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

OF the Dank OF tae United States, constituting that dou
HE .monvp,y which restricts a, once the powers o.
Congress, and tn. rights OF the citizens.
tbs e, Nc. President. are the chief Of the .xelu
civ, privileges which constitute the monopoly Of h,
Bank OF tbs United States. l bav. ., oxen Of them
DOT a. they de,rty ID bu, ab,'i les have Pc, IT,
ted. have shewn you that they are not cpy evil /,
thsm-sves, but copied trou an .vil example. I nov
wish to shew YOU ;hAt the goveri from whcl
we have made TINS copy, mas coude mn.d the orisns
and after shelving this fact, think shall be able I,
sppea with sensible effect TO all liberal minds follow
tue enlightened example Of Great Britain i'm getting rio
OF dangerous and invidous institution after having
followed her pernicious example in assuming it. Fol
this purpose will have recourse to proof, and viii
read from British State Papers of 1926 will read x
tracts from the correspondence between Earl Liver
pool, first Lord OF the Treasury, and Mr. Robinson
Chancellor OF the Exchequer, side and the Go
vernon and Deputy Governor of the Bank OF England
on the other the subject being the renewal rather
non-renewal, OF the Charter OF the Bank OF England
CoRREsPoN EXTRACTS.
Communications from The First Lord of the Tied-
sury and Chaaeelior'ef.the Erehequer, to the Go
vernon and Deputy GOrernor Of the Bank Of Eng
Embellishments:
:" he failures which have occurred in England un-
accompanied as they have been by the
rences in Scotland tend prove that there have
oeen AN unsoid and deusve system OF banking in one
part OF Great Britain, and solid and substantial one
ia n oih.r 10 Scotland there not more ,h n
'h'rty ban's Hhree ehatered) and these banks bave
sood hrm smd-, al The eonvolsions in the mouey ma
ke In EnEiaud. ard apdst AL the dis to which
,hs manufacturing mi Agricultural interest. in Set
iand, a. well a in Elsiand, ave occs-tnally beer
subj B,uk otui drsct,litn must recessat,ly D..
co'dc e upon tie general uud, rs,ood and approve
r.. The Bank of England may perhaps PROPOSE as
they did upon former OCCASION the extension of the
term oil their exclusive privilege, the the metro
polls and its neighbohood beyond the year 1888, as
the price oil this concession: mmediate surrender OF
exclusive privileges) II would be very much be re
GREETED that they should require any such condi,ioo
Ii is obvious, from what passed before, that
Parliament will never agree to X &. Such prvi-
Ieges are out IF fashion; and what expectation the
Bank, under present circumstances, entertain, that
theirs will be renewed" Jan. 18Th.
.3ns,cer Of the Court IF Directory-Ertraet:
Under The uncertainty IN which the Court OF ID rec
tors md themselves with respect to the death Of the
Bank and the effect which they may have ON The u,s
rests oil the bank, this court cannot feel themselves
Jushhed in recomme ndng TO their propre to give
up me privilege which hey now enjoy, sanctioned and
co"h,med ~ II by The solemn acs Of the legi.la-
ture." Jan 20.
Second communication from the Ministers
EXTRACT.
"The 6rst Lord ct the Treasury and Chapcellnr OF
'ne Exehequer have considered the # he nix
OF tie 10Th inst. The but rel ret that The Court
81 Directors should have declined 20 recommend to the
Court OF P.opre,ors the considers ton Of he paper
vered by the hrsl Lords Of The Treasury the Chan
esllor OF the Exceequer TO the Governor aud De-
putty Governor on the 18Th last The staten ent
contained IN that PIPER appea'5 to the fret Lord
oil tie Treasury and the Chancellor OF the Exche.
qser, 80 full and explicit all the points 10 which
~ rsla.sd, mat they havs nothing further to
add, although they would have been and 8 il
are ready 10 answer, az far as possible, any spe-
cine questions " heh might be pui for the pnr, ~.
