Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1830-05-04

RICHMOND, TUESDAY, .MaY !.
MIR. McDUFFIE'S REPORT.
we proceed with the Report from the Committee OF
ways and Means the Bank of the IT, S-We shall
read the whole OF it with great attention, and in due
season present our own views Of the opinions
FOR the present prepared saw that the yews
EXHIBITS ON the constitutonaty OF the Bank are
"geoous man conciusve-and that we not satisfied
upon rms subject The original arguments of Mcssrs.
1emerson, and Madison are yet mistaken.
The Impressions produced by the Report are very va
r'ous believe that on all hands it is considered as
mighty creditable to the talents Of Mr. McDuie: but II
Is not calculated to produce the same conviction of the
principles which il advances Most of the Baltimore
ana fhadeipha papers have already in favor
OF the report and OF the Instituon-The Charleston
Mercury speaks of il in terms of high commentator
Ii says that 'the sounncss of its vewstbe errors n
overthrows-and the valuable information it conveys
enent'y entltle II TO general circulation and persal
but the u ). Telegraph inmatcs its intention 70 on
pose the renewal of the Charter ut the proper
me N. York Courier and Enquirer critcizes the Re-
port WIN some severityt admits indeed that il is ga
powerful productiongoing in that respect far beyond
inc Report OF the Senate. No one will question the
.aeht with which it is drawn up Still it is possible for
Chatha'n 10 make the worse, appear tha better cause
possesses goolly portion of assumptions in facts
aacies In reasonngs, and inaccuracies theory blen
ded with much Observation-Disclosures rescarch-and ;ngen
Gus interrogation Ii is well calculated TO produce eff
feet upon stock; but that effect will be TRANSIENT and
vanescent" the space of few weeks (says the
Courer stock has risen full ten per cent. The APP
pcauoh OF Two legislative poultices have put three
ons oil dollars into the pockets of the stockholders
Every thing seems to conspre in producing the belief
.a' us charter as now existing, will be certainly
newea-that Its almost sovereign powers will be con-
nhued-that its influence will be Northumberland
mat lis broad hand and long fingers, will spread over
| the union for another term Of twenty years.
Mr. Niles seems to be i'm a state of some little du.
| 6iety on this subject:
We are not sure that we examined the report a.
to the first point, Uhs Conslittouaity) unpreudiced
1 i In md
long entertained, and which, from their duration take
me character OF principles, II indeed they are moi So
me question is very ingeniously, yet plainly, and pow
eriuy argued; and, frankly confess that our doubts
| on the subject mewhat weakened in the
presentation of ideas in relation 10 matter which
mas been SO thoroughly discussed by of the abet
men that have honored country by their talents
bnt in the excellent and clear arrangement of the
er:l argument upon IT, Still, without pretending 10
an ability to give sound legal con sruction to the pro
visions Of re constitution, have our fears that in
yielding this power to incorporate-the public liberty
NAV be endanser. but as we said in few remarks
on the presidents message on the 10Th Dec. last we
are ready to ask ourselves, whether constitutional
question, settled by repeated decision, Of Congress"
under different administrations and the influence of diff
eren parties sanctioned also by the highest judicial
tribunals should foreDer be cones:edand the prime j.
pie Of this query well refers TO protecting tariff
and internal Improvements, as the bank. The rule
applies equally TO the whole hree-and each Of them.
And the concession if made i'm the latter case cannot
be refused in the former"
The Georgia Journal has only seen Genera,
Smiths Report in the Senate of the United States not
Mr.. Nc Duties i'm the ;House-It saw that " with
regard to the influence the bank of the United
States has had in establishing a better CURRENCY and
IN facilitating the commercial intercourse between all
the states OF the Union we shall not pretend to contra
dict the report That the operations OF the lie
sury have been benefited by this bank we shall not
deny That il ha' kept the banking institutions
within bounds we shall admit But at The s,me tins
we must declare that The interes-the very existence
OF the bank compelled adopt the policy il has
lar pursued; aud that it would have acted otherwise il
Its interest had requredit"
"The President of the bank the United States IA,
declared that the bank oppressed Of the
banks; that there very few banks which might
have ien destroyed by exeron Of the power of the
bank; that no state banks have injured; ma
ny have been saved more have been and constant
yreeved and that the great to keep the
banks within proper limits, and to make them shape
their bu'iness according TO their means"
"ere is the avowal, that the bsnk of the u States
has the power to destroy the state banks-Having the
power OF Destroying il certainly possesses the power
influencing their operations; which is also avowed by
the President in language as dctaoral il the bank
of the u. States sovereign power and the state
banks mere subjects or underlings.
"lhe federal government, by its encroachments on
state risht by the assumption of powers not delegated
toi; by lis repeated violations of the constitution il.
leading the way to consolidation, and TO the
oil The federal compact The bank of the United States
established Tor fiscal purposes, has assumed power
which, connected with the operations of the federal
government, must hasten the downfall Of the Union.
This bank controls the money ed institutions of every
state OF the Union The state banks are at the me
OF this nnanclai ana political engine OF power. The
state banks must follow the dictates and obey the com
mands OF the bank of the United States or submit to
the consequences. Whenever il will be the interest OF
this bank to permit the local banks go in their OPP
eratioDs, the iron hand Of the master wilt be lightly
felt But when il will be s interest 10 crush any of
the local institufion whenever state hank will pre-
sumo TO act Independently and shake off the sbackles
with which is loaded then will the bank OF the Unit
ed States with its 35 900 600 collected in mass over
power the audacious state bank, and crush al one
| blow"
The first questions arc-Is the Bank consistent will,
the Constituton?s il calculated respect promote
the liberties of the peope?-When these are decided i'm
the affirmative, then its utility in time of war, and the
facilities 1t gives in time of peace TO the and
Commerce, will be entitled to all their weight But not
until then
| THE " GENERAL NEUTRALITY-SUSPICIOUS.!
The last Columbia Telescope and Charleston Mereu.
ry contain some warm and animated remarks upon a
bill recently presented 10 the ii. of r. by Mr. Mercer
| on the Memorial Of the American Colonization So
cety. II isstyed bill Z" To amend An Act, entitled
An Act in addition to the Acts prohibiting the Slave
Trade" passed March the third one thousand eight
hundred and nineteen'I authorizes the Secretary of
OF that Society,", the Of S25 for each and every
native born tree person Of color ofthe u. States Of A.
merica, or any Of the territories thereof, whom tho
hoard OF managers shall afford 10 him satisfactory evil
dence OF their having transported from the U. States,
or any territory thereof 10 any colony upon the
oil Africa, which has been. may be hereafter plant
ed by the said society: PTOUided That the entire sum
20 to be paid shall not airy one year. exceed in amount
/ H.. 49, n II. Ia -.