Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-05-27

Directors the Bank ., every step OF the inquiry aud the
various communications received from the directors aud
their committee xej 10 this report viii fully corrobo-
rate this statement.
Having failed mpish the object Of procuring the
books OF the Bsuk for Inspection, at their committee roo
your committee ieit IL TO be their duty TO demand their
Submission Tor that the Bank, OF the Pr. sient
aud Cashier OF the Bank, the usual and general
the cofpoi alton. For that purpose the 9th day OF
May having sppred the committee OF directors OF teir
Intention, o'clock they repaired to the Bank, sud
then required the President and Cashier cac, OF them
especu,ely, produce certain oil the books OF the Bank
Tor pection ct the Con,mittes. his refused BY
each doe officers for reasons stated in wiling and to
he found IN the srrendix TO this rerori
In this retu.s your committee believe there sub
s'ant's Violation OF the Bank charter, aud contempt
aga,n-, the an bo,i,y Of the House committed.
Ihey are oiepni"n, 'hst your committee were under
ohgs OF right recognise any agent the Bank
other than those generally know SUCH and make their
duty AMI right 10 inspect the books depend the
usuce or caprice OF such depuistion.
such he The TACT. then The examinations siihe Bank
WILL in cases. drp nd the disposition Directors
| 10 have tl.i procs e,iings examined.
Having been thus denied. by the officers of the Bank,
aud having been informed by the Directors, that they
were not o having declined to furnish Tor
the exclusive oil the committees your committee, sin
cerely DESTROYS the wishes aud directions
hous-, believed il be their duty SEEK auoher inter
view with the Committee OF Directors, aud by arrange
inen' the OF the Board the Bank OH
7h day OF May, an hou, fixed by themselves
Your committee then aud there in writing, rqnired of
the Comn.i'tte Of the Board, produce commit
tee, Tor Inspections certain books aud papers the Bank
TO enable your committee TO inquire into the truth OF
presentations made by tile Government Directors the
President oil the Uunrd States and to Congress; aud
whether Board Of had violated the
charter OF The Bank by authorizing the exercise OF
% ny ,h, committees or officers aud whether the
" Po"u'''g "e present pressure, or has used it's po
rac power or money 10 control the 10 interfere i'm
politics, or influence elections. "
Without giving specific these calls Tor Looks
anu papers, TIC Committee OF Directors presented M
ten communications which said 10 ba "iudicative of
NE mode oil proceeding deemed right by the Bank
he committee OF the Boaid in that commune ion ex
press 'he opinion that the inquiry only rghiully
extended to alleged violations charter aud DEW vir
,n"iiy the Ugh, Of the House OF Representatives to au
horze The inquiries required in HE resolution
They also required oil the Committee of live stip ,tion
hey asked Tor books aud papers, specified
~ in Writing. the purposes ic they are p,onose d,
he Inspected; aud il il be 10 establish yiolson of The
enaier 'en TO stare specifically in wiring what are the
alleged or supposed violations charter 10 which the evil
dehce rs alleged TO be applicable"
10 this extraordinary requirement. made on the su.po
suon ma your committee charged with the tuiy of
crimnaon or prosecution for criminal offence and iply
ng rght on The part oil The Directors determine for
what purposes the inspection should be made and what
oooSs or papers should be submitted Inspections your
committee replied that they were net charged with A. a
uuy OF eliminating the Bank its Directors or ohers; blu,
SIMPLY 10 Iquite amogs other things whether any p,o
secuon in legal orn should be instituted and from ma.
nature OF their duties and the instructions OF the House
OF eseniaives they were bound ate specih-
cary IN wiring any cbages against The Bank, or any
special purpose for which they The nj
] The books and papers Tor Inspection.
been sde. ' "-'''" IA"
| The Committee Of the Board, after debera,ion. made
communication to your commtier in writing in which
| Oiutin
aud refused TO submit the books and papers az he Ri
required by your committee to be produced Tor their in.
speciion.
these calls were made in the Bans aud in the presence
oil The Committee Of the Board and then and the re- com
phahee WIN them was refused. Not feeling authorized
10 regard this xpeced aud quyoca as tic
act Of the Board OF Directors your committee submitted
'be proceedings oil their committee the Board and they
were by the Board 'luly approved and sanc,ionedn
In 'his act oil refusal which nothing that had occurred
bad prepared them anticipate YOUR committee are If
Op''o n"t me ehar'er OF The Bank was violated and
contempt OF The authority OF the House OF
committed.
Your committee, acting under the instructions of the
House oil Representatives, without power TO modify or
e"se 'heh' charged TO inquire, aud authorised 10
accuse or 10 arraign except report TO the House
se ai'neu WIN hnt the limited authority OF committee
unauthorized 10 punish, 10 tbs
conclusion, that in The face Of the de-
'sen 'hey could nc, efficiently prosecute the inquiries
WIZ; which they charged without the aid of ,,c
p lower OF the House of Representative
ANXIOUS however, TO perisrn their duly without com
p 20 inc rouse ana In conformity with the proce
oil 'he committee OF Investigation 1919 and 1892
committee called on e Bank in series OF solutions IN
furnish statements, and certain extracts aud copies from
heir books and papers, which, opinion OF your com
nit ee, were all intimately come ccd with brir iu,as
and many OF them indispensable 10 the Hous. of
your committee obtain.
me rst oithese was responded by the Committee of
- @ ana me Information furnished Though useful
u was comparatively unimporaut
ne BOARD OF Directors, after deliberations refused TO
soinpy WIN The other calls, for which will be
'ouhd IN their resolution ia the Appendix and which
reasons deserve examination as msniie.ne The deliberate
purpose oil the Directors 10 resist all attempts to examine
INTO The proceedings OF the corporation an The ,,ins r
CURED by your resolution.
iby say that the Board OF Directors do no, feel them
sves az hpeity 10 comply with the requirement of The
Committee OF Investigation because "part of The CO.
PIES c'ieu Tor reate 10 matters over which the Board
have control" ~ '"0 Do'i"
ms reason, 1t is plain, cannot have had much weight
w producing tho decison of the Board II only na, of
me information desired beyond the centred Of Inc
noafu, mar i'ct could have been stated this commit
zee would have cheeriully received the residue
~. me Doafd say, They coutply becauee n
would be Impossible for them "wiIhn any resson
aoie ime having ascefained by careful examination
s me copies aud statements called for by the resolutions
OF he ZSia uimo alone would require the
labor oil two clerks for at least ten months
MS reason II is also fair presume could not have
materially influenced the decision OF the Board IT, in
ruin an entire compliance with all the resolutions would
great labor, sill that did justify refusal to
comply WIN any OF them Besides The whole oIec
non could have been obviaed by The employment of more
eefks tan two, the compensation whom If paid eber
ny 'bc Bank or this committee, would have been well
expended in gratifying the requirement of the House of
Representatives 1880 "
81. The Board say they cannoi "romply inasmucb "a
rspec' 10 part OF the papers called for the effect woulJ
W rue same as the surrender OF their books papers 10
hsecrPi ana er-pdTfe examination
no can read this last reason ior refusing eiven bv M
directors, aud fail TO perceive that Ibis committee ne
uncd ~ declaring, that without the aid of nm
oeSS ney cannon obey the directions Of the House If
rom Their own books, made by their own clerks
WI MOI be furnished because they might be used 10 CON
a Po'fe examination, what benefit could this COM
eNPect 10 derive by access the books themselves,
Permission 10 take extracts Tor Themselves could snd
probably would be denied for the same reasons: and
committee OF The House, without power TO compel obedi-
ehce 10 ITS demands would have power TO make no Use f