Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-10-14

expenditure OF the alinisiraon ior oil oh,rt exccpt
the army; there ny at Tat time no navy. The adni
nsraiioc Of the Bank therefore, Aelu lily involves an
pendi,ure ysing that of the Federal Cox ernns nj u o.
9s, 81 Mud 80; emitting the single item Of the army
which was then on WAL establishments The text rem
OF Bank tax " that of the profits. in the shape Of annual
dividends. These profits now Z per cent; bu, have
been less, and at time, owing an explosion pro-
dnced by stock jobbers, were nothing Assuming .ix per
cont Tor the oil twenty years aud the 40
WI DC 900 600 dollars la the third place. contin-
gent fund.- reserved TO losses, is rear 600 600
iciars Fourthiy the real estate, including banking
houses, Is above 100000 dollars. Filthy, bonus
reimbursed to the Bank is 5OO, 600 dollars Sixhiv
tie interest the public deposi,es which the BAIk
was recsnng from the Uuite States or iu. vdua lille
Tue United States was paying ioteres, the same amount
10 Tie Dsnk or 10 others, millions dollars on The
standing 'crosi' OF about five millions. The aggregate
sixty six millions of dollars, say nothing OF the proj,
on the stock itself which is now twen,y.six per cent,
equal 10 S9OooO00 addition TO the original capital The
annual average OF this aggregate levy xy-sx millions
a"vve three millions AMI quarter OF dollars being very
ne'iy ~ much a. The whole expenditure the Federal
Government in the second year OF Mir JsrrERsoNs adj
ninsta'in, whch but IS, 1877 00O the srr,y ncuJ
cd and the navy also, which had then sp une into exist
ence VIII Senator'S reflect upon the latveness of his e
w, and consider how much I, adds 10 his muI,ii-d br
iens Of complicated system OF taxation? saw com
pne'eui Tor, under orr duplicate form u Government
every clzen is many times taxed and y various aubo
ues. fits his ate tax; then lis county tax; then his
corporation iaS. CT he vesin c,) then his federal tax.
"nd since 1916, his Bank The amount of each i,
considerable; OF the whole, is cxce.sve Of the sank
tax, IN addition TO the others. in'olerablc The di.
rect Tax OF 1898, which Contributed 80 much 10 the
overthrow OF the men then at the head OF Affairs
wac an incousdersble burheu compared to This Bsnk
levy Not so much million vcr paid in anv
one year under the direct taxi While the annual levy Of
he Bank tax IS three millions and quarter The one ia
as truly tax the other aud az certainly mil hv m.
reopic and as the reduction now the polev nj
Tue country, present this contribution 10 the Federal
oihk as mo ut and eminent item head aud grace the
'is' Of abolition say, to hesd and grace tue liz Forit
ha lax not only great in i,seli, levied 10 support
most dangerous aud invdious institution but outv and
!, oppressive upon 'he People, because no part Of
refunded TO them in the shape Of bene6ccnt ex
penIiure In The Of every other tsx in All The con
ouons IeVled Tor the purpose OF Government there is
some siievauon OF tho LuI,heusome rce,ution OF the
abducted lreasue-soue the People-so,pe ro
INFUSION oil strength into their rankin the cusor,rx
reimbursement, OF the revenue The Government usual
~ pays II back, portion Of it, for salaries ser
vices, and supplies. But. in the case of the Bank
| TAX, thete Is nothing OF this Reinforcement The
o"uK refunds noihrgi but ell the money il makes
O"s .. zoe People Is gone from them forever 1t
goes into corner Of the Union, remains there II oes
in'o private hands and becomes Individual property Tbe
AnSloeis uvide among themselves Twice, in every
year. they make the division Of these modern stoiia oni
"a,-ihese deorest spols,-not OF the eneny's general
~ os'ue Out OF American citizens 1eeced al home
nus Is grieVons sggrava'on OF the amount of The tax
~ Is Tue aggravAicn which renders alton
IL Is "obsenceisia" in aud iegslzed form I, ia
The whole mischief of that system of abseneesJD which
drains oil the wealth of Ireland TO ferlize Enel,nJ
france and iay leaving Ireland itself tie distress
eu ana exhausted country in Europe instead OF remain
ing as God created it, Of the richest and most flourish
ing tetna' drawing out and 10 bringing back IL a pro-
cess winch no people, country endure Il is
"nen would exhaust the resources OF Nature herself The
earth would be deprived Of its moisture and
