Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-04-01
Twenty-fourth Comgress--ast scss
EXPURGATiON or THE JOURNAL
SPEECH OF MIR. BENTON, OF MIssouRi:

ICoScLuDEp.l
MIR b. took up his seventh and last propostion and
read IT, IL was in these Words
Aud whereas the said resolve apd adopt
opern"s dna ss s o % which had the effect Of
m Hat was then making produce panic and
rssdsn Jackson,o Paso his govern tho
, W"O linton with terror and thereby efr
.,os % aaa alarm, o. the people the restoration of
IN support of this proposition, said MIR. b. propose
To read before produce the direct proofs! the prediction
winch Mr. Jefferson made thirty years ago and in which
he described to the life and orcoid the letter the
conduct OF which the present Bank of the United
STATS has Just been guilty.
n. Institution Of deadly hostility existing
strong and oai,eS in it's ssS%n,. is S., %
b;p to meet crisis Of danger
% ke this penetrating by it, branches every pnu Of tho
the dee no eorSrsnon .o sSS Se
hOry ,han that the % any Other
Obstruction could no, tbs Bank Giua What
Me should accept, or withdraw its a Ought to give fur
oe we know first from knowledge of the principles tho
branch and those of stockholders. secondy from he;
To- Inc me me assures and principles Of the
is the s s"s % they support Now while strong,
nus poW9Ilu enemy to perfect suboina,ion its au.
footing o" with asoTs Of the
Sach was The prediction the ulflment took place in
Tue WINTER oil lo33-34 and all bcheld IT, That the
nank OF The United States plotted aud machinnted the
pane ana pressure then produced fact that nobody
u"uuts Ut present, ana few deny. IL a plot
e government and against the property the country
proof was necessary establish the fact il could be
hau IN thousand ways, few OF which will now briefly
enumeTae. 10y
l. ihere was no necessity for the pressure This IL
proved by The fact, that the Bank had made two curta
ments before the pressure and had curtailed c
three millions than she had lost bv the removal of
the deposites The depostps on the fret or
OCTOBER was S9oOS435, of which So O66 SOL remained
unrenoved at the commencement Of pressure and I'M
til 1t was over. The whole wal then was so 7a S74
10 meet and cover This loss, the Bank had crailed by or
gers sent out IN august, knew the removal
was 70 oe made the sum Of 81 066 00D and in October
the inrler sum oil 50 SO OGU making 81 SGS 1856 and be-
ing Tue iuI amount OF all The deposiles and 1922 800 over
80 ua', 10 repair loss oil about S7 millions and three
quarters, the Bank had already called in abou 1c mil,
mons and three quarters. So well did the Bank know
that IL had no excuse for making further curailnent
account Of the removal of the deposes tia, IL ia
not dare TO state that alsehood TO It's own branches
which knew the TRUTH but placed the third curailnn,
Wo" was ordered in January and produced the pres
sure, wholly upon different grounds namely upon The
new measures OF hostility understood to be in contem
PIauon but what places this point beyond the power
OF gt itself to deny Isl that the whole collected
from the People during the PRESSURE and about COO
;,, w ~ III the whole to about $350O,00U
reunited TO Europe, to lie idle in the hands of agents
there, until long after the pressure was over
X Inc parrcidal nature Of the Ban attacks upon the
business, the prosperity, the confidence, and the com
inerce oil the country proved by the nnyersav of
us operations, and the system of its efforts in all parts
ot the country, at the time From Passam,onndd
bay to Aakapas creek from the Dismal SWAMI IN W.
gina To BoonsIck in Missouri, every where that The
Bank had power excite and disturb The conn,rv th
scehe was the same Shops and factories shut wares
reduced workmcn and day laborers dismissed loans re-
FUSED TO business men, and granted o brokers' the ex
ses doubted at some points, and stopped at others
public meetings held; the President denounced Co. al
the mischief which the Bank itself was perneir,n,.
committees sent ON TO petition Congress- ilinerant ora.
'oiS aouessihg me people in the streets, on tavern
steps, even Sundays, TO excite and exnsncrota b
people; the most alarming reports constantly put in cir
cuauon; the whole crowned by the great distress Jhi
lee IN the cowyard at Powelton in the purleus of Phi;
adeiphia by the insulting repulse of the Select Com
miitee of the House of Representatives. ard L d. g.
he oC, H.
Committee of the Senate.
g. The attacks upon the credit and currency of the
Sale BANKS the predictions of their insolvency and the
~ ilaSe mem So were clear proof CT the designs
oil the Bank OF the United States
,i ls' anu 20 produce scene of general insolvency
throughout the Union This attack general against
the whole six hundred Banks in the country bu hottest
heaviest and longest continued, against the State banks
ana especially the safety fund Banks of N York TIE
heaviest artillery of the United States Bank press was di
rected against them, and at the same time he Rant r
The United States lauded in its own publicotiors No
tue only check TO the corruption and political predoi
nance OF the safety fund system and the Albany
when founded and directed il. The Quarterly Review
periodical Published under the eyes of the Rank and
devoted TO It's interests had publicly opened The b,ercs
upon these points, and carefully Indicated every senora
Pont 10 me subaltern assailanis Here extracts
from that Journals which attest this assertion md sbo,v
the true origin of all the assaults upon the name cbarac
ter institutions AID citizens of New York. which per.
vaded the Union and particularly displayed thcmsayeo
IN this chamber during the whole panic session:
~, . from the March number for 1911
ed state by which na'doS The & "G
aud which to make them fec ,5s Snn
cnco On the State Coyemmcn when Plaza was a,S %
m9a purity Of tic state and tho independent spirit or czp
sn sce scem o THIS character ustfatedi what means
so conducive as the Bank Of the United states? 4" ~
(Erom the .fareh nuni5er 6r 1872
Besjcs these cogifivanccs
se INTO one great mnchinc further Of power
ana vested IN Few individuals
mon by means Of that portion public revenue e.
Toe redemption OF the conu loans This is In bo hands
incorporating OF the banks, several yea pGs %
been made toproyic in the distribution such az e,
with them ~ political sentiment places Inc 49,
to
The consequence has been that undue banking
has been concentrated in the dominant os,i NH %
now stand roody control the banking Of the Ss or ~
case Tie United states Bank be not take upon them
selyesthe Transaction Of the exchange businoss.D
Mr. H. referred TO the orders sent TO the branch
es IN January, 1894 for the third curtamcn for cor
robofatOn OF what he had said They all sci oot o;,
a mysterious annunciaiion of danger. without tellin,
what II was; but IN two Of those orders the one f lie
branch at Choroston and the other at New Orleans this
danger distinctly shown b. political and 10 Ina vc
reference 10 the overthrow Of the Administrator and
that the pressure ordered those points was TO cease
the instant the catastrophe effected Here is an =
tract from these orders
The state Of things here very gloomy unos Congress
may soon Ousow contfOl IhRs
to the institution, to preserve II from danger we are bercc
nagedbo limits and "a make
an0meg n great interest anil, etgod sudden edan0s IN rn
these should
,er Of M Bido 10 r Montgomery, Pesilont New Orleans
The next is 10 Mr.. Johnson President Of the Branch
al Charleston, South Carolina dated the Both January
The passage is this:
Or me dyat II hese attempts des'roy ta BANK da4. ~ o,
tnoss ear egntrg aud determination BY spoag
sae profit to psco The Bank entirely teach OF dose
who mediate its destruction"
Mr. b. said that these letters were as plain as such
communications could be expected 10 bs ira 1st;,,