Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-03-03


Mr.. WamOugh moved that the question whether the
House would considerable resolution be put
Mr. Polk said, the resolution having been presented and
accdon by being postponed I'LL to-doy-this question was
out OF season
After conversation the point of ORDER as well
upon The circumstances in which the resolution NOW came
PIN winch several mcpbeS took part, the Speaker de-
cIded tia, the resolution having been presented by unan
consent, and the consideration of il postponed Till this
uay as appeared by The Journals it in the pos
session OF the House.
MIR Williams moved to lay the resolution the table.
=. roster said il the gentleman from North Carolina
persisted in that notion he should feel compelled TO do
what Ile had never before doiie-,o call of the
Mr. McDuAe said he hoped the gentleman would
withdraw the motion to lay ON the table.
Nr. Williams then withdrew his motion to lay on the
table and moved To refer the resolution TO the Committee
of Ways and Means.
Mr. Clayton said he had atlered himself i'm presenting
,s resolution, to have found it acceptable those who
were favorable, and those who unlvorable the
re- charering OF the Bank 1t was subject in which the
whole country deeply concerned. Ii the manage
ment OF the affairs OF the Bank had been had
representcd-no objection could be anticipated from its
ilehtls-any scrutiny TO which il could be subjected
Wou IN ther view, place its claims stronger grounds.
nut opportunity for Investigation is dec,ed, the infer
The Speaker said it in order go the gcncr-
al merits under the present motion to refer
Mr. Williams said he would withdraw his motion TO re-
Ter, IN order TO give that opportunity.
mr. clayton said that in appointing the committee
tenpaed by the resolution, the House only exercised the
power expressly given them by the charter of the Bank
lh u read this provision in the Charter The respec-
table have stated this power be wholesome and ncces
sary one Mr. c. quoted from the report of the commit.
Tee OF Ways and Means The minority of that commit
Tee mink II is necessary TO exercise this power-GMr
read from the report of the minority. it was in conse
quence OF their reports that he had induced to pre-
sent the resolution under consideration report of the
majority oil the committee placed the claims of the Bank
10 the renewal OF its character the broadcast ground MI
on proper and careful investigation of facts il is sbewn
TO be OF much Importance will il not STRENGTHEN ,hc
claims But if on the other hand the friends of the Bank
SHRINK from the enquiry the inference will be iayor
In Sfnfn IL.
wished might be examined into, of which he had drawn
up list by way of bill of Indictment Some of them
al violation OF it,
l. The illegal issue of seven millions of branch bank
orders rs currency.
usurous contracts relative deprecated bank notes
az inc w est Mr. G. read part OF the reported case i'm
the u > Supreme Court Bank of the United States VS.
owlngs ct. al, which Proved lie said, distinct case or
usury, and there many others instances in Ohio and
hehueky' involving nearly million dollars in each off
B. The practice of compelling borrowers to draw do
neSc bills at an us'rious discount in cases where sim
pie loans OF money were requested.
!. The non-user of charter from 1910 IN 1904 :;
nor issuing notes from the branches of the south and
D. Building houses for rent. Mr. c. commended that
purchases oil Plantations orany speculatons in real estate
were contrary to the charter. ''
o. vi the capital stock, there not due proportion
o com lie SAID The Government deposits l6 900 600 dol
nrs-those oindiyiduas 5000, 900 dollars The crcm
,auon above 20 100000 dollars To all these they
had not more than 1905, 900 dollars
a. Foreigners voting for directors through trustees
Mr. G. then stated list of abuses though NOT vo
laon oil the charter They wcre-refusng the cash for
notes OF the Mother Bank take them in Jeposii AT
the Branches: aioring facilities Members of Congress
ueh'eu 10 oher citizens: proceedings between the Bank
ana brokers, relative TO Stocks: facilities TO Printers Ed
s' lawyers &c management upon local Banks to pro-
cure Peons in favor Of recharering the Bank the pre
stare OF the Bank: amount of coin and bullion drawn
ny "e bdhK from The South and West the ESTABLISHING
agencies, consisting OF single person. for the purnose n
trading In Exchange After stating the above points "a
requiring investigation, Mr. c. said the Bank were tho
a had
ed upon the table, ndng the renewal OF the
charter. They got up with great facility Several
States had expressed themselves unfayorabe TO the mowers
now exercised by the Bank. He was aware that il was
not deemed fashionable here TO listen TO the voice or %
states lie thought the States were entitled TO as much
respect as any petty monicd corporation whatever The
EXAMINATION he had moved was required by the OF
'he pubic In his State the Branch Bank had been
Suue'Cu IN me most ntoerant manner The leading
officer oil that institution has publicly threatened what he
WIN 20 WhGn the charter OF the Bank is renewed He
oPGu iuH inquiry ln'o the proceedings complained of
would be made. Ii due the Importance of the suh
lect' Upon former occasion committee was raised by
hls House. and full investigation of the affairs of the
BANK was made, IN order TO satisfy the public of its stand
ing such an examination the Bank owed TO itself al this
time I would enable il TO prove TO the world Inv obcr
than IFS statement of lis soundness and cor
RICHNESS OF procedure But the Bank refuses TO permit
ths step 10 be adopted it gives up all claim to the
confidence of any branch OF this government
Mr. Wayne said he understood his colleague NIr Claw
toni to say that an officer OF the branch bank had threaten
ed what he would do after the charter was renewed He
nc had used threats but he had doubt
Oh, mat the Bank would act as had been suggested
MI Lamar SAID ne had evidence in his
correctness Of the statement.
Mr.. McDullie said where anv substantial cbaroos oro
submitted TO the House under the authority of rcsnecta
bic he felt bound 90 into the inv
what might obvious that the resolutions before
the House imported an enquiry of a grave character II
not to be lightly done. The gentleman from (corca
(Mr Ciayton had drawn up his ndictmentit contained
some 10 OF 20 counsIIe would take the first as sneci
men OF the whole 1t related to the Branch Bank orders
Upon lair investigation all the other counts would
end as TINS would on being understood The charge
II, that the Bank has violated its charter. How
For doing that which the charter expressly aubori-
ses-in issuing bills of exchange? What objection is
there to dealing in exchange. VIII you denounce the
very object OF the charter! What after ALL is the oreat
crime against their charter committed by the Bank2 Wbv
nave they been arocous color their paper on which
their drafts made, which gives to them resemblance
to Bank bills ihsis the real offence This breach of the
charter The idest oil all talk. 1t bear no discussion
lie would not have recommended bills of EXCHANGE so
small IN their amount They required by necessity
The officers OF the Banthe President and Cashier Win
incapable OF doing sufficiently meet the public wants
Has any body been ninredby this course2 is not the
Bank liable topay them? The Bank is authorised bv lis
charter 10 deal in exchange had given the branches
authority TO draw viii any body say that the Bank is
not liable? Oh! but the drafts are payable no where
idc ey are payable every where In this respect they
differ from the ordinary Bank notes. which were ONLY nav
able where they issued while these drafts are bald at
all the branches. F "
The upon the broken bank notes is subject he
thought, to demurrer Mr.. Med. went into full exnIa
nation OF the circumstances of the reported case which
was not he said, settled facts, formed bv verdict hui
)n case arising on demurrer Besides the former diff
,ues ought not to be visited upon the present officers
AS 10 me purchase oil Domestic bills OF exchange that was