The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-02-14
Making $544.476.575

and buy them in at the depreciation, and having
done this, required the deficiency to be made up
out of other available assets of the bank, leaving
the widows and orphans to perjury and want
Such, sir is the true history of the causes and the
manner in which the bank Of the United States
was destroyed. !. was done by combination Of
London bankers inte ested in sustaining the Eu-
ropean funded debt, and who used the power
which their control the interest Of that debt
and the commerce between England and the
United States gave them, to maintain their fc-
ttious wealth at the expense of the interests,
and reputation Of this country.
beg you to believe that this is reality, not the
Dry; and to remember that those London bank
ers have seized upon the occasion then presented.
to SO re-organze the machinery Of commerce, as
TO give them greater control over the values Of
American produce in the British market, and thai
therefore all that you do to increase their credit or
resources as bankers, is done at the expense of
the interests and prosperity Of tho United States
Thus the American merchant can no longer pur.
chase on long credit; he must provide funds or
British endorsers to make his purchases; whereas
an agent Of the Earrings, not worth one dollar,
can with letter Of credit from them get the con-
troll of large part OF our cotton, by advancing
seventy6ve per cent. on the price in market in
a bill drawn on ". York. The cotton 10 sent to Lv-
erpool in a bill and the bill drawn on N. York being
paid by bill on Liverpool, If the cotton sells for
the amount OF the advances, these London bankers
have made their commissions and their profits on
two bills Of exchange, without the advance Of one
dollar Of money. And do you not see that as
these Barings are Englishman, and their vast pro-
Ats depend on maintaining the ascendency Of Brit
ish commerce, they will have the same induce
ment to prefer the interests Of the British con-
sumner over those of the American producer which
led them to combine with other bankers to destroy
the late bank Of the United States And do you
not see that by giving to them preference over
the American citizenS in the agency for the pay
ment Of the indemnity 10 Mexico you increase the
power which has been used, with all it's energy to
foster British interests at the expense of the
United States, and which private interests and
public duty will require them to use again in like
manner, in every case where American aud Brit
ish interests may come in competon' And per.
nit me to say, that 50 long as these foreign bank
ers, representing as they do the rotten system Of
Europe, are permitted to regulate the finances the
currency and the commerce OF this country, they
can regulate at will, our commerce, our nlanufac
lures, and our agriculture. Do you not know
that the time once when large part Of the
bullion Of Mexico came TO the United States Dc
you not know that these bankers and the British
government have their agents in Mexic, owhose
business it Is to purchase bullion ard send it t.
England, by the steamers which 60 monthly to
Vera Cruz for that purpose' Do you not know
that the control OF this bullion adds greatly to the
q
small part of it may find itSwsy to New Orleans
these British steamers no longer permitted to
touch at that port' With knowledge Of these
facts, how can you. as the head Of the COMMITTEES
Of Ways and Means, lend yourself to transnc
tion, the effect Of which will be strengthen ths
influence Of these foreign bankers in Mexico, at
moment when the government ard people of Mex
leo, driven to desperation bv their extort'ou'
usuries and expressions, are making extraord
nary effort to be released from their dominion, and
through their President, are beseeching us t.
establish such relations with them will restore
to our fair participation in their t'ade, and 9th
erwire greatly promote our interests repent
what have these bankers done that you should
give them sixty-fve thousand dollars a bonus
for doing that which can be better done without
their agency
There are considerations which reserve for an
other letter. Very respeetf fully,
DUFF GREEN.