Mr. Belasies, a gentleman, a man of education and fortune, by birth an Englishman, has come out with his family to reside in this country. If he should apply for leave to hold lands in this state, I hope he may be gratified; from the little I have seen, and the much I have heard of him, I am persuaded that he will be a valuable acquisition to any state and to any society. He is no politician.
I return to-morrow to Philadelphia, where I shall remain for this month. May l expect to see you here in the spring? Present me most respectfully to Williamson, and be assured of my esteem and attachment.
A. BURR.
In April, 1798, Colonel Burr was elected a member of Assembly for the city and county of New-York by the democratic party. This year was marked with more political virulence than any other year since the independence of the country. It was during the year 1798 that the alien and sedition laws were passed. In the autumn of 1798, Matthew Lyon, then a representative in Congress from Vermont, was endicted for harbouring an intention "to stir up sedition, and to bring the president and government of the United States into contempt," &c. He was convicted, and the sentence was—"Matthew Lyon, it is the pleasure of this court that you be imprisoned four months, pay costs, and a fine of one thousand dollars, and stand committed until the judgment be complied with." This year the celebrated mission to France, consisting of Messrs. Marshall, Pinckney, and Gerry, excited the attention not only of the American people, but of the civilized world. In short, this year the foundation was laid for the overthrow of federal power in the United States.
In no section of the country was there more political excitement than in New-York. Parties were nearly balanced. There were only two banks in the city; the Bank of New-York, and the branch of the United States Bank. They were charged with being influenced in their discounts by political considerations. At all events, they were under the management and control of federalists; and to counteract their alleged influence, Colonel Burr was anxious for the establishment of a democratic institution. With this view he proposed to obtain a charter for supplying the city with water; and as it was certain that if confined to that particular object the stock would not be subscribed, he caused the application to be made for two millions of dollars, and inserted a clause in that charter, that the "surplus capital might be employed in any way not inconsistent with the laws and constitution of the United States or of the State of New-York." It is under this clause that the Manhattan Company use and exercise all the privileges of a bank. The directors were named in the charter, and a majority of them were of the democratic party.
It has been said that the charter was obtained by trick and management; and that, if suspicion bad been entertained by any of the federal members, Colonel Burr could not have got the bill through the legislature. It is due to him, so far as it can be justly done, to rescue his memory from the imputation of having misrepresented or misstated to any member the object he had in view. The facts in reference to the passage of the charter of the Manhattan Company through the Senate will now be given. The statement is upon authority that cannot be contradicted.
When the bill had passed the Assembly and was sent to the Senate, Colonel Burr, during the hours of business, went into the Senate Chamber, and requested a federal senator (now living) from the western district to move a reference of that bill to a select committee, to report complete, which would supersede the necessity of its going to a committee of the whole. The senator replied, that though he had no objection to make the experiment, yet that he was persuaded the motion would not prevail, because the Senate, not having a press of business before them, uniformly refused thus committing bills to select committees instead of a committee of the whole. Colonel Burr then suggested, that perhaps if the mover would intimate, while on the floor, that the honourable Samuel Jones was contemplated as chairman of that committee, the confidence which the Senate was known to repose in him, and in his uniform attention to every thing relating to the city of New-York, would perhaps induce the Senate on this occasion to depart from its accustomed mode of proceeding. Accordingly the motion was made, and passed without opposition.
The committee named by the honourable Stephen Van Rensselaer, then lieutenant-governor, were Samuel Jones, Ambrose Spencer, and Thomas Morris. It was suggested to one of these gentlemen that the part of the bill authorizing the employment of the surplus capital had better be stricken out of it; in consequence of which that gentleman applied to Colonel Burr for an explanation on this point. Mr. Burr promptly and frankly informed the honourable member, that it not only did authorize, but that it was in tended the directors should use the surplus capital in any way they thought expedient and proper. That they might have a bank, an East India Company, or any thing else that they deemed profitable. That the mere supplying the city with water would not, of itself, remunerate the stockholders. Colonel Burr added, that the senator was at liberty to communicate this explanation to other members, and that be had no secrecy on the subject. The bill was subsequently reported by Mr. Jones and passed.
This view of the proceedings of the legislature is sustained by what occurred in the Council of Revision, from the minutes of which an extract has been made.
"At a meeting of the Council of Revision, held at the City Hall of the City of Albany, on Monday, the 1st of April, 1799.