Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-01-25

Congress declared to be- the constitution of the Bank
se9afeo Una, me Bank should not directly. or indirect
~ dedf or trade IN any thing except bills of erchang
gold or silUer bullion, in the sale of goods really Gns
truly pledged for money lent, and not redeemed IL, du.
me or goods ,ohch shall be the proceeds of lands
h's Mr. b. said, the charter; for its violation
ey dealing In COIN For the proof of this offence he read
from The volume OF evidence reported by the
ing Committee, in 1882 two statements Obtained from In.
nans sef one containing the detailed annu al OF
shipped to Europe and there the other con,an
were:
Sent to England In gold. si,s7s, 7ss
In bullion, 1864
g. ms silver, 705, 900
Sent 10 France: In gold, 6l4I94
IN bullion, 577;O93
In silver, l.l66,IIl
oo'd al home: Spanish dollars, 45OI42
In crowns, AZ 5t4
In francs, 553,l9S
In American gold s17Si
In British and French gold, 81 ,267
~. In Spanish gold, q o24
her readisg these statements, Mr. b. said II did no,
appear from The report how much premium the Bank had
on The specie exported, but that sold at home
.ne premium was stated at $97,i4O 81 Among the pur.
cnase.s oil ms specie, and payers OF this PREMIUM (he
dn ms remark to apply TO the Spanish dollars) was
the United States! who Mr.. B. was crediby informed
Wa 10 pay per centum 10 the Bank for Span
is aoais or The use Of the Navy Board and that while
s tapestries I'D the Bank were averaging six millions and
!hree quarters for period Of eighteen years He said
o mere was gentleman present, former Secretary
M /" mere was any mistake in bis information
MT. D. paused; Mr.. S. said nothing. Mr. b. resumed:
me evidence Is clear and full, that OF ten mil.
lions OF specie had been sold by the Bank of hch about
ms en'eth part in bullion; the only shape in
which the Back could deal in specie Could anv thin
DC palmer violation OF the charter! adverse TO the
pocy the country! or more Injurious its in
teest.! Yet the lawyers had furnished the Bank with
bubble no, not qubble-a prcvaricaon, TO cover I'M
Hs enormous and fragrant, and persevering breach OF
their charter IL This that foreign coins were bJioni
which IN England true enough but not true in the Uni
ea STATES until British decisions and Bank power shall
enrey overturn the federal constitution; Tor in that con-
If
tue currency OF the United States and as SUCH subjected
ne acton Congress for the regulation OF its value
Du' even his wretched subierfuge does not avail the
Dahk' LOT In the list OF gold sold, home large sum is
aamiued 10 nave been not only American coin but Ame
ean god and In the large quantity abroad and in
account oil which the foreign and home coins are not
dlscrmlnafed, is believed that proper examination
wouiG snow large proportion OF il have been from our
own mines as well as from our own mint. Mr. B. expa-
ua'ea upon the mischief 10 the community in permitting
the Bank OF the United States TO become broker and
snaeer IN hard money The immense capital of the Bank
would enable II to buy and sell nearly all the specie i'm
me country. Ii would enable IL TO monopoze The gold
ana shver OF The nation, not for tho redemption of lis own
the Bank Intended to prohibit such doings il did nrhh;t
u; but what was the prohibition to power above The
raw 10 power stronger than Congress? Ii was no
thing not even cob-web lion The Bank made de-
ron oil the prohibition by the righteousness of its de-
fence! laughed at the silly and impo,en attempt TO re-
strain III did not give itself the trouble to provide Craze
excuse and set to work TO gather up all the gold and sill.
yer IN the Unon and 10 sell off, at home or abroad and
even TO the United States ITSELF for the highest
o soen oo,an The result OF these operations have been
SS1'oZoooI va, admitted TO have been collected from the
SOUTH aud EST by the branch banks in tho.e two
ons Of the Union, and RENTED the mother bank in PHI
iadepha or TO such Atlantic ports SHE directed and
wards OF ten millions admitted 10 have bee sold and
oil away Such the OF the bank: how
much more could be discovered inv
remains 10 be ascetAineJ for late that
enormous errors ia guresor example, the printing ac
cou0-caD be committed by bank in its ports 10 Con
gfes anu The refusal TO permit the Government Direc.
