Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-03-20

| 'S' Vic lhis was, the hostility OF the rep-
reseniataves of .hat city 20 the bank itself.
Hs would not Consent To impose upon
place an institution which was SO otl:ous 10
them, &c.
Mr.. Wright also SD Ike in favor of the
motion. and Incidentally urged the high
CLAIMS OF Baltimore and of w ashinyton CT
| ~ lhe position OF the Reporter preven-
ted his beng understood with sufficient &C
| curacy to report any of ms arguments.
| Mr.. Comstock argued in favor OF New
York, as possessing superior on.merci
advantages. and the proprietv OF seieet.l q
| that city for Il bank intended to aid cou,o
mercial activity, &c.
The motion to strike cut PhiladeihLia,
and insert .Vezy York, was then Decided
! in the affirmative
For the motion, 20
Against it, 81
Mr. Atherton. with a view to restrain at
tempts to speculate IN the stock of the
bank, by persons subscribing for more than
they could pay for, aud s-liing it after
wards at an advanced p ice, anu TO make
all the subscriptions bona. /sde mes. iunyci
substantially amend the bill by Ir1yid;Ae
that i'll apporionng the shares, no sub
scription should be reduced as long S there
was on the list larger subscription.
After few worcs from Mr.. Smith of
Maryland, who thought the provision
would be Intellectual and WAS unncCessary-
the amendment was adopted.
Ayes 81, Noes 43-
Mr.. Mayrant offered a new section to
the bill, the object Of which was TO allow
the 5 Directors appointed by The gpvern-
mcnt each a salary of dollars, &
to prevent their obtaining anv loan or &C.
commotlat:on from the Bank.
In Sunport of his r,,.,nnCttsOn
spoke at s1gne length. He adver,ed to the
immense funds of the government which
would pass through this bank, amounting
annually t. the sum OF twenty-five Millions.
exclusive of the stock owned ihereu by the
government. We were entering into party
nership, he said. with persons unknown
to us, and about to place in their hands
the immense revenues of the country. 1t
was Indispensable, therefore, tn At the gov
eminent should not emily have strong IL
fluence over the bank, but its Directors
ought to be made Independent, and, as +
as possible, pl.ced beyond Tie lem ptaton
of betraylng their trusts-he would make
them, indeed, as independent as the JUG
es. Mr.. Nj. quoted examples from many
countries in Europe, to prove the necessity
of giving the governm ent greater .nfuence
in the bsnk. which, in none Of the nstan-
ces he cited. ID ever been injurious to TIE
prosperity OF these Institutions.
Mr.. Calhoun replied that his colleagues
object could nothe effected by his amend
ment; because, if the Directors were pre-
Guided from borrowing from the bang, di-
rectly, they could borrow in the name ard
through the medium of some friend. Mr..
G. remarked further, that the salary Of
fered must be very large IL induce
commercial man of any standing. to forego
the benefits of the bank.
MIR. Mayrant thought salary of three
thousand dollars would be a sufficient in
ducement to men well qualified for the
Direction, to relinquish the privilege of
borrowing from the bank. After some
further observations in answer to Mr. Gala
houn,
Mr.. Migrants motion to amend the bill,
was negatlved, without division.
The only remaining motion, merting par
ticular notice, was by
MIR. Atherton. who moved that the rate
at which the per cent. stock shall. be re-
eeved for subscription, snail be reduced
from 65 to so per cent.
Some debate ensued on this motion,
which was not concluded, whea
The House adjourned.
WednesdGv. March 13.
NATIONAL BANK
After disposing of some other busi-
ness
The House took up the National Bank
bill--Mr. Atherton's motion t. make the
rate Of subscribing per cent. stock .Gffy IN
stead of Sirty .fve per cent. DSing still un-
der consideration
This motion was negatived and Mr.. A.
therton subsequently, moved 10 receive the
per cent. at 90 instead of 65 per cent.
which was also negatived. SO to IS.
Mr.. Clendencn moved to reconsider the
vote OF Yesterday, which fixed the prince
pal bank at the city of N. York.
This motion produced debate Of ssme
length and cons siderable animation. Messrs.
Smith, of Md. and Wright, spoke in favor
of the reconsideration, and incidentally
urged the claims Of Baltimore 20 the pos
session of the mother bank-Messrs Rop
kinson, Sergeant, Calhoun, Pickering, Ross
and Ingham. like wise advo Gated the recon
sideratioD, and the claims of philadelphia.
Those who spoke against the re cons ldera-
ton, and Of course in favor OF IN. Yors,
were Messrs. Cohdict, Southwark, Root,
Taylor of n. Y. Robertson, Grosyeuor,
Cold and Hubert.
The question was finally declded in tho
affirmative, as follows
For consideration IS
Against it 6B
Mr. Wright made au unsuccessful mo-
ton t. substitute Baltimore.
And tue house then struck out New
York" and replaced Philadelpais.