Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-10-05
POLITICAL.
THE VETO AND THE BANK-No V
LFrom tlle Globe. /

alt argued that possession of this English capital
gives great influence the British government II
this reasoning be sound, had better revoke the inter.
dicon TO aliens holding land, and invite foreigners
engoss the whole property real and personal OF the
try We had better exchange at The condition nj
Independent proprictors for that of Stewards"
Sevoutenths of its capital are in the hands OF foreign
ers, and these foreigners chiefly English subjects. We
are possibly on Ue eve 1l rupture WIN her-in that
do you dPprehend that The English Premier tcould
experience any dBiclty in obtaining the entire control
o. nus institution T-1ir Cidy'S speech against the
Bank in 1911.
We have already shown, that in 1925 the stock of the
Bank of the United States held by foreigners, ST.
oil2O0, and that at the close of 1881 was SIS 405 500
having increased 36l,300 in little than three
years. We have shown also how the localized exeu,n-
lion of foreign stock from taxation under the proposed act
TO renew the charter, would Immediately have thrown
nearly the whole stock into foreign hands
of the stock of the old Bank Mr. Clay assures u.s. were
held by foreigners, mostly English subects fair
to conclude, that at least the proportion of the stock
Of the present Bank would have travelled in the
fection.
Ia 1925 the annual drain from the United States to pay
foreign dividends being per cont on tho stock held
By Foreigners, was $2S2,Ss5
Bs5
But for the Presidents veto it would have continued to
increase. If scven-cighihs Of the stock had passed into
the hands of foreigners, it would have at least
wards of SEVENTEEN Millions OF DOLLARS.
In fifteen years, the paid TO foreigners, in dividends
would have been equal to the whole amount of thcir
stock; and after being drained of cnty four and half mil
lions OF dollars in interest the country would have been
obliged toPay up the same sum in principal be content
TO submit to this drain forever.
The amount paid to foreigners dividends in this
Bank produces no returns 1t brings back articles OF
clothing, food drink, add the comforts the pie
sures OF our people IL is as much lost TO them it
sunk in the
Iis often argued that the use of foreign capital is be.
nehcal to the country II it be beneficial for country
TO be in debt, then there pausibty i'm this arg-
ment The blessings of debt are felt in England
The government has borrowed the capital of it, rich sub
ecs, and taxes the whole people, TO pay the interest
ill the remaining profits OF labor scarcely sufficient
sustain lile in the laborers and their families To the
who, md cuf has
not enough left 10 redeem his family hunger
Ito the miserable operative of Manchester, who in spite
OF his utmost cXcIi0ns, his wife aud children starving
around hint is poor consolation to be told, You have
through your government, the of thousand millions
Of capital for which you ought cheerfuIly pay, be-
cause II IS very beneficial TO the country" Such Ian
guagc would be insult added his Suerngs In the biz.
terness OF his heart be would lis government
md curse that capital The only use OF which has been TO
reduce him 20 bondage than Egyptian. Yet the
debt OF England is domestic deb debt due from
the whole nation TO few suhecs;thc interest paid up
on 1t is not carried out oil the kingdom, the aggregate
wealth Of which il diminished by its exacton II on
~ piunges the many into want aud misery enrich the
In relation poor Ireland the debt Of Great Britain
may be considered foreign debt 1t carries of to Eng.
land almost the entire profits OF her labor, and scarcely
any class Of her people entirely exempt from the COM
mon suffering. That Island has also thc Of smother
species Of toregn captu which cxcmplfcs the blessings
OF such system Her great lanlhodcrs reside in Eng.
land She "hos The IF their copitai, which their
lands, the whole income Of which, except barely enough
10 support The hbocr- 1nfporicd 10 England and there
spent The practical effect as ~ know, las been to
reduce almost.the entire resident population state Of
the most AFFECT poverty and dependence. The patriots ol
that Island consider it OF heir greatest grievances
that they havs the OF much foreign capital
many Of the property holders Of the country live abroad
that the profits Of Irish labor instead OF being spent in Ire
land, go 10 enrich foreign lands.
The transfer OF Bank Stock TO the nobility and gen.
try OF Great Britain, places the United States in the con.
diiion o Ireland Look around ia this District Are moi
many Of c most elegant houses and best lots property
OF tic Bank Does not, n other places own, not only
houses bat h0uses and srms Are not the renters
OF these houses, warehouses and farms much the ten.
ants OF tho stockholders the farmers Of Ireland OF
the nonresident bishops and bdrons? When the STOCK
shall have passed into the bands Of he British mobiles will
not the condition OF people be- precisely like That Of
the Irish? VIII not The profits Of heir labor 90 To enrc
Inc same men or ilc s1mc class Of men ia Eneland2
The direct renting Of real property from The Bank yi
bc but small portion Of he evil The property and la.
Dor OF all the debtors Of tbe Bank will be az cHecuay
cured 10 our British LORDS and masters as IL the farm.
they cultivate and the houses they occupy, were rented
Of them directly II the duucr borrow Of he Bank $1,000
II will take $50 worth Of his produce pay tie interest
he'iles time aud incidental expenses in attending 10 hi
Bank business worth perhaps go more. IL is tie .amc
TO him az 1t be paid 60 500 per year ~ rent for hi.
farm " the owner Of house borrow $4,000, il Is the
the same 10 bin II be paid rent Of $500 tor his house
Al me interest or discount piid upon moneys borrowed
from i' bdnN arc as much tax upon the income and a.
Dor OF the country a7 orc direct Under the propos
Ell system thousands oi population would be rs efec.
tudy the depenlanis go the nobility of Great Britain a.
are the great mass Of ihe people OF ireland For some
bs TO some, their degradation would not be % abieet but