Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-08-12

latin he'd done in 1911 lie .nirned h what now
done rra ion the revenue, had previously been
done 1911; that MIR Galain had made
fer of the public monies ton the Bank OF the United
States 10 the local banks which Mr. fancy did, and upon
the contingency, 10 ,oit be asr-tsned
that charter would n,' he granted TO the National
Bank; that he entered into the arrangements with
them that Mr. fancy did; signing written contracts 10
keep The public monies saely pay the Treasury drafts
in specie IL required by the hoie; give the
ry facilities for Transferring the public mnnies aud to
make the periodical return OF their affairs Which
cessary enable the Treasury understand their coni
ton; Ia word that he created The same league of banks
in some instances composed Of the same identical banks,
which MIR. fancy has created, aud which il consi-
dered by being more unconstitutional hsn
constitutional bank would be; that he made the same sell
Zure OF the public monies which President Jackson has
made; effected the same poenous union OF the purse
and the sword; and that person looked upon these
things at that tune, the robbery Of the Treasury,the
exercise OF uDgraDtrd power the Treasury.-the
OF pow er the hands Of one man; not
the OF the old Federal pariy say no hing
at others, here leading the assault upon
Jackson and Mr. Taoey then in the House of Reprcscn.
tatves, acting in harmony with President NJ iiison and
Mr. Gaain, aud who can say, OF all iheir acs quGque
ipse rdi; all OF which saw; il not, ct quorum pans
magma FIJI; great part of which was.
Mr. Il. deemed this part OF his material and
necessary TO be placed beyond the reach Of cav
tradicton that lie should drop the narrative aud have
course TO proof lie would quote the reportat least
much OF IL as necessary 10 establish his OF
Mr. Gaa,n, then Secretary OF the Treasury, made to
the House oil Representatives in obedience TO call from
that body in the month OF January 1872 nea iy year
after the removal OF the public deposte the Bank
the United States, and hs establishment OF that league
OF Banks, formidable to liberty, fatal the Con
siin,ion; then so innocent aud so harmless
Extracts from Mr.. Gaiiatins Report, Jan. 8, 1872
AS it had been ascertaned that the charter OF
the Bank OF the United States tcoud not be reneped
Philadelphia Baltimore, Norfolk Charleston and New
orleans, directing them to depose house
bonds Tor collection in the Bank of The United States
ITS branches; TO Withdraw those bonds falling due after The
vi oil March, ISL aud depose the bonds i'm
one or State Banks which were according TO The in
option OF the collector
There follows list of the selected deposie Banks TWEEN
ty-iour in number, extending from Boston to New Orleans
from The Atlantic to the Mississippi, aud Including
since selected by MIR. Taney.l
The following are the conditions OF the contracts made
with the deposc Banks. thus selected
l. "The Bank TO receive such sums may be offered
by Individuals who have payments Into the Trea-
sury AMI TO pass the the credit vi Treasurer
OF the United States.
e. The payments by the Bank to be made on treasury
war, navy warrants. dec ell to the Bunk bv the Tres
surer, in drafts drawn by him. The nav MT ia o
course, awsys to be made in specie il required by The
holder OF the II draft
B. "On Monday OF each week COPY OF the Treasurers
account with the Bank Tor the eek is TO be sent
TO the Secretary OF the Treasury; and If the Treasurer
account, in that way, than keep bank book the Bank
VIII also furnish him with similar copy
a. AT the end OF every month, stateme nj of the su-
a'on OF The BANK made out agreeaby 10 the annexed
form, 20 be sent 10 the Secretary OF the Treasury.
