Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-01

deut opinion or wish in favor Of e,l err Bank rhe,
than to say hh he thought the Bank Of Mar, land had
TOO small capital to make that institution suitable de-
pohtory Tor the public money. The President did examine
into the subject, and mnended the ULon Bank, and
the selection was accordingly made.
" MIR. fancy never was Din ector Of the Union Bsnk
ne was on the occasion. while he lived in Baltimore.
cleo Ell by the stockholders. without Lis kuom ledge But
lie declined accep ing the arpoininI.nt.
1--WE are authorised further to say, there s not the
slightest foundation for the that the Secretary
me Treasury has given Treasury drat contingent or
oher, during the present month, to enable the Union
Bank 10 meet any demands which mig h be upon IL.
No Treasury draft aDy nd has beer give the Union
Bank since October last, when the contingent transfer
Ia'ts which have been so much spoken Of given
diieren, Banks The for giving Them are fully
explained ia the report made to the Senate the 3Oth
Deeeoer IN pursuance OF the call made upon him by the
resolution OF the Senate Aud may be proper add,
justice to the Union Bank has not aked for aid from
the department TO sustain it, given any hat.
ever that necessary desirable. The Secretary
the Treasury has doubted anu does doubt,
that the Union Bank is perfectly able sustain itself
against and attempts That may be made against ill.,"
REPORTED CONVERSATIONS OF THE PREsI.
TENT.
We have reirsned from stculsr notice heretofore of
The reports OF the various Committees that have waited
upon the resident on the subject Of the distress which
was alleged TO have fallen upon the country. Although
many "f them have been obviously designed to give false
views OF the opinions aud nimen,s Of the President
saw that the discernment OF tie Public anted no aid
from US 10 point out their in this respect and suppy
what was necessary to vindicate the President.
now however, that the source Of such msrepresena-
uoh Is III great degree exhausted IL be amss
advert briefly TO The pr, minent views which tie Presi
den understood have ia xion with the
subject which now so generally engages the ten ion Of
the public and which lie has avow ed in several of the in
erv'ews Led with the Committees 10 wsom have re.
erred.
ls Among these number lis O. inion that the pre-
sent Bank OF the United States is institutional and
DANCE rous to the Liberty and no'as OF the People, that
all National Banks organized upon the principles OF the
present. are liable TO the same obi econs and there
fore not contemplated by him a substitute.
I'd That the State Banks be made safe deposito.
riaa ft.. E,..ta ~ al,
mens, under suitable regulations prescribe by Congress
for transmitting tie public moneys from place place.
and securing soIvency and unit rny to the currency OF
the country Towards the attainment of these oil iecs
the Pre.iden, has been represented locking alone 10 the
action OF the Secretary Of the Treasury, pendenty
oil the ion OF Congress Such, we lie I assured has
been[the Whatever measures have be EN- CON
tempaed by him necessary, after the OF
the present Bank OF the United Staes, they have uniform
y been considered subordinate the authority
OF Congress the whole subject Of the revenue and
al his suggestions the subject have been ade In no
other view than that oil urging the timely n,erpostion Of
this authority TO give permanency and the de-
termination TO dispense with National Bank as seal
agent OF the Government. Within these limits was OBJ
pous That all The great interests Of the county, as
they are by the condition OF the money system must have
engaged his atenon and il natural that he should
speak of them, in come xion with the egi-a,on which
hey Called Tor, with the Ira nkness that became the Chief
Magistrate. And
3D. In respect 10 the currency. Regarding the Const.
futon as contemplating no other national currency than
that OF metallic one he is understood TO entertain the
opinion, that among the greatest of the evils the
operation OF the Bank OF the u Sates has been its ten
dency TO defeat this important oil jec He has according
~ had an eye TO the condition OF the country as at pre-
sent Affected by tie system OF banking in the consdera
ohs whch have guided his suggestion in regard the
employ ment oil the State Banks subs i,ute for the u
Bank Sensible that an nme date return to the metal
tic currency would be productive Of great
moi Impossible, at the present ne he has tu ned his
attention 10 such expedcnts would mitigate the evils
growing out Of the present system. Among Sc the most
practicable one that hasoccurIed 10 him. that Of author
zng the Secretary OF The Treasury, as far as Congress
has The constitutional the public depostes so
10 e. courage the gradual suppression OF the issues of
small bank notes-begnniDg with five dollars and so ON
gradually TO such scale would be found cons e MT
tn the wants and interests of the country Ii cannot
be doubted that sucha law. judcOusly guarded, would
IN short time greatly enlarge the specie Gil cuion and
in conjunction with law changing the standard valu. cs
gold and silver so prevent the undue expectation of
goid which, instead OF forming a material part OF the
currency has, by the operation Of the present laws been
converted into mere mercantile commodiy-a sugges-
ton which the President has irequen iy nade-woud
place our currency beyond the reach OF those ucua.
lions which are now so much complained Of
In illustrating the necessity which existed Tor some such
restraint as this upon the Bank issues the President has
no doubt made frequent reference The vast amount of
such circulation, compared with the specie which il rem
resents and has condemned, in strong language system
that Is well calculated 10 produce and de-
range The sources Of credit. He has drawn the lust dis,
ncion between those classes of society that labor and
those mat DO not those that earn their living by the
oil ther brow and constitute the bone and muscle of the
country, defending il in aud supporting in
and those who live by their interests in and the
various specuations ha favored by an exension o
Bank credit He has endeavored to show that the burden
OF the present system falls almost exclusively UNI The
iormer class, and that while they thus injured here
can be no benefit to others TO justly lis continuance
In this view OF the subject, be hardly
to notice The various statements that the Bank
have made OF the Presidents declara ions re- those
who borrow money. III there be any among the yatious
Committees that have coDversed with him who ealIy OBJ
Jeced TO his views liz regard 10 the evils of extensive
BANK loans they have doubtless his
words, or the sentiment they intended to express
No man OF candor can suppose that the idea that ali bor
rowers OF money ought to break. that credit in its pro-
per oTn should be discouraged even for nj
harboed by The President. Yet every one must see that
there are excuses in the credit favored by the
BANK ng system oil The present day. which are calculated
10 do ncaicuIable mischief and which may ell call forth
the severest rebuke from the patriot and statesman
On this branch OF the subject feel assured that the
PRESIDENT must have left upon the mind of all who have
conversed with IN, deep impression Of his solicuds 10
see the Iahorng class OF the country freed from the upne
cessary tax which IL now pays TO the evils of banking:
aud that he has expressed sentiment in regard TO Other
classes OF society, which contrary to the wish that
their interests should receive all the consde ration which
The legislation OF Congress could bestow upon them con-
sstent with the general good His motto IT, et labor have
security prosperity will oliowal other rest IN
on u, and must flourish If il flourishes.-V Globe.
BLOODLESS ASYET."-rLAY
The Telegraph Of I'll city--lhe Commercial IoteiIi
gencer-et III omne genus-have attempted 70 raise hue
and cry that Mr. Kstz killed by some one in an
ARRAY aia late Bank meeting in Philadelphia Whether
injured by OF his drunken associates of the meeting
for ,ir