Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-08-02
POLITICAL.
From the LaHrnsier (P.) Mtc'igsnccr q July ~
MIX. BUCHANAN'S LETTER. ,


rishiur the hope until the very last moment tht mgat
be able attend. Such, however, Is sun luz sa'e "
the public business before Congress, that hu 'hyse
com,pd either To fcgo that pleasure or 10 Volate my
public duty must, therefore. though very reluctant
H. DENY myself the qualification oi meeting many |" my
valued friends upon an occasion "ic'' Tue present
crs= in our State affairs has rendered peculiarly hte
resting. ,. a.,
Amidst tho general burst Of gratitude and joy which
never nils to distinguish the successive returns o mat
day which made free and independent people: 1t ~
deeply TO br deporcd that dark and p"entouS cl"aa
should OIL the present anniversary hang over the future
prospects Of reunsy vana. This has arisen r"Hi the
attempt made by last Legislature 10 pr!pruac the
existence OF the Bank of the United Sates By granting
II 4 charter for period Of thirty years
There yas no State throughoulhe mon where the con
duct of this Bank had been more loudly condemned ian
N PENNSYLVANIA very large ma orlty OF our cll'zens
yee deeply aud soemny convinced, that thlS vast mo-
lrd monopoly dangerous to our lIberrs' ana 10 G
,urity Of our Republican Institutions Hheh e''s''
Jackson in lc vetoed the charter 10 extend Tue u"a
i'm of this Bank for period OF fifteen years, he paceu
himself before his country upon this very question:
iowitlstln ins the prodgious efforts OF the Bank 10
lca his re- rlrlun, victory did not desert the banner
f the patriot chief al the head OF our government
n this desperate struggle, Pennsylvania led the van
She lElen, where trust she always may be- 'ound'
DrrrosL in the in the OF liberty against mo-
itt bower She deliberately and sOlcmnly decided
,gins, the rrciarcr of The Bank by very large ma
lori,v Al the Presidential election OF e' thiS iist'-
uon was dno!nrd to destruction by the indignant pc
nocracY Of the Union: aud it was tondIy hoped tnhl
his aptating question had been put al rest forever oy
, he Triumphant r.-ecc,0n OF General Jhcks"h'
But the bank during the session OF l'j3 made aho
her and SlIlI more desperate rll'r 10 oota''i
er from C-nrrrss. Ii attempted to cXlort from me
:ufrinus Which H. inflicted upon the people OF Inc mi
r, STATES that hcl had been denied to il by Their vo'
untary sutrancs. The panic and The pressure "ic'"
It then produced will he Indignantly remembered as long
Is our country shall endure. They Will he beacon 10
future generations against the dangerous t'"u''cE
If vast masses vi associated wealth. controlled by SIN
.c will in the form OF legal mnnopo'cs Every ehort
which coqurncc could cXert-crery influential press
which MONEY could put in motion, was used Tor 'hE Pn'
of rendering General Jackson oh0IS IN tile eyes VI
the Anne IAN pa pie he denounced as tyraht, an
lsurprr and despn; and to such height was pnpic
Indignation raised against him, IN many portions oi te
e Mon Tat he received hundreds of anonvnoiiS rt,cfS:
! threatening him with the dagger OF the assassin. CnH-
nttrc after committee waited upon him To assure MN
; hat there was mode o! saving the commercial COM
nunity from impending ruin and almost universal GaH
uptcY but by restoring the public dePosites IN Inc 'aN
the United States In that event. It's re chaleF "ouia
lave inevitably followed.
Daring this OF pressure and OF pane; thce was
~ av lui pause ruug out the land The stnurst hearts
Juailrd Many of the warmest friends Of Tie PRESIDENT
we're in a state Of doubt and desp"ndency But he STOOD
.lnmoyrd lie was til" rock against which Inc stoli
1cal in vain And as II to convince all mank" ''a'
his scene of individual suffering and general distress
had been produced by the Bank, merely tor the purpose
# promoting its selfish views it dsappcaret as
ny enchantniei, at the vrry moment when lht buhh
abandoned the hope of exorng from the suHerlnss oi
the American people, restoration Of Inc deposies ana
4 CONSEQUENT renewal OF It's charter. The troubled eie-
uents were then instantly; hnsed into peace; ana uni
vcrsl prosperity more beameh upoa our country
The bank proved by its conduct III lInmeaiaeiy 'N-
ending it's loans, that the necessity Tor cura!lhcht,
which was lis pretence for creating the pressure, mad
no existence whatever.