'ors 10 examine The expense account shows that the
imen declared by the President of the Bank in his
animation before the committee in 1882 that epery thing
gone oy he odnk should De distinctly kno,on and apo,o
ca, rs no longer the prevailing sentiment of that ins
, u Inc positive injury done TO the SoUTH and
WEST by abstrsctng much gold silver from them
nu De apparent 10 all; the injury done TO the Atlantic
cnes oy shiPpings so much TO Europe must be sensbiy
eit IN the present crisis when the supersdd,on of the
Quantity sent away, to the quantity now hand in the
BANK, would enable the bank aid instead of opp
The community That The operations of the bank in COLI
and silver must have been ndous and Incredible il
proved by document No 9S session I33I-a2 entitled q
statement oil the amount OF god silver, and mixed bullion
annually RENTED by each branch bank 10 the parent
bank or 10 any other place by her ORDERS from 1877
% ~ e ea winch shows the amount to have been
S4oOOo22 and 20 cents So that the amount
from the South and West, great was was only little
upwards OF one half Of the whole amount Of the bank lew
upon the United States
further violation of the same article
further dealing in prohibited articles MIR. b. said wa,
now TO claim The attention Of the Senate; and one of
knd that would hardly be expected from the promine
inhabitants OF city, whose beautiful Greek name Philo
ddeiPhos9 imports such fraerna affection TO the human
races and from corporate body, Of whose me mbe,
have SO largely figured in the Societies which The French
call Les inns des Noirs, Friends of the BIscks)
was the offence OF holding, and dealing in sIsyes He
Mr. b., had heard OF this circumstance some years ago
during an excursion through the Southern States and "a
ascertain The particulars Of strange story he
10 The investigating Committee that went 10 Phsdclp
TWO years ago, TO make inquiries into il. They die
so; ana he result oil their researches contained In
the volume OF evidence hich they reported to Congress
and from which MIR. Il. would read IIe read from tl,e
testimony of Mr.. Biddle:
Question TO The President of The Bank: HAS Tho
Bank any interest in slaves, other than that mentioned
on Tue plantation near New Orlesn and how is This ia
ferest nlanGgedp
dnsDeT: L am not aware that the Bank has anv in
In slaves except FAR they may be included il
mortgages Tor debts in the Southern States. The onI,
direc interest In slaves that know Of Is that once hell
~ he slaves on cotton plantation in Louisiana, wIrl
was taken Tor debt in the year 1926 and sold in 1897
as appears III the printed statement made 10 the Scnat
OF the United States by the Bank on the 20h day Of Fe
| bruary last
MI - made some comments this evidence IT
seemed 10 he particularly struck with the exec pon bic
the Bank made as to the places where she held slaves
u was only in the SOUTH il possible TO hold an
IN The North! Then che only held what came by mort
cages! which, he said was the exact way in which IN
money dealers got possession Of slaves in the South
they seldom bought but took mortgages. and 80 got ,her
cheaper Cos,iveiy and elIptcaliy the testimony wa
gwen, Mr.. Is. said, two things clear; f,sf Ih,
tie Bank had bought and sold slaves and secondj,
that slaves were morg,ged to IL al the time of maxi
log the inquiry in the spring Of 1892. Both transsc
tons he held TO be violations Of the charter and m
sale OF slaves which the Bank had made and the NOR
cages which had taken, far they included slave
were all void. He did not turn 10 the other documen
10 see how many sugar and aud cotton plantations III
Bank owned or had owned did he trouble bimse
with the unanswered part OF the inquiry namely hO
The Bank managed IFS Stare iufercsI7 Tho