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

M. 10 lusvs,sI .Ao3psn e government which
q pablo ss.st~ = any premature action the Ioroe =
e, sos' nm nm. s11oSs sDs 81 sSs sasc
pps.s - % obvious that both the interests Of the
f. ~ hsnA, and the general expectancy Of such An
require that the consideration Of the sub
Jse: ,heeh b sep1ssc nom party questions, With
which has properly NO concern; and It II equally
clear mat In the present state Of political PARTIES
whatever may be the motive Of the friends OF the
hank, II mast undoubtedly be mixed up with topics
altogether unsavorable 70 dbpas' tomato Judgment
u not unreasonable ~ infer that these considers-
tions il have their weight with tha members Of the
present Congress, who win see nothing In refusal
to Ssaisase at present. Inconsistent with the msints
nance Of thtr own views under more favorable CIR
have no right, nor do profess in any manner TO
4 speak for the President his opinions are before
the country in his Off ;ial messages, 10 each Of
s snsS nc ne has invited the people Of the United
iDdeper IDENTIFY OF the views be has heretofore avowed
and however they might be ultimately affected by .
deliberate expression Of the will Of decided ma
jorty OF The people Of the Untei States it would be
unreasonable to expect that he could nov consent
finally to fOIeclose the investigation which he him-
self has invited, before the public sense has been
constitutionaly declared and sscertained.
For myfelf must say tha: hOldi0g the principles
do and have here expressed ss one OF the ooast.u
toDal advisers Of the President l could got con-
stent iDerpote an objection to the exercise Of his
negative up0o bill re chArteriDg the bank during
OF, and in come cton with, series of measures for
adjusting, upon principles Of compromise, all the
great interests Of the country.
deem it unnecessary to repeat my opinion OF the
iexpedency or necessity Of national bank, on the
gI0uI0 and for the purposes have heretofore pub
hcly tated; but will not disguise the solicitude
feel lest any premature attempt to 10 charter the
preent bank BY exposing it to the influence Of
party feeling and prejudice, should hereafter en-
s0lrage the preference TO an entirely new institu-
TN.
l sm, dear cir, with great respect your obedient
| srvant, LOUIS MCLANE.
To NICHOLAS BrDDLE, Esq.
NH. BlDDLE TO Mr. NCLANE.
BANK ON THE UNITED STATES,
Philadelphia. January 10, 1882.
DEAR Sir II had yesterday tho pleasure Of ne
ewing your favor Of the 9th instant. The general
yiws which il presents, bad already been stated by
Gneral Cadwa1ader, and ! need not say had been
mde the sabject Of most anxious and respectful
cosideration. But, after giving to them all the
wSht to which they were 50 justly entitled as well
SOIL character Of the writer, felt constrained BY
s0ee OF duty TO come to conclusion d flerent
frol that, which perceive with regret, you cons
derthe most judicious. The decision Of the Board
hAyg been made, it would be perhaps superfuous
nOwo discuss its expediency; yet my anxiety that
you lopld understand distinctly the motives which
havegovened us, makes me venture to intrude
upon ou with few words Of explanation.
lnle first place then y0u have, l think, not ad-
yerte to the period Of the expiration Of the charter
II des not, as Jou suppose, continue !" until one
year tier the termination Of the next Congress-" It
endsn the 4th Of March, 1886, the day on which
the lxt Congress ends; 30 that unless acted upon
Dy I'd present Congress-as it could not be finally
dlsped Of IN the ordinary Of the proceedings
o. Us body before the close OF their first session.
Inc nk would be wholly uncertain Of i,s fate until
with less than two years of its term It is for that
rease that it seems expedient to ask for decision
by th Congress.
Ycr impression also is, that Congress have no
authdty without the o0nsent of the Stockholders to
alter provisions" and that law passed in the
intern ". uld only take effect after the expiration Of
the pseDt charter" You are not perhaps aware
that athe trlennial meeting Of the stockholders in
SePt Der Last, they expressly authorized the Board
OF DnetoIs to apply to Congress, an0 to " ,cept
sucn Tens OF renewal az they may consider just and
proper. They have, therefore, delegated ample
p0werso make an immediate arrangement.
Nor aOuld suppose that an act continuing the
charter y0uld be Intellectual until the expiration Of
its prsnt term. The successive renew lis OF the
cnarE OF the Bank OF England were made, / be-
heve,t various periods before its expiration. The
banks TbehM INTRODUCED to recharter the former
Bank othe United States was merely this Be it
enacted &c., that the act Of 1901 "be, and the same
hereb, continued untf the 4th OF March, 1881,
subject the conditions aid restrictions hereinafter
specified My impress ion Las been that the Board
Of DEeCsOrs are now empowered TO conclude an ar
rangenent by which the bank might 20 intoa new
1gn without any further legislative action
IN resard to tns impression entertained ny you
that the n.scnt Cu.gfess has not ieen chosen with
Ieleience 70 "a. auess9n, and that there are no
people before the election urenaratory - The Tan
ty-third Congress-" your a~ence from the limited
States, during the last two years. has ,rohs h,u r
vented t 20 cIoee and distinct w as Mt possessed
univ rsal interest ana the general dsc.sion oc 20.
stoned by that topic through every part I the I'M
ted States As early as the year ls29, the iresent
declared thas ne could not in justice 10th, paaes
slderation OF the Legislature and the people W
the following year be again stated that tia innn.
lance Of the measure required that che should ae,n
call the attention Of Congress to that subject" Az
cOrdiDgly, reports from the Committee OF WAYS AMI
Means and the Committee of Finance on tha. an,
the kindred subject of the currency, were made I
Congress. These brought the case distinctly befor
the people It was discussed in the Legislature q
New York, in the Legislature of PeDnsylvaaia, il
the lie kslature Of Mississippi, which asked for tn
establishment Of branch, and, more recently Ii
the Legislature Of Tennessee, and the Legislature Q
Georgia. II entered into all the elections, DO
was there ever probably aoy question 50 thoroug al
discussed. At the close Of these discussions neV
Congress chosen, and 10 that Congress the Presi
dent has again addressed . special Invitation to in
yest'sase the subject 1t appears to me, therefore
| mat the present Congress, thus prepared by tho
repeated warnings Of the President, Is IS capsbl.
and as competent as any will hereafter be, to ac
defnitively oa the question.
In relation % the effect which an application II
some Of ts friends in consequence Of the hszari OF
blending the question with considerat ons Of %
htical character, and in relation also to the views
which the President may entertain Of the propriety
OF deciding ct this time these could not fail TO re
cei,e very deliberate attention; but the application
Of these principles, by which the bank has been uni
formy admins cred led us to conclusion which
seemed not only just, but inevitable, The Board Of
Directors were satisfied that in reference ex lusvey
to the interests committed to their charge and those
OF the community, ID was right 70 apply to the pre-
sent Congress. Believing this TO be their duly il
they abstained from performing il on account OF
any real or supposed influence it mig bit have on any
political parties, or because it was either desired OF
| deprecated BY any political party-from that mo-
ment they administered the BANK in reference &
political parties whose very existence they are bound
not to know-from that moment they violated that
neutrality which lies al the foundation Of all their
duties. That their motives II be misunderstood OF
misinferpyeted is natural, bat the best defence
against these imputatons is the consciousness Of
not deserving them.
The only regret which accom- oanes this measure
hot r1pfct ba