Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1845-10-13

pyramid ofpsper. resting upon nsr,ow foundation
olsPecie, was beginning "olier lis fall and that
Suspicion oft ultimate solvency Was very widely dis
sem'na,ed The Consequence was run upon the Bank
Tor che hard" Mr.. Butler Immediately his wits
TO work to slave oil the catastrophe; and the character
Of The means resoried to by him Tor this purpose NAV be
inferred by the following letter to Jesse Hoyt:
SANDY Hint. June 29ih 1919
JrssE How. Esq. u State street, Albany
DEAR HoYr-Ihe enclosed will show You inw the
world ways one Of those persons that tpd you To
wat nni ihef turns came. the young Palroon who
had or 5000 taken for rents due his father
| II you know him-as believe YOU d,-J wish Won
would FALL. IN WITH HIM. and ask hi, opinion
Ihno,o ~H be favorable although Idid not pan him
beeane ne sal ,eiia my counter, aud read The papers,
AND DRANK WINE With ME FOR Two
OR THREE HOURS BEFORE THE BANK
CLOSED, aud saw every nan who had ffom
moments delay
Now, II his opinion is friendly, dare say it will pass
cnTfent AND BE A LEGAL TENDER in your
DUTCH metropolis. aud il rouid anscer for CIRCU-
LAIloN, &e. Let me know how every thing goes
Yours truly. b. F. BUTLER.
Seal and send The enclosed after reading it. II the
loan with Bard was concluded and you en pect the spe-
Gle on Thursday you may perhaps ask Caleb Baker to
stay for II. If not. tell him. that there ,rH moi be
LOAD until next week. HE AND EVERY BODY
ELSE thinks ihavc TONS OF II on The ray
The Young PATRON" spoken of above, whom Mr.
Butler so successfully dddied. is Mr. Van Rensselaer,
In the foregoing letter deliberate fraud is avowed
which Mr. Butler seeks 10 render more effective tbroucb
The rsrumenaliiy of his vc,im-mak:np him whom
he had deceived tho agent of imposing upon other hold.
ers ct the notes Of his nsovent Bank Mr. Ioy. too.
under the instructions Of Mr. Butler was at the sam.
ime aiding IN the imposlon by publishing in the
city papers articles intended 10 aay public apprehension
as TO the solvency Of the institution by unqualified decla
raiions purporng be derived from the most anthems
tic source, of lis ability to pay-and by making them be
eve that lions" of gold and silver were on the way TO
The Bank. when in truth but a small supply was ex~
peced The result was the failure of the Bank DURING
the next yeariis notes gradually deprecialng in the
market, until they became indeed as worthless as any
ever issued by Locofoco "Rag Baron" either in New
York, Mississippi or Arkansas
II Is remarkable that, at the very moment that Mr. b
+. Butler engaged this deliberate fraud upon the
holders Of the notes of the Bank Of which he was the
President he was engaged in writing ''moral" homes
10 Mr.. lloyt-ug ing him to engage in secular pur-
suits on the Sabbahregretling the wan Of the stated
preaching Of the gospel" at Sandy Ill., the town in
which the Bank was located and grea, deal more in
the same strain, which we deem it unnecessary to
quote.
friend OF ours, on reading this singular exposition OF
pleiy and finance" expresses his SURPRISE that, when
the Democratic Review, which has recently published
biography of Mr. Is. +. Butler, deduced his peneaopy
from the era Of the civil in Scotland for the pur-
pose OF proving his hereditary republcansm did not
Also alTm his direct decent from that Jealous Cove
nan'er, whom Sir Walter Scott mmo rlalzes as "Biblt
bu''er,' to establish also his pa,rmonal picy TIL,
internal evidences friend thinks unques,ionable
The identity of the pa,ronymc is strong crcnmsanc,
ndublably-and the peculiar sancii,y of his style mus
have descended upon him as an heir,oom. We admit
indeed that the carna detection self seeking and falling
OIL developed In the curious combination of finance an,
anatcism which Mackenzie has presented to the public
would oe dcnlt reconcile with the stern petv Of the
h'l side folk the compatros of Dave Deans of Pc.
Walker the packman but then it must be remembered
tina, the Scottish Covenaners did not come into conac
WIN the poisonous atmosphere of Banks" which s.
disordered their usrious descendants "moa" percep
ons, and doubtless rendered him unable to reason clear
y in reference to his duty towards the public, hen III,
interests of the Bank. which paid him well, were a
stake! AT all events shall contend for the aulhenti
city OF Mr. Buffers pedigree. and insist upon the di
~ OF his claim to the expressive soubrquet of his illus
lrous progenitor and namesake!
From the foregoing exhibition the reader may see how
nsincere are the ocoIoco leaders in their professions
hostility to Banks in general; well how little quail
ed they are to attempt to purify the "poisonous atmos
phere' which they tell u.s. experimentally no doubt, il
/. eneendered by the system. On another occasion WI
shall show that they were equally nsincere in their de
clarallon of hostility .\aono Bank and that at tn
very time when they were engaged in pulling down tn
Philadelphia institution, they preparing the wa
for resuscallng the monster" and for transferring
e to Wall street, New York.
, Rail R.ah.-The American Rail Road Jorrns
states fact, 10 which would call the special aiten
ton OF the Richmond Times II is tLis-that we hav
his mir In. e