Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-06-13

<x NE<rrxu
tile operations derangedreai property greatly deprccat-
EDITS rents or profits rapidly declining price OF
rystaple article reduced-housandso Of abe bodied men
waheing about the streets larger Gin, o. unable 10
NOD en- ploymenihs dismal picture from Jour
mails oil the day. exhi, its OF the early suits which fol-
lowed the establishment OF the p essen, Bauk Yet ain
disposed TO coucede all the advantages claimed for it, and
tue greatest Of slNs capacity furnish uniform
and perhaps safer currency ihsn The local banks Sill
tins Is no counterpoise TO my objections. the
OF expedieDcy. For one. would rather submit 10 the
partial evils OF an unequal currency, than be exposed 10
hr tremendous Influence OF moneyed corporation, capa-
bic al any momen from it's cuiiar organization aud ma
chnery, oil raising depressing OF every par
hcIe OF property in the country. would rather incur
small loss IN The shape OF exchange than that the price of
every thing have buy SELL shall be subject tho
eapne'ous edic OF secret, irresponsible dvan in Cbes
nut street or elsewhere, at time granting extensive
loans aud accommodations; al another by its merces,
c"nirattions, crushing trade dnsry, enterprise
engaged IN discounts and exchangeshe mex devo;ing
ais patriotic a,oEs to politics and the press
10 what extent the removal OF The may bsve
operated the cause OF tLe great aid general
pressure aud rapid depreciation OF Ger tain sspes of
which tie nemoialisis complain unabe deter
mine IL canuot be ssid however, ,het The reduction of
discounts b. the Bank has been governed by amount
Of public depostcs taken from its ut.or find
when It's curtalnien's commenced, IN, first August
last two monihs before the depo-ites) the
amoun' depo-ie ,59s sl the 81 ID cem-
her II was So l62 259 making reduction Of So Is7 $50;
on 'he INST OF August its discounts ed SGil60,
3i9 on the first OF December h,, ~-re S5f453 IO4-
showing very largo disp opor t~ee. he terue-
lion Of discounts, and The DIM e depo i-s How
far the operation Of The United Bank conbu,e,,
10 the state OF thing, which l, he over.,,a,ug aud
excessive imporla iois Of 1881, n.4y re4diI, con-
ccve, when The statements, in Oeos., 1899 sho,y
total Of discounts and bills OF exchange o Ss9.-
96O,C52; aud in May 1882, total 10 42s O70 In
the short pe'iol OF Two years rpd months there
was INCREASE OF $50 ,66s Ols in the accommodations
the Bank afforded 10 Dealers" Under what ci,cumsan
ccs political or otherwise this of
loans was made, does not fall within Tie scope of these
desuofy remarks to inquire. They part Of the his
tory oil the times, and had pleased Preside mt aud his
associates 10 allow an examination Into the more recent
operations and present condition of the institution the de-
tails thus eciled-wth this increase OF scili ies-inisbi
have furnished together mass OF Interesting inormalon
financial and Other, calculated TO clear up eny poins
at present not a liuie controverted.
did not inend cir, 10 have mespasse 20 FAR upon the
INDULGENCE OF the House. What have said merely in
defence ofmy conduct. Ii is painful TO me 10 oppose
the wishes oil any portion OF my constituents IL the vote
which have given upon the depo,te question: is not ul-
.ms'sy sustained by majority Of the dis rct, the
cUniided 10 pass into other hands have endea
vored 10 execute il in good faith; and feel that NV
whole course in relation 10 the United States Bank and
the deposiies has been governed by rigid and scru-
pulous regard TO the just demands OF popular sentiment
There is one thing in which entirely agree with the
a'iSts-tal Is, as 10 the importance OF present
crisis Indeed, question much whether has ever
before happened period more directly involving the ate of
popular righs-so pregnan, with consequences deeply
men' And what has produced this portentous state of
thing! Was the simple OF Transferring the depo.ites
OF The money OF The United States this Bank 10 other
places oil safe keeping, whether done by President
hmse or by the Secretary of the Treasury? l. il that
This corporation has been wanlouy stripped, as is al
legged, OF Of her chartered immunit,e- by the ru,b
less hard of Executive usurpaon? THAI the oubIic
faith has been tramped upon by power hat scknoy-
lodges law but the dictates OF its own rash unbrded
will! would not venture Affirm that very MANY in
ls body and elsewhere, do not honest eniera That
opinion But of This am perfectly confident as can
be OF any thing, that within less fweIve months from
this day, nine enhs oil the people OF the United States
will laugh 10 idea in utterly prc,os-
ferrous Sir the omioous spssuatons CERTAIN class of
political sooihsayers are destined TO wofu
men The gloom, snd distress and panic pass away
as The ncanlafions OF the enchsn'er cease, and the
country VIII rise from the pressnref not with increased
wealth. he wiser and better and with renewed energy 10
Withstand future trials The indie OF the peope
oil Tie United States Is not TO broken dow their spirits
are not TO be snhducd by the formidable discipline
the disastrous energies oil overshadowinp colossal
noneyed power Ii cannot be. that the events OF
the last hive months, and especially the scenes enacted
here VIII escape the jealous vigilance the People
They cannot fail 10 perceive tat The just reslsiion
brought upon this Bank by its gross misconduct, has
been met by istance calculated rouse the Sc ions
alarms OF every man no would epel the
oil corporate despoIism that threatens overthrow eve.
ry principle oi ile Constitution; and, in the language of
one who would seem TO be touched with almost prophetic
inspiration, 81 convey liberties Sepulchre OF
/ (soid'