Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-06-10
DISTRICT BASK5.

hy tho
anJ M Farmers and Mechanics Bank Of George
h sisted that they did not make proper exerons
~ vod Suspension Of specie payments, and that te1r
so far from bcn necessary, had every appeal
ance Of having been voluntary. In commenting on a
various tables and statements furnished by the commit
tee he commended that the stppage of the Farmers asa
Mechanics Bank for the insignificant sum Of So'oSo'
was of itself enough TO render them unworthy OIL re-
Icharer. Their stoppage either compulsory o, IL rH
voluntary If the latter, it showed an unpafaoH5o'e
want of fidelity to their obligations to the puoc anu II,
on The ether hand, they unable to avoid stopping
for the insignificant Of S60OO it showed that their
were contemplate to render them worthy
OF credit
MIR. b., in the OF his remarks, read and COM
mented on various documents
After commenting at some length the report and
statsmcnts furnished ty the committee, Mr. B. said he
woud oppose the recharer of these banks by all the
means known to parliamentary proceedings; and gave
notice that he would at proper stage of the business
move 70 reccrmit the bill with Instructions to bring in
bill TO wind up the affairs of these banks and to chat
ter a bank banks, with the necessary RESTRICTIONS
and with small capital, suited to the capacity of the Dis
uct.
Mr.. Niles also addressed the Senate in opposition 10
The bill.
Mr. Kent said that the Committee on the District, acS
the most rigid examination of the affairs OF these banks
had unai:mnnsy agreed TO recommend their recharter
They were perfectly satisfied that the banks had been
conducted with the utmost fairness and that they were
perfectly solvent No banks in the Unon he SAID couia
present more favorable statements OF their condition tiah
these banks did and he challenged the gentleman to
sey among those ohe deposte banks by the
Secretary Of the Treasury farcr statements than were
presented by those banks He did not intend o THIS 10
any npuation the dcpose banks Tor he beeVea
that they were generally good and would be able, when
called on to return the Government money III liler
hands. This he knew, at least was the case with the
dcposte banks at Baltimore.
Mr. kiag of Alsbama defended the report Of tho COM
mee and cortended that it was fully borne out by the
most ample testimony. The committee, he said had made
strict and laborious investigation, and aes most rIgId
scrutiny into the affairs of these banks, and collecting
great of evidence, they able unanimously to
agree in recommending their re-charter The comm,s'
satisfied Of the perfect solvency OF these oanSs
and their ability to comply with their engagements anu
that at the time Of their stopPage there was most u
precented run them. He must say, that ne was no.
altorether satisfied that the Farmers and NlecnanicS
Bank had made sufficient efforts to avoid stopPng 'houS
he acknowledged there was most une1anPied run on
thcm but with regard to the other bank there couo oe
no doubt but the most strenuous efforts IN their power
were made without effect to sustain tiet credit the d.
rectors giving their private Obligations for this pur-
pose The committee had instituted the strices nves-
legations for the purpose of erretng any abuses that
might exist and he say tina, the books and papers
freely opened to their inspection by the officers OF
the bank and that there was nothing but what was
satisfactorily explained. With respect to the bill be fore
them, he must say to the Senator from Connecticut,
(Ir Nlcs that it contained every thing he required.
The capitals Of these banks 70 consist OF Specie or
what was equivalent to specie.
Mr. Benton submitted motion in writing to lay the
bill on the table to give the Senators opportunity of
examining the statements of the affairs Of the banks
whose conduct Ind been investigated, and which were
then exhibited in the Senate for the first time
This motion was loot.
After soEae further remarks from Mess,s. Benton and
Kent,
Mr. Wright moved to lay the bils the table, to ena-
Bile him to make report from the Select Committee to
which had been referred the bill to regulate the public
deposites which motion was agreed to- with the under
fho fob Iron arc
was made.
Mr.. Wright, from the Select Committee to which
referred the bill to regulate the depostes Of the public
moneys, made report thereoo, accompanied by new
bill substitute for the old bill and amendments.
Mr.. w. said, to correct some Inlsapprehensions that
might grow Out of paragraph in one Of the morning
papers, that this bill the agreement Of majority Of
the committee and not Of the whole Of them, paris
OF the bill were agreed unanimously sct the most
important part Of it was the report Of majority only
The bill and amendments then ordered TO be
printed
Mr.. Webster rose and said that he had seen in ,ke
Globe Of this morning paragraph hagtously false
respecting his conduct chairman Of the Committee
Finance, that he felt it his duty to say something with
segasdto it. The paragraph was in these words:
IL most remarkable thing, that white ahe Oppo-
sition in the Senate ouery day h.Ee .h s.:So
the seven millions in the stock of the Bank OF nike Uni-
ted Sales part of the surplus in the Treasury ey
contrve it that not dollar of it reach the Urea
sury. Judge White, Mr.. Calhoun, Mr. Clay aad Mr.
Webster are and pointing to the seven mill
lions of bank stock fund tor distribution, Wine
Mr.. Webster chairman of the Committee of FiRance,
holds back for months from the action Of the Sena.e TIE
bills passed by the House of Representatives. to Pro7ae
against the notorious conversion by Bdde of M 1nea:ls
Of the old bank to the purposes of The as~- Tine bill
repeating the obligations the officers Of the Govern
ment under the old charter to receive the notes of the
Bank Of the United States, notwithstanding it known
that Bidde issuing the notes of the old Bank for
the pretended State Bank has been smothered for
many weeks 10 the Senate
Now, he had no other way than this of correcting
erroneous statement, which reflected on other MEN,
bers of the committee, we'll himself majority Of
whom members Of the Administration Terty, and
who could report whenever they pleased. Hea( his
duty to bear testimony to the industry and fidelity with
which every member Of the committee had persarmed
his duties Now, the facts these the bill referred
to in this paragraph, read in the Senate for hesst
time on the 18th of April referred to the Committee
Finance on the day, and reported back the 2st
This was not the first occasion which he had been
compelled to notice The most direct and papabc false
hoods of this journal, which contradictad.by
Its own columns and contradcted By the printed Jour
mails Of The Senate
On motion of Mr.. Kent the bill to charter the Dis.
ric Banks enstaed its place as the sreoiai order
The Senate then adjourned.
Saturday, juno q.
Mr. Walker submitted the following resolution, (which
was considered and agreed to:
Rcsol1cd That the Committee on the Pos1 Office and
Post Roads be instructed to inquire into the expedency
Establishing post feo Columbus Mississippi,
to West Port, Lowndes county, Mississippi.
MIR. Wright submitted the following resolutions, wltioh
lie on the table one days
Resorcd, That The Secretary Of the Treasury be di
rected to report to the Senate the amount of money
in the Treasury subject to draft and also the receipts from
both customs and lands during the month of April
last past, compared with the receipts from the
sources for the month of March last
ResoLucd, That the Secretary Of the Treasury be d.
rected to prepare from official returns and report the
Senate the rates of domestic exchange and Of drafts be-
tween the large commercial towns charged by The present
deposiie banks at their last peturas compared with The
rates Of exchange, and upon drafts charged by the late
Bank OF the United States between the same points OF
different periods.
tee to contract for the purchase of the library of the late