Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-01-11


the Bank to wind up its mercantile TRANSACTIONS,
and afford every facility to those connected
with il to prepare for the discharge OF their com
mercial obligations Was it right, he asked.
when SO many subjects Of impor lance to the pub
lie business pressed upon them, was it right 10
throw this fruitful source Of agitation among thems
For his own part, he was disposed to meet the
question at the commencement by moving to lay
it upon the table; but he would not now do SO,
as such motion would preclude discussion. He
should, however, reserve himself for that pur-
pose, should he deem it necessary.
Mr.. McDlfie said, that he hoped whatever
reason the gentleman who had just sat down
might have for supposing the present memorial
connected with the Baltimore convention, he
would do him the justice to believe that he was
not standing there in the character OF an agent
for that convention; If any one in the U. States
might Justly claim to be disconnected with that
convention, he might certainly do SO. So far as
regarded the President. Directors and Company
Of the mother Bank, he did believe that 10 organ
lied body could be found in the United States,
more deserving to be exempted from the i'm
putation of being influenced by the political
movements Of any body at Baltimore or else
where. In coming to the resolution of present
ing their memorial at the present time, they had
consulted the views Of those who thought with
the honorable gentleman (Mr. Wayne) and him
self, more than those of others. IL was much to
be regretted, that this question should be regard.
ed at all as political one. Unfortunately there
was no question. but some gentlemen would be
found able and anxious to convert it into polit.
cal one, having some bearing on that al, absorb
ing point, which he feared was yet to PROSTATE
the liberties of our country, the election OF the
President, What, sir, (Mr. McDufie contnu'
eJ,) is it not possible to bring up question, in
no way properly connected with the subject at
all, without its being forced on our consideration,
what influence it will have in bringing this man
in, Or keeping that man out. He should extreme
" regret the introduction Of the memorial at the
present time. if he thought it could have any
bearing of the kind now, which it would not
have had at a future period. But, does the
honorable gentleman really suppose that it will
have any influence now. in this respect, which
it would not have, If presented two or three years
hencea Does he suppose it wears more decid
ed political aspect now, during the incunIbency
Of him, who has already presented us his views
on the subject, than it would have. when there
should be two or three candidates for the presi.
Dental chairI Those who suppose that such will
be the case. have mistaken the root OF the evil
that root is to be found in the imperfection Of
man; and till that is done away, we must still
look for the same difference of opinion and the
same results. The President and Directors, in
choosing the present time for the presentation Of
their memorial, had been actuated by the duty
they owed to the stockholders and to the country
generally. and what would be the effect. should
we refuse to attend to their affairs till within one
or two wears of the expiration of the charterl-
Has the honorable gentleman considered the i'm
mense labor and difficulty which must attend the
winding up the affairs Of such concern as the
U. s. Bank; that Bank which has furnished a
capital to the trade Of the country OF not less than
fifty millions of dollarsl What would be the
effect of any sudden alteration as to such an in
stituton, not only to the individuals to whom its
credit had been given, but to every commercial
relation Of the Union? 1t might be summed up
in two words-utter desolat,on. In every view
for the interest Of all concerned. -four years woui
not be more than sufficient for the settlement Of
ITS vast concerns, and, in his opinion, we ought
now to act upon this matter, and act de6nitively.
One thing, in conclusion, he would say, he hop
ed that every gentleman would endeayor to APP
proach this question with feelings Invested of par
ty spirit Of political partiaIity.
Mr.. Chambreleng united with the gentleman
from South Carolina, (Mr. McDufie.) in the
nope uidt Wey silouiu aPPoae oiiS S'ea' Yues'
ton without mixing up political sentiments with
it. He referred t" the necessity of the matter
undergoing the full delibcration of the House be-
fore 1t was acted upon, and adverted as one fact
requisite Tor them to inquire into, to the power
Of the hank to issue notes payable nowhere. He
observed, that he had risen to suggest to the gen.
tleman from Georgia not to move to lay the memo.
rial Gil the table, but 10 move its reference to a
select committee. He had voted last year, when
the subject came before the House, to send it to
the Committee of Ways and Means; but at that
period the question did not appear before them in
its present shape. There was no memorial from
the institution on which the House was called to
act, and the matter had been committed to the
Finance Committee along with the ordinary bust
ness which came within its jurisdiction. 1t vas
the duty of the House Wand momentous duty
it was. to examine into the details Of the estab.
lishment of the bank, before they could form
decision as to the propriety Of renewing its char.
ter. They had to investigate and sift it through
out, before arriving at conclusion Of such para
mount Importance to the financial interests of
the community. To examine into its accounts,