Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-12-31


" "a obviously within ts reach -
Now, SIR did the Secretary suppose that we have for
gotten the Executive Manifesto OF September last! Did
he suppose that we have gotten that the Pres
dent higher n authority than him, had declared, that
the LIST day Of October, at fithes' or sooner the
could he made, the depotes should be
moved? Was not the Bank found to give credit that
satemen and yet sir we are told the Bank might have
come the Secretary OF the Treasury for information
the subject? Why, sir, uho was Secretary OF the rrea.
sury at the ne' MIR. Duane still Secretary Of the
Treasury; aud what sort of information could he have
given on the subiecs What did he know Of the move
mens OF The government more than was know" 10 he
puolc The whole movement OF the governments on TINS
occa.on was 'uch as TO make il the duty oil he BANK 10
consider the proposed OF removing the deroes
as already adopted Yet sir when the Executive has
brought this great calamity upon the community and hnds
the cry Of public distress coming back upon him in tones
Of thunder his Secretary round and says
that did T.: tits the Bank that nonsterihat hearess
tyran, tn, Bank that has done all this without necessity
and in graiic OF purely vndicve feelings. Ii is in
sir for the government TO produce state Of public
ring has done, and then round and attempt
TO make the Bank responsible for injustice and tyranny all
It's own.
MIR. Med. then proceeded TO answer another of the
charges against the Bank viz that OF having made dis
counts by the agency Of an Exchange Committee, con-
ssing oil less than embers lie showed that this
arrangement was as old as the administration OF MIR.
Cheves and that il did not at all conflict with the provi
sion OF the charter which requires members TO con-
stute quorum Of the Board Of Directors. This Board
Mr. Me d. ikeaed to the legislative authority in GO
and the committees which il appoints TO the
Executive Departments for carrying i0to effect the acts Of
the Legislature. IL the appointment and action OF this
Exchange Committee had been authorized by the Board
OF Directors, that was sufficient compliance with the
law. The Board OF Directors lay down the law; they
create the rule, and execute either by the President
Cashier, both by committees appointed Tor the pur
pose. This, he argued was the universal practice in
Banks, and necessarily be The whole Board
OF Directors cannot act in every case The President OF
the United States himself (sad Mr. McD.) would find
himself little incumbcred if we tell him that he
should not perform his duties without cooperation in
body The Constitution OF the United States .escribes
what shall constitute quorum OF each House g. Congress,
aud what shall give the effect oil law dill they shall
pass. But Imagine the Executive OF the United States
would find himself a little incommoded, to say the least OF
it, il the presence Of all the Posse esfafs Congress
necessary enable him to execute iaw after il
passed This idle and refuted CHARGE however, was one
upon which the President of the United States had deemed
necessary and proper to inerpose and the de-
postes when, there had been in reality any substance
in the CHARGE the Charter Of the Bank itself indicated the
only way in which he President proceed in such
IL the Bank had in fact violated charter the
opinion OF the President he might, by looking into the
Charter OF the Bank, have what course he should
have pursued he would have learnt that he himself
should determine that the Bank had violated its charter
for the law gave him such power-No, but that he
might take scire dcias to try the question whether
the Bank had violated its charter This proce edng,
however. was not SO congenia to his purpose the
mary he chose in preference. Why did the Exc
cuvc resort TO the Courts OF the United States redress
if wrong supposed Because Mr. Med. said. he did
not believe that respectable ceud have been found
who would stand up in the Supreme Court against the
Bank on such question as this.
[Mr. Med here entered into vndication Of the
duet oil the Bank, in relation to the payment oil the three
cent debit and the claim Of damages upon the
Of the prote SIZED bill upon the French Government upon
each OF which points he made an argumen, which want OF
time obliges us reluctantly TO omit for this paper
But now, sir come 10 that charge which, presume
has been the governing consideration with the Presiden
tempted to acquire political influence and power That
is the charge. Now for the proof.
The first proof adduced is that the directors OF the bank
passed resolution empowering the President OF the in
slituion TO expeDd the money Of e bank in the publca
lion oil documents of public nature relating its affairs
And this is very grave Charge the opinion of those
who have brought it forward call the attention OF the
House TO the resolution itself. will read it:
"ResofUed, That the President is hereby authorized to
10 be prepared and circulated such documents and
papers as may communicate TO the people information in
regard TO the nature and operations OF the bank"
This sir on the reading OF il, would be very
harmless resolution; but the President regard it
as one OF the most dangerous and formidable resolutions
that ever was passed. in his opinion tits resolution which
gives the President OF the Bank shake the (oun
datons OF public happiness and subvert the ber-
ties of the country What Indifferent spectator would
take be very simple resolution authorizing an officer
oil The bank TO publish certain papers calculated throw
light its affairs, in the eyes OF the President clothes
him with lille less than the whole fiscal and military
power OF this nation. We told by the Presidenthat
under this resolution, he expenditures purporing have
been made under authority of this resolution, during
the years 1881, and 1882, were about $4,000 Fer
portion OF these expenditures vouchers rendered,
FROM which appears that they incurred in the pur-
chase OF some hundred thousand copies OF
reports and speeches. made in Congress; reviews the
veto message, and reviews OF speeches against the bank
&c &C. For another large portion no vouchers what
ever were rendered, but the various paid Oh
the resolution OF the IIih March, 1881" Why sir the
President TO have inuive adherence of trust
Ing any executive authority OF any kind any body but
htmseg. The bank, he thinks, cannot delegate such a
power can the President, Executive officer ex-
ercise it, although he has his constituents close at his
back and they may inspect his doDgs every week. The
resolution is most dangerous. IL will work infinite mis-
chief There is no telling the extent of the evil it may
produce.
Sir, when look back to what have done at the last
session; when look at the powers now, this moment
in the President of the United States cannot but be as
OF nolehill. What the power he holds now at this
time! How much oil the public treasure have YOU
put into his hands, and that in direct with the
military power! Is it twenty millions9 Is it sum
as the whole capital Of this Bank? No IL two thou
sand millions, ii he shall choose take so much he
whole of the country you have placed uncondi
onay in his hands, and this at his special instance
But all That was perfectly fair: danger that Sir
this so strongly reminds OF another Dutch anecdofe
that cannot resist my inclination TO tell il; especially now
that have got in the way OF telling Dutch anecdotes
ike then-they are so very opposite times and the
wisdom OF that nation is strongly apparent in their very
eccenriciiies shall not, sir, give this any ocation
will say that this happened at Kinder hook lest pos
sbly some question mic arse. In certain Dutch vi.
ciDy, lottery had been authorized, the neghbor
hood assembled The day appointed witness the turning
OF the wheel Presently of them drew blank; very
strong dissatisfaction manifested: soon after another
blank drawn, and the discomfort increased AT The
drawing OF third blank, large bully who lived hard by
threatened with his hickory attack upon the wheel
which would inevitably have smashed the whole concern
into atoms, declaring, he oushed his cudgeI that the
whole affair ga piece OF vllanous cheatery" Du.
ring the repidaton occasioDed by formidable an assa
ant and the Tears oil the company for the safety of the
money invested steps friend Of the bully with great
delight IN bis eountenance and said to him. shave you
heard the good Dews' You have drawn the big6es
prize" "What! ha the highest Drize II n.