Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-10-10
POB.HTICA1,.
SPEECH OE MIR 1

Ohh hSIAa.
SPEECH OF MR.. BENTON-or Mrssoup,
Dsnpered IN me Senate Of the U,ted States asking
ffdpe TO Introduce Joint Resolution against The re.
''eiodi Of The charter Of the Bank OF me Jaifsi
Sfdfes.-Fe6r"0y I'd lsSl.-[CoNrrNuEDl
o. 10 deal in pawns, merchandise, and bills Of ex.
change hope the Senate will not cuire me m ro,
dry passages from the charter TO prove what I saw
know speak thing nearly incredible, when alege that
this Bank, in addition 10 all lis other attributes. is an in
corpors'en company OF pawn brokers! The allegation
saggers belief but reference the charter will dispe
nefeauii'y me charter IN the frs, part, orbds ,ra
nc IN merchaniIse ia the after part, permits it, For
truly this instrument to have been framed unon
e principles OF contraries; principle making linita
ohs anu TIE Other following alter with proriSocs 10 undo
them Thus il is With lands, have lust shewn ,bns
Is with merchandise, as now chew. The Bank is for
bid 10 deal in NEUTRALITY-SUSPICIOUS. unless i'm Tho =,
goods pledged for money lent and not redeemed ~ n
DAYS anu, pr2rso again. unless for goods which shall n.
INC proceeds OF us lands. With the help Of these two
Proo'soeS u Is clear that the Limitation is unduno fl il
clear That the Bank is at liberty act the pawn
ana merchant, to any extent that il peases IL may
20 az me merchants who want loans, pledge Your sores
eenuehe"! ihey must do il. or 10 worse aud, il any
accident prevents redemption the day the pawn il for
anu he Bank takes possession. On the hand
IL may lay out It's rents for goods; it NAV sell s rea e
ate now worth three millions OF dcllas ior soods Thus
the Bank is all incorporated company Of rs~n.
aud merchants, well az an incorpora,i,n mi I,n
lords aud land spectators and this drrogatorv nriv
iege ike The Others, is copied from the old Bank Of
England charter Of 1854 Bill. exchange ere aI.o
subjected 10 the raRic OF this Bank Ii is n traffic
unconneced with The trade banking dangerous for
great Bank TO hold, and operating iosl IN nriously in
these
quarters OF the Union u their gold silver aud stiles
the growth OF fair commerce in the products ot ill.,
country The merchants, 10 make remiltances buy hills
OF exchange from the Brspch Banks instead Of buving
produce from the farmers The bills are paid aor i'm gold
and silver and, eventually the gold aud silver are sen 10
the mother Bank, the Branches I'm a.
either to these bills epienish their eoters
TO furnish vast loans 10 fayette States or individuals The
bills sell cheap say fraction OF one per cen, t,, az
therefore good remittance the p,ercbaat TO fLe
BaDk The operation is douby good for even The half OF
per cent on bills OF exchange is great profit he
suion which monopol>es that business while the col
lection and delivery 10 the branches OF all hard mo
ney IL the county, still considerable ADVANTAGE
Under this system, the best of the Western Banks do
not speak oil those which had foundations and SINK
under the weight Of negbborlood opnion--but those
which deserved favor and confidence ten years
Under this system, The entire now UNDERGOING
silent, general. aud invisible drain its hard money and
IL not quickly arrested, these States will soon be- so far
the precious metals sre concerned M nsr. r., a.,
empty skin of an inundated victim.
a. To establish branches ia he different States whou
their consent, and in defiance OF tcir resistance one
can deny the degrading aud Injurious tendency OF This
privilege IL derogaies from rie Sovereignty Of a State
rsmPes upon her lsws, III ures her revenue and com.
