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−t can be thus chaffered while one of the fathers ago. We do not know what will be the yott of the revolution yet lingers on the verge of" the House; but presume that the combined existence? - influence of the bank and, of the opposition, why should Mr. Ritchie denounce the south? can take through any bill which the Senate Does he believe that her patriotic sons ask tool may Pa. i and under such belief, we are left much? Are they not willing to contribute to the Executive veto as the only hope against their full proportion, and more, to the publiclito becoming a law. our objections to the intreasury? He will not dare say that they do. are known. The amendment, in our not. Have they refused to accept any o;. increase its powers, and render their cation of the taxes which approaches this point?passage doubly dangerous. Situated as public He will not venture to say that they have. waylopinion now is...we are, not prepared to say then does he, a recreant son of jie south, darolyhat the President will do, we incline to denounce her patriot sons as ultra 2 Uira, in hope that he will veto the bill now before the what? In nothing, except it be in attachment|Senate ; and we are confident that he would to the Union, and a disinterested devotion to gain more than le would lose by doing so. He the country. The question before congress is shall have out feeble support to sanction him

9ne of reduction. The capitalists of the north have clamored for protection; they have told us that if we will give them protection now,in a few years they would protect themselves. We Wenture to assume, unjust and oppressive as the present onerous system is, yet let there be even a remote hope of ultimate relief, of such a reduction as Mr. Ritchie himself demands, and they will acquiesce. He cannot say, he will not venture to say, that those whom he has stigmatized as ultra, against the tariff, are not prepared to make every concession for the sake of peace and union, that they ought to make; yet he speaks of them in the same breath, he identifies them in” the same censure with those who are ultra for the tariff, can such unfair, such false and traitorous profligacy, admit of any ano her explanation than that Mr. Ritchie, in his devotion to Mr. Van Buren, has sacrificed all his former principles? If he were, as he once was, really opposed to the tariff, he would not hesitate to make common cause with the suffering south, instead of weakening all her energies at this important moment—this the very crisis of her fate, by making war upon her principles,in the persons of her ablest defenders. But hark! we hear a voice from the south; the spell is broken; Virginia, N. Carolina, Georgia, and the south, are awakened. Not all the Archers, the Stevensons, the Forsyths, the Ritchies, the Speights, and the other little dependants

so far as that act goes, if he will but summon
up courage to go through. But we would say
to the triends of the bank, we have our appre. .
hensions that he will not do so; aud sure we
are, that he would not veto a bill with such
amendments as would remove many objections
to the bank, and yet leave the charter accepta.
ble to the stockholders So much for the cin-
sideration of the bank and is friends.
We would make another suggestion to those
whose duty it is to legislate on this subject.
The stock is now worth say 125 dollars for 100
paid in. The renewal of the charter to the
Present stockholders would be worth to them
25 per cent on the amount of the capita
stock, or equal to seven millions of dollars.
This, is a bonus given by Congress to a privi.
leged class beyond the advantages to be deriv-
ed from the use of the public funds and other
advantages. Why should they not be re-
quired to reduce the rate of interest? They
are entitled to charge interest at the rate of six
per cent. , but in consequence of the advan.
tages given by the charter the rate of their ca.
put l is increased twenty-five per cent. If by
their charter each $100 of the capital is worth
$125, then they should be allowed to charge
only that rate of interest which would give six
dollars on the nominal value of the stock.
Thus, as the stock advanced the rate of inter-
est would decrease. We do not expect such a

whom they have purchased or cajoled, can sell principle to be engrafted in the bill, but the

the confiding, the brave, the generous south. No! we hear the watchword re-echoed, the bea confires are blazing; the south is in motion; the time is at hand when neither Jackson's name, the magician's spell, nor the wiles of the practised intriguer can longer deceive. The charin of Mr. Ritchie's influence is broken. He will be viewed as he is, the degenerate son of a tory father! and can he transfer, can he sell, in the political market, the descendants of the whogs of the revolu.ion? It were disgrace o calmly answer such a question. No never.