5. "The dividends The public debt will be made
through the medium Of the b ink OF Columbia &C.
o. That persons having house bonds 10 nav a,
The depasite Bank will be accommodated preference to
ohers IN d'scouning Tor them, necessary promote
puncluA collection OF the revenue the usual
for the safety Of the Bank, and decision on The sui
hciency OF the paper heing reserved for the exclusive
judgment OF the Bank"
Having read these extracts, Mr. b said the things done
by Mr. Gallatin identical in eve of the law and
the Constitution with what had been done by Nj fancy
They acted upon The contingency 10 tpif. when
1t asceI tanned that the o. s. Bank would moi he rc
Chartered. They acted in the same way entering into
arrangements and with The State Bsnks to act as
the fiscal agents OF the Treasury They both re ported TO
Congress- hut how differently their re ports eceiy
ed That OF Mr. Gallan without word OF cens,,re with
foil apProbdiion aud his league Banks suhseoit nlly
increased TO hundred in iulI vigor Tor SIX
years ana mat without any law TO regulate then. The
beautiful aud classic phrase 'pef Bdnks was uot hen
invented MT aneys Report On the contrary, lis received
III aempest oil Glamour 'hd intgnadon No language
we're enough TO characterize his conduct no epthes obi
Gus enough to stgmatize his peis punishment great
enough 10 atone for his onre. And who is raises
this against Mr.. Taney The same gentlemen that
sat in the I2th, l3h and 4h Congresses aud who saw
nothing to censure fear, then, in what fills them
with fear and horror
MIR b. said vain artemrt any distinction be-
tween the cases. There was no distinction buI m Inc
times The men, and The mpellng power. TempOrG n,u-
fdntUr ct nos RlutdmuT ia Ills. Times have CHANGED
and men have altered; aud The second Bank the nited
States displaying an audsci;y which the first one would
have crinsoned with shame, openly maDds the i'm.
Peachmen of the President, the re ction of MI Ia
ney, Tor having done now what done formerly No
constitutional Jierence can be taken between the
The 10Th section makes difference; for in the
hFs' place Congress could not it would, away
we keeping OF me pGOhc moneys; and, in the second
place, the power OF tie Secretary direct the removal
eat sny time is absolute and unconditional
Bur, MIR. B said, he had yet doue reading ON MIR
GdaVn s Report TO Congress in 1872 lie had another
extract 10 read that would be refreshing TO ali the
republicans OF The old Je1esonan school, and who recol
Iect that IN his Cabinet opinion President ashin
Ia opposition 10 the charter OF the first Bank Of the Ulited
STATES lie said there necessity national bank
as the fiscal ag ut OF the Treasury that lie State Banks
would enter Into arTangem do all the fiscal business
OF the Treasury; would 90 ell and on better rms
than National Bank, created by The Government aud
having privileges granted and clams secured upon IL,
Now hear what Mr. Gailain. says after his experiment
oil IL months, with the league Of despoiic banks:
"No dDcuHy has been experienced in The transmits
sion Of public moneys and, Oh the exception nj Nor
folk and Savannah, The TeUeHue has been geneTaLy as
toeH cotecfed as heretofore"
No dlUcufy in ne Transmission of public nroneus
exclaimed Mr. B. as toeH collected as heretofore -
Wha, testimony in favor OF The Con-iituon How con-
elusive that Jefferson rights and that National Bank
oil any KIND, or IN aIy place. not necessary TO the fiscal
action oil tie Federal Government UuIappily il dill no,
occur TO TIE Statesmen Of 1912 restore the gold cur.
Tency,t TO invite the importation OF foreign coins and 10
suppress the circulation of spa That .yise and
mastery conception was reserved Tor The admin alton
OF the Military CheliaiD and il rpcns into law will
per system, and from 81 losses which the Federal
Government incurred, fifteen years ago when il lost
~ Hon aud hall by the explosion oil The Local Banks
atd ABOUT eleven millions in preserving the present
Bank OF Tie u. States from the same fate.
Having shown the ilegality Of the Senafe's conduct
Mr. Is would next expose the extreme and peculiar in.
justice OF H. Every part Of the PRorEsr was subjected
10 The rack and torture Of aud
taicn Studied, far fe cled, lowyerke unnaiufaI fore
ed, strained, interpretations, accumulated upon its
every clause and every phrase. Tragic and theatrical
calls were made for the advisers aud writer's of such
paper; as some sacege, treason, had been commit