Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-04

opposed 10 the Bank constitutional grounds Virginia
sets, and Virginia President approved The bill. Nav
not degree OF forbearance, then, be justly expected
stands doubtful righl Sir, it is enough to state
these suggestions, without arguing them at length TO
candid and honorable men, In the place. cir, as
nave sad' there are those who for a bank.
or, gentlemen may well be for new bank, but they
cannot be for tina, and for nothing else they really
taoiishei before 1886. This we ali know. And what
| bank
When the proper time TO make II, if that should
De The general voice OF the country; but idle talk
OF new bank now. Those cannot feel the exgency of
'he momen they did realize pressure of the times
VINO talk OF new bank, and nothing but new bank
Le. mem oring forward project for bank when
e'ermey please but let us, in the time, suffer
present distress Of the country and
Tor the want Of more immediate do not OBJ
Jeet 10 take the question OF bank into consde
any ume either in this Congress the next; but do
object to holding out any hope the country of imme-
date relief from such measure, because know
interests are in danger Of being overwhelmed; we need
some plank something to lay hold on buoy up; aud
keep our heads above water, ill eectual and per.
| manen provision for safety can be made.
will now, sir, state the general substance OF the bill,
| which ask leave 10 introduce.
The first section proposes TO continue the present hank
!or SIX years. but with this provision. viz that much of
he present charter as gives the bank exclusive right
shall not be continued, but that Congress NAV make snv
after 1886. ~ ~
This is the great feature of the BILL 1t continues tho
oank Tor short period, and takes away the exclusive
right Congress is thus left perfect liberty TO make ano
!her bank whenever chooses When the present agi-
faion shall have subsidized, when day Of calm conside
ration comes, and the people have had time for debera
lion then Congress may make permanent provision,
more reasonable than this? Can the bterest enemy of
The present bank refuse give time wind I'D its af
as without distress to the Peoples Can the most ardent
advocate oil new bank refuse, meantime, allow the
country to relieve ITSELF by the Of the present. till
shall be established.
Sir, am not dealing in Probabilities only. l mean to
leave me whole question between this bank and
one fairly open. 1 mean to give neither any man.
ner OF advantage Ii Congress esta biisl new bank il
may easily 20 into operation while the present is easily
retiring from operation and the business OF the country
will feel no violent shock.
mean 10 give the present bank claim 10 a renewal:
but ON the contrary, the only power conferred on il
Germs.
As TO the time, think six years not Too long II we
were now certain that new bank would come into ex-
isence in 1886, think il would be convenient for all
parties That this bank should have six years The
new bank would hardly get into full operation under year
or two and time is absolutely necessary enable this
bank gradually TO collect its debts. fastened collection
must distress the people But years be too
long, will consent to five, to four But my opinion is
that six years is not too long,
The second section provides, that the public moneys
becoming due after the first of JULY shall be deposited i'm
the bank and its branches as heretofore subject however,
at any time after this act shall be accepted removed
by order OF Congress IL Congress shall establish new
bank, they will OF course remove the depostes into it,
100000 dollars for each OF the six years. az com.
Pensaon for the benefits of this continuance its charter
one
should have been willing that fixed per cenage should
have been paid instead OF this bonus. to be divided among
the Staes according TO numbers but others objected to
this, aud have sought to avoid all causes of differ.
ence.
The next section authorizes Congress 10 restrain the
bank from issuing less denomination than twenty
dollars II it shall fit do any time after March
1886 This, too, is borrowed from the bill of 1892 and
its object was fully discussed that occasion That OBJ
ect 49, to got rid OF the circulation OF all under five
dollars and by doing extend the specie basis of our
circulation When the States shall their own banks
tn iasnpn nnnfn lasa IN E,a otIo.
that Congress shall direct the bank of the United States to
issue no notes below twenty dollars The our cur
to hve dollars, the currency will be silver gold and
above FIVE dollars it may be silver and gold and notes of
State banks and above twenty dollars, silver and gold
and notes OF State banks and OF the of the w.
STATES This greater use OF silver and gold, common
purposes and small payments, have thought to be de.
srabie object, as have often before said.
The next section looks to the winding up of the affairs If
The bank, and IT provides that at any time within the last
three years of its continuance its directors NAV divide
among the stockholders any portion Of the capital which
they may have Withdrawn from active operation The
remaining sections are only such formal and neces-
the bank such as those providing for forging notes. and
the other requires the acceptance Of this BILL the bank
in order ogive il validity and effect
Such, Mr. President the provisions of this bill
They few and simple.
l. The bank is to be continued for six wears
q The deposes 10 be restored after the LIST
r. Congress is TO be at perfect liberty create any
new bank, at any time after March, 1886.
The Directors, in order TO wind up their concerns,
may three years before the six years expire begin 10 d.
vide the capital among the stockholders.
Mr.. President, this is the measure which propose
and IL is my settled belief that if we cannot carry this we
can carry nothing.
have thus sir, stated my opinions and discharged nv
duty. see the country labouTng, and strug Cling and
painting under an enormous political evil propose re-.
medy, which, sure, will produce relief il be adopt-
ed, and which seems to most likely to obtain support
And now sir, put ii every member Of Congress how
he can resist this measure unless by proposing another
and better? Who among the agents servants of the
people assembled in these Houses in the pre
sent distressed state oil the country say thai he will Cd.
pose every thing, and propose nothing For one, SIR
only say that have been driven this proposition
by an irresistible impulse oduiy. II had been suddenly
called to my great reckoning in another world, should
have iet that duty left uninterrupted IL had had
no measure to recommend no expeden to propose, no
hope TO hold out to this seffering community.
As TO the Of this BILL sir or any other have opv
10 repeat what have often ssid that hing rests
with the People Themselves. In the distracted slate of
the public councils, any measure OF relief only
obtained by the decisive demand Of the public will
BY an exercise OF Executive power, which believe To
be illegal, and which all must have been niuf u.s.
by unrelentiDg adherence TO the measure which has
thus been adopted, in spite OF all and by
the force OF those motives which influence men 10 support
the measure, though they entirely dsppIove The coun
try is brought 10 condition such before wit
messed, and which 1t cannot long bear But il is not
condition for despair Nothing will ruin the country IL
the People themselves will undertake its safety and
thing save 1t, If they leave that safety any lands
but their own.
Would 10 Cod sir that could draw around all these
twelve millions OF peoples wonld God, that could speak
sudby every eIector in the whole land.
would not soy lbem ysDly and arrogany, that their
safety and happiness required The adoption Of any