THE BANK OF THE UNITED STATES.

The bill for r chartering this institution has now oeen ior some days debated in the Senate; and the votes taken on the eeveral proposed amenuments indicate, clearly, that a decided majority of that body are in favor of its pas

propriety of it must be apparent. Yet the
suggestion shows clearly the justice of reducing
the rate of interest to be charged by the bank
from six to five per cent. The beneficiales.
fects of such a measure upon the “general
welfare” of the country cannot be doubted:
It is unnecessary for us to urge the objeo"
tions so forcibly stated in the Senate. We
yet cast our hope to the President; let him do
his duty; let him veto the bill, and we are with
him as far as that goes, but we have our fears.

The Van Buren Conventfon has, so far as its friends are concerned, fallen dead upon the country. Even the purchased press, with * few exceptions, dare not nuzza for Martin Van Buren it was conceived in sin, and ho orought forth “iniquity.” But although to disgust is so great as to silence and alarm to venal projectors, it has removed the scalo

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arrived at Upper Ham ourg about 12 o'clock,

from the eyes of many confiding citizens. It presents a point of contact, and enables the south to test the sincerity of those who have so long abused their confidence. Certain individuals who have long held that great section as an heir boon to be disposed of for the benefit of themselves and their descendants, will now find that, the mask having been removed, their purposes are known and understood. There will be a rally for principle which will ind in the everthrow and disgrace of every traitorin the prostrauon of every degenerate southran who dires sell his influence for office. This is the day when men are nothing—when principles are every thing. We hil the auspicious omen. We see, we feel, that the nomination of Martin Van Buren presents the crisis, and that the south have now no alternative but to submit, and die slaves—or to resist, and live freemen—and she will resist.

THE BALTIMORE CONVENTION.

The New York Evening Journal says:

“We observe, among the delegates from this State, to the B &ltimore Van Buren Convention, the Comptroller, Secretary of State, Adjutant General, two Canal Commissioners, one Bank Commissioner, nine Judges, and several small fry office holders.”

A similar expose from the other States might cast some additional light on the proceedings of this famed Conven ion.

GOV. HAMILTON. The following notice of the dinner lately given

to this distinguished son of the South, is taken

from the last Charleston Mercury:

“Extract of a letter received in this city, dated “Augusta, (Ga.) May 27, 1832.

“Our Festival, the Georgia and Carolina Festival, given in honor of Gov. HAMILT N, took place yesterday at Hamburg, and it was flattering to his Excellency, as well as to the fri nds of the cause that he so boldly advocates, that it was so numerously attended. The Governor

when he was teceived by the committee of arrangements, and with them attended the shooting matches, which you will see by the Chroni cle of yesterday, were to have taken place. Each medal was suspended upon a bead chan handsomely worked by the fair hands of the Hamburg ladies, with the following Carolina motto: “millions for defence and not a cent for tribute.” About 2 o’clock the Governor, in his carriage, accompanied by General Montgome**, and other carriages following, were escort. “d to the tavern at the Lower Town by the *ited committee of arrangements and the *mburg troop, when his Excellency received his friends, and where the procession was form ed to march to the dinner." the building apPoptoted for dining is about 250 feet; there j four tables spread half the length of the

"good one table running across at which

committee of arrangements. Flags were hung out at each end and at the centre; at the back of the Governor was the figure of Geo Wishington, and opposite to him the Coat of Arms of the two States, Carolina and Georgia — Around the room were mottos of all kinds, expressive of" the doctrine which we had assembled to do honor to, all of which it were impossible for me now to give you, but none were more conspicuous than that of our Georgia troop.

“The argument being exhausted, we will stand by our motto, millions for defence and not a cent for tribute.”

“The table groaned under the best that the country afforded, and I presume that not less than 500 sat down and as many more stood up.

