Answer. It was done, I think, by the Exchange Committee. We had various letters at the time, before us, from highly respectable sources, which were altogether satisfactory.

Question by Mr. Thomas. Do you recollect the names of the writers of the letters of which you speak?

Answer. I recollect the name of Walter Bowne whom I have known for thirty years. His letter was either before us, or was referred to.

Question by Mr. Thomas. Are you certain there were any other letters before the committee besides those of Walter Bowne, M. M. Noah, and J. W. Webb?

Answer. I am not certain,

Question by Mr. Thomas. Is the letter now produced, dated 5th August, 1831, (marked ) the letter of Walter Bowne to which you allude? Answer. It is.

Question by Mr. Cambreleng. Was there any collateral security required by the bank?

Answer. There was not. The security was deemed sufficient.

Question. Do you know whether either of the directors of the parent bank residing in New York, or the president or either of the directors of the branch there, was consulted as to the standing of J. W. Webb and M. M. Noah?

Answer. No, unless Mr. Bowne may be considered as one. not in the habit of doing so.

We are

Question by Mr. Cambreleng. Have you any knowledge of the discounting of ten notes, on the 2d January last, drawn by M. M. Noah, and endorsed by J. W. Webb, amounting, in the aggregate, to $17,975, and payable in April and October, in the years 1832, 3, 4, '5, '6?

Answer. I do not recollect whether I was present when they were discounted. I think I was not, though I may have been present. Although it is recent, yet there are so many transactions of the kind before us, that I cannot recollect each one. I have no recollection of the dates. That they were discounted, I have no doubt. The president of the bank never exercised the power of discounting notes. Some banks give the power to the president and cashier. In this bank, the president has no such power, and has never, to my knowledge, exercised it.

Question by Mr. Cambreleng. Were the discounts of the 2d and 14th March, for Silas E. Burrows, made by the Exchange Committee?

Answer. Yes; I believe all the committee were present.

Question by Mr. Cambreleng. You have said you have not a distinct recollection of the discount on the 2d January, of notes to the amount of $17,975. Have you any knowledge of the existence of any collateral security for those notes?

Answer. No.

Question by Mr. McDuffie. What is your opinion of the pecuniary responsibility of Silas E. Burrows?

Answer. I think him a very able and responsible man. My house has had considerable transactions with him; and the inquiries I have made in New York, as to his solidity, have been highly satisfactory.

Question by Mr. McDuffie. Would you not place implicit confidence in the recommendation of Walter Bowne as to the responsibility of persons applying for loans?

Answer. Yes; as much as any man in New York. I have known him personally for nearly thirty years.

Doc. 50.

Examination of John Andrews-March 31.

Question by Mr. Cambreleng. What office do you hold in the bank? Answer. I am first assistant cashier.

Question by Mr. Cambreleng. Have you the charge of the discount and exchange book; and do you attend on the board when in session?

Answer. Yes.

Question by Mr. Cambreleng. Have you any knowledge of the discount of J. W. Webb and M. M. Noah's note, on 9th August, 1831, at 6 months, for $20,000?

Answer. I have no particular recollection of this note; but, from the appearance of the book, I should suppose it came before the board.

Question by Mr. Cambreleng. When a note is submitted to the board and discounted, what mark do they affix to it?

Answer. All notes that are put on the books on the day previous, are regularly passed by the board, and, if discounted, are marked A. Those that come in on the morning of the discount day, are sent in to the board without being put on the books, and are not, of course, marked on the books when discounted.

Question by Mr. Cambreleng. Have you any knowledge of the discount of a note drawn by M. M. Noah and J. W. Webb, and discounted for J. Watson Webb & Co., on 16th December, 1831, dated 13th December, at 6 months, for $15,000?

Answer. I have not, but suppose, from the style of the entry on the book, it must have been done after the meeting of the board.

Question. Have you any knowledge of the discounting, on the 2d January last, of ten notes drawn by M. M. Noah and J. Watson Webb, amounting, altogether, to $17,975, and payable in April and October, of the years 1832, 3, 4, 5, 6?

Answer. They appear from the books to have been discounted by the Exchange Committee.

Question by Mr. Cambreleng. Were those notes discounted for J. Watson Webb?

Answer. It would appear so from the books.

Question by Mr. Cambreleng. Was there in the possession of the bank any other than the personal security of J. Watson Webb and M. M. Noah, for the notes referred to, amounting, altogether, to $52,975?

Answer. I do not recollect any other.

Question by Mr. Cambreleng. Is it your duty to take charge of all the securities Ldged in the bank?

Answer. It is.

Re-examination of John Andrews.

Question by Mr. Cambreleng. State to the committee at what time, and by whom the following notes were withdrawn from the bank: M. M. Noth and James Watson Webb's note, payable to, and endorsed by James Waitson Webb & Co., dated 13th December, 1831, at 6 months, for $15,000?

Ten notes drawn by M. M. Noah, and endorsed by James Watson Webb, amounting in the aggregate to $17,975, and payable in the months of April and October, 1832, 3, 4, 5, 6?

Answer. The note of $15,000 was paid in this way: 6,000 were paid on the 18th instant, and the balance on the 15th instant. These payments were made by a draft received at this bank, from our office at New York, in favor of James Watson Webb, endorsed to Mr. Biddle's order, for $600: and another on the 15th, of the same character, for $8,800, (a deduction being made for interest on the unexpired time.) These two drafts paid the

note.

Question by Mr. Cambreleng. Was either of the notes offered by J. W. Webb, on the 9th August, and 16th December, 1831, and the 2d January, and 10th February, 1832, ever regularly entered on the discount book of the bank, as notes are usually entered, on the day previous to the meeting of the board?

Answer. No: I believe they were not. They were not, because they were brought in afterwards.

Question by Mr. Cambreleng. What is the usual term to which discounts are limited?

Answer. There is no general rule as to time. It depends on circumAt this time, the usual limit is four months.

stances.

Doc. 51.

OFFICE OF BANK UNITED STATES,

Washington, May 9, 1832.

SIR: In answer to your verbal inquiry, I have the honor to state that. the advances made during the present session of Congress, in anticipation of the appropriations, are as follows, viz.

For the pay and contingent expenses of the two Houses of

Doc. 52-No. 1.

OFFICE BANK UNITED STATES,

Washington, May 14, 1832.

SIR: I have received your letter of this date, stating that the committee of the House of Representatives, appointed to examine the books and proceedings of the Bank of the United States, had adopted resolutions, calling on the branch to furnish the committee with the names and amounts of payments to members of Congress, in anticipation of their pay as members, before the passage of the general appropriation bill; and the amount of money due the United States, and on deposite in the bank, after deducting the sums thus advanced to those to whom the United States are indebted; and, for this information, the president of the bank referred the committee to the Branch Bank at Washington.

I have now the honor to enclose a statement, showing the advances to the members of the House of Representatives, and regret that it is not in my power to give similar information with respect to the advances made to the individual members of the Senate. The checks of the Secretary of the Senate have been given up to him on the settlement of his bank book, and I have no means of giving the information, except by reference to the book. The aggregate amount paid to the Senators, is $14,635 60.

also enclose a statement, giving the information required under the second resolution.

I am, sir, with much respect,
Your most obedient servant,

The Hon. JOHN Q. ADAMS,

RD. SMITH, Cashier.

House of Representatives.