The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-06-07
Gollgree8.
IN SENATE.
BANK OF THE UNITED STATES.
(Mr. Gaes's Speech concluded J

Upon the question respecting the expe
diency OF the renewal of the Bank charter,
the friends of the bill claim the whole
weight OF the argument: whilst some of its
opposers tacitly acquiesce in. and others
family oppose this lofty pretension. Not
withstanding these circumstances, / enter
tain very great doubts upon that point
There appear to me to be considerations
of great weight against it; perhaps more
than sufficient to commentaries those "
ged in favor oft. Both The gentlemen in
favor OF the bill relied very much upon the
suggestion, that the prosperity OF the Uni
ted States was attributable, IN very great
degree, indeed almost exclusively, to the
establishment and operation of the Bank
OF the U. S. I believe, sir, nothing is
more difficult than to ascertain the, tue
causes OF the wealth and prosperity of ma
tons; very few writer's have been sue
cessful in the investigation of that intricate
subject but the adventurous establishment
and operation of the Bank of the U. S. are
amongst the last causes to which would
ascribe their rapid increase of wealth and
their general and extensive prosperity.-
1t Is not to any adventurous, local causes
we are to look for these universal effects
1t were to look for their real causes. I
should expect to find them in the penus
and wisdom of our political institutions; in
permitting every citizen to employ his IA
cuitles at his own discretion, for the attain
ment OF property; and securing to him the
perfect and uncontrolled enjoyment of il
when acquired. Each citizen, thus acon;-
ring wealth and prosperity to himself. would
OF course accumulate the general stock. &c
these inestimable blessings, have alsobee
attended with signal and peculiar advanta
ges, with an exemption from wars, and all
other great political caamities, &c. &c
whilst that portion of the world with which
we have the most extensive commercial re.
lations has been, and still is, uphappilv in
volved in wars, almost interminable and Of
the mort disastrous characters; from which.
Till latterly, our commercial teilow-citizens
nave derived advantages almost incalcula-
bic, and OF course added greatly to the ge
neral stock OF wealth and prosperity &c
10 these and such like causes, permanent
n their character, and universal in their
operation, are properly to be asCribed the
general wealth and prosperity fthe nation,.
and not to the adventurous circumstance NJ
the creation OF abank still less should we
rely upon this cause. when we refiec, that
the bank is local in its operations: whilst
the scene ofprosperity is universal through
the -. .. Pervadlng those parts of them
"'ASi~ VIZ oPStoliOuS VI the bank
scarcely known, and its influence never
felt; as much as those parts imme date.
ly within the focal points of its influence
&c. Ihls argument, therefore, conceive
ass Asen urged by the friends of the hill
greatly beyond its re al merits, and received
with too much facility and effect by ;,s oD.
posers.
The gentleman from Georgia INF. C,aw.
ford) upon introducing to the considera tion
OF the Senate, the report of the Secretary of
the Treasury, was pleased to say. that he
should rely in some degree upon that re-
port; although he knew, that mentioning
1t would excite invidous feelings in some
OF the members of this body. / do not
know to whom the gentleman meant to ap-
ply ms ailasion. can only say for myself,
'hat think the report is entitled to re-
sPect1ui attention-that would give il the
same respect, that would show to a report
rom the head of any other departm emit
1t mas always been my invariabie hnbi, tn
form my opinions from the facts conta;oed in
the documents before me, regardless of the
auShors OF them; nor could / ever condo.
scend' IN the discharge of my duty ON this
moor, to permit personal considerations tn
intermlngle with, still less bias nv deiibe
rauons. But, Sir, l see nothing very one
rat've IN the Secretary's report. He saws
IN substance, that he has found in practice
the Bank OF the u. S. be a convenient in
strument for facilitating the management Of
the hscal concerns of the nation; which
believe is generally admitted. X is also
true that the Secretary has found ic cooye.
nlent, and has ventured, 10 express his O
plnlon IN favor OF the constitutionality of the
bank bill and am willing to give credit
to the opinion, for what il is worth No
gentiem would say It ought to preclude
the Tree exercise OF opinion by others and
acknowledge, upor this particular sub
Ject' am not inclined to give it the weight.
to which that gentIemaa's opinions would
be entItIed,upoD ether occasions; because he
mas uniformly manifested too much zeal for
the success OF this bill, to leave the mind
perfectly free IN the investigation. He has
Ior long time used such various iucessant
means 20 effect the renewal that his mind
mast be In some degree Invested of that
coolness and impartiality, which are indis
pensable TO critical & correct ANALYSIS NJ
the constitution.
The gentleman from Georgia fNr. Craw.
iord) observed, that It was better TO have
bank dependant on the y. s. than 70 inc
crease the dependence of the government
upon the state banks, over which the 90
vernment OF the u. S. cannot exercise anv
control. 4 would submit to the hon. gen
tlemao upon further reflection To saw. wbe
tner the remark is applicable to The bill
under consideration. After the charter ia
once granted. l see 10 Control reserved IN
the government. fear the controllins in
huence would be on the other sid, IL