The agent
made an arrangement on terms, in part, which were in direct violation
of the charter of the bank, and when some incidents connected with this
secret negotiation accidentally came to the knowledge of the public and
the Government, then, and not before, so much of it as was palpably in
violation of the charter was disavowed. A modification of the rest was
attempted with the view of getting the certificates without payment of
the money, and thus absolving the Government from its liability to the
holders. In this scheme the bank was partially successful, but to this
day the certificates of a portion of these stocks have not been paid and
the bank retains the use of the money.
This effort to thwart the Government in the payment of the public debt
that it might retain the public money to be used for their private
interests, palliated by pretenses notoriously unfounded and insincere,
would have justified the instant withdrawal of the public deposits.
The negotiation itself rendered doubtful the ability of the bank to meet
the demands of the Treasury, and the misrepresentations by which it was
attempted to be justified proved that no reliance could be placed upon
its allegations.
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