Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-07-22
POLITICAL.
LAST BANK OUTRAGE.

nofs alluded 10 IN our paper OF Monday last, are well
founded The Bsuk OF the United States taking the law
into lis own hands, has seized portion OF the dividends
on The Government stock, the pre- ended
claimed by tho Fl, nch BILL stated i'm heir accounts
reported TO Congress TO be S15S SI2 771his act has
Pa'a'e Tor audacly except the direct depredstious
sometimes committed OH the treasures Of nations through
fraud violence.
la the first place. there 10 equity in this claim The
Bank has never incurred the damages claimed nor any
part OF 'hen The onk agreed give Tor the bill
OH the rfeuch government as appears by the port
their Directors published in December last, 5000 500 SO
But The price Of The bill was never paid. Not a dollar
erer came into The public Treasury on account of that
purchase IL remained in the Bank, sud was used
oy II during the whole period the bill was absent in
Europe; The Bank may have entered the sum to
tue credit oil the Treasurer It's books but Urea
surer recognised the credit by bringing il upon
his books. Had lc done So it could not have been
Refunded 70 me bank without an act OF Congress for
money can be drawn from the Treasury but in conse-
quence OF appropriations made by law Upon The return
OF the oi Tie Government refunded nothing the Bank,
never having received the money; but the matter was
adjusted by taking from the Treasures account on the
books OF The Bank the credit which had been given him,
he Bank, therefore, never paid for the bill, WIS
deprived OF The use oil one dollar OF its funds by the pur
chase r.
Nor did the Bank advance adOar, directly Indirect
W. 10 lake up the Till in Europe. Ii the Bar
ngs IN London who were MS OF the Bank, aud it is al
legged, was sold by them. II such the fact The pro-
cee,'s were entered 70 The credit OF the Bank on their
books, End hle that institution had The the OIL
ginal purchase money in Amerra obtained the use OF
like sum by sale Of the ill though its agents in Lon
don.
When presented for payment by the assignees Of the
Bank, it was protested. aud the house Houcngucr &
Co oil PARE, stepped forward and paid Of the funds
oil The Bank, then IN their possession.
Now, what damage was this TO the Bank? II had he
use OF the original purchase money Of the hill amounting
10 S9oSo65, IN America. II had raised about the
su'n which then in The hands OF it's agents. by oil
the bill, in London Instead OF advancing dollar OF its
own funds take up the bill in Paris, had previously
raised those means out OF the bill ITSELF in London The
BaIings had but TO pSy Hotenguer & Co.. the
moneys they had received OF the bill and The
whole ALTAR was adjusted in Europe, in America
au III The book oil l,. I.,L,
ing ouI aty OF its funds OF this BILL either
in America or Europe, il actually obtained, through its
instfumenality the IF ddditiana sum equal 10 its
proceeds from The day OF its sale in London, that Of
pay ment ia Paris.
But the Bank had advanced its funds in Europe
10 pay this bill, il had the use, the same time without
charge, OF public moneys in America, many times the
amouB aud considering that the fiscal aq ent of the
Treasury, This demand Tor excessive damages Womb sill
have been most unconscionabie The average amount of
public deposite in the Bank United States
from 1918 TO lS3s inclusive, exceeded sir millions
hundred thousand dollars which, at an interest OF SIX
per cent. would yield $402 per annu or 1872 600
in ALL DuIng lie Time covered by this transaction The
depo,i,es OF public money were as follows, viz.
lsSs-FebruaTy, S952o.69e
March, lOII5O25
April, s,466,s $50
NAV,
Now, this honest and faithful agen, of the Govern
meni had advanced the money Ia Europe TO pay this hill,
II would seem that the graui'Ous OF many millions
IN America, at the same me would have been an ade.
