute in every case prac
BILE.
Mr.. Duane said he trusted that his resolutions I
receive action in legislative order. He SAID he
mated no man--but could any one doubt, ,h2 q
large sums which had been expended and which II
missing had been employed worthy Objects ~
some clue could not be had Of them He u
should be done to ascertain If cor!ug Z
tees had not crept into the Bank and TO tct.e.
those who practised them. E
MIR. Kennedy wished reason furnished for The II
cation Of the particulars OF The active and susie h
debt. lie did not believe that any public atysa'
would result from il, and he thought il would p'a"
great pecuniary LOGS 10 the Bank He sad, to0
that he was not g wounded pigeon" As
lie had nothing to do with the susqt
debt. except rs u stakeholder of the Bank
Mr.. Duane said that he wanted the pabiga,..
an example, 10 check The wild speculations tn,
run like wildEre throughout the land, running tie
Try, and sinking in poverty the widow and q
fle believed, he said, lin reply to the auslon 'for
Kennedy, that such things must be expected uatt
that men were born honest, bot were
rupted by yielding to their evil passions am ~
lncre. Sooner than have his name exposed q II
borrower, and 800, 900 debtor, he woult ..
last article of furniture that he possessed to pay
Mr.. Kennedy said, SO far from securing the g.
ton of the suspended debt, il would greatY e'-
ger It's collection
]. Price Wethercll was Of the same opn'6r
feared that the loss wond extend TO other ns'iu'
Josiah Randall was quite vehement against cen.
the Committee, the last resolution proposed 2 IN
The greatest borrowers, lie sad, had slrealE 81
exposed; those that would follow were The a.
fag END, and such being the case, he trusted " N
luton would be rejected. IL
The question then severally taken On q u
luton, and with the preamble was passed a.
stated.
Mr.. Montgomery submitted proposition IL
accounts settled By officers of The Bank with q