Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-28

Hill countless Pennsy Cineinna-and In Lou
doun. Fauqner and Jefferson counties, Virgins. Tho
principal movers in these three last gentle
men Of the cd Fei' raj Patty.
THE FIFTY MILLION BANK!
Rumours of u new Bank, to he established under
the wing OF the President, aud MIR. Van Buren,, have
been ndustrously and insi,liously circulated by the
Opposition and the Bank men, The last version of
the report, is, that it DO fifty million Bank
and TINT it be the result of compromise be-
tween Mr.. Webster and the Administrations through
MIR. q. Lawrence Of New York. Now, what is said
by the New York journal of Commerce" to 10
the true history Of the transactions:
CAS- to the Efforts OF Mr. Webster and Mr. Lawrence
which have been so much spoken OIL and to which, We
and e,nbsrrsssmens which the country this
Is the history Mr. Webster, inthe fist place. endea,or.
ed to bring about re.chsrer present bank TAIL
ing IN that, he next proposed new Bank with capital
Of fifty millions Of dollars the stockholders Of the present
Bank to have liberty subscribe th. shares in the new
To OF, Consult objections Of the Presi-
dent il proposed that this Bank should be located In
the District Of Counbia with liberty TO establish branch
es subject 10 the consent OF the Legislatures Of
the respective States The proposal OF Mr. bite, In the
Legislature Of Massachusetts, Transcript OF this plan
and sujon II. This proposal the President into
c~.e to il, and Mr. ebser declined propose any
plan which should no, include the stockholders OF The pre-
sent Bsnk the negotiation terminated and there
mains no hope from this qusrter-Durng these negotia-
Mons Mr. Van Buren, Consulted by Webster, nor
Is there any arrangement between those gentlemen
any subject Immediately the reakng oil of the ne.
gotia,ions have described, the declaration of
the Globe respecting the opposition Of the resident any
Bank declaration OF Mr. of the oni
nons OF the Vice President o the same efec,.'
MIR. Websters device for steering clear of the
constitutional difficulty is n mere subterfuge. Adj
init the right OF Congress 10 establish Bauk in the
District, Gas the Bank of the Metropolis of George
town, &c.) yet they have right to establish u
branch in every State, with the consent of that
State. No new power can be engrafted on the Con-
sttution, by the consent of one, or two States-or
in any other way, in fact, than the Constitution
points out. This principle is clearly established by
MIR. Madison in his veto Message upon Mr. Calhoun;s
famous Bonus bill, in 1917. Take the following
passage:
elf gene power to construct roads and canals, and
In the naviga ion Of ties. with the Il ain
powers incident Hereto. be lot posse ssed by Conges
the assent Of the States, Ia the mode provided in the bill
cannot confer the power. The only cases which the
consent AMI cesson OF particular State. can extend the
| in the Constitution
| This scheme of Mr.. Webster, then, must be Sc,
aside-But the Journal of Commerce declares thut
Mr. webster will now go wholly against the admit
nistraton on the matter of the Bank and the Demo-
sites. His late speech goes verify this prediction
But MIR. Webster is somewhat hampered on the de-
posite question, and clearly the recharter by his
own confessions in 1882. MIR. Cambrceng cites
them in his speech:
"In May, before the bill 10 the President
| he said:
| Seeing the hostility which exists to renewing tho
char er, AID the extent Of that hostility, il the measure
canno, now be carried not only prudent regard to its
o'on interest but the highest duty to the country ought
/
career Hhdsno before it one day to oind up, ,chout
distressing The community in such past concerns
now two years and half since the President in
vited the tenton Of Congress this subject in
vitaton has been than repeated Everv tchere
suref has been eons iered every ,ohere it has been
discussed The public interest requires our deci
SION upon It, and the public uoice demands that deci.
"Again. after the the President had been put on
the bill. Mr.. Webster said:
'Ihe bill negatively the President hos assumed the
responsibility of putting an end to The Bank: and the
In fbnfr
concerns iohie the expiration of the charter tcH pro-
duce.'
ment the charter Of the Bank expires; within that period
here'ore 1t must wind up its concerns
But now, upon the strength of the panic and ca-
NOR excited by the Bank, Mr.. Webster calling
out again for re-charter-and virtually declaring
that the Bank ought to be made prepare for its
| dissolution
Indeed, every attempt is now making by the
friends of a strong, National government to force
the present Bank, or new with SO millions
capital, upon the People of this country BUT
the share which has been attempted to the adj
in'nlsraton IN either of these designs, is utter
ly gratuitous and unfounded Most of tile rumour
IN circulation are the vilest fabrications. We have
not the remotest apprehension, that the President
or the Vice President will sanction either of these
schemes. They would be only signing their polti-
cal death warrants 1t would be one of the darkest
days which this country has ever SEEM 1t would
not only be vital stab the Constitution but at
the Liberties of the People, 1t would be perpetual
ting IN It's administration. But a moment ike this
when we are threatened with the establishment of
oO millions Bank, we see men flincling under the
pressure, from whose frmness greater sacrifices and
| exertlons We're TO have been expected. We see
members of the Legislature attempting to screen the
Bank, for the purpose of aiming single and deadly
blow at the President. We see some of the repre-
sentatives of the Old Dominion avoiding to express
an opinion against the cOnstutionay of the Bank.
Well, (says friend) might Dir. Clay be justified,
IN declaring, that 1--WE are in the midst of great Pc
litica Revolution if such things can be tolerated i'm
| Virginia:"
"Ani the revolution consists in tli., that the man who
has practically administered the Government prin-
eP he etoiore all, coated by this State who arrested
the General Government III us career eff internal i'm
Provemehs, who has vetoed the Bank Of the u S. and
declared II to be unconstitutional usurpation of power
and who has, In fact, settled every question formerly in
dispute between the fedeasts and in favor
OF the latter Is denounced by calling the
friends oil State rights with the certainty If not Tor the
purpose OF strengthening the party directly opposed to all
their opinions aud doctrines and Of ultimately securing
the triumph oil that party, and thus sUrrendeng the Co.
vernnenl to their direction This is the revolutions with
which we are threatened and which will be accomplished
the Legislature OF Virginia shall give such course to
the opinions Of the people oil Virginia, of their
Representatives de sire -
No-Tbe question is come to issue Bank
or no Bank? The Constitution, or no Constitution
Shall the People rule the Bank, shall the Bank
rule the People?
The course of Virginia has excited the curiosity
and the surprise Of some Of the other States Her
opposition TO the Bank is supposed to have been
shaken-It is the duty of her Representatives to
tnke such clenr. decided Unconditional oo,,x-o =.