DOWNFALL OF THE BANK OF THE UNITED STATES.
When the author of the Æneid had shown the opening grandeur of Rome,
he deemed himself justified in departing from the chronological
order of events to look ahead, and give a glimpse of the dead
Marcellus, hope and heir of the Augustan empire; in the like manner
the writer of this View, after having shown the greatness of the
United States Bank--exemplified in her capacity to have Jackson
condemned--the government directors and a secretary of the treasury
rejected--a committee of the House of Representatives repulsed--the
country convulsed and agonized--and to obtain from the Senate of the
United States a committee to proceed to the city of Philadelphia
to "wash out its foul linen;"--after seeing all this and beholding
the greatness of the moneyed power at the culminating point of its
domination, I feel justified in looking ahead a few years to see
it in its altered phase--in its ruined and fallen estate. And this
shall be done in the simplest form of exhibition; namely: by copying
some announcements from the Philadelphia papers of the day. Thus: 1.
"Resolved (by the stockholders), that it is expedient for the Bank
of the United States to make a general assignment of the real and
personal estate, goods and chattels, rights and credits, whatsoever,
and wheresoever, of the said corporation, to five persons, for
the payment or securing of the debts of the same--agreeably to
the provisions of the acts of Assembly of this commonwealth
(Pennsylvania)." 2. "It is known that measures have been taken to
rescue the property of this shattered institution from impending
peril, and to recover as much as possible of those enormous bounties
which it was conceded had been paid by its late managers to trading
politicians and mercenary publishers for corrupt services, rendered
to it during its charter-seeking and electioneering campaigns."
3. "The amount of the suit instituted by the Bank of the United
States against Mr. N. Biddle is $1,018,000, paid out during his
administration, for which no vouchers can be found." 4. "The
United States Bank is a perfect wreck, and is seemingly the prey
of the officers and their friends, which are making away with its
choicest assets by selling them to each other, and taking pay in
the depreciated paper of the South." 5. "Besides its own stock of
35,000,000, which is sunk, the bank carries down with it a great
many other institutions and companies, involving a loss of about
21,000,000 more--making a loss of 56,000,000--besides injuries to
individuals." 6. "There is no price for the United States Bank
stock. Some shares are sold, but as lottery tickets would be. The
mass of the stockholders stand, and look on, as passengers on a
ship that is going down, and from which there is no escape." 7. "By
virtue of a writ of _venditioni exponas_, directed to the sheriff of
the city and county of Philadelphia, will be exposed to public sale
to the highest bidder, on Friday, the 4th day of November next, the
marble house and the grounds known as the Bank of the United States,
&c." 8. "By virtue of a writ of _levari facias_, to me directed,
will be exposed to public sale the estate known as 'Andalusia,'
ninety-nine and a half acres, one of the most highly improved places
in Philadelphia; the mansion-house, and out-houses and offices,
all on the most splendid scale; the green-houses, hot-houses, and
conservatories, extensive and useful; taken as the property of
Nicholas Biddle." 9. "To the honorable Court of General Sessions.
The grand jury for the county of Philadelphia, respectfully
submit to the court, on their oaths and affirmations, that certain
officers connected with the United States Bank, have been guilty of
a gross violation of the law--colluding together to defraud those
stockholders who had trusted their property to be preserved by them.
And that there is good ground to warrant a prosecution of such
persons for criminal offences, which the grand jury do now present
to the court, and ask that the attorney-general be directed to send
up for the action of the grand jury, bills of indictment against
Nicholas Biddle, Samuel Jaudon, John Andrews, and others, to the
grand jury unknown, for a conspiracy to defraud the stockholders in
the Bank of the United States of the sums of, &c." 10. "Bills of
indictment have been found against Nicholas Biddle, Samuel Jaudon
and John Andrews, according to the presentment of the grand jury;
and bench warrants issued, which have been executed upon them."
11. "Examination of Nicholas Biddle, and others, before Recorder
Vaux. Yesterday afternoon the crowd and excitement in and about the
court-room where the examination was to take place was even greater
than the day before. The court-room doors were kept closed up to
within a few minutes of four o'clock, the crowd outside blocking
up every avenue leading to the room. When the doors were thrown
open it was immediately filled to overflowing. At four the Recorder
took his seat, and announcing that he was ready to proceed, the
defendants were called, and severally answered to their names, &c."
12. "On Tuesday, the 18th, the examination of Nicholas Biddle and
others, was continued, and concluded; and the Recorder ordered, that
Nicholas Biddle, Thomas Dunlap, John Andrews, Samuel Jaudon, and
Joseph Cowperthwaite, each enter into a separate recognizance, with
two or more sufficient sureties, in the sum of $10,000, for their
appearance at the present session of the court of general sessions
for the city and county of Philadelphia, to answer the crime of
which they thus stand charged." 13. "Nicholas Biddle and those
indicted with him have been carried upon writs of _habeas corpus_
before the Judges Barton, Conrad, and Doran, and discharged from
the custody of the sheriff." 14. "The criminal proceedings against
these former officers of the Bank of the United States have been
brought to a close. To get rid of the charges against them without
trial of the facts against them, before a jury, they had themselves
surrendered by their bail, and sued out writs of _habeas corpus_
for the release of their persons. The opinions of the judges, the
proceedings having been concluded, were delivered yesterday. The
opinions of Judges Barton and Conrad was for their discharge; that
of Judge Doran was unfavorable. They were accordingly discharged.
The indignation of the community is intense against this escape from
the indictments without jury trials."