Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-10-14
P0LREECAsI.

JnIed Nfdifs. nsEiu
ledoe 10 introduce Joint Resolution against The re,
'ieUdf Of the charter Of the Bank Of the United
States.-f February I'd. issi.-[CoNcLUDEDl
And here IL Is profitable pause 10 look back and SCI
by what means this tncien and pow erul instituon,bis
Babylon OF the banking worid-wos so suddenly and so
totally prostrs,ed. Who did IN And with VII, -
pons Sir ~as done by that power which is DO W reeu
ia'ng the affairs Of the civilized world II was done bv
Tue power Of public opinion, invoked by tho working
hers OF Tie British Parliament, Il done By Sir Henry
Fanel who led Tie attack upon the ellington ministry
on the night Of tue 18Th OF November; by Sir VIM Pal
teaey' Dir Greniei Mr. Hume. Mfr. Edward Ellice, aud
others. the working members oi the House OF Commons
such as had ew years before everthrown the PIC anic
expressions oil the salt tax. These The men who have
o'sfthTowu the Bsuk Of England They began the at
tack ia 1894, under the dscouragug cry OF lOo soo fo
soon-or the charter had ieu nine wears 10 runi snd
ended With showing that they had began Just soon enoIeh
Ibey began with tic mDsers u their front ON The side
OF Tue bank and ended will baving them on their own
sue anu nahng them coopeF0ofs in the attack and the
instruments and iniceTs Of the fatal snd final blow BuI
,e us DO justice TO these ministers Though roDg the
oeenoiug they were right 10 the cad thou. IA mona eh
,sts they behaved like republicans. They were noiyo-
ignacs They yielded 10 the inelg ence Of the aye Ney
yielded 10 Tue spirit which proscbes nonopoes and
ieges, aud IN their correspondence with Bank Iec
tors, spoke truth aud aud asserted liberal PRINCIPLES
with . point and power which quickly puf an end 10
dangerous and obsolete pesIsions. They told The
Bank The notifying truths that its system was UNso.
LID AND DELUsIvE that its privileges aud nonopo-
~ were OUT Of FAsHIow-thst they could cot be
prolonged Tor FIVE YEARS EvEN-nor suffered 10 ex.
ist In LoNDow ALONE and, what s,il more GU.
ung, mat tho BANKS OF SCOTLAND. which al no mo
nopoiY, pTiyile With the (oyern,ns "a,
wch Paid interest on depoIlles and whose stockholders
were responsible 10 the amoun, OF er slares-were te
SOLID AND SUBSTANTIAL BANKS, which .Ione the
public interest could hereafter They did tbrir
business. when they undertook g. like true men: and in
the single phrase OUT OF FASHION ed the most
powerful combination Of solid sJgu ~ add conempluous
sarcasm that ever was compressed into words Ills
phrase OF electrs power senses and passon.
throws back the mind 10 this regns OF the TUDoRs aud
sTUARrs-the termagant Elizabeth. and tho pedae orue
James-snd rouses within all the shame and ,ao 60
have been accustomed 10 feel AZ the view of The
sales OF privileges and nonopoes which were M
AID oppression OF these wreched times Out of fashion
Yes; even in Eugsnd, the land Oh their es,v bb ond
late protection And shs they remain in fashion here
Shall repubicenism continue to wear in America lie
antique costume which The doughty cbaionicns 81 49,
tqused fashion have been np,lled 10 dotI in EoI,nd
Shall English lords and ladies' continue 10 find il, he ~
nfdeS BGnh, Tie uejust and odious privileges uhicb then
tho copy survive here after The otg has been
there! Shall the young whep triumph in America eJfcr
ne oo non mas been hroed and stfanglsd III England
NO. never ihe thing is impossible! The Bank OF lie u
States dies, the Bank OF England dies u ali lie oo.
points, the Limitations Of lie cIafier; end the only cir
cumstanee Of regrets, that the generous deyefanrc ia 10
take effect two years earlier Ia iLe B,i,h ran,,cIs
than in the American republic.
One word, Mr. President, opon an ineid.c,,I tool. .,
Is shown that the stock Of the Bank the United states
has islcn hive per cent 10 consequence Of the opuiois dis
closed III the Presidents message; and .hoteinon 80,
psinl s preferred sgant the PfefiIen for drnrec; G
the property Of Innocent aud unoe ndipg prope naJe
remark upon this complaint IA the beginning Of INV
speech, and now have rcrd 10 bes.oy upon in
wish 10 contrast this couduct Of Ameficap sfarL hodos
with that oil the Bank Of England stockhoLJsrs in 80;
lar, and 10 them much more disastrous case ~. p,.
OF England stockholders also have had dscIins H. %
price OF stock; not OF So, but Of &35 ~ the share Bsn
OF Engsnd stock, 10 consequence Of Fad LiyoTpOos
munlceuons hud Of tbe debates IN Parliament hss fen
iIen 2SS to zOS, squa 80 loss o. SI65 on every iar
This Is something than So. Yet 6aye never Ieard
mat Earl Liverpool CT any otbor noiOber Of Psfisnent
has bsen called 10 account for producing THE
would seem ihsi the liberty speech and the r,Ls Of
discussion, in Great Britain extended TO the ,ns f H.
Btnk Of Eogisnd aud that Mnisiers and l. soisls1o
sole IN haDdhoE It like any Other subject
~ object, Mr.. President, 10 o renewal Of III. P,ot
charter because ibis Bank 10 an institution too cos,l
expensive Tor the American People 10 keep up.
10, 90 ono cagil at die bead Of objection unde fbe be
e 0a' tue BANK Of the UDiied States supports tseii ike
the hibernal bear, by sucking lis own paws. or mai d.
flyes lie revenues spider plns is @eb rom . r
ses Of i0 own s5doaieu. Such JoJisf sonn Lo ss,,
nsy erroneous, snd highly uDbccomiDg he intelligence
i've, upon tie People, nss I'll is cxsensss spo
Of The People all 10 profits derived tom tls All III ~
consequences sSefy shilling held Usod by the Bsnt oye
sna shove iho capital stock, - TAX upsu lie prgr' =
sno Is such shsl lock niO The amount oi Tic 3
prove 70 90 too great Or the People 10 boar soy on1
Ia the FIRST place, NO have Tie direct evoe,se 80 =, .
bank, the actual cost Of its annual Adpnisft no, H.
expresses ere returned al s72 900 of the wear 1890, AMI
asum1ng mat son Tor an average tie total cost of 30
hdmin'sifatoo for twenty years wili be about ssg &
hdlI millions Of dollars. The enornitv Of u,;s -,
suse sysy nind but 10 Judge accurately let us com
pare ~ 70 Tue eAPensesOf known ss'sb,b,neof :,
~ 'ase 1be civil l.t Of tho Federal Goysrnmsn1 H. a.
hfst term Of Pgesdent WAsufwGToNs Atlanta ~,
hesohng 70 ibis standard, nd the expeudil,,s ~ 49,
ntncn oi eDvernmeut p be- ior 1872 1881 0OO for ,02
SS0oOO0, of 81, Sl4i 900; iof 'O5 ege o00. os.,,'
~ snpusl average Of S35sOoo; which is Dot
me Dtnk expenditures Tor 1889 NOW what were H.
hetds o. expenditure included a the cSJlis, "a a.
SeVra o' ihsy wee no salaries Of he Preside nd sol
l,eefIesdeD; TIC salaes Of Ill ho fecretsrles ,5c,r
an9 messengers, and Tic purchase Of The psr>nle,
iis Of al their Offices; compensation 10 ,ou
gfes aud Tie dscbsfge oisfcry attendant saI,s