Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-05-24
From the Washington Globe
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Ills scmewi,a, remarkable that we find all those gen.
nemen who have assumed 10 be the srciusire friends OF
state Rig ats. so absolute IN their hostility to State Banks.
The idea OF a consolidation Of the powers OF Government,
shakes their nerves; aud yet they have not the slightes,
objection to a concentration Of all the powers of the cur
rency, commanding the circulation Of the life. blood of the
community, in tho hands OF a single individual. A great
monied corporation, extending il, branches into every
State, and exernng unbounded sway over the State iusti-
tutions--conirclling by its loans or calls. by the superfui-
~ oil the circulating medium il can create by its opera
tons, the value OF every thing in the market-ab bank. Gem.
manning through the Influence excited over its debtors, its
tenants, its attoinies. and agents, and by means of direct
bribery, in some Instances. an immense power in the cleo
tons oil the people-a bank substituting the press in every
State OF the Union, and directing its energies to the acoui-
sition and perpetuation OF political power In the hands OF it's
secret emp'oyers-ab bank assuming to control the Congress
OF 1.-The u 5. by the means which Walpole introduced 10 &C.
cure his Authority over the British Parliament-a bank
which has even attempted TO elects President of the u. s.,
in the person Of one Of its retained attornies-a National
Bank, embodying all these consolidating faculties. has no
terrors for MIR. Calhoun and his pseudo State Right party
and presses-No: These pretended devotees who pervcrt
ness TO support State Rights, renounce all his ", warning
counsels In relation 10 the dangers hire atened to the indie.
pendence, no, only OF the State Governments, but that Of
the Union, when directed against the all absorbing and
corrupting power Of the Bank of the U. States.
The Telegraph and The Richmond Wing, and other or.
gans OF tho ae& coalition, are tho first to express alarm
lest the States, under the auspices of the pressn, admin.
istraiion, recover the rights which were crushed under
the weight OF the Bank OF the BArings and the American
aristocracy, in the forum OF the supreme court. They
are alarmed lest The power TO tax the States upon every
dollar oil their currency, may now be wrested from the
nlonopoiy-iest the states themselves should resume. thro'
their own ins,itu; ions, the right OF prov ding bank facilities.
and should receive, in their own treasures, those profits
1.-THE bank business which are now poured into the pockets
oil foreigners and Other non-residen,s Of the states in
which they accrue. And above al, they ate alarmed les,
a system shall be established through The medium of
State Institutions, enabling the Treasury Department TO
manage the fiscal concerns OF The government, without the
atd oil one OF the parties 10 the Clay and Calhoun league.
and conieriing, in return, upon the Sta'es Tor the service,
The whole benefit OF the pu"lic deposiies.
We think those who build their hopes OF political prefer
ment upon the power Of the Bank of the United States.
nave good reason for their apprehcnsions. If the States
choose to resume their rights, we have no doubt that a time
approaches, proPiious to their wishes. They may estab-
hsh State Banks and place them on such loundations a. will
make them safe repositories and agents for the Treasury.
instead oil being obliged to borrow foreign capital to sus
tam them, while the wealth OF the nation is given to a Bank
Of foreigners 10 Cypress and ovcrwhelm them, they NAV,
we have no doubt, avail themselves of that support and
credit, which alone has enabled the Bank Of the oligarchy
to overpower them.
Whether the States will relieve themselves from the
thraldom TO which they are now subjected, will depend
upon themselves. Their former efforts were defeated by
the combined power OF the National Bank and the National
Government. The latter will no longer, we Imagine, be
found sueservient TO the interests of foreign Bankers.