Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-05-29

nation against the Bank the United States prevent the
renewal OF their charter the President Directors The
Bank Of the United States forbidden all use of The pub
lie press for the defence and vndicaon of their own i'm
sutuon they stand indeed in fearful inequality of coni-
ton with their aversares before the tribunal of public
opinion. The local banks of New York for EXAMPLE
grant, with lavish hand bank accommodations and facilities
TO the editor OF daily newspaper who fills his columns
with all the common places of vitupcraun sgans the
Bank of the United States They deny all facility
ms paper essays or communications favorable to- that
Bank Does the editorial voiary of State Banks aud
seven per cent interest slacken in his ervourl his
discounts at the State banks cuaiIed. Does he faer
in his zeal! pressure for money upon the State
banks and his notes called in Does he dare admit
INTO ms paper communication favorable to the mammoth
bank? he loses all credit with his old bankers Does he
presume 10 hint, in editorial article, that, after ALL
bank bound to discount the of six cr cent inter
est may be Of advantage borrowers in a coninu
nifty where the established legal of ineres, seven?
he bccome at once in the estimation OF the local bank
rcctorS inSoiyent and blasted in credit an ii he of
Tor discount note OF hundred dollars, with the hest
endorscrin the city is rejected by the silent vote of ono
or two directors, because the editors newspaper did for
merry oppose and now ceases to oppose the recartcrng
OF the Bank OF the u. s. And then if the editor crauped
and crippled in his business by the pat upon
ms press TO save himself and his establishment from
ruin applies 10 the President and Directors of the Bank of
the United States for an accommodation loan? Nothcy
regard him inscvent and blasted i'm credit
they too must withhold all banking accommodation and ia.
cility from him, tho recommended by the Chief Magis-
of the city of New York himself or hcv viii he
guilty oil the atrocious offence of SubSidsing the press
This statement OF facts is here alphabetically putt is
not intended to charge the presidents directors of the
for Withholding their discounts The subscriber not on
ly approves, but galed their refusal to assign
their reasons for declining discount the offered by
Mr. Webb Had the question been asked them arbU they
had discounted the of the person before their
answer must have been the The acceptance of an
offered note is, by unanimous and act assent without as
Segment oil reasons, and Tor which the reasons of one d
rector not necessarily the of another They
proper subjects of inquiry so long as the disroun
is in violation OF no law. And this principle is equally an.
pcabe TO the President and Directors the Bank of te
United states They arc amenahie to authority only
conformity to the law To the stockholders they are fur
ther accountable for the prudent and discreet
OF their funds. But while the result of that manacemc
mas BEEN Tor series OF years, yield the stockholders
haiyeary dividends OF three and half per upon
their investments, while the stock of Bank is at TWEEN
yhve per cent advance upon its original the mar
ket ana whilst the heaviest OF all the complaints against
the Bank the extcnsveness and universally of lis credit
the subscriber believes that the stockholders and the most
vgiant guardians of their interest NAV wait until am
tual loss shall have happened upon any or dis
count before they shall be justified in imputng either
'hnIess improvdencc or sodid corruption, tho Pres
dent and Directors OF the Bank for having grantcdit
The Constitution of the United States denies to Congress
itself the power OF passing any bill of aander cx post
taco law law abrdgng the freedom of the Press But
here is tangled offence created post iaco under
the denomination of Substituting the Press operate as
bl oil atiandcr upon the bank and Acknowledgement
10 every Editor OF public journal who may happen be
obnoxious to political party in power. The fact cons
tung this most extraordinary crime the mere existence
OF loan discount Of the prescribed Editor at the bauk
summation of which committee OF one branch of the Lee
gature first assumes the right OF scrunizng then of
passing sentence OF condemnation upon the motives of o
parties 20 the contract.
As there is no law constituting The offence tho degree Of
Its nagnity has no rule of proportion that of the
per by winch 1t Is Prosecuted-it will be aggravated by
every simuan OF private piquc of cashing interest Of
poca prejudice or OF morbid suspicion which be
ehis'cu IN me prosecution. committeeman, being a
large stakeholder in State Bank 10 be deeply beneeJ
ny the eXunguishmcn OF the Bank of the United States;
another, linked In connection with anewspaper establish
ment in competition with the Editor TO be atainted; pro-
found political economist welded system al coin chr
rency and credit propitous TO one bankng interest ond
skilsoia political candidate, and following the camp TO share
IN he SPOTS othe victory, might all club therinycnvc fac
uiues 10 swelIiS imaginary respaSs into elOnyand sell
dom would there lack ingredient i'm the composition
the corrosive subnac Of malicious temper, with nsiuc-
tive hatred of all honor and integrity prone always 10 nlr
ana vildny from the mere possibility OF its cx
senec and even to nsinuate corruption without DARING
openly TO aihrmit These consequences which must
ana would follow from the sanction by Congress- either
OF ITS Houses OF the principle that the accounts OF Editors
oil newspapers, as separate class of men, with the bank
10 be scrutinzed 10y committee of CONGRESS- as tests Of
the political opinions doctrines OF their editorial columns
or indications OF the candia;e for The Presidency TO hose
banners they adhercor TO defeat The cbartefng Of the
bank by deducng from The naked fact of exjstir@
loans, large SMALL the dishonoabc conclusion that the
notiues OF the President and Directors of the Bank for
granting these loans, purchase the support Of the
borrowers by bribery aud corruption
But lctit, for arguments sake, be admitted that the ac
conmodation OF loan to the Editor of public newspapc
by the PRESIDENT and Directors OF the Bank Of the United
States is their part, of corruption of which Tho
Congress Of the United States without doing Injustice and
without dcrogaion from the dignity of feir dtics
" have any bearing whatever upon the question whether
the Bank OF the United States shall or shall not be
tered.
Admit that in country where the freedom Of the Press
is among the first elements of the liberty OF The peopIe
Committee of House Of Congress has right TO con
stutc eN post aco, crime under the of subsidzinp
the Press OF That, which the eye Of the law of the land
is and always has been innocent Admit that they have
power TO search into the hearts the President aid D
recors OF the Bank, for dishonest motives to lawful ac
uons-Adnit that they have right to utcrrogate them
Tor reasons which Director Of Bank ever boiud
TO givcAdmit, that after the President and Directors
have submitted 10 these insulting ncuogatores and assign
ed hereasons 10y which they actuacd the comm tec
should still feel themselves justified In cropping day acr4
Tor circumsdniia evidence to dlsiiy the frank and explicit
declarations OF men without slur upon their nerhat
plies OF folio volumes, of bank accounts should be ru,a
ed over, nights and days for variety in the color Of
INK IN entries made by different clerks, with different ink
stands Tor in the spelling OF name. for iucrinea-
lions and ensures in book ticklcr and all
TO substitute tribes light air Of suspicion tic place OF
ac and TO npufc fraud, forgery and perjury where they
cannot be proved that the uusuled characters oil
mem long known among thcir fellow citizens, for lives
without fear and without rcproach, may thus he brcaGicd
ana whispered into dsgaccWha has all this to do with
The question: whether the Bank OF the United States shall
receive charter or noR VI the President, and any
number Of the Directors, have been guilty or 1IafUcysG
non IN their offices. the remedy for i1c offence Is reno.
um from Office. They may be further responsible 10
the stockholders in their persons and properly. The Di-
rcctos, appointed by the President and Senate are at adj
alone. The President Of the Bank is every year la.
bic 10 removal, both President and Director
by failure Of recollection a Director by he Stock
holders, President by the Directors No other
Director be reelected than three cessive wears
IN four. If the Board Of Directors have been guilty