flow from occasional correspondence between ministration either knew or approved it. With the public servants" here, and the "public great respect for the motives which prompted servants" in your board, it is presumed that the him as a public officer, I can neither assume most wary sensitiveness would lack cause for the merit, nor incur the responsibility of the disquietude. I am not the less gratified with fact.

these results, as may well be imagined, at find- You farther take occasion, twice in the course ing them sustained by the test of public opi of your letter, to consider avowed by me, a nion," which I took occasion to refer to, with sentiment utterly alien to my feelings and judg some confidence, as a safe guide in the investiment, inconsistent with my uniform language; gation of matters of that character. and preposterous in principle. "Your reply

I had thought my objects and sentiments so (says you) of the 23d of July, treats the exemp plainly conveyed, and indeed your recognition tion from political bias, as a mora! impossibiliof them so forcibly and flatteringly expressed, [ty." Again: "You give it as your deliberate that no danger of subsequent misrepresentation opinion, that such is the power of party feelwas to apprehended. When, in reply to my ings, that it is morally impossible for any five letter of the 11th of July, you were obliging hundred American citizens, carefully selected enough to say, that my "good judgment had in small responsible bodies, and the greater indicated the true theory of administering the part of whom have sworn, as I have, to execute bank;" that my "clear and sound principles their duty faithfully, and not to betray their contained the whole elements of the system of the trusts, by granting or refusing loans, from polibank, and its true relation to the Government;" tical partiality or hostility" Stating this as my and that "the real nature and interests of the written sentiment, you are pleased to denounce institution are perfectly understood and appreci- it, both eloquently and justly. If you will turn ated by the present administration," it was im- to the paragraph which has been thus strangely possible not to be pleased at the prospect of disc lore, and repeat it to our board, my rejustly and harmoniously transacting what, spect for their sense of justice and fairness, perthough a measure of public duty, was certainly suades me that they will regret having precipiof a delicate and disagreeable character. This tately and unadvisedly sanctioned the converpleasure was promptly and unaffectedly confes- sion of an immutable truism into an opinion as sed in my letter, addressed to you under date of abhorrent in the abstract, as it is unnatural to the 23d of July, and, notwithstanding a careless me. These are my words: "Impressed with phrase inserted in the reply, written and rans- these truths, which may indeed be considered mitted to me during your absence, it remained undeniable, I was not prepared for so confident undimished, until the receipt of the one I am an assertion of the universal purity of the bank now noticing. Unwilling to suppose, for a mo- and all its branches, in practice as well as prinment, that you can have either an inclination or ciple, as is to be found in your letter; and, motive to do me, individually or officially, a while I would scrupulously forbear to assume wrong, the unexpected transition from confi-any fact derogatory to the character of your dence to suspicion, from complimentary inter- board, or those of the branches, it is not deemcourse to a jealous assertion of corporate chased incompatible with the most rigid justice, to tity, by which your last is characterised, how-suppose that a body of five hundred men, not ever unaccountable, I would gladly interpret selected by an Omniscient eye, cannot be fairly most favorably to your character for intelligence entitled to the unqualified testimony which you and consistency, in the comments I have to make have been pleased to offer in their behalf. It upon what are ostensibly the hinges of this in-is morally impossible that the character of all tellectual revolution. These, however, will the acts of the directors of the branches, much be made with "uareserved freedom," not less their motives, could be known to the padoubting that further reflection will enable you rent board: hence, the declaration that no loan to perceive that you have gratuitously attribut- was ever granted to, or withheld from any ined to me, and, through me, to the administra- dividual, on account of political partiality or tion, certain acts, without knowing whether we hostility, must be received rather as evidence sanctioned them or not, and that you have un-of your own feelings, than as conclusive proof intentionally distorted, by partial quotations, of the fact so confidently vouched for." the natural and obvious meaning of expressions The ability of the parent board, to know in my former letter. Having done this, I will the character of all the acts of the directors of proceed to your general theories respecting the the branches, and their motives, is physically, connexion subsisting, by law and in practice, as well as morally impossible: were it otherbetween the Government and the bank. wise, how should we limit the shame of the The communication made to the Bank of the enormous frauds which have signalized some United States by Mr. Isaac Hill, accompanying of your subordinates? And a volunteer affirtwo memorials, was wholly unknown to me, un- mation of their universal purity, to their freetil I saw it adverted to in your letter. It was of dom from ordin ry feelings, passions, and vices a nature distinct from an official act, notwith- of human nature, made prior to an investigation standing his having described himself as "Se- on a particular charge of culpability, may indicond Comptroller of the Treasury." It is to be cate a liberal confidence, but cannot be acregretted, that, before invoking his language as cepted as evidence of innocence. shade for ground-work of your picture, an effort That men may, and often do act with ex. had not been made to ascertain how far the ad emption from improper bias, in the discharge

