Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-03-03

to remove the Secretary oil the Treasury phoef sum "a
cunstanccs But is commended, !hat le - s.r,nr ho
r.,, ninstce TO the Bank, and violated It's oharler ny
c,us;nc The uubc monies be removed, on inc g.ounu
that the Bank had paid valuable tor 'e
use Of them the form OF bonus au that 'ne
tary had no right TO cause lhein 10 We ie - 49, r.
IG, section of its charter unless there was aahgei VI
Cha institution becoming nsolyent, winch was not inc
fact Sir there WIGS injustice done 10 .,e D"hh' nn
;,s charter violated by the removal OF lne Geposes
The Bank did not pay bonus or ee use n I h
rrou e,rIusiye banking privileges Tor twenty years.
will read an extract from the report 70 congress r.
Dallas the then Secretary of the treasury containing
the plan of this Bank charter, wh'ch P'aees us
bcvand doubt at is proposed, that oonus De paio 10
Tive Government BY the subscribers To- the Natonai
Rank in consideration of the cmoumen's TO he derived
fIou an exclusive charter, during period u twenty
years. :; 1,; :, lie
c,conarv with the Secretary of the Treasury TO deter
mine when the public depositcs should ne Withdrawn
from that institution, subject only to the restriction OF
bonu required TO report his TO Congress- intend
ed the exercise of this power as check upon The bank
and punishment for any improper conduct, as we'll as
io.cnabe him to Withdraw the public money whenever
il should become an unsafe depository For example;
an mp1oper interference with The currency politics OF
the country and any corrupt conduct of the institution
would be sufficient for the removal OF the depo.
sites This SIR is the construction which tue friends OF
the Bank in and of Congress- so late as eoo gave 10
this section Of the charter In support OF ths poslon
of the Committee of Ways and Means IN the House OF
representatives on the 18th Of April 1880 The author
shin of this able report is ascrted to the Chairman OF
that committee, Gen. George McDue, lat present the
Governor of South Carona one Of the most able and
decided friends of the Bank and as this report received
the sanction of all the friends of that institution boi IN
and out of Congress- and was even endorsed by the BANK
itself by spending thousands in lis republication with
which The whole country was flooded for the Christian
purpose of engkeang the public mind IN relation 10 IL
/ think it must be received as conclusive evidence
against the Bank This report in pointing out the cheeks
on the Bank contained in its charter comments mus OIL
the 10Th section:
Every thing Gxcd by heaw, md nothing len TO arbitrary
discussion L. ue ha. the Secretary OF tho mT om
sanction Congress- woudhavc the power prevent inc nanh
using its uniusy doPprcssiry una 10 @ Of ,h
% .Is or bea, upon the po,cks of
Government Dcposites from the offending branches u @
would necessarily be reviewed by Congress- 1t IS IN
auary corrective creating no undue o" D'
Here sir is the power (Which has been exercised by
Mr. fancy the Secretary of The Treasury, IN the reoV
al of the deposes) acknowledged by the Bank anu s
friends to the fullest extent. 1t was at the time \h inc
midst of the panic and storm created by the Bank ana
its political aes) sanctioned by the popular branc OF
Congress, the immediate representatives OF the pcope'
and it has since been sanctioned by Inc Vefdc' o 'i
American people. Sir, whether or not the removal OF
the deposes wise and polite act 1t is unecessa-
ry for my present purpose to determine but does se"
TO me- that unbiased mind can review the history D.
