Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-11-12
Richmond, Tuesday, Nov. IL.
MR. CALnOUN-BANK OF THE h. STATEs

MIR. CALHOUN-BANKO OF THE u. STATES
what ao,h1,y does tho Richmond Enquirer
We CHARLESTON n epea .. tho Bank
Inc N. York Standard truly remarks, that the
FRIENDS OF the Bank fall from it, like the summer
leaves" Here is proof of it before us. Mr. Chi.
noun was one of the summer friends of this Bank.
Bat we are to believe the G. Mercury he too has
abandoned It-aiter throwing of tile most me-
InoraDle somersets, which distinguish even Mr. G..
himself We shall give the Mercury some of our
reasons for believing that hr. G. was i'm favor of the
Charter. And these for the present will consist i'm
tracing ms opinions and course the subject of
'he subsequently, during the 18th and 18th Con-
crosses.
Mr. Eppcs the Chairman of the Committee
OF Ways and Means, in the 2nd session of the 18th
Congress, january ISI4) In that month n merriam
OF some 100 inhabitants Of New York was present.
Ell, asking for an act incorporating National Rank
IL was referred TO the G.. of w. and NJ Mr. Eppes
reported against it, on the ground that the power TO
create corporations within the territorial limits of
.ie otates, without the consent of the States was
ne'her one oil the powers granted by the Constitu-
roh nor essentially necessary for carrying into eff
i ,ect any delegated power. This position by the
bye, was not duly weighed for the consent of INV
state cannot give power not granted by the Con-
sttution) "' wi"
This Report was referred to the Committee of the
Wnole and early in February, Mr.. Calhoun moved
to discharge the Committee of The Whole and -,
commit 1t TO the G. of W. and NJ who were 10 en-
CURE INTO the eXpediency of ESTABLISHING Natiounl
Bank IN the District Of Columbia "This he cons;.
uerea eonstt'onai and for all practical purposes
would be as useful as the one proposcdn iIf he in
tended to give it the power of establishing branches
In tie states, 1t would he unconstitutional If not il
purposes)
Mr. Taylor of N. York, lex SpeakerA renor,ed =.
bili Tor National Bank in Washington. with n en-
pitai OF ~ millions! (This no doubt, was MIR. CI,s
aca-with Branches, of course in the Smes-and
IL was most nsdious and treacherous breach of
the the, Constitution.) Mr.. Eppes was opposed to The
pm ana would not report it, This bill was aban-
doned alter It's first reading, and never acted on.
IN April 1914, Mr.. Grundy of Tennessee offered
resolution appointing select committee TO enouire
I'M inc expectancy of establishing a National Bank
mT. L. Newton (who is now Bank manl moved the
nuenne postponement of the Resolution 8. lie
icl, ITO aisrespect to the member; but feeling as he
du, irm conviction that The Constitution had given
no power to Congress to establish such nm ;pS,;,,
Hoh The correctness of which opinion hod beep
ried ana settled by Congress-; he could not consent
10 the adoption OF the resolution" The question of
postponement was lost, ayes II, noes so: Mr. Cal
noun IN the negative The Committee was com
posed OF Messrs. Grundy, Oakley Calhoun Castor
&C. lew days after, on Mr.. G.'s notion. the Com
,"I oo was uischarged and no further proceedings
TOOK place during the session.
Ihe 81 Session Of the 18Th Observation-Disclosures
Peu'lon from N Y. was presented, PRAYING for n Ma
uohal Bank, which was referred to the C. of w and
i m Inc Y. made Report on the Finances, en-
cao'nS resoiutions but neither touched the sub-
Ject OF The Bank. Mr.. Eppes laid before the House
e.ter rom the Secretary of the Treasury con-
tanning, amongst other things, distinct propos,on
Tor Bank. The subject was referred RI ,hn O.
mltee of the Whole on the state of the Un;on ond
tney reported II resolution in favor of National
nark' MIR, Eppes opposed it. He said his SEMI
mems IN relation 10 this question were well known
ana unchanged. However necessary no n,;oh, I
heVe the agency of such Institution at Me present
momen, WAR; he could not give his consent to n
measure which he believed contrary TO the Cons,i
tu'ioh.-Mr Clopton called on those in favor of
such AN institutions TO shew in what part of the Con
nod 40 nv,
iuuon was however carried by ayes and noes and
OH ordered TO be reported by the c. of W. and M
.Nor; H. lSl1-A bill was reported, and sent to the
o. OF the Whole. (It proposed canitoI of 5O nil
lons) The bill was debated and yarions o,oend-
mems moved, when Mr.. Calhoun said he had an inn
portant amendment TO offer. lie accordingly made
an eIiDorate speech, and proposed bank with so
Inions-paymentS of subscription 6-J5ibs onI, "a,
SPec,e remainder in Treasury notes-It gave rise
10 wide Debate of many days.-Mr c. J. In
gersol OF Philadelphia used the following ren,ork
AFFORDS me pleasure tob bear testimony TO the sa-
usiacuon with which followed the gentleman from,
>. Carolina (hlr. CalhounO in his deveIopement of
ms Substitute for the system recommended by the
secretary of the Treasury, &c.-and whilst / do
thit gentleman the justice TO say that his views were
exhibited III Il clear, connected and well-dipested
discourse, and showed, ut least, his own preparation
ana capacity for explaining and supporting any f,yo-
rite PROJECT lie may choose to Introduce vet declare
my unequIvocal opinion, that his appears to me the
most JantdSticdt, impracticable and will add pcr
ilcious OF all the plans, that we could adopr calcu-
lated inevitably TO destroy the public credit of this
government, and damn it TO all eternity MIR C. 8
amendment however passed
Mr. Lowndes moved TO reduce the capital TO 30
millions; which was carried and on the final vote on
the I'd reading of the BILL was lost by vote of 40 TO
lOl. 30 Mr.. Cahoun's project was rejected i'm the
House. In October, 1874 the subject was resumed
IN the Senate, and the bill passed, and was sent to
the ILL., of Rim December the bill Of the Senate
came under consideration of the House-NIr CIop-
ION moved TO STRIKE out the LIST section, and deliver
ed long and an able speech The motion was
rejected by II to 30.
The bill was ordered to be engrossed and read n
I'D time. The final vote 81 for and 81 against
1t; and Mr. Cheves (hc Speaker decided against it,.
ana the bill was rejected.-Mr. Hall moved con
sderation, which was carried-and after some de-
pate, ana various amendments it passed the House.
and inally the Senate.-'rhe reader will rccollect
tIat Tie Dill was vetoed by Mr. Madison Presilentl
ana thus ended all the proceedings of The 18th Con-
gress
In the LIST session of the 18th Congress the Pre-
sdents Message on The subject of an uniform Ma
uonal Currency, was referred to a select COMMITTEES
Mr.. Calhoun, The Chairman and others-On the
Sth JAN, 1916, Mr.. Calhoun reported n hin es,oi,
fishing National Bank-!the present bill When
the bill was taken up, he made his famous speecb in
which he not only maintained the Constitutional
power OF Congress to pass Bank Charter but as
serted that the general tendency of Banks was 6,po
rao'e 70 me liberty and prosperity Of The coi,ltyy
Inc only question which he thought it necessa-
Iy 10 DISCUSS, was under tCim modification were
Banks most useful, aud whether tic II : ought or
ought not to exercise the uoVver q, cs,,Ll;,L - NJ