Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-16

"'ou'c I'd the continuation of this unconstitution-
a, ana tremendous institution. The Bank Inns NO
claim TO the deposites THE publ;c inh 10 ~ -.
pledged by the charter. We n,,t on, nj an. o,'ss
t,on' therefore, what is due to the Bank-We look
do nor ho H gIS a, Interests Of the peopcand
wrong to them, in the first instance this yron, nav
be expated by infiicting more serious evil On Tho
great body Of the people. o'' "'o
ms View OF the Question is exhibited in very
strong terms in the following extract from the Mi.
!edgeville Recorder Of the 9th inst-a PAPER Which,
Is devoted TO the Rights Of the States almost 10 tho
very verge Of Notification. 1t is unqnestjonabl,r
very hostile to the administration of Cen Jnckson
ibis subject, we think. presents a variety of point,
s Tue decision OF Congress- or at all Of the peo-
"First-Eas the President usurped the power of Con.
gess' mud acted in this matter So let him re-
ce've that censure OF Congress Of the counrv which
the act demands. For ourselves have no doubt aiont
the matter The Is simply thi.-Conrress confsrr.S
upon the Secretary Of the Treasury, the power which
ney ana not think proper themselves to exercise, viz to
s. Bank, using his discretion as to tie G
such removal This Is special and precise grant of now
e made by Congress- and to the Secretary of the rea
sury alone Such power was no more conferred bv Con-
Eess on the President. than II the Secretary Of
ia H. under such circumstances. the President wrests
' trust from the Secretary Of the TREASURY
no matter by what he So he has not only
Gu power put such one Congress seemed signed
y TO have withheld from him. With such views we de-
cldedy dsapprove OF the Presidents course aud have ill.,
e doubt but such must DO the opinion Of the unpreiu
But because disspprove OF the course of the pro-
sden II by no means follows that we should desire t.
see the depostes returned TO the Bank Of the u States
we are opposed 10 this institution because we believe ts
charer 10 be UNCONSTITUTIONAL in the first place and he
cause we are opposed to such Of power In
to be inconsisen,o hold the latter and vet desire
promote that very evil by accommodating the verv poyvsr
drawn from IL. IL the u s. Bank Is not to be
and surplus revenue is to accumulate, we would ALL
what Is 10 be done with the surplus Surely the repub
cah party Will never agree to make mere change of
names, while the whole evil remains bv au,boy;n
another N atonal Bank, by what however called
what then Is to become of the revenue deoositee W.
can see other alternative but to pace ibem a. -
were before the charter Of the u g. Bank in the drent
Banks Of the States That there evils attending this
system we are we'll aware; we can see mo other
way out TO put up with the least evil Upon this nont
them we should hope that Congress would authorize the
continuance OF the deposites in the State Bank ,nder fs
oton peculiar direction and yeuie,p. 10
"And above ALL would desire-seeing that ,hsra T..
Ioslon OF opinion IN this matter, between the President
ana Congress-the President thinking one way and Con-
gess another. that tile principle may be finally and con-
settled; whenever the money the people the
| control it," ' es' anu
The Milledgevile Journal of The same date. false
dedicated to the State Rights Party of Georgia.A
| holds forth the following language: o"
"Mr. McDuthe. in the house, abandons the idea of
their restoration TO the Bank and only for such
pubic moneys as may hereafter be received by the Co.
vernment On moving instructions TO the committee to
that ehect he made most acrimonious speech of two
or three columns, which Of course is praised to the skies
oy the Bank people, II certainly the deep and en-
cited feeling that prevails upon that subject feeling
winch i,sel demonstrates nothing else did, the trench.
uous hhuence that nine bank directors shut up i'm their
closet can exert upon the deslnes Of this nation f that
institution had heretofore been administered by angels il
ougn not longer to exist, unless indeed could continue
IN their hands And although II will never do for The
State banks to be the permanent repositories; for this
wooa IN me end make them mere Presidential automata
ye" we nad 10 choose between these modes of mis-
rule. that is. by President, who can in some way be
reached by the people, or by the despom Of some ten
or dozen bank directors. sitting in concave enrenched
behind their charter holding their Office of
The people, and exercising in secret certainly should
prefer The former"
We must not yield foot to. the Bank itselc-or II
may again ride rough-shod over the Constitution of
tue country, and the Liberties of the People.-We
therefore cordially concur in the following sem-
ments OF the Culpeper Gazette
We call upon the friends of the ra,ion-upon
me friends oil State rights-upoR those devoted 10 self
Government-upon the general and sovereign peopeto
stand firm amid the panic and the strife which ha R.n
ahd It's friends aud myrmidons, attempting to excite
throughout the land The Bank, like the whale, is most
IN the dying struggle, and the people have onIv
10 be cool and firm, and the storm now excited bv he
Bank will be hushed forever" ~
THE PRESSURE.
Inc following letter is from man of talents and
llgh character i'm the city of .Ne,o York-It shows
| us the game which the Bank is pIaying-Tbe yvr;.
ter is not enlisted in the cause of Mr. Van Buren
:. H.. -. New YsRx, January s, 1884.
h.an DeaT Sv,-The efforts which have recently
ocen maze 10 counteract the movements Of the Bank
press, and prevent any thing like panic in the oonew
MARKET mas been in some measure successful The mar
M an
hings however, remain the same. The cause If ,ha
pressure Is not and will be removeda least mt n,;l
aer the political fight shall have got through with
Inc game Is entirely political: the Bauk Is bnt an
d nrnxhary: the Deposes are, in themselves nothing
he removal has, its believed exposed the administra
non I'D sucn manner as to open ground for successful
attack "The Constitution has been yioatedI Tie Cur
rency oil the country dersnged, the country itself
GVen 10 the verge OF ruiD This Uar cru of the
Bank party And TO give this weight and influence nres
sure must be made by the Bank upon the money market
has been made, and will be kept up as long az shall
| be thought necessary. - - " ~
How far the Bank dare, or can push the matter ia
Ses 10 oe seen Too many turns Of the will make
enemies OF friendsoo feso will do no good "a, thew
Tx upon the true pontl think no,-they will fail 81
ther way We shall get in short time adapted IN s,s,
OF pressure-business will accommodate itself TO H.
"FirInness and decision in the House of Rrnres.n,,
ives can alone put an end 10 the matter. Nothing else
can DE OF any avail You may preach reason self
interest, policy patriotism to the Bank , doomsdav
give relief to the market. He is consider one Of
COMPANY and must consult his partners before he can
| act. 800 'O'' 10 ca"
The tailures as yet, nohiBg-no felt in the inte
ress or business OF the city, But cannot disguise INV
ears st Inc pressure may extend further, and more
severe 'han we have yet felt H.. One extensive heavy
house. would In its fall crush little ones The Branci
increase that sum to 100000 (f the local Banks will
stand their hands) and then they can NAV The ev ..
LET II alone, just as they please. "
" The local Banks, lin This Ciy at least have Tina IA,
done nobly They have acted wisely, pr,denIv boldly
iney nave kept The MARBLE PALACE in check and
po,ee'eu we mercantile community. Nine -enths of the
BROKERS are in favour OF the Bank The Bank loans On
US o,on Stock TO any amount. That fact NAV account
lor H. violent party men, too whether merchants or
not seem 10 be willing sacrifice their o,yn into