Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-09-16
DOlN8SPNna
ANK OF THE UNI ED STATES

l.
ing by N shoias B'ddl-, q the Presdra,, in brbs,.
Of the Directors Of the Bnk, .hewing, In a ma.,e,,
ma.ne,' the eondiion, The sha:aee,, end the import
ance Of This great aud irns Institution. Tnis abl,
ard ms ructive document " m no doubt, be pnblIsh
go. Arer II was heard, the following Resou ion was
moved by HORACE BrNNEY, Eco and the gentlemen
who wers acc .rdngly sPpon,ed Con, mittee made
Tue aheroOr, The Annexed Repor', VIII CHI adopt
! I'd without dissent.
Resolved, TIA, the crmnSnnic alton mad. bv tie
b'afd of Dires'ors TO this meeting be referred 10 a
smmm'ee offeven, 10 report thereon; and tLat tho
| Same CoDmirtee be authorised to report upon sucL
| st .ekkoLer.. "
The Commine, sppoDlel were:-H b nney, r..
bert Ral'on, X Il Colt Paul Beck, Maui I Ey,.
Joseph n swphi !. James r MADISON.
The Commi.'ee to whom was referred the eon,iSa-
ne'"0o from tho Board 1 Of Diss'rs--
That they have verified. by a comparison with tho
tabular s'aemsn's o! the ok, the material faet, ~
ported In his interesting paper, ard 6rd EN- TO bs
correct The reasoning by which the Board of Drer-
tors has d, duced from them The on the
BANK and 'he present ol Ell y OF cur soun,ry, ard
has sustaped the principles which have regulated M.
dmnisrs'ioo OF Is concerns for many y-sfs REQUIRE,
20 comment. All who read The mat mic alton .yhisb
Tvs presumed, will be given to 'h- public will discern
Tor benseve', not merely The as,u prospect of ,L,s
Institution, greater and more sst- han a. any iormer
epoch but the manner n wh,sh is great pubic and
private Iu'ts Rave been petlormed--i.s publs tust
lo"ads The Government aud People OF ,l,. U.i,,d
States, and its immediae private trust towards In
Stockholders and those WHO have ernGded 10 II MI,
FUNDS and their ciedH The pcr!es, harmony of these
N
ne Bank OF The Usjted State, has been BE- jsw .nd'
administered az pow is Ii believed 10 be denon,rs
to and would be waste and super foiiy iu tho
ommee, 20 attempt 10 add ell her the cog nav or
the variety OF The consideration. by which ,he Board
oil Directors has completed tbe demons,ration The
committee will not, how, ver deny tbeuse,yes ~
sseac"ou oi submitting TO the s otkhoders a few of
De bfsreneea which the comm unic alton taken I'm
come xion vi the past AID known history Il the Unit
90 stale end The Bank, appears 10 justify
L.. That The Bank, at It's origin, end az great coz,
aha sest'hee' tfee'uay promoted tho restoration Of
specie payments; ind that is able admnisra,ion Tor
several years pact has ins'ly esabli.hed currency
as universally scund within tn Uni ed y aies as ssn
.vei be expected as essential 10 ge nsrnl vvaI
ire and tta' this has ceurred Ia community whose
currency Tor part OF The time has felt hs IL huepxe
aehve though temporary causes Of derapg M a
at all time. exposed 10 DANGER by the number and
va'e'y OF its Banking Institutions.
I'd That tie Bank, through the whole sou,se Of ia
opranonS has eh-etuly assisted the Treasury ia ibe
cole ellen and die rbu,on OF the public revenue and
'hs' OF late years, il has been sgnaIy efficient In
preventing he discharge Of The public debt from dis
ureing the operations OF cree or Ire course end
value Of PecUniary investments.
b. That the Bank, by it's jdieous Inter v.nilon in
me business Of domestic exsbanges has given such
facility and regularity TO hi, Indispensable Instrument
OF internal rsde o. at neither IL The cost of
ever
4'h. Tha: by is extensive operations in foreign ex
change the Back has fr several ears held in i.band
and has al times used, with striking effect the mos.
OF "r'esng all sudden ard viosD, fuc,ua ions In tb
p.anIn o. sommete'; and promes by the same mears
greatly to economic tbs OF the or. cous reaI In
he future trade Of the United States with China aid
India. "o
oh. That these pu'Le services Of tho Bank Of the
Chea Sa" are the peculiar result OF an iostitu inn
organized aud administered hi. has Ii at ,b,
organization OF any bank or body whatever .ssentaIIv
dn-rent, would fail in the attaDne nj of o,t or all II
the great o. sets adverted to- and ,ha, an icisn, a.
