Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-03-12

i
years with all the sanctions ofthc legislative executive
and judicial authorities, it TO deemed viotion Of
ne rgnt Oh private opnion TO consider constitution
atty OF National Bank question fore ycr settled and
at rest? IL precisely on this ground that MIR
MADISON III lsl0, signcd the charter OF the present bank
was, says he. I'm conf rity To the respect due TO
deliberate and reiterated poccdts that the Bauk of the
United States, though ON the orr na question held to be
unconstitutional, received TIE Exeoutiv. SIGNATURE
Can in the face OF such facts and such au.Lor;
~, deny tho possibility voting for recharcr of th,.
bank, on prlongation OF it for limited period aud at
Tue same tnie OF AGREEING entirety and eraciy with
resolution which simply and nodcsily declares iha, h,.
~, assembly cannot recognize constitutional,
The power to establish United States Bank"
But there was another argument advanced in ISL
! be continued. ~
Mr.. Brent, of the Senators from VIRGINIA m,dc
this dcclaraton" Admit sa VS. he that the establish
mcnt OF the Bank, at its was
SUM- ~ DC demonstrated that the existence iccllatcr
ing OF the Bank is Indispensable highly cxpctent M
present, that which improper or even unconsttu
tionai ut first, because il necessary becomes
constitutional and proper, because now cxpedie nj
or essential. 1t predecessors i'm Office bv Tho
creation OF Bank have placed our fiscal conccrns
IN such situation that it cannot be put down
without great injury to the revcnuc--to commerce
70 our public crcditif this be demonstrated tn bc
The result OF putting down the bank at this period woId
ask whether that institution which was S
because not necessary does become propcr
almost indispensable at present." This broad aud l,,;
luminous doctrine which permits man consistently 10
take ono course to-day, and directly the nppos;
row, was illustrated by Mr.. Clay conduct on This vsr
question Mr. Clny, in 1911 voted apaiust the onl;c
BAN Of fba Init
states because lie did not think il necessary Bu, i'm
iSlG, he thought that the government could dencnJ no
longer upon the local banks the state of the
cy was suci that no thinking could
without the most serious alarm; that IL thrco,ened r
raj Distress If il did ultimately lead tn convnis;n,
ana suoyersion otthe Government 1t appeared to him
10 be the duty OF Congress TO apply a remedy Nh
tiona Bank was proposcd and he adopted il, holdn,
TO be necessary and proper and therefore constitutional
III evident that similar on the present occn
son, would be most IN accordance with the views and
eehngs OF that party, who rejected the amendment in
su4ng our Senators TO vote against the re-charter of
me Bank OF the u States. The language used by e;r
leader, places beyond doubt their real opinions How,
can yon interpret such expressions these :-ssI am IA
fixed (hr Leigh in the opinion that the present Rank
or any other National Bank is unconstitutional no any,
gentleman can possibly be. But there is wide and obv
Gus dhrrence between the question: whether an act shall
DC done whether particular system shall be adopted.
and the question after the has been done AFTER the
system has been adopted whether it shall be nndone or
reversed; ana his though the question in both cases
aIhc' may Involve point Unconstitutional law" Again
at is not right (AIr Leigh) to pay no regard to
ng facts which have already worked their effects no
regard TO the actual circumstances of the nation which
however produced, nowise be altered" What ore
The actual circumstances ofthe nation what arc the c
ecls which nave been produced by the United States
dissolution ~ teS
The Wings may answer this question: "Let gentlemen
(Mr. Lcigh) number the amount of debt due i'm the
western country to the Bank of the United States
let them reflect on the vast proportion of fixed landed
Tipi'ai' compared with the active money capital of
that country and then let them ask themselves
whether any people earth will or can reasonably b,.
expected to abide with patience the sale of their
y, OF their very dwellings, under the hammer of III.
