Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-15

charging commissions or claiming allow on account
of difference of exehargetha It has failed to DO and
perform the several and respective duties the conmis
soners OF loans tor the several Stotes-in word. that
has failed to do and perform, the agency which has
contracted 10 DO and TO perform for the Government Aud
now, sir, what are the reasons OF the Secretary
has laid before us,
LIST, Tha! the charter will certainly expire tho 81
oil March, 1886.
End That the Bank, by contracting aud expanding its
credit has cndeavored to force renewal OF its charter
by bringing distress upon the money market
cent stock. Aud
4h. The claim for damages the French bill.
Sir, consider none OF these reasons il true, as suii
Gent Tor the removal OF the deposes, but shall not
stop to discuss them consider tina, the Bank has done
no'bng Illegal or wrong In relation TO the Per cent
SOCKS inc FRENCH oil, or the curang its discounts
either OF The reasons which tho Secretary gives Is
good financial reason, is that OF the Bank extending
and cuta''ng Its loans with view force re-chaTer,
by creating pressure and panic. But for the life OF me,
canno see that the Bank commits BREACH either OF law
or oil good iaiih good morals, in granting refusing
lend its money II its policy and its procure
renewal Of its corporate existence, il it can, by legal
and iighul me ans; and put it to myself, il were
director oil that institution, ii or any would not
sluer 10 be duty, SUCH to demonstrate, e
gal way The utility and necessity OF such institution
the wants OF the people and the government In relation
10 the per cent Stocks csnddy confess that, in my
opinion, the Bank has in this instance, In various 9TH
es subserved the purposes the better than
the Government could have served itself And venture
TO say that the Bank the Government for
the damages the protest Of the French Bill before any
judge, Federal State, deserving TO be called lawyer
II would obtain Judgment and verdict before any impair.
ial jury OF the country. cannot condemn the institution
then, for acts which strictly legal and morally Just
ne o'her reasons OF the Secretary are such pertain
rather to dnnung the charter for violations OF il by the
Bank than TO the rem0rdt Of the dcposites. Although
the safety oil the dsposi'es is not involved in the question
oil sotcency alone, aud although sufficient 10 an
the charter would seem ga toror TO he sufficient for the
removal The deposies; yet think that reasons for the
,emeral should always involve before Congress- the safe
~ oil the public funds, and that 0anulimg the
charter should always in justice be tried by judicial
cal body is-and ihat I'M decision by rbuns, Of that
Sort the depostes should continue TO be made in the
United States Bank, upon the principle that a corpora.
ton. as well as every individual should be presum-
ed innocent until legally proved guilty. And how are
TO ascertain and 10 determine that the violations
Of the charter charged upon the Bank have been
wi,hou, assuming judicial functions which belong Of S,
to court OF law! The charter sir provides two
different modes OF proceeding against the Bank viola
hons oil It's charter may be sued prosecuted by in
dviduals in Qui tam" actions recover penalties for
certain specific breaches of charter under the 18th and
18th sections; il may be sued for damages under the
17tl section And Congress the President NAV under
the 23d secon order and direct scire faci1s 10 be issued
out OF the Circuit Court Of the district OF Pennsylvania
IN the name oil the United States, calling the corpora
ton 10 show wherefore the charter shall not be de
claed forfeited And every issue fact shall be tried by
ajuy with the right Of appeal by writ OF error TO the
Supreme Court OF the United States So far, then, as
uioati0ns the charter alleged as reasons for The re-
mova the Bank fairly entitled by the la and the contract
TO trial before court OF law by impartial Jury of the
country And we cannot these violations be true
orpopery receive proof Of their TRUTH ci uie,o to ry
And II these courts adudge the violations TO have been
committed, the charter will be forfeited without coming
before us Tor decision; and they deQut the Bank Con-
gress has the power OF the fact and of
reversing their decision, appellate tribunal there.
fore shall vote for the resolution OF the gentleman from
south Carolina But, sir though have Ultimate
ly the power to try the Bank for violations its
yet, with view TO issuing sce Jdcias under the law
Congress has, and has the President the power IN in
stute investigation OF conduct and its concerns
And am willing for an Investigation to be made not only
with view to the inquiry whether sere fdcids should
he sIpHa aInetf The Rank h,,S, so(u.z
ton OF re-chdrter, which is shortly arise. Sir am
undisgusedy and decidedly a friend TO the consi.
I.l0na power Of Congress to incorporate Bank of
The United States on proper principles and am more
than convinced that such institution properIv or
ganized absolutely necessary conduct not ony the
commercial operations OF the people, but the financial
operations of the Government. And there is no sub.
lection which differ more widely with the Presi-
ueni ana WIN The Secretary, than this important
ject Tor one, did think that the President would
sanction snch charter as be made coDgenal TO- and
sions, when using my powers 10 re elect him
confidently declared this belief many of the peopIe
whom represent And am convinced, more than
ever that you destroy the highly Objectionable
charter which we now have, without substituting a
better in its place, the currency will be ireparably de.
ranged and bitter experience will thrice teach us the
evils that will inevitably foow.-With vie fore of
again allowing gentlemen who opposed 10 Bank of
any kind the fullest opportunity Of exposing the mscon
duct oil this institution il any be shown desire
committee 10 be appointed, or the ommtee OF " avs
and Means 10 be vested with the power Of sending for
persons and papers, with view anticipate and remedy
all detects in new a modified charter. The whole
House, or the Committee OF The Whole, is too blunt
probe. do not Mr. Speaker call for another such Quxoc
committee as that which, during the last session. rode,
Sanchoke, all the way from Washington 10 Pbiiadepha
TO make t at squire BiddIes breeches poe kets-but
committee OF Congress, sir, who having specific charges
for their data, will sit down here, sir COMMITTEES OF
Congress should, and send for squire Bddle TO come 10
them from Philadelphia, with his arithmetic and his &.
CURES.
have now Mr. Speaker honestly, and indie pdent of
all party considerations given my real views oil this great
question. believe that the remov al of the depoes as
a from sres
has hurried upon in day, whereof the evil is sui
cien', both panic and pressure; and cacua
ed 10 defeat the charter OF the Bank il will tend moro
than any other could have tended to defeat its own
OBJECT III was act most impotic unwise i'm
ence TO its ends. With these views then unless
on further examination, shall for the depose of
the moneys OF the United States be made for The future
in the Bank Of the United States its branches where
established
Does any ask if am still friend of this adj
minsraiior In The words Of Nimrod WiIdire answer
-"nOst distinctly"
do STILL and desire the glory and honor and
glory and honor and of administrator onlv az
devouy and ardently desire the glory and honor and
prosperity oil my country. And when differ with any
administration as 10 what coBduces TO the prosperity of
my country and the preservation Of its blessings and Ii
berty,I will not condescend 10 say that shall speak
out boldly Sir, as the two hundred and eighty
traction even oil coordinate branch Of the government
feel myself independent Of, uDinfuenced by and
check upon, The Executive? As a reDresenfafipe of a
portion OF those who soveregDs the President and
myself both, shall first maintain their principles and
my own have freely and honestly supported thi, adj
insrdtioD aud mean freely and silly TO differ from
1t when constrained by MY Of right and nv iudq
al heIia