Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1823 edition. Excerpt: ...these persons by the terrors of a protest, to pay the discounts on the renewals of their notes, while they yet had the means, instead of adding them to the debt, by including them in the renewed notes. Hence it is perfectly clear, upon the best established principles of law, that having enabled themselves by falsehood concealment and imposition, to retain tins interest, and to get and preserve the opportunity and the means of retaining it, they cannot be allowed to excuse themselves, by shewing, if they could shew, that it was their intention to pay it at some time or other, when it might happen to suit their convenience and their inclinations. But they could not shew it, if the law would allow them to do so. The contrary is manifest; as I now proceed to prove. I proceed to prove, that as to any considerable part of this interest, they never intended to pay it, any more than the principal. And Twill remark in the first place, that the studied omission of a man to do that which he ought to do, when he has it fully in his power to do it, is very strong evidence, if not the strongest, of his intention not to do it at all. Now what was the situation of James A. Buchanan, when he retained and added to the mass of his debt, or rather of the common debt of the association, a large part of this interest? One addition, that of g5000, was made on the 1 st of December, 1817, (a) the very day when United States Bank stock, as appears by the testimony of Mr. Colt, (b) was selling at 8l50per. share. This association had then purchased from Dennis A. Smith alone 19, i40 shares, at an average of less than 8l, tO; fc) and t.iking the average at 8 130, their profits amounted to 8398,000. Stock afterwards rose higher; for on the 30th of December, 1817, as.