auctionecr when, for want of sound currencv ;t,nS
DE sacrihccd IN order TO pay debts due to the Bank of
ihe United States in which their direct interest as stock
holders is comparatively trivial? HhcLhtr Il be NOT mn,
"se and cruel 10 put Me patrotis Of ana peo 10 sucd
tSst erets rapidly approaching may serrc 10 sho,c If
u snail be presented acheter the charter of
e b0nh shGu not be rene,ced because unconstitutional
or INC Cnton, and with it, of course tie soloie Cont
eto" Sh0 De P an jeopardy, the people will weigh the
SUBJECT with anxious and deliberaton" NJ. ore
80 tI,o
recent disclosures of the condition of the State Banks
nave convinced him, that the metallic basis ON which
our system OF bank paper currency is altogether
700 narrow ana ought by all jndicous means pract
cable, to be wdcned. How is this dangerous and
critical state OF things to be remcdied - Nav
It seems TO me quite pain says he that Sif;ouo
BANK may DC made far 1lOre efficient ;us,r,,,ncu,
man Me state Banks ean possibly be, tor gradually con-
us own paper circulation and that of the State
Banks and thus tor introducing hard money currency
IN place OF the Bank paper currency that shall be drawn
M and IN the end, reducing the whole system State and
federaI to state i'll which it may easily be limited or
abolished lfhe Bank as this party profess to brliccvc
mas become SO interviewer with the very frame of the Go
Vernment, that 1t cannot be put down without endan
gcrng the prosperity, peace and existence of the Linton
are they not constrained with Mr. Brent to declare thoi
the Bank which improper or erel unconstitutional
"rS because ~as not necessarily becomes constuiomaL
proper because no'o onpedient essential liza Ma
uonai Bank be the most efficient MEANS they believe
10 correct the present deranged condition of the curren
cy and to restore the constitutional metallic ,ned;uu orc
they not compelled, with Mr. Clay, TO confess Uat Tie
orcc Of circumstances and tie Hgts of c1Derirce Lorc
trotredto tier taii6ic understandings the neccssit of
Bank as an auxiliary carry into effect ceyli nCo
efS SpecJcaHy deiegdd In lie COnsLituOHF The concl
sion IS inevitable But the recent course of the Whig
party is still more conclusive TO their real design
Inc Republicans OF the present Legislature thoupht
their duty 1T an carly day. offer a series of resoln
tons Instucting Senators to vote AGAINST The r
Charter OF the present Bank the Incorporation of any
NATIONAL Bank whatsoever and against the restoration
OF the Public Deposites Their reasons Cor this coursc
were numerous and obvious They knew the yaguc and
indefinite character of the resolution lust adveried a.
they knew the possibility of evadng for il had often
been done on the ground of expcdency or NECESSITY
ihey knew that proposition TO recharter the Bank of
the United States still the table of the Senate
evidently awaiting the action of Virginia in the choice
OF Senator They knew that the Bank was still pow
criul and acvc and that in form other lis affairs
would come before the Senate for consideration The
Bank had already given notice Of its intention 10 de-
nand indemnity for the violation las was precndedl
OF Its charter IN the removal of The Dcposcs II
hod Claimed damages certain protested hill Of
exchange upon the French government; TO these
damages the Bank had not shadow of claim in
law equity; nevertheless il seized without warrant
authority from the treasury and retained in ia ov,
hands, $lO9COO Of the annual of the country
Onckot our Senators had, dc cared his deter
minacn to vote at all hazards for the restoration of the
public moneys to that daring and outrageous corporation
which was on all occasions, setting itself in defiance Of
law and government.
When motion made to take M these resolu-
tons OF instructions TO Senator'S at an early dav in
the session, when they might have been considered and
decided without material hndrance TO the regular bust
ness OF the House, il rejected by the entire vote Of
The Wing party. This decision having been considered
as virtually test Of the unwlngness of the minority
70 act upon Tins subject, OF party thought
proper TO urge their consideration at later period of the
session, from the conviction part that time was
not left for their proper consideration without injurious
" proracting the length Of our session and tho