Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-10-03

he bad right 20 state his reasons, which reasons COZ s
ted his speech; that the ton debate cable. and the
whole Senate might answer him. The Vice President
then directed MIR. b. 10 proceed.)
hr. Il. resumed
in The even, OF the renewal OF the charter. speedily
become boundless aud uncon ollabe. The Bank is
authorized to effects lands inclusive, the amount of
hiiy-hve millions OF dollars and to is-ne the
amount OF hi,t -hv. millions more. I'll is makes ninety
millions; and in addition TO this sum, there is dis.
pensA ion ia the charter 10 issue many more notes as
Congress by law my permit. This opens tho door TO
bovness cmi'si-ns for what can Re unboune tia
the will and pleasure of successive Congresses 1Le
direct power OF the Bank cannot be stated in figures but
eau be shown TO be immense. Iu the first place has
the keeping Of the public monies, nov amounting to
tmenty-six millions per anuum, Uie Post Office Depart
ment incuded) and the grauitous OF the lraw
balances large enough 10 constitute, in themselves the
capital OF grea, State Bank In the place, its pro-
mssory notes receivable by law, in purchase oil all
property owned by the United States and in psynest of
all debts due them, and this may increase its now or
70 the amount OF the annual revenue by creating
Tor It's notes TO that amount In the third place. il
wears the name OF the United States and has the rede-
raj Government for pat rer and this name and this
partnership, identities the credit of the Bank with The
credit cl the Uuon In the fourth place, il is armed
with authority dsparage and disccd the OF other
banks. by excluding them from all payments To the Uni
ted States; and this, added TO ali its other powers direct
and indirect, makes this institution the mo-
march Of the uoned system OF The Union. To whom is
all this power granted? To company of private iniy-
dua's, many OF them foreigners aud the MASS OF them
residing IN remote and narrow corner Of the Union
connected by any sympathy with the fertile regions OF the
GREAT VALLEY, in which the natural power OF tli.
Union,-the power OF numbers,-wil be found 10 reside
long before the renewed term OF second charter would
expire by whom is all this power TO be exercised
by Directory OF seven, Qt may be,) governed by a
majority OF ionr (t may be) aud oil these elect
cd by the people. responsible 10 'heni. Where is
1t 10 be exercised! AT single city, distant thou
sand miles from of the States receiving the pro-
duce OF none OF them Except one with The
people; with branches every State and every branch
subject TO the secret aud absolute orders OF the Supreme
Central head thus constituting system OF CENTRALsM
hostile 10 The edefave principle OF Union, encroac
ing upon the wealth aud power OF the States and organ
lied upon principle TO give the highest effect 10 The
greatest power This mass OF power, ia conce
thus ramihed, and thus directed must become
under prolonged existence, the absolute monopos OF
American money, the sole manufacturer of paper
and The sole authority, for authority it will be,
The Federal Government, tue State Governments the
great Giles corporate bodies merchants traders and every
private citizen, must Of necessity apply for every loan
which their exigences, may demand. The RICH RuLEru
THE POOR, AND THE BORROWER Is THE sERyANr OF
Suchare the words OF HOLY w rit and il n
authority OF the Bible Admitted Of coroboraon the history
oil the world is at hand TO give it, But will not cite the
history oil the world, but one eminent example ONLY and
that OF nature SO high aud commanding, as to Include
all DINERS, and so near and recent 10 be directly spill
cable to our own situation. speak Of what hsppened in
Great Britain IN the I795, when tho Bank of Eng
iand, oy onef and unceTemonous letter 10 Mr. Pit
such as iniser would write prodigai in pinch gave
The proof oil what great monied power could do, and
tcouid do, promote own interest in crisis of naio
alarm and difficulty. will read the letter Ii.eyceed
ingy short; Tor, alter the compliments arc omitted there
are but three lines oil il, lts in isc about as long ~
sNS"Su " prayer oil tue nudge
Ii runs dust
"It is the wish of the Court of Directors, ,ha, the
Chancellor OF the Excheqaer would settle his arrange
ments OF finances for the present. year, such manner
not 10 depend upon any further assistance olp th.u he
You'd what is already agreed i.r."