During this second struggle, which was much 'noIc
crrir than the first, the people and the Legislature al
Penn. yivana stood firm and unnoved lhry again ue-
,;I,I tn,i,
:iarrred 9
any individual vino SHOULD then haze predicted mat
within w short wears the Legislature OF llHs very te
would re- charter this very Bank for period OF lirty
,ra1s will, powers and with privilege greatly BEYOND
what had ever hcen conferred upon 1t by Congress -
Would he not have been Instantly denounced us ;ise
ropIrt who desired 10 fix foul stigma upon Tie le'E
rba,ac,rr of the Key Stone State; This Bank re'char'
erred BIZ the Legislature Of Pennsylvania, and that to-
.ur thirty years. when the act OF Congress vetoed INC
President had limited lis existence 10 0ny hcrh! NC
cartrriwilh power hold real estate forever; "iei.
this act Of CONGRESS after i: experience, had requires
to sell within FIVE years after II Should acquire INC ''tlr
Re.carlerrd with power T. purchase ana deal IN al Puo'
lie stocks n the Sta,e-in al! stocks OF companies III
col puraed b. the State tor the construction Oh ihra
;,prroy4mcr,s-n ali loans such cOmpanies-and gt
ncraIy in all other stocks pletgcd To II as security "r
I,bls and daily rdcemcd when congress, ofraa''s
he influence which t!i"sc stock Johbng powers lh'e
,,nIr pc, IT, haI under I'a original charter expressly
denipd TO it ali such dangerous privileges. Re.cnartcr
I'D with power Ia debts IN double the amount u
- c,nilal. when It's original charter had expressly de-
:lard tina. it should never owe more IMAM that amount
And vet all this has become matter o! history.
has Errn said that this bank which, when chartered
nv ,r United States we all believed TO be dangerous to
the rights and liberties of the people OF The uh!on ouSh
not ins us with alarm, because II has oeel re
chartered by singr Slate. Bni has this enemy "hch
.or so nu period maintained doubtful contest agains
the Democracy Of tweniyiour sovereign States, WEI
Andrew Jackson al lis head, brcome less formidable t'
he peopIe Of one If these States within which IL may
mug concentrate all It's powers and all lie cneTgeS-
las il changrd its character by changng the source
whence il derives lis charter: Does your Toe Deco"'
ess capable Of njuring you, as your power OF eSS'a'I
rconlrs weaker and morc Contracted: srcn ars"'e"'
IAN deceive nuOody D
vlvnuja is the very same monopoly which las hereto
,,re cnuyuIscd the country; with the same caP!ta'
s25 600 U9lu owned by the same stocEh"lders r3GtP
Inc United States, and guided by Tie sane cohlrots
,U )C IFS Tremendous power car form s'Iie rSti
nate from the testimony Ut lis PrcSIdrnt IN ic]' Delo
committee OF the Scnae. lie %as is@e" tIle ip'Io"i"
question b. General Smh. oil Maryland, tie ciia''"a
r that cc;ii.irr Has ll Bank al any i:e Cypress
RI ,uv q; in. Stale Banks: His answer vas, " Never
here are very few Banks which might not have brr
, destroyed h. cycI'iun oi the power q ''c p'"
No uerson who has been an observer Oh pasS's eSe's
can duur: the truth Of this testimony -, ..
-, -. ,,nsr and reflect for moment upon the IN
,ort Of This scuencr 'Yherc arc teTH if0 G""hS T"t
,r;rh n hore hccn dcstr"wd hy"a cT'"nn y rs "'rrE
Al The time this testimony was "c'e'ru '"e.e "i Wv"
- ,La II States three hundred and twenty ''hc oliI
Banks, with an aggregate capital of about one 'ande
'"'N H 'i;ns Of dollars Ii il could have desiroye
III these hamks, with very few exceptions, what po*e
~; ~, ~ able to exert over The rtyfour local Bank
q" Ptnnsy whose uni'rd caR'd, aes",dmg l." n
twenty millions OF dollars I:
very great number Of the most respectable either
e PENNSYLVANIA are deefty-in!eresed in these Sta
pks az Presidents as Directors, Cashiers as Stool
Io',s ard as borrowers. Their notes, at present. col
,oi;rn There are but few individuals in tie eomln
r nity hose pecunary Interests are not either direct
w.! -. ;nrolrud in snms nrp Of these institution