Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-14

bank. with capital Of thirty Ave millions Of dollars, and
upwards Of ten millions Of specie hand has been put
aside, and bank with capital Of half million, aud
little than thousand dollars specie, hand
has been substituted in its place. How that half million
has been raised; whether in part, in the whole, by
the neutrazing operation OF giving stock notes In ex-
change for certificates Of stock, does not appear.
The design Of the whole scheme Of this Treasury ar
seems TO have been, TO have united, In
common league. q number Of local banks, dispersed
throughout the Unon and subject to central WILL with
right OF scrutiny instituted by the agents of that will
1t is bad Imitation Of the New York project Of safety
fund. This confederation Of banks will probably be
bned in sympathy as well as interest," and will be always
ready to fly TO the succour Of the Of their nouris
mcnt AS to their supplying currency, in place
OF that OF the Bank Of the United States, the plan is to-
tally destitute OF the essential requisite They are not
required to credit each others paper, unless it be issued
in the "immediafe cicinify."
We have what is in this contract. Now let us see
what Is not there. Ii contains stipulation for the pre-
serva,on OF the public morals; for the freedom Of
elections for the purity Of the All these great
interests alter all been said against the Bank Of
the United States, left 10 shift aud take Of them.
selves as they We have already the President
OF Bank in neighborng city, rush ng mretuou.y to
the defence oil the Secretary OF the Treasury against
editorial article in newspaper although the Of
the shaft not quite equal to the vgor OF the bow"
Was he rebuked by the Secretary Of the Treasury Was
the Bank discharged from the public service Or,
morals the press and elections, in danger OF conami
nation, when host Of banks become literary champions
the side OF power and the officers Of Government the
patriotism Of the Secretary only alarmed when the nfal-
lbility Of high authority is questioned? Will the States
silently acquiesce and the Federal authority insnua
exclusive control?
We have. MIR. President, most wonderful Fipsncicr
at the head OF our Treasury Department. He sits quietly
by in the binet and witnesses contest between his
colleague and the President Sees the conflict in the
mind OF that colleague between his personal attachment
to the President, on the hand and his solemn duty
TO the public the other Bsholds the triumph Of
sciencious obligation Contemplaes the noble spectacle
ose w all r.. an
beray the interests Of the people. Witnesses the in
suling and contemptuous expulsion of that colleague
he COOl v nfaPs tbs acafeh uar
without the slightest sympathy the smallest emotion
He was installed on the Esd Of September and by the
10Th, the brief period Of three days. he discovers that
the Government Of the United States had been wrong
from its orgin that every Of his predec from
Hamilton down. including Gallan, (who whatever said
oil him on former OCCASION and that do not mean to
tract, possessed more practical knowledge OF currency,
banks and finance, than any man have met in the
public councis Dallas, and Crawford had been
about both the cxpediency and constuiionay Of the
Bank that every Chief Magistrate, prior him whose
patronage he enjoyed had been wrong; that Congress,
the Supreme Court of the United States and the people
OF the United States during the thirty years that
they had acquiesced in recognized the utility Of Bank,
were all wrong And opposing his single opinion to their
united judgments, he dismsses the Bank scatters the
public money and undertakes to regulate and purify the
public MORALS the public press, and popular elections!
IL we examine the operations OF this modern Turgo in
their financial bearing merely we shall nd still less for
appreciation.
| !. He wihdraws the public moneys, where by hi.
deliberate admission, they perfectly safe with
Bank Of thrty.fv millions Of capital, and ten millions
OF SPECIE and he places them, great hazard with Banks
|
which the Metropolis Bank is example.
q He wihdraws them from Bank created by, and
over which the Federal Government had ample control
and puts them in other Banks, created by different Go.
vernments and which it has control
3. He withdraws them from Bank in which the Anne.
rican people, stockhoder drawing their fair
proportion OF interest accruing loans, Of which those
deposies formed the basis and puts them where Peo-
| pie OF the United States draw no interest
4. From Bank which has paid bonus of a million
and half, which the people of the United States may
be now liable to refund, and puts them in Banks which
have paid TO the American people no bonus.
Deprecia,es the value of the Stock in Bank, where
the General Government holds millions, and
ces that OF Banks IN whose stock it does not hold dollar
and whose aggregate capital does probably much
coed that very seven millions And, finally,
g. He dsmisses Bank whose paper circulates in the
greatest credit, throughout the Union and in Foreign
countries and engages in the public service Banks
paper has but limited aud local circulation in their
mediate vicinities."
These immediate and inevitable results. How
much that large and long standing item Of unavailable
funds annually reported Congress, will be sweed
| extended, remains TO be developed by time.
And now Mr. President, what, under all these circum-
Stances is it duty do? Is there Senator who can
hesitate TO AFFIRM In the language OF the resolutions, that
US 81 Inc lifted States NOT granted 10 him nv the
Constitution and the Laws; and that the assigned
for the act by the Secretary Of the Treasury are Insult
| hcient and unsatisfactory?
| The eyes and the hopes Of the American people are
anxiously turned to Congress They feel that they
been deceived and insuIted; their confidence abused
their interests berayed and their liberties in danger
ihey see rapid and alarming concentration OF all power
in one mans hands. They that by the exercise of
the positive authority of the Executive and his
power exerted Congress, the will one man alone
PREVAILS and governs the Republic. The question is no
longer what laws will Congress pass but what will the
Executive not veto' The President and not Congress
is addressed for Legislative action. We have seen Cor.
poraion, charged with the execution of great National
work, dismiss experienced faithful jealous Pres
dent, afterwards testify to his ability by voluntary reso-
luton, and reward his extraordinary services by
gratuy, and appoint in his place Executive fayore
totally inexperienced and incompetent, propiate the
President. We behold the usual incidents OF approaching
tyranny The land is filled with spies and inormers
and deacon and denunciaion the orders OF the day
People, especially official incumbents in this place no
longer dare speak in the fearless of manly eemen
but in the cautious whispers Of trembling slaves The
premonitory symptoms Of Desposm upon us; and If
Congress do not apply instantaneous effective re.
medy the fatal collapse will on and we shall
ieignoby die base and AFFECT sIavesthe scorn
ard contempt oil maDkind-unptied, unwep unmournedi
1.-THE conclusion Of the Speech followed by repeat
ed and loud applause in the galleries. had been often
interrupted before]
| URELLEFONTE FOR SALE.-The subscriber offers
I'D for sale the above valuable establishment lying i'm
mediaely on Cocks in the county of about
thirty five miles from Petersburg. This place is situated