inerce lays open her government TO The attacks Of CEN
TRALIsM impars the property OF her citizens and ssten,
vampire her bosom suck nu her gold and silver
l. IL deroga'es from her sovereignty; becsasc the central
institution may impose lis intrusive branches uno, ,ho
State without her and m leaere OF her res;s,
ance. This has already been done The State of ALL
DANA but iour years ago. by resolve of her legislature
demonstrated against the intrusion Of branch iron her
She protested against the favor. Was the will of ,Ie
State respected On the contrary. Ioi branch in.
urCN II, ty the
me scon 10 make striking aud conspicuous display of
the ouIHPoence OF the b nix, and lie nuIIiiy of ihe
stale IL iramples upon her laws; because according
TO the decision oil The Supreme Court the Bank and all its
branches ARE WHOLLY INDEPENDENT OF STATE re
GIsLATfoN; aud IL lrampies them again because i,
authorizes foreigners hold land ard tcuemen,e Ia syar
o'aie contrary TO tie laws OF many Of them; aud because
II admits OF the morfnlGin tenure which il
ali the republican States in The Union 9 IL Inures her
revenue; because the bank stock under tle de con Of
the Supreme Court is liable 20 tsxaiion Add thus
Foreigners and non resident Americans, no monopoise
tie money OF the State. who hold best i~rs and town
lots who NEEDLE in ts elections aud ito od and
silver, and perform military duy, are exempteJ from
paying taxes, in proportion 10 5ir wealth. for Me snpporf
OF the stale whose laws they uaPe upon and whose 6ene
fits they usurp, subjects tile State 20 the daugerous
manmuvres and antiques EN1RALIsaf by means of lie
tenants, deb ofs, bank officers and bank money! ir Inc
Genital Directory retain in tie State my eabody and
direct against II in lis elections in it's Iegissiye and
judicial proceedings u tends 10 impair the property Of
the citizens, and In instances that of be STATES
by destroying The State Banks IN wcl they have invest
ed their money g. IL Is Injurious the commerce Of lie
States- speak o the Western Stafrs-hy substituting
trade ~ bills OF exchange, ior trade in lie products Of
the country. II sucks away its god and silver tnd n,
cooperate WITH ias'cns VAMPIRE The bosom Of The
STATES TO the course OF trade OF federal iegislaon end OF
exchange IN draining the South and est Of all bjr hard
money. The Southern States with ier thirty t,glous
oil snDua exports Ia cotton, fice and tobacco aug lie
Western States with their twelve millions Of sg,vis;ors
snd tobacco exported from New Oled sId five iiots
consumed 10 tie South and on the lower Mssiss.ptj-
That - TO say, With three hs Of tie marketable pfolnc
uoDs OF inc mon. are no able 10 sustain irly specie
paying banks; while The minority Of tie Slses Norb "A
we fotOmac, Wlh0h aHy Of TIE great staples Tor export
have above Tour hundred Oi such 6dnL9. These stts
without rice, without cotton, without tobacco wbout sn
gar aud With less -four aud provisions to export are s,
rated with gold aud siivei while the Southern and Wat
ern Sisies, with all Tie real sources Of weslg, are in
slate Of The utmost destuton. For This calsmiious ~.
versal Of tie natural order OF hiDgs, he Bank Of the
Dn'ed states stands forth pre- .efnineOuy culpabe Yes
n - pre'eninenuy cUlpibls end statement In The n !,
uonsi intelligence of This morning. paper which
would oyofsiae no fact 10 The prejudice Of the B,nk
cites and proclams The tact which pfores this eoosbilv
~ dwels, end exn on the quantity Of gold and silver In
me vaults OF the United Stses Bank IL declares that in
suuon 10 be "0DefbUTfhencp viii cold aod silver; and
Wen may be 80 oyefbguhened, since IL has lifted fbe
load entirely ifom the South and est II calls tbese
sn article Tor which purchaser can be found Ie,es
drug, like The treasures Of the dehroned Dsy Of AL
gers DO released hoo The dominion Of its keeper; lei
Psr GO back 10 the South and West and The Bank In no
longer complain Of repetition, nor they Of depletion
D. Exemption Of The Stakeholder from Individual Ia
Nop DE common law, is contrary he principle Of Part