Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-03-26
QUN@RMSS1OMAEs
B.d.VK OF THE UNITED SIXTIES.
MIR. BENTON'S SPEECH.
SE.f.aT'E-WEDNEspAY Feb T.
CONTINUED

-aLE-W EDNESDAY, Feb. =.
(CoNrINUEpl
what IL the legal effect OF thus vast capacity 10 ac-
qnre, and this legal power 10 rssin real eatse lie
II not the erection OF new species Of mortman? -
Anu OF Kind more odious an dangerous, than that
morfmdin OF the church, which IL bafi ID the English
Parliament so many ages TO abolish! The mortmain
OF the church was power in eccesasiical corpo.
ration to hold real estate, Independent Of the laws OF
distribution and descent: tn. NORMAN Of the Bank
- power In lay corporation. to do he same Ting
The evil OF the two teDures is ilen,icalhe difference
between the two corpTa ions is than the d T.
terence between parsons aud money changers; the
capacity to do mischief incomparabv the greatest OH
the part OF The lay corporators The Church could
only operate ,lr0n the few who thinking Of tn
other world the Bank, upon all who immersed
in the business or the pleasures of this The means OF
,ne Chpreh ware nothing but prayers; the mean o.
the Bank, 10 MONEY The Church received what l.
could beg ICON dying sinners the Bank may extort
what II Ple.es from the whole Irving a,ionoi
the Just and the unus'.-Such is the parallel between
the noTtmain of tho two corporations. They both
end in monopoly of estates, and perpetuty of success
SION and the Bank, the greatest monopoliser Of the
TWO. Monopolie' and perpetual succession, are the
pane oil hspuolics Our ancestors took care TO pro-
vide agsns hem, By aboshiog ais and p-imogsni-
ture. Even the globes of the Church, lean aud few
they were 10 most Of the States, Tell under the re-
publican principle of limited teBures. All the States
abolished the antirepubliean tenures but Congress
re-estael shes them, and in manDer dangerous
| aud offensive than before the revolution. They are
now given, not generally, but to eS not to natives
only, but 10 foreigners also for foreigners lage
owners OF th, Bank. And thus, The principles of the
revolution sink before the privileges OF incorporated
company The laws of the State fall before the man
dates of central directory in Philadelphia. Foreign
ers become the landlords Of Americans aud
the young aud fourshng towns Of the U. s. are vsrg-
ing to the fate Of the family booughs which belong to
the great aristocracy Of EnsIsni
Let no one say the Bank will not avail itsef of its
capacity to amass real estate. The fact is has al.
ready done so. know towns, yea, cities, and could
nam. them, II II might not seem in, ious from this
elevated the itre TO make public reference ia their
misfotune', in which this Bank already APPEARS as
dominant and engro''ngI proprietor. have been in
places where the answers to Inquiries for the
OF the most valuable enem euts would remind you OF
the answers given by the Egyptians TO similar ques-
lions from the French officers their march to Cairo
You recolleci, no doubt, Sir the dialogue to which
| aude Who O,ons that paldce?' =" The MAMA
LuKE,"-,cho this country heuse?" =" THE MAMA
Luxe these gardens?' " THE MAMALUKE,-
" That field covered ,cih rice?'' " TIE MAMA
LUKE And thus have been answered, In the
towns and cities referred to, with the single exception
OF the name OF the Bank of the United States subsu-
tuied Tor that OF the military scourge OF Egypt Ii
this is done under the first charter, what may rot be
expected under the second II this is done Will. the
Bank on It's best behaviour, what may she not DO,
when freed from all restraint, aud delivered up the
bounds" cupidiy AMI remor.eless exacions OF mo-
MED corporation.
l. 6. To deal In pawns. merchandise and bills of sx-
change.-l hope the Senate will not require me TO
read dry passages from the charter to what say
l know speak thing nearly incredible, when al
lese that this Bank in addition to all its other at,r
oues Is an incorporated company OF pawn-brokers =
Ths allegation stsggers besf-but refe' to the
charter will dJpei Incredibly Tho char in the
hrs part, forbids traffic in merchandise in the after
part permits it, For truly this instrument seems to
have bsen framed upon the principles of eontrariss ;
one principle making limitations, aud hs other follow
ing alter with propisos to undo them. Thus it is with
lands, as have just shown thus IL is with mercbsn-
die. as now sbew The Bank is forbid to deal in
merchandise, proviso, unless in the Of goods
pledged for money lent, and not redeemed to the day
and prouiso again. rnless for goods which shall be the
proceeds OF its lands With the help OF the Use two pro-
uisos, it il clear that the limitation is undoue 1t is
clear that the Bank is at liberty to act the pawnbroker
and met chant TO any exteot that il pleases l, may
say to all the merchants who want y Ds, pledge your
stores, gentlemen They mast do it, or do worse
and il any accident prevents redemoon on the day,he
pawn Is forfeited, and the Bank takes possession. On
the oh-r hand, il may lay out its rents for goods
may sell it's real estate now worth three millions OF
dollars, for goods Thus, the Bank is incorporated
company OF pawn-brokers and merchants, as well
Incorporation of lanio,ds aud land and
this derogatory privilege, like the olher', is eopi-d
from the old Bank Of England, charter of l694-Bi!ls
of Exchange also subjected TO the traffic of this
Bank. III traffic unconueeied with the trade OF
banking; dangerous Tor great Bank to hold, and now
operating most niurously in the South and West IL
is the process which drains these quarters Of the Union
Of their gold and sv aud still the growth OF fair
commerce in the products of the country. The mer-
chants TO make remittance, buy bills OF exchange from
the Branch Banks. instead Of buying produce from
the farmers Tho bills paid for in gold and silver
and, eventually the gold and silver is Mt TO the
Their Bank, TO tho branches in tho Eastern ei,ies,
either to make those bills or 70 repensh their Golfers,
ale The Bills sell cheap, say fraction on per cent;
they therefore, good remittance to the merchant.
To the Bank, the operation is doubly good for even
the half OF per cent. ou bills OF exchange is
great profit 10 the institution which moDopozss that
business, while the collection and delivery TO the
branches of all the hard money in the country is
still more considerable advantage. Under this stem
the best Of the Western Banks,-I do not speak OF
those which had foundations, and sunk under the
weight OF neghborhood opipion,-but those which de.
served favor and confidence, sunk ten years ago I'm
der this ,y,,om, ths entire West j. now undergoing
SILENT general, and invisible drain Of It's bard money;
and II quickly arrested, these States will soon be,
far az the precious metals are concerned, no more
than The empty skin OF an inundated victim.
T. To establish branches in the different States with
out their CONSENT and in defiance Of their resistance
No deny the degrading and injurious tendency
of this privilege. IL derogates from the sovereignty Of
State, tramples upon her laws, Injuries her
and commerce, lays open her Government TO the at
lacks OF cENTRALIsM, impairs the property Of her
citizens, and fastens VAMPIRE on her bosom TO suck
out her gold and silver L. II derogates from her
reigny; because the central institution may impose its
intrusive branches upon the State without her CONSENT
and in defiance of her resistance. This has already
been done. The State Of Alabama, but four years ago,
by resolve Of her Legislature, demonstrated against
the intrusion Of a branch upon her She protested
against the favor Was the will OF the State respected?
On the contrary, not branch instantaneously orc
ed upon her! IT, by the suddenness of the action, TO
make striking and conspicuous display of the omni
poence Of the bank and the nulty OF the State. 2. II
trampes upon her laws because, according the de.
csion OF the Supreme Court the bank and all branches
ARE WHOLLY INDEPENDENT STATE LEGGsLA-
TON land il tramples them again, because it