Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-06-06
Twenty-third Congrcss.--Ist sess.
REPORT OF THE MINORITY OF rAn COMMITTEES.

J.
u VIII be observed that, up TO this ,ime nothing had
been arranged TO the mode conducting the Dspecton
ney9nu The single point, settled ty the aequescrnce OF
The Committee oi the House of REPRESENTATIVES, thai The
DOCKS should be submitted in person by the Committee OF
me directors No objects OF inquiry had been ed
ny The Committee OF Invesg alton further than hev an
pear in the resolution of the House under which The
Committee raised and in til. calls made Tor iniorma
uo as 70 great amount aud variety OF matters as ap
pears nom the resolutions in the Appendix The
pondence which had taken place betx cen the committees
hsu been confined almost exclusively the single ground
oil me course deemed proper be pursued BY the com
ee 10 obtain possession If the books oil The Bank.
on the arrival OF the Committee the banking house
on me Hh oil May, call made the Committee OF
Tue noard' !" pursuance oil the following resolution:
Resoired. That the Committee will proceed to examine
into the nth OF the made bv The overnment
Directors 10 the President the United States and IN
Congress aud Tor that purpose will this day call for The
production for inspection. OF the minute books containing
me proceedings oil the Directors OF the Bank aud the ex.
pense books and vouchers for expenses Incurred.
AS preliminary TO reply to this demand, the following
paper was read by the Chairman Of the Committee the
Board
May 2, 1884.
Whereas il appears, fom The resolution OF the House
OF representatives oil the United States appointing the
Committee OF Investigation that two distinct injuries
were contemplated, OF them directed To asceyiain
whether the charter had been violated and limited 10 The
acts OF The corporations; the other so very general and
Indefinite, as TO make il difficult, if not impossible TO saw
whether II has any limits at all, either TO The matters to
be inquired iDio The mode pursuing the inquiry: and
whereas appears, from calls made by the Committee OF
investigations that they have proposed a very vide range
e"o1chS, among DINER things, extensive
" 'e aets transactions, accounts and letters Of ndvidu
ais ana thus instutihg kind Of general earch which
Is me more objectionable because, il ii have any pur-
pose al oil, must be 10 crimina,e those individuals
as well as the Bank, aud If il have not this pur-
pose II is without assignable object, would be
injurious invasion of priv ate inter and who re-.
as, under these circumstances il is the duty OF the Com
miitee, by all lawful means proie the rights and
cred confidence entrusted to their and 10 Weld
nothing by consent which cannot be legally demanded
from them; and whereas, alter careful and cons
"ey are o, opinion that the inquiry only be
nghliuy extended TO alleged violations Of the charter
and this inquiry ought TO be conducted according 10 some
certain principles and rules: therefore,
Hes0iDtd, That the Committee of investigation be re.
sPecuiy required when they ask Tor books and PAPERS
10 stale specifically, in wiling, the purposes for which
ey are proposed TO be Inspected and il be TO establish
violation OF The charter, then state specifcaly in
writing, what are the alleged supposed violations of |
charter to which the evidence is alleged supposed to
be applicable.
ResOirtd. That, in the opinion of this committee il
would very much conduce the purposes OF Justice as
wen as to the convenience OF all concerned the Commit
lee oil Investigation would furnish specification OF all
Tue charges intended TO be inquired into, and proceed with
them IN order as slated.
