The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-02-27

upon careful revision OF the law, found that IL
had expressly reserved in the provso all the re-
sfrictions contained in the law of lS42, and en-
braced in sections and two ! will interrupt
the chain of the narrative for moment In order to
make ppme observations upon the restrictions con
taaeds insihe charter Of the Bank, to which the |
Seef&3ry of State has referred In his report,
and the restrictions contained in the law OF le41,
and particularly referred to in the act OF looo. |
The Secretary OF State has laid great stress upon
the restrictions contained In the charter has IL
ever occurred to that gentleman that the secuohs
containing these restrictions have been fepe@e" oy
| the law OF 1912? He seems, from the whole tenor
of his argument to be totally unaware OF the TACT
But upon careful analysis of the law of lS42, first
section and first paragraph, to mind capable OF
the slightest comprehension, this TACT Will appear
| Let examine and see II this posluon Will pear
| the test of examination
SEE Be it enacted, etc., That the charters OF az the IN
corpoated banks the city Of be- and the ;ame
pss sstsyb pSes ssa fO
lions and contained in said are hereby
Of said banks rsspsevey subject ne limitations and
| provisions hereinafter contained, proptded. etc.
Ii appears then that the restrictions contained in
The charter of the Banks, and all laws aDendatory
hereof, are subject to the Limitations and prom
eions of the law of 1912, and that the law OF
1850, as before stated, has expressly reserved all
the restrictions of said law contained in the first
| and second sections thereof. Now, had time,
| and it would not swell this communication beyond
proper limits could show that the Secretary of
| State has comprehended other portions of the law
| of 1912 equally well.
But TO resume the chain of narrative. After the
| brief argument between Mr. Gayarre and myself
| in the room of the Cashier of the Louisiana State
Bank, we separated. On Saturday morning |
learnt from Mr.. Emile Legendre, Clerk of the
ument Imagined very properly that it related to
the matter in controversy between us the day pre-
vious, and anxious to see it. |, therefore, on
Monday morning, called at the office of the Board
of Currency, and not finding it spread on the min,
utes proceeded to the Customhouse and asked
Mr.. Legendre if Mr.. Gayarre had yet handed him
the paper he was preparing Mr.. Legendre replied
that he had not, but expressed belief that it had
been deposited in the box of the office of the Board
} as Mr. Gayarre had expressed the intention OF
dropping it in there Mr.. Legendre and myself &C
cordingfy went round to the office, but there was
| nothing to be found. An hour afterwards, it ap-
; pears, Mr. Gayarre went to the Cuslomhoase,
proceeded with the Clerk to the office, and there
had spread upon the minutes that mysterious cap
ton that significantly appeared in Italics in his
selected organ and after having said caption thus
spread upon the minutes, walked off with the orr CT
nal in his breeches' pocket, to the Office of the
True Delta Now, how under this state Of facts,
could the Clerk serve copy on me prior to its
publication Mr. Gayarre states, " On Sunday,
the 9th, reduced my reasons to'writing, and early
on Monday, the 10th, repaired 10 the office of the
Board of Currency and told our Clerk that had
II communication to submit to you He answered
that he did not know where to find you. What
Das to be done, SIR E? Why, sir in accordance with
that miserable precedent which you had set, you
should have spread it on the minutes of the Board.
| | This would have been a notification to me, al
least would have had an opportunity of seeing il
before saw it IN the newspapers
But Mr.. Legendre and | had separated only an
hour before, and can any one believe that Mr.. Ls-
gendre failed to inform him that had called, and
was anxious 10 the paper!
e But extraordinary, discourteous and indecor-
Gus as this whole proceeding is, it is not more ex
traordnary than the reasons he assigns for the pub
LEGATION OF this g report" IN the speech he made II
y Nj. Legendre in he Custom-huuse. Read them
lyon now very busy at the Cuslom-house
e The papers and the public have taken hold of this
i affair, without knowing very well on what it turns
It There is good deal of excitement; talk of
y run on the Bank think il will be best in justice
!. to the Bank, God save the mark and to aUay Gp
prehensioas, 10 publish Immediately my report, ant
| show the public that the present Solid,tg of the
% Bank is not questioned, but that nothing but the
right OF the Bank 10 extend its operations under
NJ certain act of 1850 is controverted. As soon as
e my manuscript is published, you will copy it the
record, and in order 10 you the trouble of pre-
pairing another manuscript copy, you will fnrnst
, my colleague with printed He will .her
| nave time 10 state his objections at leisure.''
