The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-09-13

shs Unlsea esnsss BAnk-A a,ssWys On.
rsssea.
This b the ere Of "reminiscences. The papers
are full Of them. Some ere thrown out 70 COZ
rect others that haa preceded them. The tru'n
finally reaches The people who are BON 70
tenished and ediSed by the statements Md be-
fore their gaze. We are opposed to puriSGs
reminifcenees, and whenever 1t is in our power
We make Y point to set : history" right We
do SO TO day.
in the EveaiSg Post, OF the 9Th inst, there
appeared the following editorial
SPURIOUS "REMINISCENCES.
The Albany Eren,xg Jyur~aI Of yesterday, after
quoting from Nj. BeDtoD's history OF the struggle
between the United States Bank and General Jack
SUB, = passage giving an account Of the application
Of sbe Uni.ed States Bank for renewal OF To char
ter just previous TO Jaeksons second election, pro
eee0s thus =
ihe,s l.. If our inJorratias be reliable and It
from shly in,s'hseat son'ce pregnant suecres
RON on'bion this other -Ae suthssus "le@inis-
esI csn IL 10 tlM;-Gsn JscAseH's Secretary Of ths
De.wry, the Hen. oris AclAne, 90 believe, informed
6eY GA ~,liaaer then. Mr. he de h,mssH short
., eyious the. the bank sould forsso aosdcs
for I'll alter The pmding Pro dental
~ Gen Jackson would, in his message 10
q pRress, end bs Ie-cbA ter This . oonh-
o-Ausl but uthoIissd proposition.
NJ Bcdie and 81 tee pes p0nsib'e bank men ui'h
VII be consuled decided 10 ACCEPT ADD It Bat
spsI sih certain sting uisheo 'rsDds Of the
bsnh IN Congress. Mr. Hddie informed hat the
bs nix NUT choose Oet@ee num and Goo. Jsskson that
1t could have rhe support Of both that It relied
II trusted 70 Gen Jack oo's promises trey wsre 70
leased from further Dte,et No tbs question: and hat
o., sssn g. o. M tnSss the nrnori.i ss' prsse ossd
processes to have from highly intelligent source"
10 not worth penny. so far rs regards Gen. Jack
son We Den, it wholly, and challenge the accuser to
produce his proof. What Mr.: MeLane, who had
hankeriDg after national bank, might have said to
Mr.. Bidde, We do not pretend to know, but We are
positive that he never had the authority Of Gen.
jackson ~ make any such proposition as the dis
graceful one me 1tioned by the EUentng Journal 1t
Is proceeding wholly At variance With his character
and msxlns Of conduct It could not have been
made by his authority except in direct contradiction
to opinions deliberate embraced and already frankly
to act In opposition ~ his convictions OF right-rom
that he was withheld by the native integrity Of his
character; nor WAS he man to bargain with al ad-
versay for his forbearance-from that he was with
held BY his native courage.
But does the Eres NJ Journal see that its mar.
rative, II we believe It's truth dishonOrs the wing
leaders equally with Gen. jackson Their pretext
for pressing the claim Of the Unised States Bank to
renewal Of its charter, that the continuance OF
the institution WAS imperiOus}y demanded by the
public good that without it the finances Of the
country and the exchanges would fall into irremed
able confusion and the various important interests
dependent upon it would suffer prejudice. The story
TOLD by the Ecening Journal gives the lie 70 these
pletences. 1t makes the whig leaders to have been
ao'uatsd simply by party motives It represents
them as threa enDg, unless they c0nld use the bank
and it, influence as party engine, 70 abandon its
cause altogether to withdraw their pretence that it
was important to the finances Of the country, neces
sar TO our commerce. aud indispensable to regulate
the exchanges II the bank would no submit 70 be
uteo as their instrument to secure them victory in
The elections they mould take no further interest
In the question"
the times, that such narrative should be given in
the columns of 9 leading political joarnal, with.
out any apparent consciousness Of the proflsacy it
implies.
A friend Of Mr.. McLane's, residing in this city,
forwarded to him the article from the Post,
and has received from that gentleman the cor
respondence we now publish, with full au-
thority to deny the statement in the Albany
Journal.
That Mr.. McLane favored the expediency of
rechartering the Bank Of the United States, a.
least until the Encouragement disclosed by the
investigation instituted in the House Of Repre-
sentatives, Immediately after the bank applied
for re-charter, was always well known and
understood by the public,-and not only never
~nrnnoloa. H.. H-Liy @"a fuasrUesly avowed
IN his first annual report as Secretary Of the
Treasury in General Jackson's administration
recommended that the bank should be re-char-
tered at the proper time, but with notifications
that were not specified in any detail. From
this circumstance more however than from
Mr.. McLane's position in the treasury depart
ment, with which the transactions of the bank
were so materially connected that it was only
natural that as Secretary Of the Treasury he
should be consulted in matter of such vital
Importance to the government and the institu-
ton as the question of continuing the functions
Of the latter
We give the following correspondence in
justice to all concerned, which, whilst it amply
refutes the allegations in the Albany Evening
Journal, shows the frankness and wisdom with
which Mr.. McLane counselled the bank. and
the scrupulous fidelity he observed in crisis
towards his chief General Jackson -
Mr. McLANE TO Mr.. BrDpIE.
WAsHINGrO ron, Jan. 6, 1882.
Dear Sir-General Cadwallader has returned to
Philadelphia, and fear with Impressions favorable
United States at the present session of Congress
When he consulted me upon this subject, soon after
his arrival here frankly and disr city discouraged
the attempt, and on grounds which believe were
entitled TO weight. Other counsels, however, and
IS l think, too sanguine expectations of support
from Congress- appear 70 have had greater influence
and Il has occurred TO me as proper that should
communicate my opinions directly TO you.
do not process 70 be in stu alton to become the
adviser Of the bank, and desire to be TIRE spoosible
FOX the future decision Of the directors and stockhod-
ers. The position occupy in the government how
ever, and that in which the late ANIMAL report which
my sense Of public duty constrained me to make has
placed me in relation 70 the bank, aud may possibly
place me In relation TO any immediate attempt to re-
new the charter, make 1t necessary for me 70 prevent
nisapprthensOn from any quarter, distinctly 70
state my own opinions. This viii at least leave mo
unComIittt d for the future, whatever weight NAV
be given to my views.
l feel constrained therefore 10 say that am de-
cidedly opposed, both on principle and on grounds
OF expectancy TO an attempt to renew the charter
OF the bank during the present Congress.
The annual report Tor the reasons stated in IT, re-
commeDds the renewal Of the charter " at the pro-