Robert Smith TO Biddle

Confidential Washington Dec. 13, 1830 Dear Sir

I gathered from a conversation with Major Lewis, of the President's family, that altho' the President is decidedly in favor of a Bank such as he recommended to Congress, yet if a bill were to pass both houses, renewing the charter of •the Bank U States with certain modifications, the President would not with hold his approval. What these modifications were, I could not distinctly understand; but I believe that the principal one was to take from the Bank the right of establishing branches in the states, unless with the consent of the states, & it was intimated that a provision of the kind would really be beneficial to the Bank, in as much as our career if the jealousy with which the States regard the Bank would be removed, & it was not doubted but that sooner or later every state would solicit the establishment of a Branch. It was also intimated that the holding of real estate by the bank was very objectionable. The right to do so however, is so essential to the safety of the Bank, that it cannot be perceived how the relinquishment of it can be yielded. . . .