The truth of the facts stated in these reports is not, I presume,
questioned by anyone. The high character and standing of the citizens
by whom they were made prevent any doubt upon the subject. Indeed, the
statements have not been denied by the president of the bank and the
other directors. On the contrary, they have insisted that they were
authorized to use the money of the bank in the manner stated in the two
reports, and have not denied that the charges there made against the
corporation are substantially true.
It must be taken, therefore, as admitted that the statements of the
public directors in the reports above mentioned are correct, and they
disclose the most alarming abuses on the part of the corporation and the
most strenuous exertions on their part to put an end to them. They prove
that enormous sums were secretly lavished in a manner and for purposes
that can not be justified, and that the whole of the immense capital
of the bank has been virtually placed at the disposal of a single
individual, to be used, if he thinks proper, to corrupt the press and
to control the proceedings of the Government by exercising an undue
influence over elections.
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