Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-29

nv N'hNstltou, m Il seglI To COM
einie, after all this Bank is not 50 bad as il has be- rcn,".
sen'eN' ITS conduct has, at all events. been MOI. lbs,,i IN
,e 'naai hsd any reason 10 expect. come into the Sena,.
a. 'u@S, dnd listen asteniively to the agulnens AL.
"~eed TO prove. thar The President. ia re,oov,ov ,h.s. d..
Io''ys ,nas violated ,ie public i"ih; that he has violated
" chdtlefed riShis Oi thus corporations: tina, he has s,,,.,
a power moi vested IN hin, by the Constitution q L.ws AMI
.n', such conduct receives no rebuke, the Government,
VIII be changed, aud all powe or concentrated in tM. h,nJs 81
o"e mum VINO whi be a tyrant or despot. These aryu.
he''s make a deep iupesston; | reflect upon them. ,i,.v
- - sIui"onS' Ioree, and am sure they wou'd have
oee" satisfactory to my constituents. il ,hev coulJ h.vs
he"rd them; more especially as The question:, of "B.nk OF
49, ms' " 20 Involved. The question il, "Constitu
uo" or no Constitution" "iiberly r slavery - NV
~", &c, .e". uown IN iavor OF restoring the deposiles; 80
vote ana tue deposies arc restored. What ,,ex,? Tn.
nf 49, n'1ss nave extended their loans. on the strength
~ ~ "Se DsPosiles, which are now to be withdrawn
inese accommodations must he rapidly curtaileJ: tbcss
cuf'aii'i'ents produce bankruptcies aud uumessured dis.
Iess IN society: the tunds necessary to pro,er, Ih.s.
Banks, against The Bank uf the United States A.. 80.
from them. aud placed in the hands OF IN enragea ,ivni.
.nrouSh these fund. large balances are. immediately NC
c'hu'''eu against them; the specie il all withdr.v u, r.,
some one aud 1t is compelled TO suspend specie na.wen,..
"mS creates "pa"ic.' which produces a run uron all.
Uere is !, . s."e''' nspension oil specie payments--
So u rev s'ate OF thing; a deprecated local curren-
Sy. III We have Bank notes at all they ought IN ba -,
, sm, u,sg,puon, mat hive dollars here, will be five dollars
80 ""s'eW ne Union; neither nor my constituents.
VII oe content TO hdudle a. money, rags and trash Ior /,
Po.Ne' ~ OIL which. a man could not pay Tor has break.
iast Up comes the great question Tor reae,pino or eLon.
Su'"S, me charter OF this Bank; =. Bank or no Bank,
ahd what am now 10 do? This il prerjseIv s;,ir'n
w., mo tIe $" mugs which existed in 1916. As a States.
.I.-, n = "stSidtiOn q the CIrCUunSlapcesi in
wnieh i hnd my country. In the like circ,nntancas men
n,,, 10 sno"sest intellect, most cultivated minds, purest
stituuon,l scr,nhsa characters, gave up their con.
.,.n..on" y'ruP'es, ana Tor The sake OF purifying tie
currency, established this Bank; for The ike rs,.
ao"s ! VII, lay down my Old opinions, aud vote 10 -
I"'1 u. ihe sc hion closes. and before on ho,o
1 call at the Bank to make some arranoomn, 10 Iohe,
w. ioah, uhii can return at the next session. .oI,
pay me debt. The officers tell me. things h,us Inu
.'o whlch they did not anticipate; -tor,un,,elv
puo.c agents have seen the public interest. i'm ito ,rny.
will ne con,i a" d mao its charter enlarged, its business
y .o""n"ed, anu must OF necessity require the -.
vices oil some professional man, as their legai ,dvisor anJ vi
".o'"ey ha'it VIII be considered a iavor il 1 viii accent
,Y55o Nv" Iii as u retaining lee. Thns the matter ends. Now,
"no "m venture ia The case supposed, 10 charge me will,
corruption and yet does not every one feel. anil see ,la,
WIZ was 'ne cause OF all these operations through
winch the mind passed We must take man a a ha - So
properly constituted, acts OF kindness will hav. tlei, I'D,
u u upon MN, ami none can certainly say, to what exten,
.enem may enry nun. VINO can be unmoved. while his
y" % hesping Goals OF fire upon his head" bv doing
nun ae's oil Kindness, which add 10 his comforts }, Fey
NJ m"o i composed OF the common materials.
"r. ries'd"ht; Il appears to me that the Secretary Of
= tnr 'hn1 u'y - or me reasons which l have stated, as well
- o nose which have been stated by others and .hi.t'
ths ,uh ~ 'uenhauoH 70 repeat, had the power to remove
nc P""'e moneys from the Bank of the United S,,t.s
~. n Piics mem In o her Banks for safe keeDiup: ami ,ha,
81 conduct OF the Bank justified The exercise of that row.