The undersigned opposed The call above recited made
on me "h May Tor the production OF books They feel
themselves. therefore. called upon explain briefly the
considerations which influenced them. The undersigned
have already stated that they conceived the committee of
which they have the honor to be members 10 be clothed
win at wo-iod power aud 10 be or rather re-
CURED, by the order OF the House 10 act in two. fold
p'city Ihey were committee oil visitation appointed
under lie 23d section Of the charter suck bey were
authorized TO visit The Bank inspect the books and to
whether the charter had been violated. They were also
committee oil inquiry Into the Of the prese COM
erciai embarrassment and pecunsry distress, and into
Tue co'ruPhons abuses and naipraciices OF the Bank
IN the former capacity, they had right TO inspect the
books oil The Bank They had this igh, by the charter
ard would not have had IL without the charter In the
latter capacity they had right inspect the books I'M
less voluntarily submitted by the Bank. because The char
ter does not give them that right for such u,rposes Th
Bank is Obliged by the Charter submit its books TO the
Inspection OF committee OF vi.itaion, authorized to re-
port The chdrtrr has been volaed and it bound
10 submit them 10 committee OF general inquest auho
rzed 10 report OH NAL practices and CORFU pions The
right oil inspection possessed by the committee as com
iiee oil visaion cannot be used by its other capac
~ OF committee OF general inquest and accuse ion as
an ins runent OF search after in
general.
But tile Directors Of the Bank had been apprized. At
The outset, by the Resolution of the House OF Repre-
seDsiives OF tie 4h OF April HAT The committee was of
twoiold character, stated. That resolution dis,inrv
as objects OF inquiry only violations Of
the charter, Tor which tue books mg be nspecteJ
various acts oil mlsnanagemen and corruption, for which
they might Dot be inspected, unless voluntarily offered
Tor That purpose. The Committee OF nvesls alton had
addressed various calls, by way Of resolution 10 The Com
mltee OF me Directors touching matters concerning |
which me charer does not require the Bank submit
It's books for insPeciOn The call OF the 7h of Nav on
the last visit 10 the banking house, is Tor certain OF The
books Of the Bank, enable the COMMITTEES ss,o Eva
mine into the truth OF the statement made bv the Cavern
ment Directors 10 the President Of the IT, s. and TO Con-
gress That statement embraces matters hich neither
are, nor arc alleged TO be, violations the charter and
consequently IN reference 10 which the Directors are not
requiI ed 10 submit their books Tor inspection.
hhu P'easeu Uhc rouse oil representatives, TO create
Two committees Que OF visitation, under The twenty third
section oil the charters aud OF general inquiry under
The oil the House send Tor persons and paoess
these two committees would not have been authorised TO
gamsie interchange each others functions The
committee OF charter vsatt would not have been au
horzeh engage general lnquisilion nor would the
committee Enquiry have been authorized TO demand the
books Tor inspec non.
But 10 what avail has The charter limited the objects
Tor hirh the books may be Inspected and protected the
COZ poation; and those who transact business with it, from
The annoyance and miscieis OF general search, If
committee OF visitation may be tlohed with the functions
oil committee OF general inquiry; and, having got the
books into their hands for purpO authorized by the
law, may use them for smother purpose authorized by
law IL Is plain thai II this could be done, limitation
OF the right OF Inspection would be illusory worth
less la order TO render ile limitation efficient the Com
ittee OF Directors required OF the onittee Of Inyes
igaioD 10 specify the objects for VIII ci they demanded
tie books For sone objects, the demand OF the books
was according TO w for other Objects being bound
by law TO yield them, the Directors we're at liberty TO
wihhclh them, or 10 submit them, according teir dis.
creton They, therefore, needed specifications to en
bic them 10 discharge tieir duty under the charter
well as 10 protect ihcm IN their rights enable them TO
Distinguish IN the reVuis ions Of the Committee nves
hga0n how much was aOilofifs i've under the statute
commanding obedience; aud how much, MOI benr su |
ihonstive, they at liberty 70 ooncede or 10 with.
hold.
There WIS the in l. ssiins Tile fieh TO
make Tie lima ION On Tie inspeco Of eir books await
abe, because, hos heretofore been Observed the in
sPecon Hse s 10 defOgati0n OF The natural tights Of the
citizen who ought not, under any cncnnssnces 10 be
Obliged 70 cfniuaie himself o. pleased The Legislature
regarding the corporation their legal creation 10
require tbem when accused OF violating Tho fundamental
laws OF To ir existencethe provisions Of the char,er
10 submit their books comm ttev aufhoz Il report
on Tat fact acne. But 10 transfer this limited right Of
inspection 10 Oler committees for general powers Of in
Of