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

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President instead OF for had been against deeming the
removal only inexPeden but under crcam.tanccs H.
legs would any man doubt tina, under such crcumssn.
he had Alright TO remove his Secretary il il were the
only means oil preventing the removal Of the deposited
Nays wouii II not be bis Indispensable duty have
moved him' and had he TO- would nm, hc have been uni
vcrssliy aud justly held responsible!
have now (said MIR. C offer ed all the remarks in.
tended IN reference TO e dcpositc questions and
In removing the depoes, has clearly transcribed his
power that he has violated the contract between the
Bank oil the United States, that On so doing he has deep
~ injured that large aud respectable portion OF citizens
who has been Invited the faith OF the Governments TO
invest their property in the institutions; whle at the anne
time he has deeply injured the public i'm its character of
stakeholder; and finally, that he has inflicted deep
wound the pubic faith. To this last attribute the
present in the currency which has SO inu
rousy affected all the n,eres the country Ths
currency OF the country the credit Of the
' in every shape public aud private; credit not only In
me sh'Pe oil paper but that Of faith and confidence be-
tween man aud man; through the agency Of which, in all
It's ions the grcs, aud mighty exchanges Of this CONNER.
cih country, at home and abroad, effected To i'm.
n'c' wound any where particularly on the public ath
rs 10 embarass all the channels of currency
and II Is To this, aud not TO the Withdrawing the few mil
Hons oil dollars from circulation, that attribute the pre-.
sent inonied embarrassment Did believe 10 the con.
rary ii thought tia, any great and permanent distress
would OF itself result from winding up regular and Ia.
gar manner the present any other Bank of the United
S'aes' would deem 1t an evidence Of the dangerous
power oil the institution and to that extent an argument
against IT'S existence; but, is regard the present en-
"assmeh' not as an argument against the Bank, bu,
argument against the awess aud exercise
er on The part OF the Executvean which
Is likely to continue long, il the depo.i,es be not re-
sored Inc Banks which have received them at the ex.
pcnse oil tho public ai and in violation of law will
be permitted to enjoy their spos in quiet. No man who
regards The SUBJECT in the light in which do, can ever
give ms sancon TO any law intended protect or carry
through the present illegal on the
must ee' all such bound TO wage perpetual war against
an usupation OF power fsgran that which controls
the present deposites of the public money. IL stand
alone, (said Mr. C,lhoun) at least will continue TO
'"a,n'ain The contest so long as remain in public lille.
Mr. G. L dor ito
the deposes in all its bearings, public and private il is
one on lie sur'ace-a mere preext to another and
greatly more important, which lies beneath aud which
must be taken into consideration to Understand correct
~ all the circumstances attending this extraordinary
Transaction tits felt aud acknowledged all sides that
there another AID deeper question: which has excied
The profound sensation aud alarm which pcryades the
country. Wv
If we to believe what we hear from the advocates
oil the administration, would believe at one time that
the real question Bank or no Bank: al apotrr thai
me question was between the United States Bank and the
State Banks; and finally, that struggle OIL the mart
Tue administration 10 guard and defend the tiybis of
the States against the of the General Co.
yernment me administration the guardians and deien-
ders OF the right Of the States What shall call il an
daciiy or hypocrisy The authors of the Proclamation
me guardians and defenders of the rights of the States
The authors OF the War Message against n member nj
this conlederacy-he authors OF the .bloody blp, tho
guardians and defenders of the rights of the States, This
struggle Tor States rights! No, sir State rights are no
more ne struggle is over for the present The bill of
the last session. which IN the Government e r,
oil Judging OF the extent Of lis powers finally and conri
sNe'ys anu gave " right oil enforcing
oy the sword destroyed all distinction delegated
and reserved rights; The Government The
ehre power oil the system, and Frustrated the States as
poor and helpless corporations the OF this sove.
reignty.
Nor is it that the real question is Bank or
no Bank Taking the deposte question in the broadcast
sense; suppose conisnded by The OF the adnnis
traon tina, ii involves the question the of the
charer and equenty the existence OF the Bank tse
sun 'he banking system would stand, almost untouched
and unmpaired Four hundred banks would still remain
scattered this wide republic and on the ruins of ibe
United States Bank, many would be added TO the
present list Under this aspect of the subject the only
possible question that could be presented Tor
would be, wheh the banking system was more safe
the U. States Bank? " "''''
H. said Mr. c.. this question Of Bank or no Bank
III IL involved the existence of the Banking system II
tude and with my present impression long entertained
ana daily increasingly would hesitate state he
lore would be found under the banner of the system
have great doubts, doubts they may be called as to
the sounness and tendency Of the whole system in all s
notifications have great fears that il will be found hos
tile to liberty and the advan Of civizaona,.llv hos
e 10 liberty IN our country where the system exists in
It's worst aud most dangerous form. OF all institutions a
ecng the great question of the distribution OF wealth.
question least explored and the important OF any in
The whole range OF political economy the banking insitu
on has, not the greatest among the greatest influence
ana lear most perncious influence the mode of dis
"iDuton were the question really before us, would
not shun the responsibility, great nigh, be- of free
~ and fully Offering my sentiments these deeply i'm
porant points but, is, must content myself with
the few remarks which have thrown out.
what then,is the real question which agitaes The
country! answer, ii is struggle between The Execu-
i've ana Legislative departments of the Governnen-a
struggle moi in relation 10 the existence the Bank but
which, Congress or the President should have the
TO create bank, and the control over the cur
rency OF the country This is the real que stion Let ne
not deceive ourselves-this league-his association of
banks-crea,cd by the Executives; bound together by m
influence; united in common articles of association viv
he'd and sustained by receiving the depostes of the pub
lie money and having their notes conve rted bv beng
received every where by the Treasury, into the common
ia nnli
bank OF the United Sateshe Executive bank OF the II
States as distinguished from that of Congress.
However IL might fail 10 perform sactoriy the uss
ful functions Of The Bank OF the United States as
poraied by law, 1t would ou's'rp far outsIrip it in all
lis dangerous qualities, in extending the power the innu
ence, and the corruption Of the Government IL wasim
possible to conceive any institution more admirably
lated 10 advance these objects. Not only the selected
banks but the whole banking institutions OF the country
and with The entire money power, for the purpose of
speculation, pecua,ioh, and corruption would be naceJ
under the control OF the Executive A system of inena
ces and promises will be estsbiished-o menace TO The
Banks in possession OF the deposies but which might
not be entirely subseTyent to Executive views: and
mise OF Iulure isvors TO those who may yet enjoy
iis iavors. Between the two the hanks would be lei,
without influence, honor honesty; and system Of ne
culaion and sock jobtpg would commence uneousiIed
I'D the annals oil our country. fear they have al.
ready commemorate lear the means which have bee N
put into The hands OF the mnons of power by the reno
va OF the deposltes, and placing in the vaults of de-
pendent banks, have extended their cupidy to the public
lands, particularly in the south west; and that TO this we
must attribute the recent phenomena in that uuarteI inn
meDse and valuable tracts Of land sold al short notice
sales rsuduenty postponed TO aid The spectators, with
which, u am not Inisinformed, not unknown 10
this body (Gwin) has performed prominent part But
leave this TO my vgiant and able friend from Missispn
(Mr Pondexter) at the head OF the Committee nm pm