The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-06-07

4
nave not yet heard them suggested by any
other gentleman at least, not precisely as
they affect my mind. will, however, pre-
sent them to the Senate, and do not wish
mem to be appreciated beyond what they
are worm. In the incorporation of bank
upon the principles now proposed, the
great advantage to the stockholders conss, S
IN legalizing their credit, and authorizing
them to draw an interest on it, as wei as
or ir,r'oney-individuals can OBJ ain in
terest only OH loan Of money--the ban is
authorised t. obtain interest on loan OF
credit, and that interest according to the
reported dividends of the bank of the Uni
ted States, has been eight per cent. per
annum and it is probable il will continue
quite as high. This advantage is not con-
hned to the credit arising from the n,oney
osoned by the stockhoiders but also, that
which arises from the deposits efuoney De-
longing TO other heotie--nor is this all ii
extends to the credit which arises from the
enormous deftoSits of PUBLIC money. 1t ap-
pears, from the Secretary's report, that Sc
ven tenths OF the whole stock are held by
British capitalists /, perhaps the proportion
is greater, nut covered in some instances by
American names II also appears. that
they will have enjoyed the full term OF
these incorporated advantages on the 9TH
OF Match next; of Course a refusal to re-
new them cannot in any respect be consider
cd as departure from guod faith. Now,
can see neither the policy nor expediehcy
OF extending these favors and advantages
voluntarily to these foreigners for twenty
years in exclusion of our own citizens, at
least to the extent of the foreign capital
now invested In the institution. think, sir,
at the same time, can see very strong and
peculiar grounds of objection to the policy
"a nT ax neFli.s OF ~,
jection arises from the enormous BRUSH in
fiuence, which VIGOROUSLY pervades rhis
country and. believe, affects the pro
ceedings of government so seriously, that
IL Can hardly be said to be independent
verify believe, that this baneful influence
has already driven the government from
measures which the best interests of the
nation required.
Wills, We 6nd G. Britain claiming ex
elusive dominion on the ocean, possessed
OF an immense Camille capital and Pc
cuniary resources almost inexhaustible, we
find many of her subjects intimately con-
nected with our citizens in commercial pur
suits We find many mercantile houses in
that Country associated with mercantile hou,
SEES In this. SO much SO, that when we hear
OF great failures in Liverpool, we nay look
out for squalls and breakers at Newly rk
Not only has this influence operated on
the people generally; but state it as nv
firm conviction, that it has operated and
now operates on the government of The u.
States. is this imercantile connection the
only source OF influence Not at all, sir
the influence accruiDg 20 Great Britain from
he identity OF language, from ding Bri.
fish books. from the precedents derived
from her system of Jurisprudence, inculcat
ed IN early hle--from intermarriages and
various other circumstances, para,izes the
efforts OF our country, and elmost educes
1t 10 state OF colonial dependence; Con
slider this bank as giving tha, divers fed in
huenee body and form for action. Have
we not been told. that this bank HIS been
so operative, as TO elevate or depress me
state banks at pleasure AS to saiares or
contract the circulating medium? AID is
IL desirable thai such an engine should rx-
ist in the hands of foreigners Tt away
this influence. and Great Brltaia woul1
stand nearly on the same foo.i,ie in rsisti. n
to us, that any ethrr nation does. | haye
not overlooked the observations of he gen
tieman from Georgia, liz relation 60 this sub
Ject HE observed. if there he y influence
II is reciprocal; that these Foreigners. hay
ing funds in the United States bank. wl;i
use their best exeruons to procure rcspec,
to' cur rights; or Il, keep the two nations
at peace. l believe they Will. but willis,
they may have an influence IN thus Country
they will have none III their own Tbe{n
huence OF seven millions OF dollars will not
be feit IN that country where 500 millions
are Annually expended although it will
nave much weight here. There is. then
m such recIprocation of influence az tne
s. ntlenan supposes. | would ask the gen
tieman, how tins influence has been hereto.
t"rc exSfted IN practice upon the two Po |
yerrmentsf Has it been able to induce
Britain to relax in her hostility against no
III the smallest degreef Has IT prevented
&C repealed the orders in Council. &c
HAS 1t saved from mpressment one Ame.
rican seaman! Did 1t prevent the-at,ack
upon the Chesapeake in shorf. has il
restrained the hostile arm of Great Britain
from any hostile act, &c On the othe,
hanu, how has It acted on our govern
ments Has 1t not been Instrumental IN pa.
rally sing every effort of resisting these hos
tlIi'eS! Has il not. cooled US Gown to a s,aIs.
OF humble submission, &c. &c. sc. Jhesc
are IT'S natural practical efFrcts. and vii,
continue to be so. l am very far from Vie,
lug TO interrupt the harmony aud friendsn;p
between the u States and Great Britain
provided they can be preserved on hof,nra'
BILE ,erms, but not by submission branch.
about by British influence, find JGsvc
trespassed 100 long on the indulgence of the
senate; but beg to be permitted 60 renlv
to two observations, one of which has been
much relied on and will pass over ali o.
theirs. "
1t has been asked by one gentleman ,ybs