Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-08-02

"f Information. According this statement during the
year !S'2 its domestic exchanges amounted TO S24 -
7l7.9O; its foreign exchanges amounted TO $3 456,737
and It's discounts Of notes and domestic bills stood at
SG6,S7l $40.
But again; the immenae pita and business Of this
bank united with It's influence the State banks,
very far from constituting all the elements Of its pow
er 1t is monopoly which combines in solid pha-
lanx, the large capitalists both Of this country and Of
Europe Their union is rendered lndssoube; because
the object and the pursuit oi all are the same. They
are therefore always ready their individual wealth
and exercise their individual influence for the purpose OF
promoting the power at the bank. However odious tho
term MAJ 10 this bank, has. in fact created noni"d
arisocrac?, whose pursuit is the accumulation
of wealth, and the distinction in society which wealth
never fails 20 confer.
But as if all this were sufficient the Legislature
have conferred upon This bank other OF acquiring
influence the People Of Pennsylvania the extent Of
which scarcely be estimated. The of Educa-
ton and that OF Internal Improvement justly dear 10
the People Of the State Under lis charter, the bank Is
constituted Tie patron orbolh The children ofthe Com
monweallh be educated by its money and 1t may
vest It's mcansin stocks loans to- cnupanes moor
potaed by lie Legislature for purposes Of internal i'm.
provempnt. The enterprise OF our citizens is known 10
the world and when railroad canal is about to be
arrested for want OF MEANS Ill know what gratitude
they would feel to the bounltCl 3eneiaclor who should
advance The money necessary Tor It's compIet!on Ana
what to lie bank, would be subscription loan OF
or two hundred thousand dollars to corporation
created for highly popular aud useful object, compared
with the influence which it MI ht thus acquire:
Is this then, such institution ought to be to!era'
cd in Prnnsy vana any other free country Liberty
is ll:spcran :rut and only be preserved by The
wa,chiui jealousy of ireemen OF all the governments
under whose dominion the earth has been tcsolaed that
OF ronic corporation is the very worst Let the eN-
tortions and the cruelty praclscd upon the suffering IN
labants Of India under the East India Company, at
test the trut! Of this assertion. What may be The cause
it is useless 10 determine; We know the effect.
We might feel the less alarm ii we had any assurance
that he powers of this bank you'd not be exerted
ii sh
+ indulge such hope. As it has been re-
chartered against the vii! Of the Democratic party, con-
shutting large majority of the people OF PennsylvanIa
il! order preserve lis existence 1t mnst engage IN
political conflict with that party Such is the very law
OF lis The from necessity antagonists
Hence the bank Already IL the field cohendinS Tor
political power If it be not arrested IN It's career by the
mighty arm Of the people, it will gradually insnuate it.
