Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-03-13

nut, II therS was no objection to THIS tea
ture stronger than thai il would afIrd pro-
vision for the first rainy y, it might not
be considered as important. He argued,
however, that it was eterna,,y true, taat
nothing but the pre- cous metals, or paper
bottom.d on them, Could answer rs the
currency OF any nation or any age, notwth-
standing the fancful theories tlat great
payments could only b: made by credits g
paper How, he asked. or this point, were
the mighty armies OF the ancient worli
paid of? Certainly not in paper or bank
credits. lie expressed h S fears, les. gem
tie nen had gnt some of tn -ir ideas on these
subjects from the wretched pamphlets un-
der which the British and American press
had groaned, OH the subject Of eircula-
ting medium. He said he ha4 himself
once turaed protector, aud skctched the
plan OF bank, Of which it was feature
that the government should have con
cern In it; but be became convinced OF
the tallacy OF his yicHs-he found his pro
Ject would not answer. Ills objection TO
the agency of the government in a bank.
was, therefore, he said of no recent date,
but one l)Dg formed--the objection was vi
tai that II would be az engine Cfirresist-
ibie power in tue hands Of any adm nistra-
ton that it would he in politics z, finance,
what the celebrated proposition of Archi-
medes was in physics a place, the fulcrun,
iron which a. the Will of the Executive,
the whole nation could be hurled to de-.
struc ion, or managed in any way at his will
and discretion.
TITS bill, in the view Of Mr.. r.. presen-
ted two distinct questions the on, frigid-
ly and Vigorously a mere matter Of caIcu-
latlon the other, involving some very inn
port2at political consid ,rations. IN regard
To the present depreciation of paper, he did
not appear TO agree with those who tho't
the establishment OF q National Back
would not aid in the reformation of il.
Ii he were to go into the-causes which pro-
dnced the present state Of things, he said,
he should never end. As 20 the share
the Banks themselves had in pro-
ducing it, he regarded the dividends they
had made, since its commcnc ement, as
conclusive proof. The present time, Mr..
X. went on to remark, was in his view,
eae CT the most disastrous he had ev-
er witnessed in the Republic, and this bill
proved it. The propos i to establish this
great bank, he described aS a crutch, and
as far as he understood il, /. was broken
on; it would trn.l, Instead OF remedyiag
the evil, to aggraVate it. The evil Of the
times, he sail, was spirit engendcred in
this Republic, fatal to Republ can pr,n j.
pies, fatal to Repub ican vir.ue spirit
to live by any means but those of h NEST
industry spirit of profusion in other
words, the spirit of Cetalinc hi.nselt-oEi-
chi aUi7ns, SRf HrltxSus--a spirit Of expe-
dlency, not only IN pub ic but ia private fe
the system of D.dIer in the farce, living
any way and well; wearing an expensive
coat, and drinking the fines: wines, at any
body'S expence. This bank, he imagined,
Che was far from asCrib ng to the gentle
man from s. {. any such views } was 10
certain extent modification Of the sane
system. Connected, as It Was TO be. with
the government, whenever it went into op-
erarion, scene would be exhibited on the
great theatre Of the u. 5. at the coutem-
piation of which he shuddered If we
mean to transmit cur Institutions unim-
pared to posterity, If some nov living wish
TO continue to live under the same institu-
tons by which they are now ruled and
with all its evils, real or imaginary, he
presumed no man would question that we
1--we under the easiest government on the
globe; We must put bounds to the spirit
which seeks wealth. by every path but the
plain and regular path of honest industry
aud honest fame. This was one of the
grounds on which he was hostile to this
bill.
Abiding to Mr.. Webster's observation
respecting the laws fixing the currency Of
the u. S. he said, it was very true, tiey
were clear and peremptory in their pro-
visions If the existing laws did not com
pei men to pay their debts, the establish
ment Of a bank would not Let Us not dis
gnise the fact, said be, pursuing his re-
marks on what he had des ribed as the e
vi Of the times we think we are living
10 the better times of the Republic we
deceive ourselves (; we are almost in t {
days of Sylla and Mar us yes, we have
almost got down to the time Of Jugurtha.
j, was unpleasant, he said, to put ones
self IN array against great leading int
IN community, be they a knot of land
spectators, paper jobbers, or what not !;
but, he said, every man you meet in this
house or out of il, with some rare excep-
tons, which only served to prove the rue,
was either a stock holder, president, cash
Ter, clerk or door-keeper, enCraver, paper
maker, or mechanic in some way or 9th er
to bank. The gentleman from Pennsvl-
vani1, he said, might disui his fears for
the State Btnks, with their 40 millions
OF paper on 90 millions Of capital. How
ever great the evil of their conduct might
be, he aske 3, in the course of his hlustra-
tons, who was - bell the cat? who was TO
take the bull by the kOrnsl You might
well attack Gibraltar with pocket p's-
tol IS to attempt to punish them. There
are very few, n said, VINO dared 70 speak
truth 20 this mammoth the banks we re
so linked together wth the business Of the
world, that there were very fe mon o "