oesei u me exhsaons OF the day did return in dews
al night The vast itse with all IFS deem and
bonndess waters, would he sucked up and dried ava If
he V'pors drawn up by the did form into clouds
ahd desceud IN rain and So will any peoI e be
hsustd oil their wealth. matter how great tia, wealth
may be, whose miserable destiny shall subject tbsm IN
system OF taxation which is forever evyng. and never
'e"uns system whose cry is tha, OF the horse-leech
more mote! mors! whose voice is that OF the crave
g'e gve gIve-whose attribute is. that Of The grave
"''o never 10 render backsnd SUCH precisely i the
system OF taxation which The PEOPLE of these S,sas ~
now subjected by the Feders Bank
vi The three great divisions Mr. President into which
ms qne.uNn divides iise, Rave touched but one |
nave le untouched the constitutional dgicuy and the
ioIner nsmansgemeni of the Bank. have handlehthe
qneson as 81 the constitutional authority tor the Rauk
Was express, and as il its WLolc lad heo
Tree nom repfoach have locked to the Narupr Of
the INSTITUTION alone and finding i'm is verv n.,,s
lnsn'mounabe ojecons TO its existence have come 10
the conclusion that The public geo requires the institution
70 Cease believe TO be an institution too much
Po"rf az tendencies too dangcrous-of privileges too
od'ou'oi eXpense too nousio be safely tolerated
under any government OF free and equal laws Nv mind
Is made up, tina, the char er oue, TO be allowed
Expire Oh i't own Limitation; and thu, o,er, sub
sequen. one should ever after be granted The i. ,o,,
1Tno'; NAY add my belief; for have the consolation,
70 believe iiA' The event viii not deceive my homes
ain wiling TO see the charter expire without provi
ding any substitute Tor the present Bank am willing 70
see The currency OF the Federal Government lea 20 Tho
hand money mentioned and intended in the Cons,i,u on
am wiling 10 hive hard money Government as that
Of f. auce has been since the time OF the cssiDnoI, @
W"nudtS Every species oil paper might be IeI TO the
Slate authorities, Hnrecogrised ny the Fede.i Gove,n
men, az d only touched by il for lis own convenience
flpt
France with The precious metals hen EnglanG With her
oyegrown B'nk, prey ELI tie evils OF nnco,vsr
ub'e paper IL furnished money enough & r ,e Imnsr,,I
government, when the population OF the Empire yyas
'"ee ule' more numerous and The expenses OF the Go.
veinn'nt 'weivr times greater Gsn the popul,iion and
expenses OF The Uni STATES. and hen Frame os.essed
10 mines oil gold aud silver, aud WAS destitute Of
Uic exports which command tic srrcie of OH
countries The United States posscs gold u;os no,y
yielding hall million per aunum With etetv pros
pect oil eqna'ng those Of Peru. But This is not the
best Dependence. We have what yuperior 10 ,,in.
haheiy he exports which insnd the money Of the
World that u TO say, tie food which stains lie and to
raw materials which sustain manuiacurcs Gold and eil
yer Is lhe best cufrehcy for Republic; il suits the men
81 middle properly End the working People best AMI If
Was going TO establish. working mans nufy II ,louIJ m
on the bass Of bard money hard money rartv ag,1n
paper party. ' e
would prefer 10 see The charter expire vt,out srv
SUBSTITUTES nut am willing for the substitute re-
commended by The President stripped il il Of al power
70 make ions aud discounts. Dycs,ed Of tina, row If
loses he esseni feature aud had well lose the name
OF BANK. becomes Office iD tic Treasury limited
10 Tie Issue 81 species OF Excbsquer Bills dGnfi,g
from Tie EnglislbiIis Of hii natnf in The vital psIci
on prompt and universal converGbilty into coin Such
bIis would be 10 FACT, well a. n name the ntoois
soy noes OF The nj ed States Of Amsfics The o,ld
oe payable at every Isnd olfce custom house ana no
once anu by every collector Of public none ", in tho
Union Payable every where they would be AZ bar evs,
where Equal 10 gold and silver the spot lev vou,
be superior =. IL lpr travelling aud remittauces TLis j.
not opinion, bai history. Our on country uis Fsd,s
government, has PfovediG and that scale ,uncieutiv
iRe 10 test rs operation, aud recent enoueh 10 be re-
memoeej by ovsry citizen. alude TO the hiiseiyspb
aeiP 'ssVed NON ihe Treasury fifteen ycsrs
ms scrip Was 40 why equal TO The proposed Excleousr
u'i ior !. reception MS limited sngle bsncb oi
I - EHHr -.