Such The words OF thi, me morabIe MOLE sufficient
iy explicit and ntegibe; but TO appreciate it fuy VIC
must know what was The condition OF Great Britain at
that Time. Remember it in tho year 95 and IN. be-
ginning of that year, than which more porientous one
never opened upon the British empire Tie war will, the
French Republic had been raging W Snain
had just declared against Great Britain
bursting into rebeiionthe eet at Tue More ia open
mutny,-and cry tor reform OF abuses and the reJue.
ton 10 taxes, resonDded through the land. IL was
of alarm and condemnation, and imminent aci.
danger 10 Great Britain; aud this the moment hi,
The Bank selected 10 notify the minister that no more
loans were TO lie expected! What Was the effect of
this uouhcaion' IL was TO paralyzs tile Government
and 10 subdue the minister 10 the purposes the Bank
From that day lorl, Mr. Pitt became the minister of The
Bank; and before two years out he had
bringing all the departments Of the Government kim
Lords, aud Commons and the Privy Council 10 his own
sa,ih condition He stopped the specie payments OF the
Bank, and made its notes the law iu currency of The
land. la '9I he obtained order in council for this
purposes IN HE sane year an act OF Parliament TO
confirm The order month, and afterw ards series
OF acts TO contisue II for twenty years. This was the
reign OF Inc Bank For twenty years il MAS a dominant
power in England and during t.t DISASTROUS period The
public debt about s. 100 COO serinp
10 thousand millions dollars and that by paper
fIom Bank, which according its own declaration
had not shilling 10 lend at the ment OF the ne
Rod oint the rest say nothing Of the general sub
oil country BANKS, The tile prices
iood The decline in wages the increase OF crimes and
taxes, The multiplication OF lords and bcgears and Tho
fighIul demoral cation Of society. omit all this on.
W seize the prominent figure in the picture that of g0
uerTnent ARRESTED in The midst Of WAR and DANGER
by The VETO Of a MoNIED CORPORATION; and only
permitted 10 so on upon condition Of assuming The oJu
oil stopping specie payments, and sustaining the pron,so
ry noes OF nsolven Bank the ul currency of fine
land his simple figure uiices fix the character of re
tines Tor, when the Government becomes the seyUant Of
The lender the people themselves be come its slaves
Cannot the Bank of Tie UGited States il &c. chartered
act IN the same way! II certainly can aud lust AZ Ger.
tainly viii, nhen time and opportunity shall serve and
interest may prompt IL is 10 purpose that gentlemen
ysuD TIE character OF the United States Bank and pto.
claim il too just and mrf6iai 10 Cypress the State mus,
be permitted 10 repndate both the pledge ard the praise
The security IS insufficient; aud the omium Tonga 10
C"n'tanunople There were enough such in tho British
Parliament the year before nay, the day before tho Rant
s'opped yet their pledges and praises neither prevented
Tic sloppdge, nor made good the damage that ensueJ-
There were gentlemen In Congress 10 pledge Them.
sevesin 1910 Tor The then expiring Bank OF which the
existing is sec0nd and Iecgiordled edition auJ
ii thsir secufiiyship had been accepted, and the old
Bank re-chariered, should have seen Ibis
greeted with note about August 1Sl4-abou the ,imc
The British were burning this capiolof the Same tenor
with the one received by the younger Pitt in the wear 95.
for IL is incontestibc, that the Bank was owned bv mem
who would have gloed ia arresing the Goyernment mi
the ITSELF Tor money. II sppily the ,y.lon,
anu patriotism oil JeiieIson under the Providence of God
prevented that nAmy aud ruin by preventing ha repoai
oil The old Bank chirer.
H. ject TO the continuance of dis Bank because ia
tendencies aie dangerous and peTucous to the Govern
ment AMI the people.
What the tendencies Of great monicJ power con
neciod with the Government, and controlling ts fiscal
opcrahoUsf Are they not dangerous every interest
pub &c and priYaiepoiicai well NJ cuniary3 say
hey arc, aud bTifiy enumerstc the heads Of zach ns