Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-03-25


ed, to places where was to be dsbursed; for Sc
curing punctualiiy in the payment of revenue. and
that IT WAS eminenty useful in the facilities il fur
h'shed to the government TO meet the public de-
niands IN cases of exigcncy. Mr.. Dallas, the Sc
cretary Of MIR. Madison, accorded with MR. Gala
I'm, and gave it as his opinion that the Bank was
not only necessary and proper, but to ndspen-
sable III tho collection of the revenue.
In the short period OF five years, which inter-
vened between the expiration of the charter of
lI9l aud the charter of the present Bank near two
millions ofdollnrs were actually lost by by the failure
of State Banks and not less than twenty millions by
the deprecated value of the currency in which the
revenue was collected, aud money was borrowed
Tor the use of the nation. Such was the force of
the necessity, that those who had thought a Bank
neither necessary or proper, within the meaning of
tue Constitution, were compelled, in the face oftheir
former opinionst to yield all objection, and heartily
concur IN measures which they had but few venrs
before warmly condemned.
he public revenue is received at about ten thou-
sand places, and by many officers. Since the
establishment of this Bank not cent which came
10 their possession has been lost. Within the Inst
fourteen years upwards of three hundred millions
OF dollars have been collected and disbursed over
every section of this extended country. In nnny
instances It has been paid out thousands of miles
from the place where it was collected, and without
cent OF Charge to the government or the loss of
a dollar to the people. AT the same time the bank
mas gwen TO the country the most sound aud uni
form currency in the world; from the ease will,
winch II may I've transported, is better than specie
ITSELF for it has not been unusual i'm times pnst IN
give premium in silver for the notes of this bank
Merchants have been enabled to pay their dues to
the revenue oicers-country merchants to the civ
merchan's ana the farmer to pay the retnl dealer
py Tie ISSUES oil this institution, and Others which
have grown into credit under the salutary checks
which it has imposed upon them Commerce has
rcviveti and with it the revenues of the country
From the greatest dependence i'm agriculture and
manufactures, cheerful industry and active enter.
thp ,c
ment has gone abroad in the land and from one ex-
IRENE oil this vast continent the other the people
are prosperous and happy. Is itascrihing too much
to The influence of the national bank say, that most
OF tins cheering state of things has resulted from the
currency it has established? think not A sound
currency is to the body polite, what the blood is to
the human boay--he very principle of its vitality
disturb Its hcaty action and pale and wan dis
case seizes the system, its energies are paralyzed its
powers of usefulness destroyed, and unless its
health is restored, ekes OFT miserable existence i'm
a lingering death. Mr.. Churnan-Icannot reprcss
the warmth of my feelings this subject am
speaking IN Dehaf oil my constituents, whose inter-
est and welfare most earnestly desire, and for the
advancement Of which well know much depends
upon this institution. 1t furnishes the active princi
pie OF all theIr comnerce-it gives impulse to their
oor, ana to that enterprise which is converting the
forest 10 the control of the husbandman and max
ing 1t subservien to the happiness and comfort of
as bold, as honest, and generous people as this
Commonwealth can boust. In addition to this. I
represent on this floor single manufacturing in
terest, whose annual product is more than half
million of dollars in value.
This entire product finds a market in nil the
western States, and the returns are i'm the circulate
ing medium of the places where it is Sold Hither
TO II has been chiefly in the paper of this Bank De-
siroy u, and we return to the period of 1914 rs
and 'I6-a miserable and beggarIy account of rags
and trash. hear it has already commenced. A
currency with which could not pay my way to this
city, IS already taking possession of my district.
The salt works of Kanawha, now the most yau-
able and productive property in Virginia, evying its
annual contributions all the western States must
become almost worthless. Remember we are your
western brethren and justice to us requires your re-
gard. DO not pass this obnoxious resoluiion-,lo
not AID IN the destruction Of your felow-country-
men, to crafty your love Tor idle theory-re-
member that when danger threatened your borders
we came with alacrty from the mountains to defend
your homes and your fresides-we nre ready to do
1t again. Do moi, l pray you, when dangers hang
around lis, unite with the enemy to bring desoation
upon u.s. This Bank has been to the west as kind
rareht-lt has supported in the winter of our tolls
ana promises to us season of cheerfulness and oy
10 yout has done no njury-if there is any vice in
It's formation, correct it but do not, pray you aid
III It's destruction.
MIR. Chairman, have exhausted myself and
rear, the patience of the Senate return them nv
hearty thanks for their respectful attention.