“The regular toasts I shall send you if I can obtain a copy time enough for the mail, but I want words to express the enjoyment and delight of every one at the eloquent and explanatory speech of your chivalrous Hamilton; equally was I delighted with Preston’s masterly production. Georgia was represented by those who had rode upwards of 100 miles to attend the celebration. Letters were received and read at the table, from many whose engagements prevented their attendance. The letter which appeared to live the most satisfaction, was one from a Mr. Howard, a representative of the State Legislature for Baldwin county, (Geo.) It will be here necessary for me to mention that he was the first public man who openly avowed this doctrine, and the first man elected after having done so. After the reading of his letter his health was drank and his name was echoed and re-echoed through the building, and a short and complimentary speech made by Col. Butler, of Edgefield, in his usual happy manner, in which he spoke of the gratification that the sentiment of Col. How ord gave to the State itights' party of South Carolina, as it was the first voice from any of the States which openly and fearlessly re-echoed their sentinents

“A band attended, and cannons were fired during the dinner, and enjoyment appeared on every countenance around.

“I left them at about 10 o'clock, reading letters from invited guests. Colonel Noble, Wardlaw, and many others from Abbeville, were at the dinner. A paper with the proceedings will be sent you as soon as published.”

GEORGIA AND SOUTH CAROLINA.

The Georgia Chronicle, published at Augusta, brings us an account of the late celebration at Hamburg, in South Carolina, of which mention was made in the letter which we copied from the Mercury yesterday. These proceedings breathe a tone which no intelligent reader can mistake, and they are but a precursor of that union which is to achieve an entire change in the measures of the Government. The fetters which have so long bound the south hi *.

*the Governor, the guests invited, and the

slavery, are abossN.

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388 UNITED STATEs weekly TELEGRAPH.

UNITED STATES” BANK, it may be legitimately exercised. But, in a

matter of so much delicacy, I wish to place the

CORRESPONDENCE by ITH THE SECRETARY OF THE TREASURY. *:::::::::partment beyond the reach of

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Allow me, therefore,to assure you, that those

- charged with the administration of the Govern(No. 1.)—Treasuar DEPARTMENT, ment, relying for support only on the intelli

July 11, 1829. gence which shall discern and justly appreciate so: There with transmit a copy of a confi.lthe character of their acts, discúiming's desire

dential letter received from the Hon. Levi
Woodbury, Senator of the United States from
New Hampshire, containing a complaint against
the president of the branch bank of the United
States at Portsmouth. Complaints of a similar
nature have also been suggested from other
places, particularly Kentucky and Louisiana.
These, when presented in a more distinct form,
will aiso be communicated to you.
The character of Mr. Woodbury justifies the
belief that he would not make such a charge
upon sloght or insufficient grounds; and, from
some expressions in his letter, it may be infer-
red that it is partly founded on a supposed
application of the influence of the bank, with a
view to political effect. But, in whatever as-
pect it may be regarded, I would invite the se-
rious attention of your board to the alleged evil,
and if it should be found to exist, I cannot
deubt that you will apply an efficient remedy.
You cannot be insensible that the power
possessed by extensive moneyed institutions to
distribute favors or inflict injuries, almost with
an unseen and irresponsible hand, that may ele-
vate to wealth, or sink to poverty, whomsoever
they may desire thus to distinguish, must ever
be an object of serious and deserved jealousy;
for it is in vain that fundamental laws are esta-
blished for the security of property, if the arti-
ficial institutions created to facilitate its acquisi
tion, shall be permitted to disturb its just rela-
tions by exerting their power in subservience to
the passions or prejudices of local or party
strife. And hence, the very high obligation of
those who are charged with administering the
concerns of such an institution as the Bank of
the United States, to introduce into the arrange-

