The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1844-01-27

particularly the humble. handy, and honsst nah
ermen, for the profit Of the public Treasury, must
re-suppose that mau 10 be both knsse aud fool.
But without looking into motives, or the absur-
div of the charge, the whole is fabrication
from beginning TO end and the hrs, fisherman
is vet 10 be found who ever received dollar oil
the commonwealth Bank money as stated. Al
the time these bounlies were paid was confined
10 my bed by sickness, and had no pers
aaency in, or knowledge Of, the transaction.
The facts | now state I learned from subse
quent inquiry.
la regard TO Is the land iiaudn The Warren
Association, private company, comprising
among lis share holders gentlemen OF as high
moral worth as any in the city Of Boston, be-
came large debtor 10 the Bank through the un-
authorized agency OF some Of lis officers, who
were also officers of the Bank. was holder TO
the amount OF some twenty odd shares of the
Ave hundred in the stock OF this company. |
was also, if rightly remember, one of the sew
en- directors of the company, but, as Its records
will show, not what may be called a working or
active director. A knowledge of the existence
and extent of this demand was first disclosed TO
The directors and stockholders Of the associa-
ton, on the failure of the Bank The form of
the debt was then in over-dralts, memorandum
checks, and due bills these were soon after put
into notes, with view 10 give them legal and
binding force, as far as the acts Of its officers
could do it, upon the association. | subsequent
ly consented, in conjunction with another, to
hold these notes, amounting 10 $3.50, 900, ioge-
Their with some other securities, amounting in
all TO about $2S0,000, in trust, 10 indemnify The
surelies who had signed the depo,ile bond Of the
Bank TO the United States for the safe keeping
of The public moneys.
In the settlement of this debt, portion of the
land OF the company was transferred, by agree
menl, 10 the Bank apd The United States took
it from the Bank in part payment Of the debt
due the Government. In this arrangement
between the Government and Bank | had
no part; was, however, knowing TO the facts.
thought then, and think now, that il was
good arrangement for the Government, and the
very hes, that could he made; and though the
land has since fallen, yet am fully in the be-
lief, if the Government, who pay no taxes on
| it, and are al no expense in keeping il, will hold
it for years, they will receive all it has cost
them, principal and interest This arrange
ment, learn by The papers before your com
mittee, was sanctioned not only by the law Off
GERS Of The Government al Boston, than whom
for personal integrity, none stand higher, but
was afterwards approved by the Hon. Rufus
Choate, who was retained 10 the case on the re.
commentator of George Bancroft, Esq. then
collccios of the port. Mr.. Choa,e is at present
member of the United States Senate. About
year after this appraissment, when land had
fallen, the Government learn by the papers
before your committee, took rising sixty thou
sand dollars worth more Of land al South Bos-
ton, from other debtors of The Bank, appraised
in like manner as that taken by the Bank from
the W arren Association, and appraised at lirte
less per foot than that; and abou, which no com
plants were ever made because no political
capital could be gathered in that direction.
replied TO the attacks upon the character of
the Warren Association, which were made in
the newspapers, and attempted at that time TO
be covertly sustained by a Legislative commit
tee, as follows:
Having thus disposed Of the very charitable la
bors OF the committee TO aid partisan print in
fixing upon me the imputation of fraud upon the
poor tshernen'-the fishermen themselves make no
such CHARGE will proceed 10 pay my respects TO
them IN another case where they have quite unne
sary and very unfairly made very free use Of nv
name, allude to their investigation into the affairs
Of the Warren Association. Before going further
will here remark that, notwithstanding the obloquy
attempted TO be thrown upon tho Association by the
aud NJ l ilap
single dishonest, dishonorable dsrepulsbIo act
Justly chargeabe upon II. II Is true that debt had
accumulated In its name at the Commonwealth Bank
but not by ITS authority at lis request, for $780,
QUO not for s2C3 600, the committee have falsely
stated. Though this debt was mostly, II not entirely,
created without, the authority Of the Association and
IT does not consider itself legally bound TO pay it, yet
a. IL is believed that those who created II acted from
perfectly honest intentions no attempt, 10 my knowI
edge, has ever been made by the Association to
evade itn
No responsible person, | believe, has ever
attempted to controvert the correctness Of this
statement; and in proof Of its fidelity is the fact
that the Association has since paid all its debts
1t cannot reasonably be supposed that the
persons who appraised this land, who arc in
telligent gentlemen Of high standing in Boston
aud Of spoiless reputation, and who had no in.
terest in any way in it, would have violated
their oa,bs for the benefit Of any one, by false
appraisal and yet If there were any fraud in
the case, of this kind, it could only have been
in this way.
In regard 10 the alleged fraudulent design in
the transfer Of a house before The Bank failed
! will observe that as owned other property
both real and personal, in the city, standing
in my name - hat, owing no one anything,
and not anticipating the failure of the Bank or
any trouble from its complicated concerns
charity might have supposed If common hon