Democratic Sentinel, Volume 8, Number 36, Rensselaer, Jasper County, 3 October 1884 — From Adams to Blaine. [ARTICLE]

From Adams to Blaine.

Some time ago we directed attention to the honesty of John Quincy Adams, as shown by a little transaction in bank stock. When ex-President Adams was about to re-enter public life as a member of Congress lie foresaw that he might be called upon to vote with reference to a renewal of the charter of the Bank of the United States, the only national bank of those days. He owned some of that bank’s stock, and he sold it without delay. We compared that act and the reasons assigned for it by Mr. Adams with the course taken by James G. Blaine, Speaker of the House of Representatives, in the Lit:tle Rock and Fort Smith matiter; and quoted the shameful ‘deadhead’ letter. The publication of the additional letters written by Blaine to Warren Fisher, Jr., and Josiah Caldwell revealed the fact that Blaine, like exPresident Adams, had ideas about national banks and the duties of a Congressman with reference thereto. Blaine’s ideas concerning these subject were not, however, like those of Mr. Adams- The eminent statesman who served his country so faithfully wrote as follows three days before taking his seat in the House: Philadelphia, 9th. I called upon Nicholas Biddle at the United States Bank and received two dividends of my bank stock, by an order upon the branch bank at Washington. I left with Mr. Briddle&ir certificate of stock to "be sold 7 and the proceeds to be remitted according to such directions as I may give. 1 told him that, as i mighl be called to take a part in public

measures concerning the bank and was favorable to it, I wished to divest myself of all personal interest in it. Thirty-eight years later James 6. Blaine, Speaker of the House of Representatives, wrote the following letter to Warren Fisher, Jr.: Augusta, Me.. 18th Nov., 1869. My Dear Mr. Fisher: It is quite evident to my mind that at the approaching session of Congress there will be an exansion of currency to the pmount of fifty or seventy-five millions of dollars. The form it will take, I think, will be an addition to the National Bank circulation, West and South. My object in writing is to ( ask in season if your friends | would desire to esteblish a bank at Little Rock. It will be to some extent a matter of favoritism as to who gets the banks in the several localities, and it will be in my power to ‘cast an Anchor to the Windward’ in your behalf if you desire it. Please think over the matter and confer with Mr. Caldwell, and let me know your desire as soon as you reach any conclusion. There is, of course, no special hurry, but • thought I would snggc&t the matter in order that you might mature your thoughts in good time. It would be well to determine the amount to which you might wish to go. I suppose it might be practicable to secure a $500,000 bank; but in that locality you wonld hardly wish to go so deep. But they are very profitable insti tutions—say $250,000, Yours very truly, J. U. Blaine. Warren Fisher, Jr., Esq. There they are —on the one hand the honest old statesman who died at his post, and on the other hand the jobber.