Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-03-06

following resolutions: ~ " ''''' "'"e' 'ePof'ea inc
i. hesoired. That this meeting disapprove Of the re-.
o's OF the Government Deposites BY the President of
the United States, from the Bank nj The yyn;,sd az,
reckless, mischevous aud unconstitutional exercise Of
q esored, That the fatal effects of ,bi, m.a.,r. s
"eady visible ria the deranged condition Of the
IN me daily increasing MS of the commnn
@ me appreciated and deprecating value of every spe.
Resoired. As the opinion Of this meeting, that the
most obvious and efecual mode OF healing the wounds
na' nave oeen inflicted on the constitution and laws and
pghted faith Of the country and the liberty and
OIL the people, both by the fact and the msnuer Of the
S,aos the restoration OF the Deposies the u.
STATES bank and It's branches.
l. Resored, as the opinion OF this me citing that the
remova' OF the DePoses, and The renewal OF The BanI
chaer nave no Necessary xion with each Others
And that highly approve The frmne.s with which our
delegate in the Virginia Assembly, resisted every effort to
Sne mem, the only effect of which is, weaken the
,oce OF inc Legislative censure Tor the removal of the
ePosues anu 10 encourage the President in
"'i ma pss career o. nsurpa.ion and mi.rue.
o. desofued, That THE meeting deeply deploye. the
Ses'h oil our talented and ds,ug In
Congress, the Late Thomas T. Bouldn whose loss at any
; ne .ney wou'e have felt as public calamy-at this
Juhcture when his patriotic services were SO much need
edit Is irreparablel N
Randolph Harrison, Esq, then offered the following
reported by the committee.
"The people Of Cumberland have assembled together
no, only TO exercise right hut TO perform duty which
w moment oil SO much peril to their welfare and happ
ness they consider imperative. They have witnessed
uee sohc'tode the conflict which has arisen en-
'o h'esueht anu Directors oil the Bynk of
on one sde and the Presden, and Secretary of the
states on the other While those who may be called no.
10 are governed by party spirit in greater degree
man Is desirable we feel that the great body OF the peo.
pie should assume digni6ed attitude BY examining
IN calm and dspasonate manner the conduct of tbose
VINO are either nediaeiy or Immediately entrusted with
,"e management oil their great concerns, and by civ.
ing 70 each subject distinct consideration apart from
oher dyested far possible any bias in favor of
er Of 'he great parties which shaking its centre
e fabric in which the liberties OF ourselves and our pos
terity are embarked.
is the opinion of the people assembled here, that
the President and Directors the Bank of the u States
nave abused the powers conveyed them by their char
ter, and transcribed the limits those powe r. 10 most
alarming extent. Without attempting to enumerae ali
ther unwarranIable scts will refer to some few in
stances OF transgression which think they have been
gn,y OF. They have entered the political arena, and
carried on partizan warfare; and in this they have
employed the money Of the institution, one fifth IF which
belongs TO the people, besides the income of the govern
meh', which has been placed under their custody TO
very large amount In order eecually to conduct
lheir operations smaller number OF directors than is au
horsed by their charter (Which requires not less than
seven for the transaction OF busness) have been in the
constant habi, of loaning large sums of money while
inc hve directors appointed represent the stock of
,he government and TO watch over its interest, have
been altogether excluded from this private committee
whose acts, by the admission of President BiidIe
himself on bis oath in 1892, are not necessarily or
generally sid before the directors This board is appoin
ed by The President who has been also in the habit of
pamphlets of various kinds and Great bond II
among others, circular letters to members Of Congress
During the year 1881, and four months OF 1882, they
tended their loans from forty TO seventy millions of
dollars and shortly alter when called by the govern
ment TO pay six millions OF three per cent stock OF
nine millions, which was in deposit our credit, 1--WE
speak in round Dumbers they unable pay, or at
least found so nconveneDt 10 enter into negocia.
ton with the foreign holders OF the stock, keep
and hold the Bank responsible for the interest The peri
od at which this transaction took place. aud the other cir
cumstances attending it, afford the strongest
that its object to produce political effect by effort
to prevent the election OF Chief Magistrate who had
avowed himself unrendly 10 the renewal OF their char
ter They have exported specie 10 large amount, which
by their charter they expressly forbidden deal
The foregoing acts, of which, together with Others
which might be mentioned, calculated subsidze the
press called aloud for the interference of the constituted
authorities.
ned 10 his cabinet, his determination that the public
ney should be removed from the custody OF the Bank
might be selected by the Secretary of tho Treasury And
because the Secretary (Duane) did think proper
the depostes the President has removed the Secre
tary from office, and appointed another, Mr Taney) who
OF his opinion. We admit the right ofthe Presi-
dent OF United States, who held responsible for the
acts of the Executive department. 10 remove the Secre-
tary, because the Constitution fully authorizes it, Nor
do question the right OF the Secretary of the Treasury
the deposes, because the OF the charter
of the Bank, give him the unqualified right to do So
Nevertheless do not approve Of the act OF the PRESIDENT
in removing Secretary Duane, the act Of Secretary
fancy, in removing the deposes from the Bank OF the
United States, where they placed by the
ves Of the people, TO the local Banks OF the different
States We think that the Congress OF the United States
elected by the people, which would in short time
semble would have been the most appropriate tribunal
and there was immediate necessity which ought to
have arrested it, We think, however, that this tribunal
ought to have done the very act which performed
by the Secretary, because the Bank OF the United States
had forfeited its claim TO the of the public money and
the confidence Of the people We think, therefore, that
the deposes ougbt so be restored since have
ry believe they would be again employed in
all of the great OF the Bank, first tending
and then contracting their ioans and the pressure which
have become somewhat familiarzed, would be acted
again in still greater degree.
owe TO the subject Of the proprety of char
teiing any Bank of the u States, which Of serious
ment Aud first say, that the evils Of the Bank, al
present organized and lis dangerous tendencies very
outweigh any advantage that derive from III yet, when
we recolect the dsordered state OF The currency the
country during the FIVE years rom 1911 ISl6) when
there was Bank Of the United States owing in
great the excessive issues Of the Banks the
different States, which could have control each
other; the erable Offices of stock obbeTs in every
city OF the United States, and many OF the towns, shaving
the paper those who compelled in the
trade translate money from part Of the Union
Their When recollcct too, that the fiscal operations Of
the government much performed during the
absence Of the u. s. Bank, than while IL in opera
lion, and when reflect, that while the local Banks
cannot the various duties necessary 10 the opera
tons OF the General Government, perfectly Bank
of the u States the depoe OF the public money IN the
State Banks necessarily add 10 the patronage Of the
General Government, not only by its influence these
but those which might desreto suppsnt
them the ayours Of the Government. When all these
advantages taken into account, incline TO the op
MON experience Of the evils OF the present Bank,
might enable organize another TO make lie adj
vanages outweigh its Disadvantages. We would refer 10
the superior wisdom OF Congress- The great changes rem
dered necessary by past experience We would suggest
however,
"Firs That in all from the State Banks 10 the u.
s. Bank the notes Of the Mother Bank or any Of IFS
he cd IN