~ buf, when lac came To form an opiuion wba,Las
was good poiicy TO exercise IL, or nof. n omns,;on 80 "
sen.e"' upon which the warmest friends of ,he AJmi,is.
and Io, "U IL sIernesl oppossrs OF the Bank, might tceH
NV "O"eSHy entertain UGriOus opinions. Tn. inmens.
t THIS Bank-its great cspari,v n rro,,.n ~
" '"ii'c' eVns upon this community, and the unvieIiiu,
" "''duoh IL u d manifested To piocure n repew,i r
t"'i;er,n possible, might Wei make The prudent, the
uih!i' II you choose, decline its exercise. gn, H. .,ns
- nave oeen removed and with Inc The question no il,
. so'u pohcy 10 restore them. | say, no. | ann onpne!
eu 10 pioionging the charter OF this Bank: | wish i con.
Germs closed when the charter expires. II ia sid ~.
ho"n IS distressed. l believe it. The deposites have
eSn le.'''ea INTO , ae Banks, al accommodations have
on the strength of these deposites. If ,he
uuposI'sS are restored these Accommodations must lie
his Will make the confusion grea,.- and
add 10 the dstresses. The United States B.nk is NV NV
'er no necessity, as has been clearly denousIr,na
ny Ge senator rom Missouri, to curtail its accom-
any ldruIer at present. If the denosi,cs
are restored, The Bank wall be under no obliy ,tions 10 gran
I"y Increased accommodations on accoun, of then. if il
Toes they must DC limited ia amount, and for sbor, ner;nd,
:. ,"o pan Il o De wound up II must collect It's debts
aiu pay whdti 1t owes. BY restoring the depo.iies. WA
'"e 9tate Banks la the power OF this Bank to desiroy
M" &c, ana ~ 10 compel them To suspend specie payments Al
ms power, 1 tear, would be exered. il i, nere
so" &c "At 'ia' was the most certain mode in which 10
procure a renewed charter.
The honorable Senator from M,ss,.I.,. bH,,
'ePoSles ought 10 be restored, and the Bank re- chsrtrred /
anu lhA' mis- Is an enectUal plan to relieve a distressed
coh'muilty. with the opinions he entertains. his noucy
sound. lie is correct throughout, and consistent. III
o $ he does, that we had power TO charter n B,,,k
ami that ibis Bank wan an essential aycn, lar ,h. Cor"""'
mem, a4d IT'S operations a blessing to The commuuitv
wound 20 with him and say, the deposites ought not to
~ e Dreh removed; they ought 10 be reSored; the INK
h,yc no s'nI wv soele'y p"' at rest. But. believing we
~ nv sucti power (and II we had, that it ought not TO
eSerclsed) TO restore these deposites, worlid' IbiuL
'e eS,''iHs dis!resses, aud make " confusion worse
Mr.. President, ithas been URGED ,ba, IL ,ha,o
NNN' ~ Ahdk u tUetG nds Deen |
any mp opriety IN the conduct OF the Bank, such conduct
hhd a Justification in the conduct OF The Chief Nj.
''" mat u mas been guilty OF an usurpation of |
'hut AIS course has been tyfannical; that lac has
violated chartered rights, the Constitution OF his country
ana 'he pubic iaiih. These are high CHARGES u,aJe ,.;h
"0e"ohi' ahd main aimed by distinguished ability.
am not among the number OF those who find f,ult vyitb hhs
course, on The part OF those opposed 10 the Administrator
va. Nue''y depends Oh The freedom with which ~. ex.
anime Tue conduct oil those III high Offices. ilbe charges
are not well founded, making lhsm cannot do harm IN ~.
ci5a az" %mon mey are made and II well founded, so.
cie'y Is benefited by having their misdeeds uubicIv ev.
posed. The whole OF Ihese charges rest upoI, rbc s1ono.
sihon That The President has assumed and ereyeisei nnvy.
eis' VIVA which lie was not vested by die Constitution mr.
laws OF The u. States.
We are here naturally led 10 inquire what has he done
exercised. F "e "'
lie has removed one Seer tagy of the Treasure ,,J y,
pointed another. He called upon TIE Birectors of u.
Bank oil NE United States, which, with the advice and
consent o Tie senate, he had appointed, 10 report TO hin,
we manner In which the business Of that institution had
Deeh conducted and was conducting. After he received
'ne,' Iepori, ne de,e Fmlned that the public moneys TO be
collected alter the lst October last, should no, be drnositsd
IN MAT Bank, but placed in other Banks for safe keepiur
unH called ior 10 saiisiy appfopri ,tiUns made by C,u,r-ss
J. nc whole power iieu, which the President has ut,Is,ta-
Ken TO eXeicise, is neither more nor less Than this. NAT lao
as thc Chiei Magistrate, has the power 10 c0nsfrue the
CONSTITUTION ana idwsoi the U. ST. endeavor TO ascertain
theIr true meaning, and then carry that meaning iuto Of
iect, so lar Us depends upon his own action. or U,e actic,
OF tlofe Inferior officers appointed TO aid him i'm the ,ls.
cparge OF ms Executive duties. II appears evident N
me- "'d' ne possesses this power, aud that hs whole d,.
Ues consist IN exercising such powers. He therefore. L,s
10 assumed or taken upon himself TO exercise any power.
WINCH, III lis nature, he did not possess. In IFS exerciss
lie may be mistaken; he may think The powers of ,ba Co,
etiiution or law meant one thing, when thev intended
anothei; but this would only be an error in i,domeu,