The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-11
Mr.. Nicholas Biddle--His Past and Present
POsitiOn

Mr. Nicholas Biddle--His Past and Present
Position.
The position occupied by Mr.. Biddle, and his IN
huence in this country and over the civilized world,
has been the most remarkable and striking that has
ever been known in the annals OF this any other
country, and his history has been the same.
When MIR. Biddle first became President OF the
Bank of the United States, he was man OF high
honor, sound morality, untarnished reputation, and
unlimited credit. His Judgment was never ques-
tioned-his word was law-and his will was like
the laws OF the Modes and Persans, TO those VINO
were associated with him in the bank-they altered
it not. Aud up to the time that he and Gen. Jack
son quarreled, ne conductedlthe bank upon sound
and wholesome principles with inscriptions fideli'
ty to the talent and in
tegrity and obtained for reputation both at home
and abroad, which no institution of the kind ever
enjoyed before in this or any other country, or ever
will again.
But in the year 1929 the tempter entered the IN
stuon over which Mr.. Biddle presided, in the
shape ola politician, his prototype entered the
garden Of Eden, in the shape of serpent. Then 1t
was that, under political influence, working on the
fears of Mr. Bddle in relation 10 the re-charter OF
the bank, began that system Of political loans, and
loans to all sorts OF persons without character Gre
dit, or capital which ultimately resulted in the down
fall of the bank and the ruin Of its stockholders
And these loans, TOO, were granted under the mis-
taken idea of obtaining political influence thereby
to operate favoraby in respect to the application tor
re-charter OF the bank.
The first &C, Of this kind of any magnitude that
startled the countrywas loan made at different times
to the amount of Ss52 900 to James Watson Webb,
and Mordecai M. Noah, propretors ofthe ''Courier
and Enquirer" as appears by the records and jour
mails of Congress. Immediately after this other news
paper editors, politicians and political loafers and
drummers, and hangers.on of every. political grade,
thought that they were also entitled slice of the
bank loans, and they also made application; frs +
from one city and then from another, and then from
State after another they all came tumbng in to
the vaults Of the bank, with open hands and empty
pockets. but were "sent not empty away" Mr..
Biddle Immediately became the Magnus Apollo Of
these people-he was courted, Hattered, followed,
sought, and sued-invited here, there and every.
where-greeted feted, Toasted, toasted, and lauded,
until the very air was rank with the fusome fattery
that these creatures heaped upon him. He was Gle
waited by them, in their shallow imaginatons, ''but
little lower than the angels as all who remem.
Der his celebrated Wall street visit, TO "saye this
Guy, Can LCdulIJ IcIHcIlp0i.
Now-let US see how the case stands! Mr. Bid.
die has assisted all these politicians TO an enormous
extent. There is hardly politician in the wing
ranks, be he big or little, that has not had loan;
wing orator from James Watson Webb, down to
Mordecai NJ. Noah, and all round the compass that
has not put his hand in the purse of the U. S. Bank,
and taken out as much he could get in the way of
loan. And now, when one trouble after another
overtakes him, and each succeeding wave rises
higher and higher, there is not single hand or
voice raised in defence or in favor of this highly
complished, intellectual and high-mindea man, TO
whom they are all indebted. In particular, the
"Courer 81 Enquirer" and the EXPIRES of
this city, have been the recipients of Mr.. Bidde's
bounty and the favors of the U. S. Bank, but not
syllable is uttered by them in defence of their old
friend. No-they have got all they could and now
they would see him follow the Bank to destruction
without raising finger to save him.
There is no doubt that Mr. Biddle has committed
errors-many and great ones; but they have all
followed as a matter Of necessity from his original
enor-and this was his listening to the voice and
council of the politicians as Eve listened TO the
voice of the serpent-by which he like her lost MS
purity and high station The real Punderers of the
United States Bank are the politicians, and if any
one is to be punished, let the axe fall, if possible,
upon their necks. Let those suffer who robbed The
widow and the orphan, in the ruthless that
they did-and who, to advance their own miserable
schemes, took the gold from the vaults OF the bank,
and left nothing but their own valueless in the
place thereof.