Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-06
LETTER FROM WASHINGTON

LETTER FROM WASHING ON.
WASHINGTON, January 30, 1884.
We have had such flood OF defamation about the de-
posiies succession Of the argumen passing
like Banquos progeny before us, since Two months that
the subject begins here least pail upon the
the communi y. Every thing yet sad side, was
circulated every where before the meeting Of Congress
the great Bank Report and that document seems TO have
orestaed the entire wsom OF the party, and TO have left
nothing the sPeecimskers but the confectionery
Of sauces; and unless they furnish the
ing OF speech from Mr.. Adams or Webster, know
nothing that can ref, the cIoyed appetite the meal
Amongst the grea, harrangaes yet delivered appauses
by far the loudet have been avshed upon OF Sena.
tor Calhoun Men dare 10 say that Clay is descending
from the high meridian Of his glory and Fastening TO his
setting Calhoun Is at least about the Capitol, entire lord
oil the ascenlant the ambitious look up him with envy
and the humble with admiration. In the little world Of
the Philadelphia newspapers perceive that he is up
as standard upon which all rhetorical
excellence. Your National Gazette tells us that each ar.
gumen reaches the certainty of proposition in geometry;
all his opinions axoms saith another and another still
veier sensbiy tells us that he has not only surpassed
modern eioquence but has valled the fame merits
Of antiquity Demosihenes being asked what contributed
most TO oratorcal success, replied, "The favorable pre-
disposition OF the hearers; aud IL this be true il is quite
silly in TO rate mems qualities in these times by the cs
tmaton OF political parzans am going, therefore, 10
read over the several speeches. corrected by the au
thors, and when have nothing better to do will give
you my opinions of their character as literary composi
tons First oil Mr. Cahouns soundness and consistency
OF argument, and rhetorical merits.
Argument lst The deposites shall be made in the Bank
unless the Secretary shall ohertose drect the speech
sets out by referring the words in Italics 10 one object
alone, namely, the security Of the public funds He
then shows they safe in the Bank concludes that
the Secretary exceeded his powers by their removal This
soning by The same process 1 will prove you the psrt
greater than the whole; side OF triangle than
The other two or any other mathematical absurdy. How
very probable is that the trainers OF the law but
one single object TO enforce should have left that ohiec,
undehned-ihat they designed confer simple and
c power upon the Secretary aud should have left TO Mr.
Calhoun and the faacy OF political te
whait was But the President in his last year. and
the House Units report placed the subject oil excu
aIv lu raj - al.
proof OF the limited consiructon--of the inangibity of
the funds for any other The President pointed 10
one reason there was therefore other. One hole in
The sieve stopped and therefore the vessel is herme
caiiy sealed CAS- long as the money is safe says the
orator. not even Congress has the power of REMOVAL
So Mr. Biddle has lair play He may dispae il at dis
erection In any course oil proigate expenditure wanon
misspplcaion. He may only buy political pariizans
editors and orators with the public funds he NAV empJov
them TO aid he south nulliy the Union or even
them in The hands Of the madnen OF the North who are
wagng war against the domestic institutions of the South
under the plea oil promoting the general welfare" This
Is the kind logic which your city reaches the
cy OF mathematical demonstration.
The next topic in connection is the material difference
between tc,fhhoidng money from going into the Bank
anu chddtcing II alter II has been placed there The
Secretary ior the security OF the money, may withhold
from the Bank, but has right to Withdraw single dol
lar once deposited there In other words, he NAV save
part OF the public money! but to the whole OF 1.-THE
ten millions already in possession Of the Bank-,his is be-
not only far beyond the Secretary which Congress
itself could not exercise without fragrant breach Of the
Constitute Underbred pleaders torture words, and
look into literal meanings in the of laws
but superior and intelligent minds regard the intention
and wisdom upon which they established. Let the
editor in your city who places such as this AT m
side OF Cicero, be handed over to the doctors
The third great topic OF the speech is, whether the
President has the right, under the Constitution of reno
wing the former Secretary and appointing another and
also The right OF general supervisors; and whether these
rights can be consiituoDaly exercised in reference TO
the removal OF the deposites. This Mr.: Calhoun deter
mlnes against The much rhetoric OF the Bank party i'm the
affirmative. BY reversing the case, and surprising the
late Secretary in favour and the President 10 the
removal, IL would have been, Mr. c. thinks bis inds
Pensabe duty 10 dspce The Secretary or otherwise he
would have been held justly responsible. This position
indeed mpregnabe, but it already occupied by Mr.
Polk, and Mr. L. has other merit an that OF
10 manifest truth; is this small merit in the Sc
times BY the admission, however, he has failed in the
ordinary cunning OF an advocate. He should have re-
memoered how eloquent theme Of dec aInatioD This
topic had furnished to his colleagues that il had r been
introduced and dated upon by the Grand Inqusor and
Sano Herman.dad of the Bank in the great report that IL
had furnished Mr.. Binney column or two of sylogisms
that this theme Mr.. Clay had poured out torrent OF
magnificent verbosy about tyrans, impeacbments, SC.
&c and that Mr. McDufe had vexed the stars with his
oan'-a about this dctaoria nterposon Of the Presi.
dent BY thus demoshng OF the main breast works
OF bis own party Mr. c. has weakened confidence in
the whole system Of defence
The last great topic discussed by the orator. relates TO
the present commercial nts which he at
buies not 10 the Withdrawing the petty sun of The Demo
sites from the circulation Of the Bank but to the deem
wound inflicted upon the public faith. Did believe
the contrary, says the orator &c" thought that apy
in
winding UP in regular aud legal manner the present or
any other Bank IN the United States would deem /, an
evidence oil the dangerous power Of the Institution and
10 mat exent an argument against its existence In this
OPINION the speaker Is at issue with the suhores of
his party, whose reasoDngs authentic place him in d.
rect accordance with the sentiments Of the Presidents
veto, and array him on the side OF opposition 10 the Bank
One year and bali ago, Mr. Webster spoke Thus tTbe
amount due TO the Bank loans aud discounts 50 great
That do not perceive how any believe that il
can he paid within The time limited without distress
when the collection Of this debt begins, the same lime
the existing medium Of payment that is the circulation of
The bills Of tho Bank. will begin TO be restrained and with
drawn, ana thus the moqns OF payment must be limited
just when the necessity OF making payment becomes
pressing. The local Banks will be unable 10 afford
assistance, because they themselves will feel n ful
share OF The pressure They will not be in condition 10
extend their discounts but In all probability OBLIGED 10
contract them The Western country has a 1osn from
the Bank Of thirty millions; 10 call in this at The rate
The whole, aud TO take away, al the same time the
circulation which constitutes great portion of the
medium Of payment, IL an operation which, howe.
yer wisely conducted cannot but innct blow uuon te
currency VI tremendous force and rgul consequences
The Thing cannot he done without distress bankruptcy
and ruin 10 many" We all know how immens,y The |
Bank Tor political purposes has increased its loans since
TIE dale OF these remarks aud the abrupt aud preposer
Gus inequality Of IFS curiailments since Nv months
There Is nothing again in all this ng which sayours
oil mathematical precision, which entities the author TO
a seat with the great Roman or Atbcnisn orators.
Some other topics introduced in the body Of Ibis
discourse Of minor importance. For instance, there Is
much waitng about the injury the removal Of the De.
posies has done 10 ho Bank, Especially in forcing her
sgans the tenderness of her nature 10 be cruel 10 her
eusomers0 also 10 the large portion Of respectable citizens