The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-04-13

elimination for which no reasonable
excuse could be given and that dis
elimination becomes the more ap-
parent and the more unjust when II
is remembered that about one-fifth OF
the taxes of the District of Columbia
are paid by our depositors and that
the money with which those taxes are
paid Is drawn out of this bank.
Address n Protest.
When we found that our bank had
thus been Disseminated against, we
addressed, under date Of May 6, 1914,
polite note to the Secretary of the
Treasury asking his reasons for the
discrimination.
Under date of June the Secretary
Of the Treasury made a rather curt
answer to our letter addressed to him
more than thirty days before. and in
addition to what We think were his
wholly insufficient reasons for refusing
to deposit any part of the tax money
with this bank. and as IL to en-
phasize his unreasonable hostility. he
told us that he intended 30 withdraw
all Government funds from the Riggs
National Bank"
In pursuance of this open declara-
ton of war on this bank, the with
draw wal of the public funds from IL was
Systematically inaugurated and in
very short time more than $1,000. 900
was Withdrawn, Such withdrawal
would embarrass a strong bank in an
ordinary time. and under the financial
conditions which then existed bank
of less than exceptional strength
would have been seriously imperilled.
In n period of stress. when some banks
were failing and all banks were striv-
ing to husband their resources. no
reasonable depositor would have made
an extraordinary. and certainly not an
unnecessary. demand upon any bank;
and that this demand, both extraordin-
sry and unnecessary. should have been
made by the Government of the
United States. and by the very de-
partment of the Government charged
with the care and supervision OF ma
tional banks in a time of universal de-
preston. verging on a panic evidences
to our mind a deliberate purpose to
wreck this bank If possible. and noth-
ing else than this banks unassailable
position defeated that purpose.
Other Funds Withdrawn.
The Treasury Department was not
content to withdraw from this bank
the funds subjec. 10 its control, but 1t
insisted upon the withdrawal of
large fund controlled by the War De-
partment. While the Secretary Of the
Treasury was withdrawing the public
deposits from this bank, he was pur-
suing a different policy towards an
other banks which is supposed to en-
JOY your special favor, although every
report which it has made TO your Of
fee since you have been comptroller
Of the currency shows that ii has been
violating that section Of the national
bank act which limits is right to In
cur Indebtedness, and the sarUB re-
ports show that on every statement
day it's reserve was below the amount
required by law.
1t would extend this Communication
beyond a reasona Bile limit for US 20 re-
view the letters which have passed be-
tween your office and this bank, be.
cause they cover more than 400 print
ed pages. Il will not be amiss. how
ever, To say that in this voluminous
correspondence you have not in
single instance ordered. or requested
this bank TO discontinue any business
practice which il has followed. nor
have you suggested the adoption of
any new or different business method.
Notwithstanding the fact that our
board OF directors, by formal resolu-
ton, invited your suggestion in that
regard. Your object throughout seems
to have been 10 find matter for COM
plant rather than for correction. In
deed, SO eager have you been TO find
some misconduct on the part OF tho
officers of this bank that you have
called experts to assist YOU in that
effort. You kept the regular bank ex-
aminer for this district with an as
sistant employed in an examination of
1t from the 13th Of November. 1914. to
the ! 9Th of January. 1918: and when
that unprecedented examination dis
closed nothing which would support
your attack. you brought an examiner
from another district and ordered him,
in cooperation with your regular ex-
aminer, to conduct a special examina-
ton of our officers under oath.
Patience Ceases To he Virtue.
Patience with us has ceased to be
virtue, and perhaps never was.
Hitherto. although sorely tried. we
have. by forbearance. endeavored TO
allay your passions and have continued
TO answer long beyond the time when
self-respect and the good opinions OF
others warranted different course.
We recognized to the fullest extent
your official right and your official
duty to give to this bank, as to all
other hanks under your jurisdiction.
the most rigid supervision under the
law; and We will in the future. as
and complete answers to all lawful in
duiries. But come what may, we wiz
not further submit to. or respond to.
Inquiries hat palpably transcend Of
fetal propriety, or authority. and
which violate the common rules of
decency and self-respect.
Nothing Destroyed.
Having submitted the foregoing. We
now comply with your request with
respect to the destruction of the pa
pers and records of this bank, and
say that neither since the LIST of May,
1914. nor before that time have
any Of the books of record. or ac-
count. or any portions thereof. or any
correspondence or reports. or state
ments, or vouchers, or documents Of
this bank been destroyed. mutilated, or
disposed Of
Not only as n matter Of compliance
with your demand but also because we
desire that certain matters Of fact in
this communication shall be placed be-
yond any doubt, we make oath to this
letter.
As only the president and the two
vice-presidents have cogniza nee Of all
the facts herein stated. they alone sub
scribe.
Respectfully yours
CHARLES @. GLOVER,