Editing Langdon Cheves (section)

===Election===
In December 1818, Charleston stockholders in the Second Bank asked Cheves for his permission to propose his name for the Bank presidency at the upcoming board meeting, and he consented.{{sfn|Huff|1977|pp=96–101}} Cheves was himself a founding but inactive member of the board of the Charleston branch, who later described himself as "ignorant and unapprehensive of the situation of the bank."{{sfn|Huff|1977|pp=102–08}}

His Charleston supporters enlisted the powerful support of [[Stephen Girard]] of Philadelphia and [[Alexander Brown (banker)|Alexander Brown]] of Baltimore. They elected Cheves to the board of the directors on January 5, 1819, but with no desire for a divisive leadership fight, failed to unseat Jones as president. Cheves accepted his seat with hopes that he would be elevated in 1820 when Jones, then ill, retired. Instead, Jones and the board were indicted by a House select committee chaired by [[John Canfield Spencer]] for violations of the Bank charter, poor management, and speculation. Jones resigned in disgrace on January 21. Cheves was his natural successor; he briefly considered, but declined, the chance to succeed [[William Johnson (judge)|William Johnson]] on the U.S. Supreme Court and accepted the presidency on February 15 and was sworn in on March 6.{{sfn|Huff|1977|pp=102–08}}