Alabama state intelligencer., 1831-05-04

 time Here the form of words which operate this double cngr,sment of rights GJ7"No other bank shall be established by any future law of Con gress during he continuance of the corporation here by enacted for which the faith of Congress IS here by pledged :" t wtha proviso forthe District ol Co- lum5ia. Ani, that no incident might be wanting to complete thette of this charter to utter reproduction of Whig RepibiicanS this compound monopoly, and the very form of words in which it is conceived IS copied from the charter of the Bank of England!- not the charter of William and Mary, as granted m
 1894. for the Bill of Rights was then fresh m the memories of Englishmen, hut the charter as amend ed, and that b money, in the memorable releh ol Queen Anne; when tory Queen, tory Ministry d tory Pariament and the apostle of torysm Tn the person of Dr Shchevere with his sermons ol divine right, passive obedience, and non-resistance were riding and ruling over the prostrate liberties of Eng land This is the precious period and these the noble authors from which the idea borrowed,
 and the very fo1n of words copied which now figure
 h the charter ofthe Bank of the United States con- stfuting that double monopoly which restricts at
 one the powers of Congress, and the rights of the citizens.
 These Mir President, are the chief of the exclu- sive privileges which constitutes the monopoly of tiie
 Banl the United States. have spoken oithem,
 not as they deserved but my abilities have per mitted have slewn you that they are not only ey
 in thenseves, but copied from an evil example. now win 10 shew you that the government from which We have made this copy, has condemned the original and. after showing this fact, think shall be able o appeal with sensible effect to all liberal minds, tc follow the enlightened example of Great Britain l g.tting rid of dangerous and invdeous
 institution. alter having followed her pernlc0us ex- ample in assuming it. For this purpose will have recourse to proof and will read from British State Papers of 1S1f' will read extracts from the cor respondence bttween Earl Liverpool. first Lord Of the Treasury, and Mir Robinson, Chancellor of the l Exchequer, one side and the Governor and Depu- l ty Governor oftle Bank of England, on the other the subject beiag the renewal, or rather, non-re- newal, ofthe Charter of the Bank of England. THE cotREspPoNDFNCE-ExTRAC
 Communications from Ne First LOrd of Mc Treasury
 aud ChanceHtr ofMe Erchcquer, 10 he Gorernor
 aad Depmy Gorernor of he Bank of Engiand.-I
 Ertracts:
 ''The failnrss which have occurred in England, unaccompanied they have been by the same oc- currences in Scotland, tend prove that there must have been an uusolid and delusive system of bank ing in one part df Great Britain, and solid and sub stantia one in tie other In Scotland there | are not more than thirty banks Qhree chartered,) | and these Banks have stood firm amidst all the con yusions in the money market in England, and amidst all the dstpsses to which the manufacturing and agricultural interests in Scotland as well as m England, have occasionally been subject. Banks of this description must necessarily be conducted upon the general understood and approved principles Of banking. IN * The Bank of England may perhaps propose, as they did upon former occuson, the extension ofthe term of their exclusive privilege to the metropo- lis and its neghbDrhood beyond the year 1883, as the price of this concession: (Immediate surrdender of exclusive prvileges.) It would be very much to be regretted that they should require any such con- dition It is obvious from what passed be- fore, that Parliament will never agree to it. \ 4 Such privileges are out cf fashion and what expectation can the Bank, under present crcumstan- tl,a;rg t-iII har Tan 18th.
 .4nsuer qf the Court qf Directory-Ertrdd:
 |" Under the uncertainty in which the Court of Di- rectors find themselves with respect to the death of the Bank, and the effect which they may have on the interests Of the Bank, this court cannot feel themselves justified in recommending to their pro- prietors to give up the privilege which they now joy sanctioned and confined as it is by the solemn acts of the legislature" Jan %.
 Second contradiction from the Mintsers-Eltrdcf:
 "The first Lord of the Treasury and Chancellor of the Exchequer have considered the of the Bank of the goth inst. They cannot but regret that the Court of Directors should have decnedto mend tothe Court of Proprietorsthe consideration of the paper delivered by the first Lord of the Treasury and the Chancellor of the Exchequer to the Governor and Deputy Governor on the 18th inst. The state ment contained m that paper appears to the first Lord off the Treasury and the Chancellor of the Fx- chequer, so full and explicit all the points to which
 
 though they would have been, and still are ready to answer as far as possible, any specific questions which might be put, for the purpose of removing the in which the Court of Directors state themselves to be with respect to the details of the plan suggested in that paper" Jan. 23d.
 SecOud dnsarer of the Bank-Ertrdet:
 "The Committee ofthe Treasury Bank having ta- ken into consideration the paper received from the first Lord of the Treasury and the Chancellor of the Exchequer. dated Jan 23d, and finding that his ma jesty's Ministers persevere in their desire to propose to restrict immediately the exclusive privilege ofthe Bank, to the number of partners engaged in bank ing to certain distance from the metropolis; and also continue to be ofopnion, that Parliament would not consent to renew the privilege at the expiration of the period of the present charter; finding also, that the proposal by the Bank of establishing branch Banks, is deemed by his Ma estys Ministers inade- quate to the wants ofthe country. of opinion that twoud be desirable iorthis corporation propose basis, the act of the 9th of George the 4th, which states the conditions on which the Bank of Ireland renquished its exclusive privileges this corporation waiving the question ofa prolongaon of time, aho' the Committee of the Bank cannot agree in the opinion of the first Lord of the Treasury and the Chancellor ofthe Exchequer, that they are not ma king considerable sacrifice adverting especially to the Bank of Ireland remaining in possion of that pr vege five years longer than the Bank of England" Jan. 25
 Here sir here Mir President, is the end of all the | exclusive privileges and 0dlous monopoly, 0i tine Bank of England The ancient and powerful insti- | tuition, so lons the naughty tyrant of the moned word,-so long the subsidizer of Kings and Minis ters.-so long the fruitful mother of national debts and useless wars,-so long the prolific manufactory of nabobs and paupers.-so long the dread dictator ofils own terms to parlament,-now droops the conquered wing, lowers its proud crest and quais | under the blows of its late despised, assaiants It first puts courageous air, and takes stand upon privileges sanctioned by time, and confirmed by so- lemn acts. Seeing that the Ministers would have no more to say to men who could talk of privileges