to derive political aid through the operations of
the bank. And though, under other circum.
stances than those which exist at present, such
an avowal would be unnecessary, I find myself
called upon explicitly to state that they would
learn with not less regret than that which has
prompted this communication, that any suppos-
ed political relationship, either favorable or
averse towards them, had operated with the
bank or any of its branches, either in granting
or withholding pecuniary facilities, which,apart
from that consideration, would have been dif-
ferently dispensed.
I am fully aware that the officers of a bank
must be considered the best judges of the
claims of applicants for its benefits, and that
their motives for refusing them are very liable
to be misunderstood. At the same time, it is
easy to practice the abuse now presented to a
considerable extent, under very colorable pre-
texts. It is difficult, therefore, to ascertain the
fact, or scan the motive, and, perhaps, the on-
ly safe guide to test the justice of such com-
plaints, is the public opinion of the vicinity
from which they emanate.
Having discharged the unpleasant duty of
presenting this important subject distinctly be.
fore you, together with the views of the admi-
nistration in relation to it, I take the occasion to
express the great satisfaction of the Treasury
Department at the manner in which the presi-
dent and directors of the parent bank have dis.
charged their trusts in all their immediate rela-
tions to the Government, so far as their transac-
tions have come under my notice, and especial.
ly in the facilities afforded in transferring the
funds of the Government, and in the prepara.

ment of its officers such checks and counterba-
lances as may be necessary to maintain a just
equilibrium in its movements.
The basis of credit are to be found in inte-
§. industry, economy, skill, and capital;and
that unity of action which may be necessary to
give efficiency and preserve harmony in the op-
erations of a bank, is essentially secured by
regarding these considerations alone as consti-
tuting the proper claim to the benefit of its
credit.
I cannot doubt that these views are in har.
mony witu those entertained by you and the
other gentlenen who are associated in the di-
rection of the bank. Nevertheless, I feel it
due to the relations which exist between this
department and that institution to present them
on this oc as on to your notice. *

tion for the heavy payment of the public debt
on the 1st instant, which has been effected by
means of the prudent arrangement of your
boatd, at a time of severe depression on all the
productive employments of the country, with-
out causing any sensible addition to the pres:
sure, or even visible effect, upon the ordinary
operations of the State banks.
I am, very respectfully,
Your obedient servant,
S. D. INGRAM,
Secretary of the Treasury
Nicholas BIpplk, Esq.
President Bank U. S. Philadelphia.

[confidential.]
Portsmouth, N. H.,

! will not uppose that you would, under any (Enclosure.) 27th June, 1829.

influence, intentionally permit the power of the

Drah Sin Your situation at the head of the

** to be on-do an instrument for the accom-streasury Department, and th -
- - - - - e deep intereo
Plinument of otger objects than those for which which the United states possess in i.concerns

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of the Bank of the United States, must be my apology for this intrusion. Toepresident of the branch at this place was changed last year," and the salary greatly increased; both which measures have given much dissatisfaction, as well to the public, as to many of the stockholders, The new president, Jeremiah Mason, is a particular friend of Mr. Webster, and his political character is doubtless well known to you. Mr. W. is supposed to have had much agency in effecting the change. The course pursued during the year, has greatly aggravated the original dislike to the appointment. Our commercial men are almost unanimous in their complaints, and the people in the interior, who were wont to be accommodated formerly at the branch, join with them in a desire for the remoyal of the present president. The objections to the continuance qf Mr. Mason in office are twofold—first, the want of conciliatory manners,and intimate acquaintance with our business men—and, secondly, the fluctuating policy pursued, in relation to both loans and collections at the bank, together with the partiality and harshness that accompany them. In making these general representations, I am repeating what are in the mouths of almost every citizen, of whatever political denomination, and am inviting, at the request of many, your influence at the mother bank in producing a change. Of course, my situation has been such as to deprive me of much personal knowledge of Mr. Mison's administration of the bank concerns; but never, on any occasion, have I known complaints so wide and bitter as in th ecase now under consideration. If any relief can be afforded by the selection of different directors for this branch, as any board without him in it, or with him, not at its head, would at once furnish relief; it is thought the interests of the bank, 2nd, consequently, of the United States, would not only render such a board proper, but induce you to communicate with some of the directors of the mother bank in favor of such a change. Any aid that you can with propriety furnish in the premises, will he likely to confer a great and lasting favor on this community, and to :* to the permanent welfare of the ank. With high consideration and respect, Your obedient servant, LEWI WOODBURY. Hon. S. D. INGRAM. P.S.. I understand the board is selected for this branch early in July.