sell every where throughout the State, and coil tse
around every interest Of cur citizens, until a. iaSt 'he
whole power Of Legislation ana Government VIII oe u
dor It's .rrrnl We rrnr then have the forms OF Tree
Government wht the substance has departed forever
! II was for these reasons. and many others winch
might he enumerated, that stated IN answer 10 com
muncaton ircm the Democratic Association OF inc
Fourth Ward, Spring Gardrn that the approaching
struggle in Pc.sy wouiI e strugge for LIE or Tor
death The Democracy must either triumph over The
bank! or The bank will crush the Democracy lhank
Heaven! since that nc have had abundant evidence,
that tie free aud manly spirit OF the people rising IN s
might The mountains and the rallies OF pennsylvania
are now resembling with The notes of preparation. he
tccm"n 81 The State are cGtnn5 10 tic IesCuc VI l'e
cwl beloved Institutions
pbe advocates of the Bank have censured the Demo
cracy Of other States because they have loudly condemn
ed the conduct Of The Legislature Of Pennsylvania IN
granting il rc-charter II has been sa!o, Una. ts an
inpoper interference with the rights Of the State ana
an attempt has been madet erect State Rights party
upon this foundation. The friends OF the Bank thus
attempt identify their lavore monopoly with cause
so Justly popular. The Bank is in the held under
the banner Of State Rights! This will ustonsh the Re-
pabIicans Of every State throughout the Union. Can
any suppose That institution which was tried ana
condemned and doomed 10 destruction, as dangerous 10
the rights aad liberties of the people Of all the States,
whilst it existed under act OF Congress, should no"
find hvor in the eyes Of this very people, merely be-
cause it has been chartered by the Legislature of SIN
gle State: In its very nature ctE be little more OF
State institution at present. than was under It's ola
charter single State cannot furnish employment tor
lis immense capital 1t would starre within such mar
row limits Hence find that It is now shooting out
lis branch agencies into all parts OF the Union. Ec
long they will be its former branches
Ii will again orerSyread the end-unlcss the lrglsIu
lures Of he respective States SHOULD take the alarm
Let US do unto others we would that they should
do unto U.s. What then would have been the feelings OF
the people Of Pennsy vana, had the Legislature OF New
York granted recharlcr to this institution: Would
,vc not procaimcdn their cars that they had been
GUILTY of fraud upon &c Union, ny attempting l" heep
alive National Institution which had been condemned
as DANGEROUS TO The peuple of the other twenty lhec
States Would not justly have considered 1t vlo-
alon Of our State rights and prohibited The introduc-
% Il branch
State gltS, like individual rights are best maintained
BIZ doing Justice 10 all mankind and requiring all men
to do US justice If have first violated the rights OF
other States, by attempting, under State authority 10
perpetuate the existence Of odons monopoly, whlch
was national in It's character, and must from It's very
nature and the Of its capital continue TO be ma
ouul: we haze just to complain, II those whose
rights We have thus invaded should denounce our COIL
duct.
The doctrine Of State Rights when correctly UNDER
stood is one upon the practical maintenance OF winch
not only the prosperity bat the preservation o Tile Union
depends Rover from IT'S very nature, IS Always seeking
10 exicnG self The safety and harmony oil our COM
pcatcd system depend upon strict construction OF lle
MOVERS Of the General Government, especially IN all
cases where the rights of the States are concerned
These States have become The weaker parties TO our
Federal compact and the Constitution should contain
clear and plain for any po"e:, before IT ough
to be exerrd in such as to interfere with state
Sovereignty. The bank can never shield ltsel from
popular Indignation under the mgis OF Stale Rights
The enormous increase within the lasl lew years, OIL
hank capital and paper circatn has already inflicted
aud must still continue to entail many evils upon the
community. Our manufacturers our farmers, our ire
chancs and aborcrs must all suffer greatly from tins
cnuse (, has been stated in general terms, by author:
who have written on the sub Jet Of political economy
that if you double lie amount OF the necessary circua
: ting medium in any country, you thereby double l'
nominal price o.! every article. /" If when the circua
,inu nsdun is fifty millions an article should cost on
dollar it would two, if, without any increase OF hf
uses OF circulating medium, the quantity should be III
cien Sod to 4 hundred millions
j. Although cannot apply strict aEithme tca rules td
this subject vet The p,oposca Just stated nppr"ache:
sufficiently c Truth q my present purpose
Let lis then suppose that currency has eacnea such
point Of depreciation, on account OF inc
issues Of bank paper that hen compared WIN couhte
j like France and England whcre the circulating eolun
r. is confined within proper lns an article wio cos
one dollar there would command one dollar anu my cenl
in tho r. n,rd States What the consequences 10 GU
10 nMcc,n-ers: g. premium Of fifty per cent Is thu
rivpn 10 foreign manufactures over these of domestic orr
20 g;n For example, piece of broadclotl costs ioo dcI
% e. ,n The French manufacturer; he brings 1t here 10
te ~ ii - .rcnun, nf tie dcp,cciaton in