qua'e remuneration But when it considered tat il did
not advance dollar but actually raised in Euope out Of
af-
forwards paid, (never having paid into the Treasury the
original purchase money of the bill honey the claim
appears thousand times conabe and licked
The Bank has on lis side as Little law equity in this
Transaction The paper not mere anle bill of ex
changes ard IL had so in FORM 10 rule can he found
either Iegi.laon of The States or of onoress mr. m
the law oil naons which subjects the Governments i'm lis
pecuniary Transactions 10 the responsibilities pre- bed for
the purpose of sustaining mercanus credit Neither the
law, nor the reasons OF the law relative exchanges an
ply 10 tie transactions Of Government. But are not
prepared II wc were competent, enter into a minute
dsquisiiion upon these points
II this claim valid the circumstances time and
manner in which attempt is made TO enforce it, cha
racterZe the movement as eXiraordnary The Bank
hos necer asked payment Of from III proper aufhorifv
Mr. Bidd'e very we'll knows, that the Secretary OF tie
treasury has 40 more right TO pay it, f its Justice
Were undonbied than he has to apply much public
money to his own IL only be allow ed by the
Congress OF the United States aud paid out OF an ammo
prsion made by them for that purpose. The claim was
hrsl set up in May, 1885, and the Treasury Department
men refused 10 recognise It, 10 July, 1888, dividend
was d. lAred, and the Governments proportion paid into
the Treasury In January last, another dividend was de-
c1red, and the Governments proportion aga paid into
The Treasury Congress met the first Monday in De-
cember 1888. and SAT until the 3Oh June 1884 but 40
application was made 10 t,at body 10 allow this claim
Although Mr.. Biddle we'll knew that other power in
che Government could allow it, or provide for its PAYMENT
no petition, request appeal, rcmonsrsnce was
addressed to that body, praying demanding adjust.
meBt Bat rs soo0 Congress has adjourned lie comes
forward and asks The Secretary what is Tie final deiers
nation OF the Government 10 that respect knowing that the
Secretary has power over il aud when asw cred linz
the views OF the Treasury DEPARTMENT remain un
changed, he takes the Law into his hands and seizes
on The publ nonsy in posse sson OF the Bank 10 satisfy
ni' most unioundcG and wicked claiml
There is law The statute book which provides that
no debtor OF the GoveInue shall be permitted pie sd
any matter or claim toh in suit against him, un
less shall first have been presented TO the proper an
thotiy Tor settling such claims, and eceh The Bank
has not submitted lie claim TO the proper authority but has
undertaken TO setHc 10 0trn account enter up JUDGMENT
ia us and do CrceRfOn the proDtrfv of the
Cove nmeni ~ IFS possession !! BY the Constitution
no money could be drawn from the Treasury 10 pay This
claim hut ia eont qnenee Of appropriations made lsw;
bot The Bank attempts eYsde The Constitution by sezng
tie public money before gets Into the Treasury snatch
ing The f6 Of the Jurisdiction OF Congress- and RELY
ing upon the Judiciary to make appropriation fOr lis
poymenf, thus pfosirstng # The porisni bar
riefs raised by The Constitution the sale guard of the
public moneys II is device 10 get claim upon ho
veinneni paid ioihoW on appropriations aud take The
management 81 me public moneys, fer The Bank is
concened o Of me hands Of Congress, and put IL into
those Of the Judgea
Aud what may we expect nexH Why, the Bank las
told us what SIC may expect We understand that Tie
same day tha, this resolution Of the Bsuk commut-
Gated 10 'e Secretary OF tie Treasury, lac also Off.
cay Informed, nial IL in contemplation 10 SET tp
clam JOr damages |OT me Tem0Udl n The GfpOsftSi-
Last year tie tabk refused give up lie Pension books
own the Government dividends, under preiencc of
claim Tor damages never iucuuef; and ~ tie same time
lays 0foupdoh0nJor sezttg upOH The Government dici
deuds ~ fufWc-up0n ne G0reyHmcHt moneys Sun fl
us possession and euen upon me G0ufTnnenf sfock it,
NDI Setting UP claim Tor millions account Of foao.
AND RENDERING JUDGMENT IN CASE. 1r
WILL DO EXECUTION UPoN THE PUBLIC MONEY AND
PROPERTY WITHIN ITS REACH. AND RELY F0R SUP
ronT IN THE OUTRAGE UPoN ITS DEPENDENT DEBr.
oRs AND CORRUPT fNSrRUmENTs IN THE Press, AND
IN rms VARIOUS DEPARTMENTS OF THE GOVERN