Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-10

measures n by
weight 10 be felt in the election OF II. officers
But the circumstances above stated were not Of them
selves sufficient TO prove that the Bank had sought by
Its money to obisn political power and exercise. by
that controlling influence on the me asures OF the
Government, recent Developments have furnished such
proof as 10 leave no room Tor doubt have the honor to
ed by four OF the public directors in the Bank showing
the same time the unlawful manner in which its bust.
ness - conducted, and the unwsrranabie purposes to
which its money has been and s,il Is applied IL will be
seen by the proceedings therein stated that the whole
sspa' 'nc n."S s IN cneef placed a, the disposition
OF the PRESIDENT Of that institution lie is authorized to
experh what he psases i'm causing to be prepared and
circulated such documents and papers as may comnun-
cafe 10 TIE people nioma ion in REGARD the and
operations OF the Bank" Aud he NAV therefore, under
the very indefinite terms Of the resolutions employ ma
ny persons as he peaes such salaries as he thinks pro-
per- ener prepare daiy paragraphs for newspapers in
favor o the Bank, to pamphlets aud essays to in
iuencc public Judgment Aud he may provide for
presses and types, aud placing them in the hands OF
employed and paid by the Bank. There limitation
may thus sxpcnd in different parts ofihe u s. From the
description oil articles which appear paid for
under tins resolution, that the President OF the
snom has supposed that publications containing attacks
upon officers OF the who are TO stand
IN the way OF the renewal OF the charter Of tho
modes oil conmunica ing to the people information in
gard to the nature and operations Of the Bank This con-
ucton was appears, approved by the Board, they
continued the authority in his hands, unchanged after The
manner IN which portion OF tho money had been applied
was laid before them. And lei, to conclude that
This institution is now openly in the field political
destruction OF the political standing OF those who are
opposed TO The renewal OF the charter. The sum actu-
any charged to The expenses. under this resolution,
Is suhcien,Iy startling. How much more may have
been already squanered we are vet to learn and the
work OF preparing and circulating such publications is
suli Is presumed, going under the last resolution
OF the Board Ii s, moreover impossible 10
the specific purposes which the money may in fac,
have been applied, since vouchers are not required 10
show the particular service. Tor which il was riysn
Win these positive proofs OF the OF the Bank TO oh.
an power, aud to influence the measures CT the Govern
hes ifafe In or
when this evidence was before me, had failed with
draw the deposes Of public money from the Bank, il
would nave been lending the of
this Department 10 measures which but too we'll cal.
cna'ed to destroy the purity Of institutions and en-
danger thereby The liberties Of the people, 1t cannot be
supposed that these expenditures are ius6abe ON Tho
ground that the Bank has right TO defend ITSELF and that
e money IN question: was therefore properly expended
some oil the items accounted for sufficiently show in ~ hat
manner II was endeavong defend its interests II had
entered the field Of political warfare, as political
usan was endeavong TO defeat the election of those who
opposed to its views II was striving by means of
ITS money TO control the course OF the Government bv
driving from those who were obnoxious to IL, re-
sentiment Can it be permitted to a great monieJ cornsra
ton to enter such a controversy and then ;u.,ifv IL.
conduct on the ground that is defending own inter
esi! he right OF such institution to interfere in the
Pohhcai concerns OF tho country for any cause
can never be recognized; and defence like this ON the
part OF the Bank could not be tolerated even if the in
Wuua s.ocShoiiers alone were thus using their own mo-
ney 10 promote their interests But is not only The
money oil individuals which is thus applied The one
NTH oil the capital OF the Bank amounting TO seven mill
lions OF dollars, belongs to the United States and the
NTH oil the money which has been expe nded and is vet
10 he expended under this resolution is the
the public and does not belong private individual, Vet
the Board Of Directors right not onlv to ahor
re the expenditure OF the money Of individuals stockhod
es' III oruer TO promote their individual hut
have also, by the resolution in question: taken upon
selves TO give the like authority money which be-
is an institution which deals thus with the monev of
me people, proper depository for the public funds
Wo s@cn light openly claimed and acted by the
boad oil directors, can the money of the United State.
be deemed safe in its hands. The same princinIe that
would sanction the application Of portion of the public
money 10 such purposes would justify the like use of all
that may come TO it's possession The Board of Drec,or
nave no lawful authority to employ the money of the Uni
ea o.aes Tor sIch objects So tar the nation is con-
cerned IN the character Of the Bank the people
their own representatives in Congress can lake of
ner own rights and vindicate the character of the Bank
'hey think 1t is unjusly assaulted. And thew do mo-,
need the aid OF persons employed and paid by the Bank
whether Its charter be constitutional or not nor
have they authorized the President and Directors Of thai
institution to exPend the public money enlighten them
The resolution in question: is moreover in direct viola
on o. @ act OF Congress by which this corporation
And II Is difficult to imagine how the unl-
m anu irresponsible power over the money of the
Bank, which the Directors have given TO their Presien,
can be reconced 10 the clause in the charter which re-
CURES seven Directors TO form Board for the
oi business IL the expenditure of money! for the nr
poses contemplated by the resolution be Legitimate part
OF the business OF the corporation the Board could No,
lawfully transfer it's officers unless ,hev
ny resolution surrender into the hands of their
tne eaure power Of the corporation and commit the
The law has declared should be exercised by the Board of
Directors - ~ -
Chief Justice Marshall in the case of the Bank of the
United States us Dandridge when speaking of the bonds
required TO be given by the Cashiers of the Bank saws
UT requires very little knowledge Of the interior of bank
TO know that the interests of are
ted 10 very great extent TO these, and other officers
was, and ought to have been, the intention of Com
gress TO secure the Government which took deem inter
est 10 ihs Institution. and to individuals who en-.
parked their fortunes in it, the faith of the Govern
men as lar as possible from the NAL practices Of it off
Direct of R.cl,
Cd on principles directly opposite those stated by the
CheI JUSTICE And instead Of endeayorinq In secure
as lar as possible the public and individuals from the
oil its officers they place the funds of the
Dk uhuet me control OF single officer from whom nci-
er security nor specific vouchers have been re auired
IL Is true that in the opinion which the Chief Justice
gave I'D the case from which the above passage E ouoteJ
ne uttered from the Of the Court But The difference
was on other principles, and the one above stated
In forming my judgment this part of the case I
no. 'egaroea Tue short time the charter has yet TO
run but my conduct has been governed by
Wheh arse altogether out Of the course pursued by the
n'nk and which would have equally influenced the de-
cisIon oil this department, in relation TO the deposites II
he Bank were now in the first years of its existence
nu upon s view OF the subject, the following propoA
sl'lons appear TO be fully maintained. 'r
lst That the Bank, being the fiscal agen, of tho no.
vernmen IN the duties which the law reauresit TO
iofm s liable to all the responsibilities which attach 10 fe
character oil AGENT in ordinary of prncipai and
agent among individuals; and it Is therefore the duty Of
"o o"ceT OF the government to whom the power has
enIuseu 10 Withdraw from Its possession the public
iunus' whenever its conduct towards its PRINCIPAL ba,
oeen such as would induce prudent man in p,iyaie life
10 dismiss his agent from his employment.
@u' ihat ny means OF its Exchange Committee IL has
arranged ITS business, as TO deprive the public servants
OF nose opportunities Of observing lie eonduc which The
fnr Tho