Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-14

az Bank, lie had officially announced that he did
make upon the Bank, aud intended TO al
low the public depotes TO remain until the pleasure OF
Congress was expressed, public confidence would have
been assured and unshaken, the business OF the country
continued IN quiet aud pio,pery and the bank
rup,cies in our commercial cities averte The wisdom of
human actions is better known in their results than at
their incepon That Of the Bank is manifest from all
| Of perfect secuiiiy.
Z. The Secretary complains Of conduct of the Bank
IN de'egating TO the Committee OF Exchange the trans
action OF Important business, AMI IN that comnittee being
appointed by the President, aud not the Board. by
which the Government Direci have been excluded
The Directors who compose the Board meet only pe
riodicay. Deriving 40 compensation from their places
which the charter Indeed prohibits the from receiving
il cannot be expected that they should be constantly in
session. They must necessarily, therefore devolve
great part OF the business OF the Bank ia its Details
upon Tie oilcers and OF the Corpor Ii is
suihcient, II the Board controls governs and rec Is the
whoie machine. The most important operation OF o
n'nS Is That OF paying out its cash. and that Cashier
OF ieller' aad not the Board, performs As TO Commit
ices oil Exchange, the Board being alw session.
Is evident that the convenience Of the public requires
mat there should be authority Bank daily TO
pass daily upon bills. either in the sale or purchase as
The wants OF the cunmunity require. Every Bank, be-
eve. that does business TO any extent, has Committee
oil Exchange similar to that of the Baak OF the United
States La regard 10 the mode Of appointment, by the
President of the Board is in coolori,v viii, tho
oie usage oil The House OF Representatives, with the pac.
nee oil The Senate TOR several years. and until altered at
The commencement Of this session, with the usage in
great variety, ii not all, OF the State Legislature s
and with that which prevails in our popular assemblies
me President Speaker, Chairman, Moderator, almost
| appoints committees. That
verhneht Directors have been the Committee Of Elk.
change, has proceeded, ii is be presumed from their
not being entitled from their skill and experience and
standing IN society, 10 be put there The Government
Directors stand upon the same equal footing with those
appointed by the stockholders. When appointed they
thrown mass and must take their fair chances
with their colleagues AZ The President u. States
VIII nominate men OF high character and credit OF known
experiences and knowledge in business they will doubt
be placed III corresponding stations Ii he appoints diff
eTent men, he cannot expect it, Banks are exactly the
places where currency and value are well understood
aud duly estimated piece OF coin, having even the
stamp oil the Government will not pass unless the metals
pure.
The French Bill forms another topic Of great COM
pIat WIN The Secretary. The OF the case is that
the Governmen, sold 10 the Bank bill that of France
Tor $500, ooe which the Bank sold in London whence il
was sent by the purchaser to Paris receive the amount
When the Bank purchased the bill, paid amount 10
the Government, which is the thing, passed il 10
the credit OF the Treasury, to be used on demand The
bill was protested in Paris. and the agents the Bank TO
avoid It's being liable TO damages took up the bill ON ac
count OF the Bank The bill being thus dshonored the
Bank comes back the drawer, and demands the cuso.
mary damages DUE according TO the OF all such
transactions The complaint OF the Secretary is that the
Bank took up the bill 10 its credit and tina,
"iu not do IL on account oil the Government; in other
words that the Bank did adv at Paris 5000 900
10 me Governments on account of bill for which it
had already paid every dollar at Philadelphi&. Why
SIR has the Secretary read the charter! II he has,
he must have known that the Bank could not have
ddrdnced the 100000 for the Government Al paris
without subjecting itself penalty OF three Zines Tho
amount S27OOOO0) The 18th section of the charter il
express and positive That ii the said Corporatjon shall
advance or lend any sum OF money for the or on ac-
count the Government Of the United States TO an amount
exceeding $5ooooo" all persons concerned in making
such unlawful advance loan, shall forfeit treble the
amount, one. fifth TO the nformer, sc.
g. The last reason which shall notice of the Score.
tary Is that this ambitious corporation aspires possess
political power Those in tho actual possession of power
especially when they have grossly abused it, are
ally dreadng its loss The mser does cling TO his
treasure with more de alhke grasp Their s,ispcions
are always active and the alert. every form thew
behold rival. and every breeze comes charged with
alarm and dread thousand spectres glide before their
enligh,en those who have placed them in Office nis-
ter design 10 snatch from them their authority. On what
other principles can account for the
brought forward by the Secretary against the Bank
More goundess and reckless assertions than which
he has allowed himself TO embody i'm his report never
were presented TO deceived, insued and outraged peo
pe Suffer me- sir, TO grospe some of them: He asserts
that there sufficient evidence 10 prove that the Bank
has used It's means TO obtain political powers" that
the Presidential election the Bank took open and d.
rect interest, demonstrating that using its spapeH
''.s' .vu"uy tda 1t entered the political arena
that circulated publication containing attacks on ,bo
officers OF Government ); that it is now openly in the
orooTS Po' mna partisan; that there positive
hna'ly he concludes demonstrated pronos,ion
Fo1rhy that there is sufficient evidence to shew that
inc Bank has been and still is seeking to obtain political
power and has used its money for the purpose of uil
encing the election OF the public servants"
h.er all ths who can doubt that this ambitious corpo-
ra"on Is candidate Tor the next Presidency? Or if il
can moderate its lofty pretensons that it means al least
10 go Tor the Office Of Secretary of the Treasury npon
The next remova But, sir, where are the proofs of these
political designs! Can any thing be more reckless Than
these confident assertions Of the Secretary? Let ne have
me proofs; call Tor the proofs The Bank has been
he constant OBJECT Tor years OF vituperaon and calumny
has oeen assaled in every form of bitterness and maiS
hy us operations have been lis credit
and tile public confidence in its and soIidv at
tempted 10 be destroyed and the character of its officers
assaled Under these circumstances has dared IN de-
fend ITSELF Ii has circulated public documents
oil members oil Congress, made by Chsirmen of
Committees friends OF the administration and other ma
p8rs. And, as 1t was necessary to make the defence
commensurate with the duration and the extensive thea
ire oil The attack il has been compelled TO incur heavy
expense TO save itself from threatened desrucfion I,
has openly ayowed and yet avows its right and
to defend ITSELF All this known TO the last Compress
Not solitary material fact has since disclosed nd
when before, in country where the press is free was II
deemed criminal for any body defend ITSELF Who in
vested The Secretary OF the Treasury with power TO in
eIPose himself between the people and light and nteI
gence VINO gave him the right 10 dictate what informa
ton shall be communicated TO the people and by whom,
hence does he derive his jurisdiction! Who made him
Censor OF the public press' From what new Sedidon
law does he deducc his authority! Is the
81 The American press part OF the financial duty o.
Secretary OF the Treasury? Why did he not Law rhe
whole case before Congress, and invite their revival of
me OLD section law! Why anticipate the arrival of their
SESSION! why usurp the authority of the only parment
OF the Government competent TO apply remedy If there
he any 10 abridge the freedom OF the press, the
secretary wishes 10 purify the press has mos, Her
cuean duty before him. And when he saies out n, M;
Quxoc expedition, he had better gin with The Aupean
stable The Press nearest 10 him, his organ as most need
! ing publication.
have done with The Secrefary's reasons They bave
been weighed AMI found waiting. There was not oDIy
no financial motive for his acting@he sole motive which
ration forbade him TO act proceed now in the third
and last place, examine ms amer in v;c h.