Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-06-05
Minority Report.

iho hSPOit VI tiic NiiHOiuy W uic Chheo '"'SS
Bank Investigating Committee, occupies upwards
of eight columns in the National Integencer ex- I
elusive Of the Appendix, which is also very volum-
inous, containing the correspondence, resolutions.
SC. interchanged between The Committee and the
officers Of the Bank The Report is drawn up by
Hon. EDWARD EVERETT, and, Us might be eI-
pecled, is Il most able document After giving
full account Of the proceedings Of the majority Of
the COMMITTEE, and Of their disagreement with
them az to the right of demanding the books, pm
pers, sc. the Report closes Us follows
In conclusion, the undersigned would
observe, that neither of them gave his
voice for the resolution creating The com
mttee, nor deemed the inquiry, in many
. OF Its objects, necessary or proper. They
hope it is not improper to add the express
sion Of the opinion, that, had the atten-
ton of the House been particularly
drawn in debate to the terms OF the re-
solution, il would have received some
modification; and that it is owing to its
passage under the operation Of the Pre-
vious Question, and without any eXamin-
: alton OF its details, that it received, in its
present form, the sanction of the House.
Being, however, placed on the Commit
tee, the undersigned were desirous of
discharging their duty as members of it,
under the order of the House, to the best
of their ability, and according to their
understanding Of the rights Of the Cor
poration visted--the powers Of the
House, and the principles Of Justice
They were desirous OF taking up the va
: rious matters Of inquiry enumerated in
= the resolution, viz: the cause Of the dis
tress, the alleged violations of the char
|, ter, and the imputed corruptions Of the
> Bank, one by one; Of considering them
in the order in which they are arranged
= bv the House; Of investg ating each ac-
Y cordng TO its nature; of inspecting the
books and examining the proceedings Of
O. the Bank according to the charter, that
!, is, in reference to aK the objects which,
= by the charter, are properly subjects OF
h such inspection and examination, or IN
regard to which the Directors might vol
unfairly submit them for inspections; and
of inquiring into the other matters refer
red to them, as far as, on consideration,
they should deem the committee COM
petent to do so.
OF all these objects, the und ersigne d
confess that they regarded that which
stands foremost in the resolution as vast
i ly the most important; an inquiry into
the causes Of the present distress. /,
y, was their firm persuasion that the coun-
a, try demanded this inquiry of Congress
A number of memorials and Of subscri.
~ bers to them, greater by far than have
any former period come before Congress
= invoked the aid of the National Legisla
Id ture, to relieve them from state Of un-
eg exampled distress An embarrassment
. unusually extensive and severe, and no
~ yet essentially allevrated, demanded ar
~ inquiry into its causes. It was alleged
X on the one hand, TO be wantonly produ-
ced by the Bank; and, on the other, tC
it' be the unavoidable consequence Of the
ne. ne financial policy pursued by the Execu
v" tive. The undersigned wished to mak'
=. this the first, as it was infinitely the mos
lie important object of their investig cations
rs to receive the testimony of enlightene
ri merchants and men Of business, in tn
,e intelligent community to which the
a were sent, (who might be willing to ap
,g pear before them,) as TO the extent an
ce causes Of the distress; TO receive fror
re the Bark those statements Of its affairs
which they are all well persuaded
would most cheerfully have afforded
and which would have illustrated il
position into which it has been thrown
a and from all other persons, on whom tn
be Committee would have had right I
re call, their testimony as to the manner i
which this measure Of the Executiv
- has been taken up and carried on. Sue
an examination, the undersigned believe
10 would have been useful to Congress:
satisfactory to the people, and powerful
in ly efficient in leading to the removal {
the heavy burdens now lying on then
This object first accomplished, as it we
.s the first in the precept Of the House, ,th
undersigned would have proceeded
consider the violations Of the cbarte
. and as the resolution Of the House doc
not confne the inquiry to those violation
md with which the Bank has been charge,
we'd they would have deemed themselves a,
. thorized to extend their researches
- those of which the Bank complains, pa
,ia- tic cularly to the removal Of the deposite
sale for reasons not deemed satisfactory
i Congress, as now appears Of record {
. the journals on one Of the Houses
No. Congress. If, after these inquiries h'
been gone through, it had still apPeare
: on considering the other matters col
. pretended in the resolution, that tn,
required or admitted further mvestig
AaG Il l. L.. l.