Of removing the uncertainty in which the Court of Di
rec'ors state themselves b be with respect to the de-
tails oil the plan suggested in that paper" Jan. 23i
Second anstoer Of the Bank.-ExrRAcr:
The Committee of the Treasury Bank having taken
mo con Iteration the pal er received from the Lord
oil the Treasury and the Chanceo of the Excheouer
asted jan 23d, and finding that his msjes,y's M,sl..
srs perserere In ,h.r desire 10 propose to restrict i'm
heuaieiy The exclusive iv OF the Bank as TO The
number oil partners engaged in banking to certain
distance rom the me ropo; and also continue be o
opinion, that Parliament ould not consent TO renew
the privilege at the expiration OF the POI 10 of
sent charter; hnding also that the by the Bank
OF esabshng branch bank isdeemed by his Msjrsty'.
ministers inadequate to the wants OF the country are Of
opinion that 1t would be desirable for this 10
propose basis, the act Of h 9Th of George the 4th
which states the conditions which the Bank of Ire.
land relnquished its exclusivs vileses this corpora
lion waving the que son Of a prolon CATION of tm- al
though the Comm tee of the Bank canno, agree in the
opinion OF the fra. lord OF the Treasury and The Chan
celor OF the Elk hsquer, that they not making
considerable sasrihce, ajver.ing especially the Bank
OF Ireland remaining in possession of hat pviieg FIVE
years longer Than the Bank oil ugland"Jan rs.
Here, cir! here Mr. President, ia the end of all the
exclusive priv leges aud odous onopoy OF the BaLk
OF England. The ancient aud powerful institu or go
ng The naughty tyrant of The moned woIld-so long
e subsdiztr OF Kings and Nni.ters,-,o long the
ruiu mother Ct rational deb.s and useless wars-so
long the prolific mandatory OF ratoSs and parrers-
so long the dread dictator OF is own terms to paria-
ment.--no" droops tho conquered wing, lower, it's
proud crest, and quaiis under the blows of la. des
pistd asfailanis IL FIRST puts a eous air and
lakes hsni upon privileges anctoned by time aud
commenced by solemn acts Seeing that the Minister
would nave no more TO say TO men who could talk If
privileges ID the nineteenth century, and being re-
minded mat parliament was inc xorabie the bully sud
denly degsneTates INFO the craven, and from show
hight, calls Tor quarter The Directors ccndsscenl 10
beg for the sna lest OF hei former power 70,
Eve years ouY tor The City OF London even; and ef.r
10 seed branches into oil quarters Denied at every
PoiLt hs subdued Jrant aequissce, in his fate an.
Dounces his submission he spirit and INTEL gence Of
the and gu city inks down ia The humble bu SAT
and useful condition OF Scottish provincial bank.
And here II Is tT0h able 10 pause; TO look back and
see oy whA' means his ancient and powerful instiiI-
tlon,-th. B,byion OF the banking word,-was 30 sud.
denly AID 20 totally prostraled. Who did Aad
VIII what wsarOnsl SIR il done by tbal pow.r
which IL now regulating the affairs OF the civilized
woflJ. II " AZ done by tue power Of subtle opipion
invoked By the working members rf the Bitch Par.
haGen'. Il va' d ne ~ SIR Henry PsrnsH who led
TIE adsck Npno 'hr Wellington ministry 90 ths nigh
Of tn 10 be OF n vemb-t; by Sir VIM Pu,,eny MIR
Greuirii, Nj HWn-. Mr.. T. ward Elcr and others
the working ns nbers OF the ri - OF Common.
sucb a. had few Yeas before thrown the egau-
tic expressions Of he salt TAX. These are tn n on
who have overthrow the Bank OF Eoglard Tb-v
began he attack in 1924 under thu di5emr ging CIV OF
toe soon, too soon,-tor the charter had tbeu nine
Year, TO run and ended with she wing that thev tae
began just soon enough They began with the minis
ters In their front, the side Of the bank and end d
with having them their own side aud making In m
co-opertor in the attack aud the instruments and in.
hiciers OF the fatal and final blow. But let va do ius
tiee to hese min'ters. Though wrong in the begin
ming, they were light IN the end; though ch,ts
they behaved like republicans. They were not Lilo
ndcs. They yielded to the intelligence OF the age
they yielded 10 the spirit which pfoserbes mon