The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-03-12


Porate poSsers Of the Bank, for a further period
&c enable it TO settle such Of its concerns as may
be depending the Sd of March, 1871, rcseect
JuH. cFers for the consideration q the .SenatS,
theJoic ssiag
REPORT
I" That yoGr committee have duly weighed
| the contents of the memorial, and deliberately
attended to such explanations of the views of the
| memorial,sts as they have thought proper to pre-
sent through their agents That holding the o.
pnion Gas majority of the committee dol that
the constitution did not authorize Congress ORR
g'nally to grant the charter, it follows, as ne
cesssry consequence of that opinion, that an ex
tension of it, even under the restrictions coniem.
plated by the stockholders, is equally repug
nant to the constitution. But, lift were possible
to surmount this fundamental objection and if
tina, rule which forbids, during the same session
OF the Senate, the re- agitation OF proposition
once decided, were disregarded, your commit
tee would still be AT loss to find any sufficient
reasons tor proionging the political existeace OF
the corporation. for the purpose OF winding up
| its affairs For,
AS it respects the body ITSELF it is believed
that the existing laws, through the instrumental
1t, OF trust properly constituted, afford IS am
| pl means as aqu9iihed continuance fthe c;isr,e r
would, for the liquidation of its accounts, and
the collection and final distribution OF its funds
But should any Inconvenience be experienced on
tins subject, the committee are persuaded 1T will
be very partial. and such the state authorities,
upon proper application, would not fail to provide
| competent remedy for. And,
In relation to ME community, ifthe corpora
ton, strpt ct its banking powers, were to fulfil
bona hde the duty of closing its affairs, "a
committee cannot see that any material atlvan-
tage would he q ived. Whilst, om the contra
ry, II 1t should not act, but should avail itself
OF the temp1.a arolDngation, in order to effect
a more durable extension Gifts charter it might
'nus operItio become serious scourge,
Your committee are happy to say, that they
learn, from satisfactory source, that the appre-
tensions which were indu!ged, as to the distress
resulting from non renewal fthe charter, are
far from being realised in Philadelphia, to which
their information has been confined 1t was long
since obvious, that the vacuum, in the circula.
tioh OF the country, which was to be produced
oy the withdrawal of the paper of the Bank OF
the U. s would be filed by paper issuing from o.
ther banks TINS operation IS now actually go.
ing on +; The paper ofthe Bank of the u. s is
rapidly r"turning, and that ofother banks is tax
Tag its place The ability TO enlarge their accom-
modatons is proportionately enhanced * when it
shall be furhersincr eased by removal into their
vaults OF those deposits which are in the posses
sion of the Bank of the S. the injurious effects
Ola dissolution of the corporation will be found
| TO consist in an accelerated disclosure of the nc
tuai condition OF those who have been support
ed by the credit OF Others bat whose inso,yent or
tottering situations, known to the bank, has been
concealed from the public at large.
Your committee beg leave to present the fol-
lowing resolution
Resolved, That the prayer Of the memo
rialists ought not to be granted"
COMMERCIAL INTERCOURSE.
The bill concerning commercial inter
Icoursebetween thc Uuited States and Great
Brl ain aud France and their dependencies,
and Tor other purposes. was read third
time.
MIR. Bradley loved that i, be referred to
a seiec, Committee, for he purpose of insert
ing t e fo'lu~Ipg section:
- md be IL further enacted, That in the
event of ITS appearing to the President of
the United States that the DEGREES of France
have not been so revoked modified as to
Cease to violate the neutral commerce o the
United States from and after the I'd day of
Feb. 1911, the President the u ited ates
shall declare the fact by proclamation and
the said proclamation shall be conclusive e.
vldeUce OF The fact, and thereupon the ope
ration of this act, and also of such parts Of
the act to which this act is a supplement-,
as were puS into operation by he Presidents
proclamation of the Cd of November last.
shall cease and determine
fOr The motion. Messrs. Anderson. BAY
Lsofd. Picker ,ng. Pope-9.
against the motion Messrs. Brent, Camp.
bell, Clay Condit, FRANKLIN, Gail!ard. Gt r
man, Gilman, Gregg, Lambert. Leib, Mat
thewson. Robinson, Smith (of Md) Smith
(of n. W Tair. Taylor, Turner. Whiteside,
WorthingT ONO
On the passage of the bill, there were
For The b1H Messrs. Anderson, Brent,
Campbell, Clay, Condit, Franklin, Gaillard,
Gilman, Gregg, Lambert Matthewson, Pope,
Robinson, Smith of (Md.) Smith of IN. w
i ait, Taylor. Turner, Whitesde, and Worth
ington--20
against it, Messrs. Bayard, Bradley, Dana.
Goodrich, Horsey, Lloyd & Pick ring ~.
The Senate resumed he C, nsidevation IF
the motion made by Mr. Pick ring hat the
injunction OF secrecy on the paper, cunliden
tally communicated The Senate in The
years 1908 and 1905 relative to Louisiana
and West Florida, OF any part Thereof, so
TAR as such papers respect the title Of claim
OF the United States to these territories, be
and hereby is taken off,"
On motion by Mr.. Bayard,
Resolved, Tina the junction of secrecy
be AIKEN oil n latIon to the vote of the Senate
this day, on the res tuition offered IN TN = LIST
March, by Mr.. Pi kering-~[as above
The following Is The v0e:
On the question to agree 10 Mr. Picker
ing's motion there were
For the motion Messrs. Bayard. Good
rich, Lloyd, Pickering. Reed, Smith, IN. W
Taylor, Turner'S
dgainst the motion, Messrs. Anderson
COndit Cuts Franklin C1aillard Grace