Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-29

-. - N''O WV tPVsttS " " NofbR .
u would prO,ec, the debtors Of the government from that
oppression prae,ised by the Bank, which would have end
ca IN ihef bankruptcy, and have defeated the payment Of
the. bonds already in possession of the Bank for cole ction.
! contend, also, that the Bank violated the spi,i, of tho
9h fundamental rule, contsined IN the l1,h section OF its
charter, which is in these words " The said corporation
" shall not directly or indirectly, deal or trade in any thing,
" except bills Of exchange, gold or silver bullion, or in the
" sale oil goods, really and truly pledged, for money lent,
" and not redeemed in due time" SC.
The Bank Is charged with having iDterlered in cleo
uons' ana with having used its corporate funds, tor the
sake oil ~deiraying the expenses of publications intended 10
inhuence public opinion. The Bank admits il has eXpend-
ed various sums to protect itself against, unfounded accu-
sa'ions' and TO eniighten public opinion as 10 the nature
aud operations OF the Bank. BY looking into the Bank
statements II will be found, that before the present Chief
magistrate came into office, the expense account Tor print
ing' was only a few hundred dollars per annum. In the
two years, 1881 and 1882, the expense account Tor "speecbi
es IN Congress, and other miscellaneous publications" was
upwards OF forty one thousand dollars. In the last Of these
years, was the presidential election. There can be no mis-
take as to facts in this case they are shown, and openly
admitted by the Bank. The justification 1t sets up is, that
" was attacked by the President, and IL had a right TO de-
fend ITSELF The resolutions of the Board show, that the
Directors authorized the President OF the Bank TO expend
money without limitation, for such purpose. Now | am
willing to admit that a corporation may defend itself, by
publishing a contradiction, or giving an exploration Of any
charge 'Aaie against it by any person whatever: but there
i say II must stop. IL has no right, by any expenditure
OF its corporate funds, to %enighten, or regulate public Opt
mon, on the science OF banking.
How does the Bank say the President attacked il! In
his different messages TO Congress. These communion ions
1t was his duty TO make if they contained his sentiments,
and he believed it for the public interest that these opinions
should be made known TO the national legislature; and
against such communications, the corporation had no right
to make publications, or cause them TO be made by others.
Ii the Bank is useful 10 the public; il its operations are
beneficial to the community, that community and its public
agents will advocate its utility. The individuals composing
the Corporation, have the rights, and are allowed the same
powers, through the press or by other means, TO defend
their interests, that other individuals have, but they have
not the additional light, to use their corporate funds for
the same purposes. THIS would give the corporation such
AN advantage over individuals, as to bear them down, by
the mere force OF money. The corporation has no right 10
use a dollar Sr any purpose not specified III the chatter, or
nRcP 90 In Uiun nH..ft IN cnn,o ,rpno nartEad Nh
matters in which the corporation may trade, or deal, are
specified. All others are forbidden. 1t has no right TO
deaiin speeches" in addresses 10 State Legislatures, or
in "miscellaneous publications." IT. has a right to erpend
money in purchasing them, il has a right to make money
by selling them. Why not set up a bookstorei The prin-
ciple Is the same. Nay, worse. The real object is, TO
trade in public opinion. Not TO buy s'golden opinions"
but to procure opinions by the use OF gold.
Honorable Senators who argue on the other side, say
the Bank can have no influence In elections, that there is
a prejudice against moneyed institutions, and that, in a
canvass, they would rather have the Bank against, than
Tor them. ! think very differently. a Bank can, and of
ten has, a controlling influence, and Ihelmore dangerous,
because 1t is often unseen5 and II ever i should be engaged
in a contest for popular favor, | would feel much more
safe with The friendship, than With The enmiiy of the Bank
The Honorable Senator from Georgia, who has so ably,
and so eloquently sustained the course OF The Adminisua-
tionythinks the Bans can never influence public opinion,
and adduces the result OF the last Presidential election, as
a proof of the correctness OF this opinion. Mr.. President,
| admit the Bank did interfere in the last election for
PresideDj that ii spared no pains or expense, to influence
the pubic ophiion against the present Chief Magistrate,
and ! admit he was elected by an overwhelming majority;
but deny that This was any proof that the Bank has no
influence, on ordinary occasions, where men OF common
standing, and ordinary services, are competitors. The
popularity OF the successful candidate, is not of the ordi-
nary kinl-t does not rest on the common foundaiion-
His public services comemnced when he was yet a boy.