mouth, and urging his removal. This communication has been submitted to the board of directors, who will not fail to examine the allegations of Mr. Woodbury, and, should they appear to be well founded, to apply an appropriate corrective. In the mean time, I take occasion to state, as an act of justice to Mr. Mason, that, so far as the facts within my own knowledge warrant any expression of opinion, Mr. Woodbury labors under great misapprehension. He says, for instanqe, “the president of the branch at this place was changed last year, and the salary greatly increased, which measures have given great dissatisfaction as well to the public as to many of the stockholders. The new president, Jeremiah Mason, is a particular friend of Mr. Webster, and his political character is, doubtless, well known to you. Mr. W. is supposed to have had much agency in effecting this change.” This statement naturally produced in your mind the impression that the charge against Mr. Mason “is partly founded on a supposed application of the influence of the bank with a view to political effect;” and the obvious inference from it was, that, under the influence of Mr. Webster, a former president of the office was removed to make way for Mr. Mason with an increased salary, and that this president was using the influence of the bank against the present administration. In answer, it is fit to say that this view of the subject is entirely erroneous, and perhaps the misapprehension of a gentleman of Mr. Woodbury's general intelligence is the best illustration of the extreme caution with which such statements should be regarded. For, 1st, The president of the branch was net changed. The late president, Mr. Shapley, voluntarily declined serving, without the slight. est intimation of a wish on the part of the bank, and solely, as he stated, “in consequence of his advanced age and declining health, together with his close confinement to the office, which prevents, in a great measure, his attention to his private business.” 2d. The salary of the new president was not increased a dollar. Mr. Mason was employed as the counsel of the bank, and an annual allowance was made to him in that capacity, which the bank would have been obliged to pay to any other lawyer, and which had no relation whatever to his other duties as president. 3d. Mr. Webster had not the slightest agency in obtaining for him the appointment. His nomination was resolved upon without the knowledge either of Mr. Webster or Mr. Mason, and the only agency of Mr. Webster, was, that, after the agent of the bank charged to make a choice had determined to recommend

[conrin ENTIAL.] BANK or ruz UNITED States, July 18, 1829. Dran Sim: ‘You have done me the honor of enclosing a letter from the Hon. Levi Wood. bury, Senator from New Hampshire, dated the 27th ult stating certain charges against the President of the office of this bank at Ports.

Mr. Mason, Mr. Webster was requested to endeavor to prevail upon him to serve; a request which the agent naturally made of Mr. Webster as a director of the bank. 4th. I am surprised that Mr. Woedbury should consider the complaints about Mr. Mason as having the remotest connexion with politics; and I am surprised for this reason: "Mr.

