Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-03-04
Twenty-third Congrcss.--Ist Ses.
IN SENATE Saturday, february %.

sage of the present Bank charter No doubt the gentle
man had intended TO state their substance fairly but he
nan mol stated the words, but only what he supposed the
import IL not possible for him (NIr w y to State
upon his all that he had said ON thai
gu, 'oUk Tor granted, however that taken together.
was all In full accordance with the sentiments which he
mad more recently expressed He would take this oppor
uniy oil saying few words tho occurrences OF that
lime, as mistake, or Misrepresentation, had arisen the
other morning between honorable member from New.
York and himself That honorable member under
stood saying, that he, Mr. W. voted against the Bank
Bill 1915, to which remark he had dissened.
by The gentleman's printed observations, however, il
he was speaking, intended 10 speak, OF
would have been true. He believed that in cvery ses-
son except perhaps the first, after he became member
cussed, until the present bank was established For some
OF them he had voted and for he had not. They
them authorized in terms. suspension specie
All such, he had steadily opposed Some of them very
nearly resembled the Bank incorporated in General
washing'on's time; and these he had uniformly sup
ported. In some cases the proposed capital he thought
unnecessarily large, being fifty millions. This great
amount OF capital he willing agree TO- To well
cons uted speciepaying Bank with reasonable amount
OF capital he had been favorable in all times and under all
circumstances in peace and in war The BILL constituting
the present Bank underwent many changes after its
PRODUCTION into the House OF the object
OF those amendments being to make il, possible
sound speciepayng Bank, and TO from il all
undue influence of Government. In pursuance of this
general object, section introduced by gentle
man from North Carolina, (Mr. Gason) with whom he
was always proud to act. imposing The Bank penalty
Of tceue per cent interest," 1t should, at any time re-
fuse to pay its notes in gold and silver demand This
was for the security OF the public And the con which
had now been the subject of much discussion that
speeding the deposiies was introduced his (hr W's
motion. This intended for the security of the Bank
well of the public The direct object Of this was
that the Secretary should not be liberty the
poses from the Bank. at his will and peasure
amendment, proposed by Mr. w was to give the Bank
right to bring suit in the Courts Of the United States
This was thought TO be of importance, and expert
ence has proved that there was mistake in that OPT
non The general object Of all these amendments was TO
insure on hand, the full performance of all its duties
oy The Bank and on the other, to give the Bank itself
security for all its rights that respectable and substan
a men might be willing to take the stock, aud become
interested in the corporation.
There remained one other amendments which was at.
tempted without success and that was, leave al
together the Directors to be appointed by the President
NO precedent Tor such appointment Of Directors had
listed in the former Bank and easy argue them
as he thought IL was easy TO perceive now that, while
they were not likely 10 do much good, they might
improbably do some harm. He had placed good deal
OF weight this objection perhaps than il de-
served, butt with other friends he insisted omission
OF this provision. But other friends, again. willing
to take the bill stood, after the had
been Effected and became law by the aid of their
votes Throughout the whole Of these discussions
supported the policy Of establishing Bank, on the
model OF The FIRST Bank and had constantly the
of national Institution of that kind In
as well as All that the gentleman from Georgia
(Mr Forsyth had now stated as having been remarked
by him. was true and just he presumed, applied the
bill, IN the state in which 1t actually when the re-
marks were made. He had heard nothing quoted, and
remembered nohing at all inconsistent with auy opinions
entertained
He asked pardon for having occupied even so short
time in referring TO subjects Immediately connected
WIN the present great question, TO which he would
! return.
The gentlemen asks, said Mr. W., what could be done
II This House should pass bill, renewing the Bank char
ter, and the other House should rejec, IT, Sir all can
say to this, il, that the question would then be one be.
tween that other House and the People. speak, sir, of
ha honorable Honse with the respect Of This. eli
Their Is likely TO be found acting for long time, such
question as this against the clear and nse
Of the country Depend upon it, sir depend upon it, this
experiment succeed 1t will iai-t has tailed
| it complete failure already.
Something, then, is 10 be done, and what is il? Con.
gress csnno, ADJOURN leaving the country in its present
condition. This is certain. Each House, then, as |
thns, VIII be obliged TO propose something TO con-
cur In something Public opinion will require il. Sir,
negative settle nothing II either House should vote
against Bank to-day nothing would be determined bv IT,
except for the moment. The proposition ould be rene
edo something else proposed The great lies
ginning that the country viii! be quoted and settled if
House. even bo,h should pass approving the con.
d T o the Secretary in removing the public deposies
causes exist, not in meus opinions but in mems affairs
| IL is not question OF iheorec right or wrong, but
question OF deep suffering and Of necessary relief No
voies no decisions, still less any Debates in Congress
will restore the country to its former condition, chou
The nerposifion and aid Of positive measure of
relief. Such will be proposes; il will | trust
pass this House Should it be rejected conse.
duences will not lie al our door, But have the most n
lire belief that from absolute necessity, aud from the i'm
perative dictate OF the public WILL proper must
pass, and will pass, into the form OF law.
The honorable gentleman, like Others always takes IL
poiDf, that the People
ted States have decided that the present Bank shall not
be renewed. l believe such thing. see no evidence
Of any such decision. u Is eay assume oil this The
Secretary assumed t., and gentlemen follow his example
and assume IL themselves Sir, think the lapse OF lie
months will the mistake both of The Secretary
| and of The gentleman
The honorable member has suggested another idea cal
culated, perhaps TO produce momentsry impression:
II has been urged in other quarters and is that il the
Bank charter be renewed now, will necessarily become
perpetual Sir, II the gentleman only means, that il we
now consider the necessity or utility Of National Bank
we must always Tor similar reasons, have
say, with frahkness, that in MY opinion until great
change OF circumstances shall take place, national in
he desires 10 produce belief, that a renewal of lis
charter now would make this Bank perpetual under lie
present form, under any form, do all concur in
his opuion Sir, nobody proposes TO The Bank
cept for limited period. AT the expiration Of that period
II will be IN the power OF Congress, just fully as IL il
now, TO continue its charter still further or 10 anne nd II,
or 10 LET IL altogether expire. Aud what harm or dan.
ger is there in ihs The charter Of the Bank OF Eng
land, always granted for limited periods has been a.
ten renewed, with various conditions aud alterations
| aud he's existed, I think, under these renewals.
nearly hundred and fifty years. lis last term Of wears
was about expiring recently, and the Reform Parliament
have seen no wiser way Of proceeding. Than
into such amendments as experience had shown neces.
ssfy, and TO give lease And this, appears 10
me, precisely The which the interest ofte peo
pie Of The United States requires in regard 10 our own
Bank The danger Of perpeuiiy Is wholly uniounded
and all alarm, that score, is but false alarm The
Bank, IL renewed, will be as much subject 10 The will
and pleasure OF Congress, Bank with similar
charter; and will possess more claim than new one
| Tor further continuance hereafter
TI.a hon ~. ,.,ofco ".