Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-27
Richmond, Friday, Dec. "a.
THE, RANK.


The true Friends of State Rights oppose the u.
5. Bank because il is repugnnnt the Constitution
OF the U. 8. This was the ground triumpbantly
maintained by Mr.. Madison in his speech against
the hrst Bank; by Mr.. Jefferson i'm his Cabinet OPT
Mon; by the Legislature Of Virginia in their nstruc
uohs 10 their Senators, and by all the old Republi-
can party: No man who goes for strict limited
CONSTITUTION, can abandon this ground. Subscribe
to the Bank AMI we sign the death warrant of the
true principles of the government. This ground of
the mnconstitutionaiity of the Bank is like atlaman
No republican can surrender il. lie cannot com
promise it.
But besides this ground, the times warn us against
the erpediency of establishing such tremendous In
stitution as the present We ask no other evidence
ofis dangerous and alarming power, than the
which are passing before our eyes. The influence
exers over the whole monetary system of the
countryside pressure it is producing-the panic it
IS exctng-thc control il is eXerting the cleo
tons, the press the sentiments of many citizens
and the measures Of one branch of the Federal Le-
gislature-the violent struggles it is making for its
lie, the confusion 1t is spreading for this purpose,
anil the difficulty of putting end oit-Ilie whole
spectacle Indeed, which is now presented our con-
sideration, is an ample evidence of its immense and
dangerous influence.
Perish when it WILL it will die hard We cannot
get rid of such monster, without great struggle
Many will have to rue the mschiefs of its establish
ment. we are now paying the penalty of the sins
of those who created it in 1916 Let it wind up in
this year, or in March, 1884, or in &c. the curtail-
ment OF its immense business and the redemption
OF its numerous notes, must be or less felt in
almost every branch of the community Could any
man expect, that if the public depostes were moi
Withdrawn till March 1885, ut the expiration of its
charter, that it will wind up without deeply press
ing the people? What when besides paying uT
the public deposites, the Bank would have TO pay
up all its private deposites, and to redeem its own
notes in circulation, would not the pressure be much
greater, than it would be at This time {?
Let IT wind up, then, when it may, it will produce
some distress. But why does it add to it more than
it need do? Why curtal 10 millions i'm months
is 1t not to produce artificial pressure and pe.
neral panic, for the purpose of nmidating the peo-
pie and their representatives into II renewal of it.
charter. If it succeeds i'm this design it is quarter.
ell upon the country forever. That very consum.
nation would be one of the most alarming proofs OF
its influence and It's invincibility In fact, il has
come to this ssue-Either we must rule the Bank
or the Bank will rule us. Let it once he shown
that its usurped charter is strong for the Cons
tuition, and what friend of the Rights of the States
or of the principles of free government, will moi
trembe for the institutions of his country?
Strengthen your State Banks-Let them strength
ell themselves by importing specie from abroad, OF
procuring il from merchants who will mport IT. nv
means of English Bills which are now so low as
IL per cent? These State Banks would by de.
grees extend their accommodations, and might take
the place ofthis Mammoth Institution. BY proper
arrangement among those Banks, and with the aid
OF certain treasury measures adopted by Congress
in relation to their paper, it would seem practicable
to conduct the finances of the u. States i'm safe
and convenient manner.-And what friend of the
State Government, or of free People, would moi
prefer the State Banks as the repositories of the
Public Revenue, erected as they by the State au-
thority and revised AM, controlled by the States IA
one great consolidated National Bank, established in
violation of the Constitution ITSELF spreading it:
gigantic arms into every State ofte Union unc on
trolled by the States, uniting and bringing its inn.
mense energies TO act i'm every directions, and upon
every point 1t pleases-operating upon the press up
on the elections, upon the politics of the country and
welded by the will of one in the city of Phila-
deiphla! The same advantage our State sovereign
ties have over consolidated government, the same
have the State Banks over one immense Federal
Insttution.-Ths Bank is almost without any check
but the State Banks check each other; and thew
are moreover checked by the States to whom they
are indebted for their existence-To us, therefore
1t seems the very excess of folly, for any man who
preends TO be friend of State Rights to affect an
unnecessary jealousy of the State Institutions while
he is substantially throwing all his weight into the
scale of the National Bank The thing is inconsist.
ent and absnrd-and an intelligent People will not
be slow in finding it out
tWo understand, English Bills bavo so,J in Nsu
York as low 3 I2 per - " ~ -" -"