Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-12-11


pntaon Is founded ON the facts of the progressive in
crease for some time evnccd the actually rcceiv
ed during the past year the great quantity Of and
sAleabe lands coming into market; the enlarged demand
for them to satisfy the necessary wants of growing
population and OF the emgrants from Europe, and the
high prices which their produce fortunately obtains both
at home and abroad.
The from Bank dividends has been estimated
at somewhat less than heretofore in consequence of tho
sales OF our Bank stock, under the act of July 10th,
ie2 Tor The investment Of the accrung income of tho
Navy Pension and Hospital Funds, having already
amounted to 656G50 dollars, and which the Treasury
can now receive no dividends applicable TO general pur
poses 1t might perhaps be advisable TO deduct still
further sum to meet any contingency like that of the
present year in which the United States Bank without
the consent of this Department the sanction of Con-
gress and without any forewarning of its intentions
seized about 1700f dollars of the estimated
from this source and has since withheld it from the pub
lie Treasury.
Copies Of the opinions of the Attorney General and
the whole correspondence this subject between the
Department and the Bank, which took place previously
to the request for these opinions annexed for the
consideration and action of Congress. [B 1t may be
proper to add, that within few days past
ncaon in relation to this transaction has been received
from the Bank and when reply is finished; both will be
submitted, ifdesred No foundation appears have
istcd in lao cqty for the great claim of damages
by the Bank on account of the protest of what has
been called in common parlance the Bill of Exchange,
drawn on the French Government by this Department
Iii believed that the bill when protested ought, by
agents abroad had they acted with due regard their
principals to have been taken up for the credit of that
principal winch the United States rather than for
the credit of t Bank Or at the farthes fsmilar and
coniictn grerSns cxss'ed etween them and the Bank,
fhsey sIsHt ave prfsucur equitable ny
IT up for them edit of both the United States and tho
Bank, the liberal of giving the preference
TO the Goverinent which the drawer and, either
of these events no for difculty,by this extraord-
nary claim would probably have been left But as these
agents preferred different COURSE thereby Justly
pairing the further confidence of the Government in
their discretion, 1t would seem that the Bank the
place. having long been the general fiscal agent of the
Government and the primary one, Importance should
have returned the bill and made charge against its
principal, the United States except for the actual adj
and the actual costs and expenses had incurred
i'll the transaction The actual advances by the Bank
when the bill was originally received, had only been
matter of form, and were nothing.
Ihe money, in fact never belonged TO this Department,
except IN trust fer the merchants their widows and
orphans, who had suffered by French spoations, and
sum exceeding the whole amount of it having been left
m the Bank and its branches and no part of the money
having been brought the Treasury by warrant
II was immediately, notice of the protest, restored in
sorm, and Willingness expressed TO make
ton to the Bank for all reasonable and expenses
But the teepaton Of an opportunity to obtain from
ITS principal, by novel species of litigation, through
virtual judicial prosecution for damages against the go
scrnment oil the Unon seems to have been too strong
for resistance, and the Bank concluded 10 depart from
the above equitable rule, and by technical regula
uoh oil strict law between individuals to attempt 10 pro-
cure large sum, constructive damages and by
the extraordinary mode ofsezing the dividends, which
had been declared by the Bank ITSELF TO belong the
United States, and of Withholding them to abide the
binary contingencies of a lawsuit 1t seems TO have
preferred this Unprecedented course rather than TO pur
sue the usual mode of petition addressed the Justice
ct congress, though Congress is well known be tho
;os s lily tribunal for ndinsiing controveTed
by the United States and the only tribunal which, un-
der The Constitution is ever empowered to appropriate
money, TO discharge any claim whatever. After apply
ing to tins Department and being long year ago
last June, informed of its inability to admit author-
y to discharge the damages demanded it is remarkable
that the Bank should have continued pay over the ac-
cruing dividends and not till after the last Session closed
and when any deficiency in the revenue could
not be provided for shoud without any prior application
to Congress, have resorted to this unusual proceeding
and sought to have its claim against the United States
adudca'ed by the Judiciary when he United States
not amcnabc to any citizen corporation high or low
before the Judiciary for the decision OF amy claim unless
they have of their accord been pleased TO resort tn
that tribunal by previous action against debtor; and
in which evcngonly, is seof under certain limita
tons authorized to be pleaded either equitable
gal But here the United States had instituted no such
action against the Bank, and had intention or foun-
daton to institute one; and yet the Bank the case
provided iii the charter where dividends might be with
ed but ny an nnaithfn act as an agent, and pub
lie corporation towards its principal and the community
proceeded to seize their dividends in entirely diff
crcht ana most questionable, in equity well law,
and refused TO full the duty imposed by its charter and
by civil and moral obligations Of paying over those di-
ydends promptly to the Treasury. In the adoption of
tins reprehensbe course attempt is made to force the
Government either to lose their dividends entirely or to
pay controverted claim for damages which so far any
Gifts Departments officers have examnedit was found
and pronounced to be groundlcss consent 10 let the
United States be arraigned debtor and compelled to
submit the claim to decision before branch of their own
Government, to which such claims are not ordinarily
submitted and to whose decision could not be referred
IN this instance, but by the previous commission on tho
part OF the Bank ola delberatye violation of its obga
tons
Inc further attempt appears TO be made in this way TO
take from Congress and the Executive the Constitution
al power, on their high official responsibilities and decp
sense OF duty, to make withhold appropriations to dis
charge all controverted demands against the United
States and TO enable the Judiciary instead of them in
directly and unconstitutonaly make these appropra-
TONS IN all cases of citizens corporations who possesa
doubtful claims and INSCRIPTIONS enough TO commit
IN order to prevent their adjudication by Congress- de-
beratc attack the property of the United States or
deliberate sequcstraon of their acknowledged dues
For further and more detailed views on this extraordi
nnry case, reference is made to the whole correspon
dencc and opinions annexed, without the discussion of
any course which Tive power and the wisdom of Congress-
are able ~ select for evncng its opinions this outrage
whether, by Withdrawing indulgenccs from the Bank az
TO the receipt OF its notes for public dues by adop
ing other the subject which the nature
Of the transaction, the rights of the United States and
the constitutional Authority Of Congress- may be- thought
to justify and demand. Believing that similar seizure
vas not key to be repeated by The Bank in 1885 nm
der the other pretence Of satisfying claims for DAMAGES
IN consequence Of the reova Of the depostes as sci mn
IN its second cttes this Department has estimated tho
probable revenue the ensuing year from this source at
the usual rate of dividends lately made all our stock in
the Bank remaining after the sales which have taken
place for the investment Of the Navy Pension and Hos.
pital funds But should Congress- on full examinations
OF the subject, think otherwise il may be provident TO
supply other equivalent for this portion Of the csti
mate receipts.
The estimate of revenue from miscellaneous aonrcra
has been computed little below the actual receipts Of
the current year; because the dividends applicable to oe-
neral purposes will be on a less amount of Bank stock
and the anticipated sales Of such stock to meet the fur
Their wants Of the before acntioned funds will be much
reduced In this explanation Of the estimate Of the re-
cepis during the coming year. il IS hoped that sasaco