ION alone necessary 10 develope ,he powers
and pusI,e uses OF he Bank in it's existing form.
on That while the Bank has be. q administered for
several years upon those primo pie. which AR. d6n
srab'y the best for the public and the sockhod, r.,
.ns' adverse circumstances at On earlier day, and
among men, shelly, the cost and Sacrifices attending
,ne res'o alton OF an un,ouud Currency, by which an
immense loss, 'ha, would otherwise havs fallen upon
sumed by the Bank, have proven ed The soekboh,as,
rom deriving the usual returns OF money invested AZ
'ne lowest rate OF interesi-tbe original subsetib.ro
mol having realized an interest equal TO Eve p.r cent
per aDnum pad spontaneously, and subseouen, nnr
eh4sers OF the stock at an vance, having generally
resolved less '
7lh. That the stock OF this Bank is distributed in such
amounts, to such variety OF persons and for spch
dnren purposes and trusts tina, ell charge or NJ sga-
non OF monopoly by any body If men WHATEVER, is
SHOWN 10 be without foundation; IT same cir,
cumsianees prove tbs deep ADD critical in errs, wbi.b
widows, phans, charitable stiles and other trusts
nave 10 me prosperity and continuance OF Inc Bank
otb Ihat he weliere Of this Bank is now iden fled
with 'ha OF the people Of the Unitd States from tho,e
who weld the largest operations oil ce, 10 him
who'e interest in fbe CURRENCY does no, go beyood bs
jus. compensation for his daily labor.
rnese ln'srenc.s your Committee believe 10 bs
supd' ih.no partial interest which they may have as
mr. o.
iege as ciuz ne IN stating Them Their proof NAV bs
mfe msnifsst to all who know hs history of The Bans
aud the souury, by perudng the ccmmuneaC len of ,be
Board OF Directors.
There IL one other subject within range Of ibs re.
iftnse 10 The Committee, upon which they deem 4,
their duty TO report.
Toe Coa',tr OF this Bank will expire by fis present
limiaon 90 The 81 Of March, 1896 and there will cor
sequenIy be but one hiential meeting after the pre-
cent and that at point Of time near the expiration
81 The Pfe1ent Charter 10 au8cTi2e In re- Gard
to It's renewal II 10 r., in Che opinion Of your Com
mee hal before that eSing, power should be given
10 tue Board OF Directors to proseeuts them II thew
blink proper This power should be large snd de fni-
'ive Dot merely 10 solicit renewal. but to abide il
hey think rghf by The terms which Congress may im-
pose, Bjafd OF Directors who have administered the
Bank ip the manner detailed in their re sent sommur
ten, are ssis deposi ores OF tho sD'ire power of
he s'okholders On The subject Of renewal he Char
With these remafks Tbs Committee Terminals their
duy by Offering 10 The adoption OF The meeting the fL
loving refoiu ioDs
ResOfped, That Aln inisiratiop bv with IN. In
Of the Stockholders and the Public are success.
fully blended, is thai syiteo witch IL prcpsry tharac
eri'fs Of - nix OF The Uoed States snd that TO the
present. eble imsia'rston OF The ipk tbs Sioskbo
ders and the Public are indebted for The full efficient
and pFoh'shie dsvsiopepeni Of sbsb system.
RssOived, Tia, The hstks Of ibis meeting be pre-.
senicd TO she Bo,r' Duseors for heir somprehen.
ve and lusd report upon Tbs opera ions AID present
coudiiob OF the Bank, with that the Stock
holders pice UDaDai0g outidensn in hois wisdom
and 1ey IN The further aJmnislrs Of It's concerns
Resolved Tosi The eOtb deDse Of the .osk holders
continues be due TO the abIe and faithful Psesdsnt
Of The IBs'i noo snd that 'hsif thanks be given 10
him for he enlarged and liberal visv which have die.
drgusbed ms administration OF 'he Bank. snd for the
skW whb witch he hes united ~ its operations
gd 70 the public welfare, with steady sUpp't Of the
hgn's and Interests oi the oskhodeFs.
Res fUtd, Tba,, n ~ any tos before tbe next trien.
ei meeting OF che Stcohboldsfs N shall be deemed
exredisntby tho President snd rss'ors 10 srply 10