Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-27

him a., r ~ 70 your banker; that you propose sell
wneh passed 10 credit his books that he sends
sno ofa 10 England and sells it at small discount:
ana lew days before it becomes payable YOUR factor
isis; the DRAFT is paid by the agent of your banker will
'ne money he got for IT, and protested against YOU and
ing $4,000 oyou, for the non ment by YOUR factor
your representing TO him the hardship Of the case
WonI no, Una. The law allows i. and you pay it,
our nave given you my business for more than sixteen
ears there has always been large in Your hands
cs' anu think hard and that Won sbonId
have SUSANNA ns ia am willing pay all the damages you
mus, pay II; but we will now close our business snd =
WIN employ some other banker. anu
p n 70 me candor OF every who hears me- wbe.
e he would not take away his business from any bank.
or VINO would make such demand OF him There can
oe oui one answer The gentleman from Pennsvlvsnia
mas ,oid U.S. The thing which passes his comprebenon
s' that mere claim by tho bank-a claim wi,hon, .,
or Other act-a claim which is the privilege of the low
Gs ana poorest make upon the highest and riches, ia
o 'a"u' "phout mourning either forfeiture or damage
a. .s should be gravey put forth brand of faith
nnbc upon .hs bank and forfeiture of her right the
Is not mere cidi,n The bank has not only made the
claim; she has held on to the $I5s,OOO.
nn SIR admitting that the Bank OF the U. States is
enurey SALE aud has never failed to pay or transfer anv
money when requiredand il is but Justice to her 10 saw
a ,"'y believe and truly admit i-and admitting what Is
not 'rue, and which l have endeavored TO show ia
not true that the bank has acted perfectly correct and
mas never been guilty Of am clearly
periecting some other system of finance a sunnI III
place OF The which has been practised ,brobb ,h
medium oil the Bank Of the u. S.
ne eharer oil the bank will expire in 1886, and she
can no longer perform these services. The gentleman
from pennsylvania has told that the State banks cam
not discharge the functions of fiscal agents. that thew
cannot distribute aud transfer the revenue tho
1hon as The same viii be wanted by the United States
40 not agree with him; but if the matter be doubtful IL
Is time the experiment made, There Arc many ON
ms noo and am OF a,m, Who cannot consent TO
vote Tor charter of Bank 81 the United S,a,s while
NJ
vehience or exPediency avail Il is mnor,.n, that
.ne experiment should be made And we nd tba G, tie
hs cannon supply the place OF an ecient fiscal agen
amendment oil the Constitution must be made and
eessy OF the thing may reconce us to the measure w.
ar hat me present charter will expire in two
years. win perfect confidence that the charter will, .
DC renewedin that tme with a certainty On ~ W.T. not
some ana oil doubt with others, the Gin
oa'e bahKs tits not the duty of prudent
vde by wise foresight and timely action for The isp
ues winch are before us! VIII not skiIfuI pot AMI ~
uent mariner regard the approaching tempest and rim tic
sans 10 Inc coming storm And shall those who are
at the helm OF Stale stand idle and unconcsrM Paee9
resauess oil the iu'ue, and make preparation Tor the
which aw ait u.s. and the dangers which
Ana where shall we find fiscal agent which can su
Ply me place. perform the services and discharge The
duues which have been heretofore done bv the Rant 1
the United States The answer TO This ones a; y.
me 70 Tie amendment which have submitted IN bs o
s sue az OF me House Mr. Speaker, we have been
tod oy the gentleman from Pennsylvania and bave M
doubt There are others who believe So that the Sta,e
banks Will not be able efficiently to perform all the SER
wees required, and TO render the NECESSARY fac;,;.
10 the Government. and the community i'm the coao,;o
ana distribution OF the revenue believe those CO.
u W are mistaken The capital will still remain
Ia me country whether in Bank of the United S,a,n,
or In The State Banks; and the same accom- moda;ons 49,
De extended 10 the commercial community by one Raw
dum by which the u S. Bank has changed her funds from
one section OF the Union another to inc ct the vice.;
Ges Oh me United States This can be done by the State
DAMS. II Is now done every day, in every commercial
city, by those banks, for the convenience oil the
nIy; and IL VIII be only necessary to extend it commen
surate win the wants OF the Government The sana
means oil information which enabled the u s RanL r.,
know where 10 contract aud where extend her
whence TO draw her funds and where 10 transm;, ,h
VIII DC equay open TO the directors of the State Banks
All The banking and commercial talents do not belong In
the Bank oil the u S. and they did, when that expires
hey VIII be transferred TO the State institutions
We have been also told by the gentleman from Penn
syivana, that the State Banks have made te ofe,n, I
nave nav, aeo and mat they will again fail whenever they
sha make the experiment, and the country will be food
ed with deprecated paper and with der,nged
currency. sir would be unfair and unwise 10 arsue
from The attempt which was made in ISI4-I5 The al
uauon OF the State Banks is widely different from what IL
was then. The U. States were struggling thouoh on
tedious, and expensive war; into which she had n,wns
ed without preparation which she continued for some
years. without additional taxes, till she had almost en-
haused her credit During this long and expensive war
she had resort TO the Stale Banks they were
TO issue notes. moi on their capital their credit 10 sun
ply the wants OF the Government. While the war lasted
,e credit oil me banks and OF the sustained by
VIC Pa'ionc eehhgs oil The people; when it ended the
smuant was gone the excitement was over and svocona
ensned The bills became depre ciaed, were return
ed IN large numbers 10 The bank The inevitable con-
sequence was, an inability TO redeem them with sns
Gle. And viii any man pretend this would not have
been the situation OF the United States Bank DE-
pend upon 1t, sir, If the Bank OF the United States
hau been IN existence at that time, and had suoued
ihe wants OF the Government, she would have been no
better able TO redeem her notes. The condition of tho
State banks now is very dferen they are In strong and
healthy state their bills in good credit pass cur1ent
~, and are redeemed with specie, demand They arc
generally under wise and prudent management and am
ply able TO comply with their engage ents As well
might you Judge now what they To do from
what they were unable 70 do then, you would be COM
peen 10 determine that of robust and yjporous
health was unable 10 perform feat of strength and
failed just after long and dangerous paroxysm of fever
and before he had recovered from debHaDg and para
Lying effects.
The gentleman from South Carolina has denictsd Il,
glowing and animated language the dangers of the union
OF Tue oDeyed interest OF the country and the
oil The Executive, and has told u.s. IL he had the
control IL, the Bank Of The u s. should always be
with him. and The very object Of the 10 oarJ
against hc dangers OF such union We need not bs
told oil the control which the Executive would have
over all The State Banks If he has the "a,
powof OF placing the public deposes in what banks
ne pease upon what terms he peases and as long as be
pieases we need not be told that such an unholy and
meretTiclOus union would be riuls than b
baneiul Influence OF the Bohun Upas-more Destructive
than The desolating blast Of the Sifnoom In these halls
where The voice OF liberty is raised, aud the vesta flame
oil freedom IS continually burning affairs will be raised
and sweet incense burnt 10 the spirit OF money and the
spirit of despotism.
Sir has that gentleman thought this me retricious
union gbt be formed between the Bank of the United
States and the President OF the United States. Has hs
supposed That, but for the fortunate difficulties be
tween the present Executive and the bank there might
I Hp at