Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-13

perty, and my ardent prayers will always be offered up
for the glory and honor of the Old Dominion The
Their OF States and the kind mother of US all.
tender you, gentlemen, individually and collective
iy health and happiness and my ardent wishes for your
speedy and safe return the bosom of friends IA
miles and constituents.
The statements of the Correspondents of the N. Y.
American and Journal of Commerce bear pretty hard
upon Mr.. Biddle. They arraign The capacity Of his
Bank TO resume payments in spite Of his Wanted pro.
LESSONS. They show to be sadly involved in debt
In addition to these engagements have to state that
the Bank borrowed from the Exchange Bank near 49,,
O00 do!lars-nnd very handsome sum from the North
western Bank of Notwithstanding part of the Surplus
Fund transferred to the Stale by the General Govern
ment. The Bank applied these drafts towards the pay.
meDt OF its October inc:alment, due to the United
Stales-and, we believe Mr. Diddle is pledged to repay
in spece.-lt will be called as he resumes
specie payments-This docks off part Of his three ad
ditional millions
We shall publish, in our next, along with Mr.. Bdde
Letter, the which addressed the 4th inst by
the Bank Meeting of Philadelphia 10 the Bank Conven-
ton of N. York.-They excuse themselves for not at
tending, upon the ground that the Banks Of n had
already determined to specie payments on or be-
fore the 10Th May.
The Wing may display in whatever form it pleases, its
contempt for the dignity of the Press. We feel no in
clinalon 10 initiate its example.
The Wing assails US about our remarks The Ma.
tionnl Bank. What season so fl, for reminding the c
zens Of Vrgnia Of its monsrous features when they
are about TO elect their representatives.? liza Wing lie.
gslature they will probably an Instruction to vote
for National Bank.-But when was there ever a time
suitable for pointing out the "horns of the mon
ster, when they about TO gore the People? When
this very Institution is attempting TO defeat both the 30.
vernment and the People, in the resumption OF specie
payments: When the most respectable portion Of the
Wing Press in New York, is indignant at Its conduct!
LACONlC REPLY
We hs taken the liberty of laynp HPublius "
with riew of giving him more formal reply but
other matters press upon u.s. and deny "scope and
verge enough" AS we have right to withhold "Pub
Illus longer from making his bow, we now lay him be.
fore readers.
One point only we would touch-the right Of Stale
Government TO establish Banking Incorporation MIR.
Jefferson in his official opinion TO the Cabinet Of Gen
Washington, argues most strongly against the consttu
tonoly of Bank of the u Sand then points to the
State Banks Of the Substitutes for it-lt is true,
Col Taylor controverts the right, in very general
way, aud upon metaphysical grounds: Mr. Randolp phi
very much hard money man but we have au.
thentc record before of his opinions OF the right of
State 10 authorize n Bank.-1he fact however, is,
that the stream of authority runs the other way in
totrent-Now and then you may meet with some
abstract thinker, who denies the right; but almost all
the practical politicians have gone for it, and still 60 for
it. The Legislatures Of every State in the Union, have
established them. II would almost be ridiculous 10 argue
to the contrary, before any Of them in the same manner
as the question has been made about the Bank OF the
United States-The point was indeed made, under
rcry peculiar circumstances before the Supreme Court
Of the u S. in January 1887. IL related 10 The Bank
of Tie Commonwealth Of Kentucky, which The charter
established "in the name and behalf Of the Common.
wealth. and declared 10 be Exclusively the property OF
the Common wealth and il commended, that lis
notes were really bills of credit-But the general ques
ton came on as to the right of State TO establish
Bank-It sp into the printed statement by counsel
though it abandoned al the bar The Court decided
unequivocally in favor of the light. Fire out OF the
Judges, then upon the the Bench, had been ap'
pointed by Gen. Jackson; and among them were fancy,
p P Barbour Wayne, DC. The Court decided, that
state may grant acts ofincoporalion for the attain
men of those objects which essential to the interests
Of society This power is incident to sovereignty; aud
there Limitation in the Federal Constitution, It's
exercise by the states IN respect 10 the incorporation oil
banks
.At the time the Constitution adopted, the Bank
Of North America, and the Massachusetts Bank, and
some Others were in operation. II cannot therefore,
be supposed that the notes Of these banks were intended
ts be inhibited by the Constitution that they were
.ondered as bills of credit within the meaning of that
instrument In fact in many OF their most distinguish
ing characteristics they were essentially different from
bill, of credit any of the various forms IL which they
wee issued
eff then the powers no, delegated 10 the Federal Go.
vernment nor denied the States, retained by the
States the people, and by fair construction of the
terms bills Of credit used in the Constitution, they do
not include ordinary bauk notes; does ii not follow that
be exercised by State?
"a uniform course of action, involving the right 10
he exercise of an important power by the State Govern
nens, for half century; and This almost without quPs
tim is unsatisfactory evidence that the power is
riphuly exercised But this inquiry, though embraced
in the printed argument does not belong to the case aud
is abandoned al the bar.
Pubus may indulge his doub Is; but he will scarce
make converts. The disease is not in the States having
no power TO establish by charter but in their havin
too much; and abusing what they have. II PublIus will
90 with US in radically reforming, not destroying, the
system and lying up their hands by adequate restrictions
we could Join heart and hand with him-and he might
save himself from all reors courteous, qups modest
FOR THE ENQUIRER.
"Of Government the properties Il unfold,
Would seem in mo to affect speech and discourse;
Since am put TO know, TINT your own science
Exceeds, in that, the lists of all advice
My strength can give YOU"
Come, MIR. Enquirer, If we quarrel in print, let Us
quarrel by the book e1rivocation may undo u.s. we
shall not hope exceed the retorl courteous or at far
thes, the ouip modest. Pubus is that he
has minated opinion that National and State Bank:
crest upon the same foundation politician IN his
lecns could not make blunder so bald and papable -
But Publius does think, lido no, be sarlledD that The
States have no better constitutional authority TO establish
banking corporations, than the U. States. He goes
step farther and says, if there be any such thing de
grces of unconstuonaily the Stale Banks are snper
dlively unconstitutional. This is perhaps not prevn
lent opinion even amongst SubTreasuryites, yet is il
earessy avowed and implicitly believed, that soone
or later il will be the settled doctrine Of The county,
Hacaa est reritaS Ell prcraleJit.
Pubus en,erains much respect for party feeling ont
party considerations because the stability of adminstra
ton in popular Governmcnie depends upon the due
preservation of party organization. STILL he can neve
consent TO be severely CALLED by it's shnckles and wher
they do so, he will not hesitate to break them asunder
and redeem his own freedom Of thought and Politica
action: and the privilege he claims for HIMSELF be shoulc
be- and he thinks he is willing 10 yield to another, ever
though that other, be the public organ OF party
The Enquirer asks "who has denied 10 the States the
rich, to establish corporations and Banks" | will tel
him Has not Thos. Jefferson denied them the rig Il
establish Bankse Has not John Taylor Of Caroline, a.
MED them the right? Has not John Randolph Of Roanoke
denied it to them All of them, too State Right Poitl
clans of the sraitest SECT Surely Pubus has great
" misconceived the sentiments and opinions OF those
iusrious patriots and statesmen if they were not de
ha. tho aalicu and Of esiah li sh