Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-03-26

The Bank Of the United States dies 40 the Bank of
England dice, in all ito od'ous points, upon the lims
ion OF lie charter; and the only cireumthce OF regret
10, that the generous deverance 10 10 take effect two
years earlier in tho b iti.h monarchy, than Ia the
American Republic.
Ose word. Nc PRxsIpENr, upon an iueid ena, topic.
It's shewn that the stock Ct tho Bank OF tho United
States has fallen five per cent in IN.
opiu Us d.cio.ed in the Presidents messages; and.
thereupon, complaint Is preferred against tho Pres
dent To- deprecitng tho properly OF nnocen and IN OF
tending people. made remark upon this compla int
10 the beginti ing oil my speech, and have word
mere to bestow upon II. | with contras, th. &C n
due, of American stockholders, with that Of the Bank
ct England stockholders, in similar and 10 them
much more disastrous, case. Ito Bank CT ENGLAND
stockholders also, have bad decline in the price Of
stock; not OF 50, but OF c35 in the share. Back OF
EngIapd .'oeki ccns quence Of Earl Lverpoos COM
muoi alton and oil the debates in Parliament, ba, fallen
from 2SS to BOB; equal TO loss OF S165 every share
| ihs something more than So. Yet hare never
hehd that Earl Liverpool, or any smber oil Par.ia
nent ba' been cailei account for produ cpg this de
pre- cha ion. Ii would that the liberty Of speech
INA he reh OF dscu,son in Great it.in, extended
10 the affairs OF Engan'; and, that Ministers, and
ject.
| Nv. object, Mr.. PRESIDENT to the renewal OF
The Bank charter, because This Bank Is institution too
cos ~ and expensive for The American people to keep
up.
Lot TO on. cavii at this head Of objection under IN.
belief that the Bank OF 'h- United States supports it,
SELL like toe hberuai bear, by sucking its own paws;
or, mat derives, its revebu-s, spider spins i,s
weo' rom 'he recesses al its own abdomen. Such a
belief would be essentially Gus, and highly TN
heconDg the intelligence OF the N neteeuth Century
The fsct thai the Back lives upon ,hs people! IN.
all it, expenses ado out of the ne o,le: all lie po
derived from bem and iii its Losses re sed nv
Them This Il the n ked tu HI by consequ. nee evrry
shilling held, or used. by tn Bank, above The
capital stock IL TAX upon.the PEOPLE; and az such
shail'Iook into the amor M OF the LEVY, and prsvs
1t to be too great for the people be ar any LONGER
10 the inst place, We have The direct expenses Of
tho Bank, the actual cost Of its administration
| expenses ned a for M
1881; aud assuming that for average tho total
cost oil the adminha alton for twsnty wars, will be a.
Bout seven and half millions of dollars The epormi
~ OF m. sun mu.t strike every mind; but to Judge il
accu aeiy let Va compare IL 10 the expenses of some
known establishment. Let take The civil list OF
me federal sovernme mt in the first term of President
Wash'neton's Administration Resoriug to thus stan
dari, hud the expenditure Of this anch of the 90
vernmen to For 1892. 1891 ,000 for 49, 1888 900;
Tor 81, $4,000; for '95, 1851 900; presenting an
annu. average Of S3S5 900; which /, but trHs over
the Bank expenditure for $780, Now what were The
heads oil expenditure included in the civil list al the
r,d referred to? They were, The salaries of the Pre-
sdent and Vice Presdent the salaries all he
fe', theio Gle ks and ers, and the a.e
OF the rsraphernaa OF all their flies; compensation
to both Houses OF Congress, and The
attendant expense; salaries to all the federal iudxes
their mar halls and di-trct attorneys and The cost n
ner court rooms; the expense OF missions abroad and
oil ter 'toral govt rnm~n,s at homo. These were IN.
items OF the civil list, com, rehe ndi rig the whole
penditure OF the administration for all cts exceu
the army; there being at that time. navy. The adj
min'strstion Of the Bank her. FORE actually invoIv.
