Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-03-07
MIR. NASU'S REMARKs

man, which pupaJe notice Yours, Sc s.
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MR. NASHS REMARKS
In answer TO "Civis'' in Yesterdays Integcncer we
submit below report of the observations of Mr. Nash
at the Administration meeting Wednesday last The
report of these remarks has been prepared with
care, and ii it at all misreprcsens Mr. Nash we very
much misunderstood him ourselves. We ask from
"Civis, and of all others interested, an unprecedented
perusal of what believe to be the sentiments of Mr.
NJ on the political topics embraced in the scope of his
hasty address.-PetersJrg Com.
Mr. Nash, after expressing his qualification at the pea
sure he felt in meeting with many of the friends of the
Administration had assembled the said that
he cheerully accepted the invitation make known
ms opinions upon one OF two subjects connected with the
approaching Senatorial election that was no part of
his purpose to make formal speech the OCCASION
or To discuss at length the various questions which
now divided the two great political parties of the
counry but as he sensible that his opinions up
on the subject of u. S. Bank and the policv of The
present Administration in reference the currency of
the country, topics upon which his friends would be
most anxious to hear from him, he should once pro-
coed to present his views upon those subjects He said
that he aware that his opinions upon the constitution
al question of the power of Congress TO INCORPORATE Ma
tiona Bank, was one in which he differed from number
OF those political friends from whom he expect sup
port in the approaching elcction but he deemed il his d
ty distinctly to make known that fact He said that he
should not at this time into any nice criticism of
those parts of the Federal Constitution from which
he deduced that power such discussion was not very
wen suited to popular meeting, and if it were,
the arguments the subject had often been presented
TO the public, that he presumed all those who felt any
particular interest in that branch of the question were
That might not perhaps, be amss Observe that when
the old Bank of the United States, was established in
I|Sl was then proposed and carried in Congress
redera measure, and continued TO be regarded until
expired in 1871. That it his fortune TO attain man.
hood and embark in the active pursuits of life during the
period which elapsed between the expiration of the Char
ter of the old Bank and the establishment of the pre-.
sent That at that period he found the country flooded
with the paper of multitude of small banking nsu
TONS, many of which not authorized by
law, and the whole currency of the country in de-
prcciated and vicious condition. That in this state
OF things the present United States Bank proposed
and called into existence by the Republican Admi-
nstraton of MIR. Madison That Mr.. Madison him.
self, who had been the great champion of the OPP
potion IN l|9l, on constitutional grounds, waived
his objections that and approved the present
charter. The Supreme Court of the United States
had in the time adudged the constitutional oues
ton in favor of the of the power and MANY of
the most distinguished Republicans of the day voted for
H among others he would name the late Governor Plea
SAINTS then member of Congress from the district in
which Mr Nash resided. That il was also well
known that MIR. Crawford Mr.. Gallatn and other dis
tingulshed Republicans held the opinion, and it
was equally certain that Mr. Forsyth the present Score
tary OF State, concurred with them. Under such cir
cumstanccs, Mr.. Nash said, lie presumed all must admit
that il question of construction about which the
ablest and most patriotic statesmen of this country had
differed, and might well differ. For himself he would
say that regarding it original question: he would
pronounce II one of debaeable character but that the
weight ct argument in favor of the right and espe-
claly, if add it, the authority of the Supreme
Court oil the u s., and the many other sanctions which
the history OF our country afforded in the last forty years
This was his opinion upon the abstract constitutional
question of the power of Congress to establish National
Bank, which he submitted to the meeting without
further detail of the which that opinion rest
ed. But with him, and he presumed with the meeting
much more important and practical enquiry remained
as TO the 7cidO and eTpedency of exercising this pow
err That 1T was true, he had been the time of the
charterng of the present Bank and up TO about Nav or
June as, IN favor OF the Bank upon grounds of expe-
dency also; and that he had chung it, until he was
literally forced from by series Of misconduct of the
most unpardonabe character and which in their pro.
gess had de veopcd rresponsibility and capacitv
ne m al u0p
there never had been period since the late controversy
about the Bank had engaged the public attention. that he
ever would have rccharcred the present Bank without
great and material notifications Of IFS charter so as TO
secure greater responsibility to the of
the people, yet he had been of the opinion the earlier
Stages oil the controversy that II ought to be re-caTter-
ed, with such notifications and improvements as the
wisdom OF the country aided by past experience might
point out That leading provision as being calcu
lated to reai and practical responsibility was that
suggested by Mr.. McDulie, by which Congress should
have the to revoke the charter any time upon
giving TO the corporation or years notice. this view
OF the subject hc had urged twelve months ago to the
people of his county in public speech upon the sub
ect But It was not until the refusal Of the Bank to
exhibit It's books and proceedings 10 Committee of
the immediate Representatives of the people and
he became convinced that it had been the real author of
the late panic, that he made up his mind 10 withhold all
iuhcr support OF an institution reckless and irrespon-
si6e IN It's acts, and corruptnQ in its tendencies Up
to That period the controversy between the Govermmen mt
and the Bank had always been charged by the opponents
OF the Administration as warfare waged by the Elk
ccuve upon the Bank but that act served AT least IN
make manifest the irresponslbty Of the Bank even to
the Representatives othe people themselves unless they
would send packed jury to make the investigation.
rms was still further manifested in the unbounded com
pacency with which the Bank protested 10 throw oen
ITS books and proceedings The Committee ofthc Senate
which he presumed it did do with the Exception of few
precious secrets in relation 20 its printing expenses as
disclosed by the late report Of Mr. Tyler That for the
purpose OF presenting to the view ofthc meeting some Of
the nal practices Of the Bank which had made deep
impression on his mind he hoped to be INDUCED in calling
their attention to the following.
ist Its interference IN the policy Of the Government
to pay OF the national debt by sending Cen CadwaIla
dcr upon secret mission TO Europe to obtain delay in
the payment Of the per cent. stocks.
ID Its unreasonable and unjust demand upon the Go.
yernment for Si05S42 H. for damages on the French
bill, which were only nominal in their character, and
while the proceeds Of the bill itself we are told by
,e Secretary Of the Treasury, drawn from
ID. The extraordinary enlargement Of its discounts
from The LIST December, $780, 10 LIST May, 1892 making
an increase ia II months Of 500 OBS 766 It's discounts
being ON the ls December $780, only $40 fO2 3O4 and
on the ls December 1881 extended 10 S63 026 45l and
m four months after to wit the LIST ofMay 1892 car
rcd up TO STO425O7O, with the Obvious design Of en-.
argng the sphere Of its influence for the purpose Of Sc
curing rechorter, it during that very period that
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