Al

of the trust confided to them, is indisputable, In the phraseology, too, of the action of the but it is equally true, however, that they Government upon the bank, you have imagindo not always thus act; and it will not be de-ed some unexplained and mysterious pretennied, that, to remove the motive and destroy the sions implied. The words, when violently torn power to commit an abuse, are the most desir from their context, may convey to the imaginaable, as well as effectual preventives. That he tion an idea big with the fate of corporate inwho now writes, habitually and fearlessly, trusts violability, and teeming with corruption; but in the readiness as well as capacity to "execute restore them to their right place, and they deduty faithfully," with "an exemption from po- fy misconstruction. The principles suggested litical bias," is strongly exemplified in the un-in my letter of the 11th July, indica ing the disguised manner in which, on behalf of some views of the Treasury Department as to the complaining fellow citizens, he has appealed to proper duties of the bank, met with your corthe justice and integrity of the existing direc-dial and unqualified approbation, which was retors of the Bank of the United States. sponded in uo measured terms of eulogy. A casual suggestion in my first letter, as to low me to repeat them: "my good judgment the most effectual mode of averting the perni- had indicated the true theory of administering cious tendency of party spirit, and defending the bank," that my "clear and sound princithe character of the bank from the imputation ples contained the whole elements of the system of of it, seems now to be seen through a new me. the bank, and its true relation to the Government;" dium, and to furnish evidence of some fearful that "the real nature and interests of the institupurpose of interference in the election of offi- tion are perfectly understood and appreciated” cers of the bank, but, for the importance which by the administration, &c. &c. you have given the remark, I should not feel The reply, in my letter of the 23d July, to excused for occupying a moment of your time, this part of yours, contains the expression that to show that you have erred, not less in the con- seems to have awakened your sensibility for ception of my purpose, than the propriety of the independence and purity of the bank. It the suggestion. Indulging an anxious wish is as follows: "I am gratified to find so entire that your institution should not only be pure, a concurrence in our opinions as to the princibut beyond suspicion, I intimated, not "a for- ples which cught to govern in the administramal declaration as to the political opinion and tion of the affairs of the bank. When princiconduct of the officers," but what every one ples are thus cordially settled, there is much knows to be true, that "checks and counter-reason to expect that every material error of balances are necessary to obtain a just equili-practice, will, in time, be properly corrected, brium" in all moving bodies. and there can be no doubt that while the action

The proposition was not only undeniable in of the Government upon the bank, and that of the abstract, but in perfect conformity to the the bank upon those within the sphere of its inseverest rules of justice and policy, and influence, shall be practically regulated by these strict analogy with the principle which requires principles, the institution will not fail to sethe impartial selection of every tribunal, which cure the great ends for which it was establishtries the property, liberty, or life, of a fellow ed." I forbear to offer any further comment being; but, in the present case, the suggestion, upon the use you have been pleased to make of coming through any other channel, must have the abducted phrase, and proceed to consider had, in your estimation, even stronger recom- its character even in the naked form it has been mendations than these. It happened to be in made to assume.

conformity with your own expressed views of The Government of this nation is presumed the true theory of selection as prescribed in the to act, directly or indirectly, obviously or incharter, for you have justly remarked, that one sensibly, upon all who enjoy its blessings or great foundation of confidence in the upright-submit to its control. In conducting the business of the bank, was based in the "variety in ness of the people, it acts visibly through rethe composition of the body." I apprehend it cognized officers, upon those in any manner would not be material as to the mode by which connected with that business; and while the "this variety” was effected: in such matters first general action is modified and restricted forms are nothing, substance every thing. Nor by settled principles, the great system of pure have I been able to see the force of your argu- and free institutions is preserved unimpaired. ment against such a policy, founded on the sup- The bank cannot, if it would, avoid the "acposed necessity of changing your officers to suit tion of the Government" in all its legitimate the political views of successive administrations, operations and policy, however disposed it inasmuch as "the variety in the composition of might be, after calculating the immensity of its the body," being made a part of the system coffers, and the expansion of its power, to asnecessary to safety, would require no change sert a superiority or insensibility to such action. to suit the legimate purposes of any party. 1 The pretension could only excite a smile; comcannot but be gratified with every rational as-pared to the Government, the bank is essensurance, that the selections of your officers tally insignificant. I make these remarks with have been so " entirely" successful, and at re- no view to disparage the real importance and ceiving any evidence tending to weaken the dignity of your institution; nor to insinuate that force of complaints as to the alleged partisan the highly respectable citizens, by whom its organization and persecuting disposition of wealth is wilde 1, do now, or ever have ensome of your branches. tertained projects of ambition; but to enable