! In the latter part of this harangue, it will be no
$ | tced, Mr.. Gayaue admits the truth OF my whole
statement about the manner of this publication.
But MIR. dayarre states that his motires for The
publication of his report were 8" TO aiay appre
tensions" and to show the public ,ha, the pres
S eat solidty of the Bank is not questioned
,fl The community will take in connection with TIM
statement of Mr., Gayarre, the following facts: o.
. the evening of the 9Th inst, the Louisiana Coure
| issued with an editorial on the French side calcu
lie lated in eminent degree to arouse "apprehen
tie sions' TO the present solidjiy of the Bank
y After the reasons Mr. Gayarre has assigned TO
the publication of his "Report, will not the com
e munity be astounded to learn that the article of thu
l. S1SsR heJ h,
d Mr. Gayarre himself? The article ITSELF Ito which
the community is respectfully referred) states tina
the information is official semi official. Thi.
article intended as the great precursor of thi.
&c parte document of Mr.. Gayarre's. There were
Z | then no apprehension" existing in the public
mind with regard to "the present solidity of ths
Bank" But some excitement must be created
some approximations aroused, in order that the
community should be tip toe, to receive the Re
, port to be published in the columns of the True
/ Delta-this " Report" that was to alaya pprehen
sions as to the present solldity of the Bank"
| lay before the public the letter of the Hon
o Peter Beverages, in reply to one addressed to hin
: by me
Hon. Geo. C. Nc TFhorters
sIRmln answer to your letter of this date shall state hs
in CusomhouSe street, his the office of the Lou
to with me on 6usaes Thse We
M. Bsyon with whom ,S we ipp bike on different 81, subject,
sana Courier about the Louisiana STATE Bank On the Satin
|
being in conformity with the last report published by I
Board Of Currency on the inst. led me to inquire OF NJ
answered. rom he Hon Charlie; Gaya19 %eabsr Of Il
Board OF Currency. Your friend and obedent servants
T. DEvsRGEs
So we find that the Secretary of State
busily engaged in running here and there arousn
public apprehensions, in order that he mig
'allay" them. And how did the Hon. Mr.. Cray
ARE undertake to aIiay" them? BY publishn
an parte statement, that instead OF allayin
public approximations" was calculated to swe
and keep alive the excitement. And the best pro-
of this is, the effect produced on the public mini
- | public excitement at time when Mr. Gayar
himself declares that the present solidity of tt
i Bank" is "unquesttoned." If Mr. Gayar
:, merely desired to discharge important and del
. | cate public duty that devolved upon him by Law
= | why did he not address interrogatories to til
n Attorney General, which he had clear right to d
# and submit them for my signature. | would n
=, have failed to sign them? On former OCCASION
signed interrogatories to that officer, together wi
'. Mr. Gayarre, although differed widely
] we do now. This will appear by the minutes
$ the Board of Currency. Would not such cour,
he comport with the dignity of stations an
? the importance OF our duties? But what right HI
1t Mr.. Gayarre to address this Report" to the ATTIC
le ney General? He claims the right under the | |
D. section of the act OF 1872 which is in the folio,
J, ing words, viz
THAT shall be the duty OF each member OF the Board
:, Currency report sad board niracton OF this
that may his knowledge, and every director oil
l. nsble in damages and shall be liable besides
Of $500, for each offence. be sued for by the Aor
General the notiica ion OF such ntractpn nract
:, | by the Board OF Currency.
a Mr.. Gayarre has evidently either read this la
parpleSsly orh he incana bp nj COZ reh hen