It does not show whether they were in truth accommodations
granted in the regular and ordinary course of business upon fair banking
principles or from other motives. Under the name of loans advances may
be made to persons notoriously insolvent for the most corrupt and
improper purposes, and a course of proceeding may be adopted in
violation of its charter, while upon the face of its monthly statement
everything would appear to be fair and correct.
How, then, is the executive branch of the Government to become
acquainted with the official conduct of the public directors or the
abuses practiced by the corporation for its private ends and in
violation of its duty to the public? The power of displacing the public
directors and that of issuing a _scire facias_ and of removing the
deposits were not intended to be idle and nugatory provisions without
the means of enforcement. Yet they must be wholly inoperative and
useless unless there be some means by which the official conduct of the
public directors and the abuses of power on the part of the corporation
may be brought to the knowledge of the executive department of the
Government.
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