Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-06-19
POLITICAL.
THE BANK BILL.


The bill to continue the Bank of the United States pass
cd to third reading in the Senate, Saturday last by
6een present we understand the majority would have
been eight.
The bl as has passed the Senate, contain, in sub
stance the following provisions
1. The Bank charter be continued for fifteen years,
from and after the 81 day of March, 1886; that being the
day on which the present charter expires
2. The Directors may appoint two more officers to
sign notes less than hundred dollars which shall be
binding on the corporation in the manner as if sign
ed by the President and Cashier
3. The Bank is not TO issue put in circulation any
notes, any checks drafts less denomination than
fifty dollars, which shall not on tho faces thereof be
able at the bank where issued.
d. The Bank, and all its officers shall he bound 10 re-
eelve In payment OF balances due them other banks
notes or bills Of the Bank of the United States wherever
made payable on their faces
8. The Bank is to hold no real estate (eyccnt hank
buildings and lands mortgagod, &c.) longer period
than five years.
g. The Bank shall not establish or continue more Than
two Offices in any State.
7. The Bank is to pay two hundred thousand dollars
year to the United States for the benefit of the charter
during the whole period OF fifteen Years
g. 1t shall be lawful for Congress to provide by law that
the bank shall be restrained, any time after March g.
1886, from issuing keeping in circulation bills of less
denomination than twenty dollars.
o. The cashier shall report annually the Secretary of
'he icasury the names oil all stockholders and the Trea
surer of any State, request, shall be furnished with
list oil stockholders who may be citizens of such State
,, IL viii be perceived by readers, that with the ex
S'a the section continuing the charter, and that nu-
thorizng the sIgtatGf OF small bills by other officers be-
sides the President and Cashiers. the provisions and en-
Bank, or increasing its burdens First as to the bonus
For the present charter and for the whole twenty wears
the Bank paid ONE MILLION HALF or DOLLARS:
Tor the new charter, and for the shorter period OF fifteen
years, The Bank is to pay hundred thousand dollars
year; that Is to say, THREE MILLIONS IN ALL.
The circulation of SMALL checks and orders is proh
bited.
g. All notes issued any Office shall be payable at that
office. " w
4 All the Offices bound to receive the notes of all
other Offices when offered in payment balances due from
State Banks.
o. The very important power is reserved Of Restraining
the circulation oil all bills under twenty dollars This pro.
vision was inserted for the alleged purpose of giving p
large portion OF the circulation of the Bank 10 the State
institution, if the States shall be of opinion that the nun
he good requires withdrawal from circulation of all notes
under five dollars with view to the introduction of
greater portion OF specie into the general circulation
o. The number OF Branches is limited TO two in anv ono
State. my ~
La Committee Of the Whole a section was introduced
for distributing the bonus among the several States ac-
corinS TO numbers; bat this section subsequently
rejected and the money is to be paid, like other public mo-
MES, into the National Treasury.
1T seems TO us that this bill very fairly presents the
question: whether the Bank OF the United States shall he
continued; since it introduces new cause of dispute
but on the contrary, contains restraints on the
Bank introduced to give greater security the public in
terest5.--.Pdt. Int.