an exprn tture, rivaling tina, of the federal govern
IN mt in 92. '93, 81 apd 95 emitting this sin ole lie o
'he army winch was ihen on a war establishment The
next Hem OF Bank tax, 10 that OF the profits in the
shape OF annual divide nds These profits are now ,e
ven per Gems but have been les'; aud time ow-
70 an explosion produced by stock jobbiDs were no.
thing Assuming six per cent, for the average OF
~ years, and the aggregate will be 900 OOO In
the third place, h- contingent, fund.- res. rived to cover
losses, is near So 900 900. Fourhy the real estate
including banking houses, ia above S4 600 900 Filth
~, bonus re imbur ed to the Bank, 81 500 OOO SIKH
iy, the interest on the public deposits which the b. nix
was receiving rem the UGit-d States or individual.
while the United Safes was paying interest on IN.
same amount 10 the Bank 10 others was six million.
OF dollars on the standing deposite OF about FIVE millions
The aggregate is sixty six millions OF doars 10 saw
nothing OF the poht the ock ITSELF which lie now
twenty six per cen; equal TO $90OO0G0 ad ii,en 10
the original capial-The annual average of this ag.
kresate levy OF sixty six millions, is above three mil
hons and "a quarter OF dollars; being very nearly as
much as the whole expenditure Of the federal govern
ment in the second year OF Mr.. JefersOn's admins
ra.ion which was but S3,7S7 900; the army included
aud The navy also, which had then sprung into exis.
ence. WIZ Senators r. fleet upon The largeness OF h.
levy, and consider how much il adds The multiplied
onr'hens OF our complicated system OF taxation2 say
complicated: for under our duplicate trm of COVER
men, every cizen is many times taxed and by yari-
Gus au'horliss First, his State tax then his county
tas then his corporation tax, f he lives in city hen
his federal tax, aud, since 1916. his Back tax The
amount CT each is cor sderable OF the whole is ex.
ces'iVe; OF 'h7 Bank tax, 10 addition to the others,
in,oierabie' The direct tax of 1903, which con.
'iibuted so much 10 the overihrownw of the
men Then at the read OF affairs was an inconsiIera
Die odrhen compared to his Bank levy Not so much
as one mioa. was ever paid In any one year un lei
the direct taxi while the ANIMAL levy of the Bak tax
10 three millions and quarter. The one is az tuly
tax a. he Other and as certainly paid by lhs people;
and as the reduction OF taxes 10 the lcy of th
country present ihis contribution to the FEEDER al
BANK, as the TT aud eminent item he ad ard grace
he lit OF abolition. say, to head aud grace the list
for 1t Is tax not only great 10 itself and levied TO
support most dangerous aud invidous institution bu,
uOno ana peeniary oppressive upon the people, be-
cause no part oil 1t is refunded to ihssl in the
shape oil benebeeni expenditure. In the case If eyery
other, tax, In all the contributions levied for the put
poses oil government, there is allie va;ion of he
buthen-some restriction Of the abducted treasure
sms return 20 the peOplesome Institution of syepgf
INTO 'heir rdDks-in the customary reimbursement oi
'he revenue The government usually pays il back
or portion Of IL, for salaries services and ,uppi.s
But, IN the OF the Bank tex there is potIinS nj
ihis enhancement. The Bank refunds nothing: hut
ah NE money makes out OF the people is gone from
hem forever. IL goes into a corner of The Uoion
and remains there: goes iD'o private hands and be.
comes individual property The stockholders divide
among themselves Twice in every year. they make
ne DIVISION oil these modern spolid opina -thess
dearest sPoilsnot OF the eDemy's general killed in
10 odue' but OF An ercen citzSns fleeced at home
This s grievous aggravst on Of the amon of the tax
III Is The aggrava'i0n winch renders tai alton ppor
table. IL Is "absenteeisn'' in a new and Iegslized
o'm tits the whole mischief Of that system oil nbsen
ee'sm, which drains Oft the wealth OF ireland 10 tsr,il.
ne England, france, and Italy, leaving Iceland its
the mot distressed and exhauted country in Eurone
nse OF remaining as God created one of the rich
esq aud most hOursbiig, Eefnal drawing out and no
bringing back, Is process which no peops, or conn