AT the close OF the Revolution, he was an Orphan,
without rela ives, but not unknown, or without friends.
His services and his conduct had attracted the attention Of
some. With his manhood commenced a series OF public
services ard employnents, which have been continued
throughout a long lie, and one for usefulness, having
hardly any parallel From these services, the roofs of
his popularity struck deep, and extended far among the
people OF the United States. They were watered by the
sweat Of many tolls; they were strengthened by numerous
and imminent peSils, antA finally, on the plains OF New
Orleans, he was presented in an aspect, and his character
proclaimed TO the world in peals OF thunder, accompanied
by blazes OF lightning, that at the same time a%stonished,
and DIRE W tears oil joy from the eyes OF patriots within these
walls. These services embedded him in the hearts of his
coun'symen, and enthroned him in their affections. They
fixed the conviction in public opinion, that be possessed a
strength OF mind, which the elOquence oil Demostbenes
cannot mislead; an integrity, which the wealth Cre-
sus cannot corrupt, and a brmness, which the daring
holiness Of CaiiHne, cannot indmidate. Tell me not,
then, that the result Of this election is q proof that the
Bank can have no Influence. In this instance, all ages
and SEXES knew amd appreciated the services OF the sue
cessiul candidate. You can hardly find a hoy twelve
years Of age, who cannot tell you something OF them.
But let a canvass commence, in which the Bank feels an
interest,"; let the competitors be men whose characters and
worth, are only known 10 the few public men with whom
they may have been associated, and we may witness a We
ry different result.
through the use Of money, can influence public measures.
Mr.. President, "Money is the root of all evil" Men
uesiTe ", because " anu III pace d every tnlng else.
With IT,, we can decorate our own persons, ADD crafty The
wishes OF our. families. With IT, we can, as we think,
procure alRsost every temporal comfort. While we are
men, il is vain to talk of US as though we were angels.
i can imagine many cases, in which the use OF money
might have a decided influence OH The conduct Of men
esteemed vhtUous and enlightened. have 10 fear of the
influence Of this Bank, because 1t will go, or send others
to buy votes, among the mass OF the people, by giving
FIVE dollars 10 one, ten dollars 10 another, or twenty 10 a
lhifd, No, sir. My apprehensions from its influence arc
OF a different description. Two years ago, this Bank
applied for a renewal of its charter; you IN. King of
Alabsma, in the Chair, aud 1 both opposed it. We
voted aga INST it, aud used our best exeItiODs 10 defeat
IT,. II now seeks a restoration OF the deposites, and an
extensions Of its char or. We came here determined 10
vote against IL, upon all points, and such we believe to be
the sentiments, and wishes, OF those we represent Short
Nv after sur arrival, yea are Informed that yoar crop OF
cotton has fallen lar short Of what you expected, and That
its price Is much lower than you anticipated. You
had contracted a debt, say for ten thousand dollars, which
you had directed yorr manager TO pay from the proceeds
of this crop. He informs you The crop has isied; that your
creditor needs, and must have his money. q beg your par
don for using Your name for my illustration, | will take
my ownO Here am, without any more means than will
sipess Of the public is finished. What is 10 be done |
must borrow II | can, hut from whom Local Banks have
! extended a. hr as they dare 90; | need not apply 10 them.
The United States Bank has means, and could accOmmo-
dale. but 1 think IL will not ;-it knows have done, and
will csntinus 10 do, all ! can to ~disorPoint its wishes. /
make my ease known 10 my ftonds they advise NE TO
appIv TO this Bank :. thstit does no, proceed upon the self
isb and iilberal principles attributed TO IT, ! prepare
NV note, my friends endorse ", and make my appli-
cston. The officers tell me they con spare the mo-
nev very conveniently that hey know the debt would
no Good bot is the loan was made, II might not in
,Lo ssul be an accommodation that the Bank is strUe-
Cling Tor its existence, against all the influence lhe kxe.