this transaction, and the subsequent events w'tl'u
policy measure founded in wisdom and great poIiuca
forecast and executed with degree of moral hrnncsl
rarely witnessed in this any other country. Ater
witnessing the unprecedented alarm ana cons'efhs'o
created throughout this country by the screws OF e
Bank and its panic orators for the purpose OF "hghg
from the fears Of the people renewal OF It's CHARTER ao
all the subsequent developments which have ocen maue
can any man doubt but that if the Bank had been per
mlted 10 retain the public deposcs to tins day, ahu IN
the mean time make all its secret arrangements 10 Apply
lis screws the people, that it'll the surplus revenue
thirty millions in addition 10 IFS own immense prcuh
ary means il would be able To control the currency
break all the State Banks and most OF the Commercial
houses in the country; and in connection with us Po
lca allies and Orators produce any degree OF panic anu
CONSERVATION it should think proper or 10 ST.
cure its echacr by the vote OF two-thds OF Congress
Sir the transfer of thirty millions, One amount o' lhe
surplus at presently from the u 5 Bank TO tue
State Banks would, i'll acontestbetwcen The U: D. DanS
and the People and the State Banks, make difference
Of sixty millions Of dollars against the former, and II
favor olhe latter The President displayed great skill
in commencing the battle, and drawing the enemy hTs
before he ready the only measure, which couI'
have saved the country from the curse OF another GauS
| think have established that this is great consul
uonal question: and that the Senate ought not to have
tTs'n journal Tsi r' tEciase ihsy had no right 4
co so ana consequently r'"r" gully of pal pale Iiv hn
easc i, contains gross .s"a. n9d escui-ht
charge, "tia the President in the late Executive pro-
c"rdings III relation the public revenue has assumed
upon himself authority aud power not conferred ny the
Constitution aud laws but in dcrogaon of both, being
false and groundess Let us now enquire INTO TIC mo-
lives Of the majority of the Senate in adopting hls most
extraordinary proceeding against the PreS!deht ana as
certain whether they entitled to the high claims o
patriotism and disinteesedncss which their friends as
c!bc 10 them. Sir, am well aware, that it is difficult
task pry into the motives of men, but their acts some
times give such striking indications of them, that they
scarcely be misunderstood, and this Is remarkable
case of that kind To FORM then, just estimate Of the
motives Of this majority, it necessary TO bear in mind
that four of their leaders either had been then
asprants to the Presidential chair That one of them tie
author of the resolution the disappointed and defeat.
ed rival of the President himself; another OF them had
been very recently mpee!y Frustrated by the Presi-
dent, and his tavorile scheme of Notification and
Southern Conlrdcracy blown TO atoms; and those two
and other at least OF the most conspicuous actors
in this great drama were the most malignant and vin-
dctive personal of the President. In addition
to this The Vice President known TO be the choice
OF the great mass Of the Presidents friends, as his sue
ccssor; and unless the President and his party were
broken down. he would certainly be elected, to the great
chagn of these asirants in the Senate Besides, the
charter of the Bank of the United States would
prc act to it. for twenty years had been We
iord by the PRESIDENT and unless his party broken
down, as 10 prevent MI Van Buren, from being elect
ed his successor there could be hope for the Bank
Sir when all these circumstances are taken in connec'
ton with the gross viluperation and violent invectve
which was Numbered by these from the Senate, for
one hundred days. the mind must be brought rressb!y
the cnnclusion that this resolution orig mated III The
most malicious and Yndicve feelings, and that it was
Intended by Its adoption, to brand the FAR tame ana re-
pulaton of the President with namy, and place last
ing record of it on their journal and 10 break his Adj
ministration down, and build up its ruin their own
party, and new Bank. Sir, we are nplored by the
gentleman from Cupcper, not to iDfuse poison into our
party struggles BY the adoption Of the resolution in your
hand. would say 10 that gentleman, that the poison
has already been infused by the adoption Of that infa
resolution by The u S. Senate, and that it can be
erad'cated only by expungng it from the journal Our
object is 10 nusc poison, bu, to extract that which
has been infused by the vruence and malice Of Tie
Wing majority in the Senate. 90. . I:.p
We have been told, that this resolution ought moi a
pass, because it is intended to disgrace and mark with
iniany, the majority of the Senate, who adopted the
md u.nh a.a haan