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(title 17, U. S. Code).
BIDDLE, N[ICHOLAS]. Letter as President of the Bank of the United States, to Charles W. Wells, Cashier, Office of Discount and Deposit, BUS branch in New Orleans, Oct. 31, 1825. 1 p., conjugate leaf addressed. Sm. 4to. In ink. Signed "N. Biddle." Very neat & legible. 8vo. $750.00
Notifies Wells that the board of the bank has begun an investigation into his conduct on certain transactions and that he is to be suspended in the interim. Requests Wells own views of the transactions in question, and expresses hope that Wells will be absolved.
The Biddle papers are deposited at the Library of Congress. Not in McGrane's 1919 edition of Biddle's correspondence.
This incident, and a scandal at the New Orleans bank, is unmentioned by Govan, Nicholas Biddle: Nationalist and Banker. However, in the autumn of 1825 there was a sudden shortage of specie following a speculative binge and a new bank in New Orleans was among the stricken institutions. Biddle gave the bank a draft on the New Orleans branch of the BUS rather than the usual draft on Philadelphia funds in order to stabilize the N.O. bank quickly.