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on the same day he wrote a similar letterio me. I answered, thanking him for his suggestions, and requesting him to guide my inquires by stating wrat was the nature of the complaints agains. Mr. Mason. To this he replied on the 3 i in-tan', and that letter has the following declaration: “ From the confidential character of this let er, it is due in perfect frankness to state, ... that the president of the present board, as a po liticia, is no very acceptable to the majority in this town and State. But it is at the some time".otorious, that the charges against him, in his present office, originated exclusively with his political friends, and it was not till they creat-g a personal rancor and inflamed condition of th public mind, seldon if ever before witnessed in this region, that others interposed, from a supposed danger to the interests of both the town and the bank.” It appears, then, from Mr. Woodbury’s own statement, that, so far from employing the influence of the bank “with a view to political effec,” it is a no.orious fact, that the complaint- are made hy Mr. Mason’s own political - friends; so that, in truth, if there be any politics in the n atter, it is a question between Mr. Mason and pos icians of his own persuasion; that is to say, (for, after all, I suspect it will result in this,) at Mr. Mason has had the courage to do his duty whether he offends his political friends or not. H. may have done his duty too rigidly: that is a fit subject of examination, and shall be examined; but Mr. Woodbury’s own declaration to use seems to be irreconcilable with his letter to you. Having said thus much, I think it due, in further justice to Mr. Mason, to state to you the real situation of the whole matter. The office at Portsmouth had originally the misfortune to have at its head a Mr. Cutts, who ended by defraudug the United States of upwards of $20,000 of the pension fund, which the bank was obliged to replace, and last year the office was nearly prostrated in the general ruin which spread over that country. Out of $469,000 of loans, $148,000 was thrown under protest; still further protests were expected, and the actual loss Eustained there will not be less than $112,000. At this period, the late president, a worthy man, but not calculated for such a state of thigs, resigned his place, and it became necessary at once to adopt the most emergetic measures to save the property of the bank. A confidential officer was des: patched to Portsmouth, who found the affairs of the office in great jeopardy, covered with the wrecks which bad management, and the most extensive frauds, had occasioned. To retrieve it, it became necessary to select 9 man of the first rate character and abilities; such a man was Mr. Mason. Of his entire competency, especially in detecting the complicated frauds, and managing the numerous iaw suits which seemeu inevitable, there could

Woodbury wrote o yo” on the 27, of Jun sider to induce him to give up so much of his

valuable time to the service of the bank, an es: timate was made of the probable amount which we would have to pay for the professional ser. vices of a lawyer, and, by engging Mr. Mason in that character, we were enabled to obtain his consent to accept the appoin ment. Since he has been in office, he has been exceedingly useful—has saved the bank from great losses— h is secured the bad debts—nor, until Mr. Woodoury's letter, was I informed of any complaint against him. What is, moreover, to be inuch considered, is, that "while he has been gradually reducing the old accommodation loans, he has actually increased the amount of the general loans of the office. Thus when he went into the bank, August 25, 1828, the loans were— Notes discounted, Bills of exchange,

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302,695 50

In July 6th, 1829, Notes disdoun'ed, Bills of exchange,

198,601 44 122,263 33 320,864 77 which shows a conversion of a portion of the old permanent debt into the more active and useful form of business transactions. On the whole, I incline to think that it is a more question of the securing and reducing a part of the old debt, which ought never to ilave been incurred, and as there is obviously no political feeling connected with it, it is a matter of much delicacy to intefere with the operations of the board. Mr. Mason is only one member of that board, consisting of the same gentlemen who have had charge of the branch for many years; and even supposing him inclined to measures of extreme rigor, his colleagues, judging from the ordina. ry sympathies of our nature, would naturally be disposed to act with as much lenity towards their townsmen and neighbors as would be at all consistent with their duty to the bank. . I have run the risk of fatiguing you with these details, because I am anxious that you should understand the true state of the case, and because it furnishes a good example of the sort of reproach to which the officers of the bank are often liable. I shall be happy to hear from you whenever you obtain the communications from Kentucky and Louisiana, which shall receive immediate attention : and, in the mean time, I remain, very respectfully, your's, - N. Biddle, Pres. Hon. S. D. INGHAM, Sec. of the Treasury, Washington.

[confide NTIAL ] BANK of THE UNITED STATRs, July 18th, 1829. DeAn SIR : I have had the honor of receiv

pe no doubt. Of his political opinions, we sing your confidential letter of the 11th instant, neither knew not inquired any thing. In or-reserving for the separate communication en

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