New-York daily tribune., 1858-08-03
MR.. WAIBRIDGE TO THE PENNSYLVA-
MA BANKS.
IA. E6,,,. Of The n. Y. T,ibune

"a "a, Ed,- Of The ~ y. Tribune
sP 10 your paper of the 23d met. you copy prom.
n.,,ly. f,cm Tile Philadelphia North american, com
,pepts upon recent report Of Special Commttee OF
the Uouss of Representatives OF PENNEY ylvania TO his
Excellepcy, Gov. Packer, regarding certain banks in
that State. In subsequent psper you comment upon
tbe same report In both OF which am placed in
position b.scle the pubic which does me great ipluE-
ce and desire to say few words in reply, to correct
the grossly outrageous misstseinent OF the facts as
thew really exist but which in that report are evi-
IDENTIFY made up for purposes OF perISons no'ore'y In
The oLiy interest ever had il any bank In Penn.
sylvsnia, was in the Bank of Crawford County and
the Ttoes County Bank, both of which assisted 70
organize. These banks were IN sound condition
when eIauued by the Committee and not IN any dan
ger Themselves or dangerous 10 the public as might
be ipfefie ed by the report.
The Bark Of Crawford County when under exam.
nation by the Committee exhibited to them the fol-
Liabilities except cOpit. stock .sBsl7 IS
Cssh sssets In gold and silver currency, and
Making one dollar cash assets for every two aud
one eighth dollars liabilities, beede good bills recsva
.le made by parties in the immediate vicinity OF the
bank 10 u eet all its disabilities. Tns bank redeemed
it's uatrg notes in coin all through the recent sus
pension Of specie payments by the banks OF PennsyI
vanis, and is doing the same thing now. -.
The Tioga County Bank, from clrcula!ion OF
May last had reduced the same TO 900 at the time
il was exsmined by the Committee, aud 1t does not
now exceed s27 900. H. also promptly redeemed ali
demands upon during the recent suspension IN tost
Stste'
The subscriptions TO the stock in both cases were
made under tie best legal advice and the authority OF
sworn Commission ers appointed oy law ana approved
by the proper State officers, when the letters patent
we've issiod thereon. rhe powers OF attorney under
which psit Of the stock subscribed were never
seeu BY the Committee; therefore then comments
upon them were entirely grstuitous and very unfair.
These bsuks have done large legitimate nome
business 20 tie great accommodation OF the business
in their respective counties which fact vas well
known 70 the Committee, but It seems to have been
pant If ,he business or intention to state anything
IN the! pOIt which would DO likely TO create htavor
able unpiession while the contrary they seem TO
have epsrtd pains 70 gsrble distort aud mlsstate
facts to the parties VINO procured their appoint
ment. .
uueudo ard lnsinuaton-H hich are as dlsgraceul ID
themselves as ulmanly toward me-t0 dlscredlt my
testimony, Justify themselves by stating that Mr..
Tucker ore OF the Com nssioners swore upon some
points differently from me, but taey wholly omit to
state tie tact, thst Mr. Davis, an acting CommiS-
siOaef aud Mr.. Brooks, the Clerk Of the Commits
,i,nsrs, both men of high respec.sbty, were sworn
TO the same points, and corobOrated my testimony IN
leaily every particular; they were witnesses called
by the Committee aud the only that were called
on the poL TO which they refer. Two agreed with
me- one old not entirely The fairness OF TINS eouse
submit to e candid pubic.
The Committee had no legal right to make the e1-
smir alton being empowered by only one House,
while the bank laws Of Pennsy vania require every
committee authorized 70 examloe banks 10 De Dy lont
action Of the Sensts and House. The o1jes 81 ms
0tyOfnfnchf fcdS too NeA kRorR H ne SeRWt j0r
ne mortrs 10 get ttsv cooperation for Their appoint
ncnf Or an a. prOpTt tQti0H fer their pay. Bat the
cfces Of the Bank permitted the examination voun-
arly ard offered every facility TOR Its pro'ec alton,
because they had nothing 10 conceal, but rather
A.
report. They knew the movement was orlgnsty
instituted by the Lobby a. Harrisburg, to extort
" blsok mail; this fact was well known al Harms
burg. No Oyertures were made by the bsDks, ana
20 the Committee neary tbrte monies sher,then ap-
pointmeIt and after u.akog a pleasure trp 10 Chl-
csgo, stopped and made the examination, ana re-
port, wherein, in violation Of sl honor, they nave
sabed the evidence taken Inssa.ed the nt )rmation
elected ara substituted their conclusions for facts
After the examinations IN both cases aluded to- the
members tt the Committee expressed Themselves as
entirely satsied with TIE condition AID management
of the respective banks. Yet subsequently, one of
the patty Was overheard TO say 81 DINER table that
q" they must give the banks HI, or the people would
- never De eaistied.'
Under the circumstances which transpired, should
20 al lcss 10 account f)r neir course except tbs II
was too sood an opportunity tr " Bupcombe, aad
The Committee made the most Ct IT, regardless OF as-
ice ard the injury they might dc Others. IL WAS also
essenial that they should n some way insure ihsi
pay rCm the egssture, which was not Prov led
ior n then appointment; AID oeiCg politicians, tney
must pcpW aiize themselves s. TO insure their own
ietrun thst body. 'rais would necessarily involve
asseitoe Si priLcP!e, and they msde II;
The pubic good wouA have been fully served by
SIMPLY teArg the truth, ard hsn NO harm would nave
come 70 ny ELF and others.
have 40 desire 10 cal in question the motives
the sc;Co # this Committee any further than
oeoeessly 10 defend myself from tne unas. inpu
iaiSLs t'nia.ned IN Their report, which served as 9
o.'s iof couneni by tae public press greatly 10 ths
nJuiy OF m! reputation where | au not personally
Nfown: 49, WELLS ID. WALBRIDGE.