Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-08
Twcmty-fIAird Comgress---sd sSess
HOUSE OF REPRESENTATIVES,.

D,
MIR. Mclntire, from the Committee on Claims and
Mr. Lay, from the Committee on Revolutionary Pen
sons made unavorable reports upon petitions referred
to said committees.
The following resolution, submitted yesterday by Mr.
Gamble, of Georgia, taken up:
ReS0red, That the Secretary of the Treasury be d-
rccted TO communicate to this House. whether in his
opnion 1T is practicable convenient for the Depart-
mentto collect and safely keep and dsburse the public
moneys OF the United States without the agency of
Bank Banks and, So report to this House the
best MODE ia his opinion by which that object be
Mr. Clayton addressed the House in favor of the pas
sage OF the resolution lie deemed the principal argu-
ment ia ats favor the existence of the inconrovcrtb
fact, that Congress did possess the power TO charter
interpretations For instance ii would be incompatible
with its constitutional powers to grant charter to an
institution of that kind in Phladephia yet by the pre-
sent system OF deposics, make of corporation
created by the State of Pennsylvania. He asked if we
0d not, by this course, by indecton accomplish that
which we could not consttutionaly by direct
conipIsh' lie subject for inquiry was, to if
could not separate ourselves entirely Government
from all connection with banking nstitutons-not only
from the Bank of the United StatcR but from all local
Banks also. We told that the Bank of the u States
with its twenyour branches is incompetent TO the dis
charge OF the fiscal affairs of the Government. Not
from pccunary inability, but from legal and other su
Gent objections. He asked why these objections
would not apply equally TO the local institutions? lie
thought they clearly did We have been told said Mr.
-, mat tins great moneyed monopoy-this monster
had intcrercd with the political affairs of the country
arrayng itself in opposition to the Government itself
lie would ask where such q moneycd influence could be
placed to be more dangerous to the liberties Of the Poo
pie than in the hands Of their rulers? Mr. c. said the
resolution of his colleague (Mr Gainble) was merely
one OF inquiry, whether the fiscal operations of the
ty could not be properly managed and at the time
dispense altogether with Banks and banking institu-
tons. The People of tie South believed they could
and had ever been opposed TO mOneycd monopocs
Mr. Allan OF Kentucky said it not usual 20 discuss
mere proposition Of engrossng. There was however
some Misunderstanding upon this subject He had read
the supplementary report of the Secretary oftle Trcas
ry, to which reference had been made and certainly
did not contain all the information required bv the reso
luton. The report from the Department was elaborate
and recommended the State Banks as the fiscal agents
Means had reported BILL in accordance with the re-
commentator Of the Treasury The resolution how
ever went further and called the Secretary to
whether is Department could be conducted i'm rcfc-
renee to the Keeping and disbursement of the public mo-
neys, 1ri0W any Bunk dgcRcy trhaLooor This infor.
nation the more desirable at this time becaurn IF
The determination which had been expressed in certain
quarter, to resort speedily convenient to hard
money currency circulation. IL the plan which had
been recommended by the Treasury and the Committee
OF ways and Means which proposed to employ tlc
State Banks as the fiscal agents Of the Government
should be adopted, it would hwar the project of me-
alc currency rs the amount Of paper money would be
thereby greatly increased instead Of diminished and IFS
circulation would also be facilitated by the passage Of tho
bill which had been presented BY the Committee Of WAYS
and Means. If the Secretary Of the Treasury would
present plan whereby The agency Of all banks in corr
Quoting tho operations Of that Department may be die
pcnscd with, il would contribute more than onv tin
else to check the issue Of bank paper which now more
than at any other time flooding the country while
il would, az The time be The best means of further
ing the views Of those who in favor Of hard mo-
ney currency.
Mr. Polk remarked that there was tioc whom ccr.
tain gentlemen this Goor concndcd that the fiscal
operations of The government could only be- conducted
successfully by The Bank Of the United States new
igh seemed 70 nave broken M upon gentlemen and for
the first time they had discovered that no Bank whatever
was necessary for This purpose
mir Allan explained. Hc gave no opinion on The
SUBJECT II bad hccn ccn'cnded By some Chat Bank