Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-22

which might not be entirely subservient 10 Executive
views; and Of promise Of future favors TO those who may
not as yet enjoy its avors Between Tie two the banks
would be lett without influence, honor honesty and
system speculation and stock obbing would commence
unequalled in the annals Of our country"
$50 long as the question is between Bank of the
United States incorporated by Congress- and that sys
TEN Of banks which has been created BY the will of the
Executive, il is insult to the understanding to dis
course on The pcrnicous tendency and unconstitutional
ity Of the Bank Of the United States. To bring that
question fairly and leglmu,ely you mus! 60 one step
ialeryou must diu0rce the Government and the bank.
ing system You must refuse all connection with banks.
lou must neither receive pay away bank notes. you
must go back to the old system of the strong box and Of
gnid and silver II you have right receve bank notes
al ni-to treat them as money BY receiving them in your
dues or paying them away 10 creditors you have right
10 create u bank Whatever the Government receives
oHd treats tn"ney, is money! and II it be money,
then they have right under the Constitution to r-gu.
late it. Nay they are bound by high obligation IN
adopt the most efficient according to the Of
that which they have recognised money give TO
the utmost stability and unifu nifty Of value And if it be
in the shape of bank notes The cfoien, OF
giving those qualities is Bank OF the United States,
incorporated by Congress Unless you give the high.
practical uniformity IN the value OF bank notes
lung you them in your dues and treat them
as money You violate that provision Of the Constitution
which provides that shall be uniform throughout
the United States There is other alternative. re-
peat must duOrcc The Government entirely from the
banking system; or If not you bound ~ incorporate
bank as The only sac and efficient means Of giving
stability and uniformity to the currency And sliopld
the deposes not be restored, and the present Illegal and
unconstitutional connection between the Executive and
the league of banks continue, shall feel it my duty if
else moves, Introduce n measure 10 prohibit
Government from receiving or touching hnnk notes IN
any shape whatever as the only means elt nj giving
safety and stability 10 the ncy and saving the coun'
try from corruption and rum
Such were my sentiments delivered four years since,
on the question OF the removal Of the deposiles, and
now standing record; and now call your attention,
Senator'S while they fresh in your minds ami be-
fure other extracts rend To the opinions then en-
tertaned and expressed in order that you may compare
them with those that have expressed and the course
pursued the present occnson In the first place,
! then expressed myself explicitly and decidedly against
The banking system, and ntlmated, in language too
strong 10 be mistaken that The question was lhen
bank or no bank, it is, lar as Government Is
concerned would not be found on the side OF the bank
Now, ask appeal 10 the cand"r OF a even the most
prPudlced is there any thing in all this contradictory
10 my present opinions course: On the contrary,
having entertained and expressed these Opinions could
T. al this time when The issue then supposed Is &C.
tuay presented have gone against the separation with.
out gross inconsistency: Again, then declared myself
utterly opposed 10 combination league OF State
banks being The most inefficient and corruptIng fiscal
agent The could select and more objection.
nble than Bank Of the United States. again appeal, is
there sentiment II word in all this contradictory 10
what have SAIL done the present occasion? SO
far otherwise is there perfect harmony and coinci.
dence throughout, which, considering the distance OF
time and the difference Of the OCCASION is truly remark
ap!e and this extending 10 all the great and governing
questions now at ISSUE /:
But The removal ut The dePost"s was not the ohiy
question discussed that remarkable and important scs.
sion The charter of The United States Bank was then
about to expire The Senator r" Massachusetts near
est TO me- (Ir Websler) then at The head III the Com
mtre Oh Finance suggested, in his place, that he in.
tended 10 introduce bill TO renew the Charter clear
ly perceived that the movement, It made, would n''i
~ - on the broad que sli"m of The currency; and
f any connection Of the Government WIN ,ne ohhhs
coud be- justified nj Gll il mus! be ~ mai rria'oh'
am not among those who believe tlat tne custe".y
was in a sound condition when the teposes were re-
moved in 1884 | then brevcd, and experience mas
proved was correct that ii was deeply uhd ua6ssioa''
IL diseased and that the most efficient measures were
necessary 10 prevent the catastrophe when has since
fallen on the circulation of tile country mere was
then not more Than one dollar IN SPECIE, on an average
in the banks including the u ) Bank ana ALL lot 81"
of bank notes in circulation, aud not more tnah one ~
eleven compared liabilities of the banks, ana tns WINS
The u S Bank was in full aud active operation, when
nroyes cuncusivy that its charter ought not 70 ne re-
ncwed if reuewed at all, without grent moa'hca''"hs'
saw also that the expansion OF The circulatoh sredt
then was still farther increasr that inc disease Jay
derp IN the sysem that the terms on Whch te CHARTER
of The Bank o.! England was renewed "o"'u give
western direction specie, WHICH, instead OF cotecoS
the disorder by substituting specie Tor oaiR H"'tS ~ our
circulation would becouie The basis oil new oanking
operaurs that would greatly increase lie swtlng uoe
Such were my conceptions then, and hnhes'y a"G e".
nes,ly endea vured carry them INTO eecl I'D "oe' "
prevent the approaching cniuslr"rhc
The uo,cnI and personal relations between myseII
and the Senator from Massachusetts Alr "e6ster) were
Then no, the kindrst. We stood IN oPp"slon d. u'e
ding session On the greui qnrsl'"h growing
In. conflict brween the Stue represented ana inc "e
neral Government which could mol pass a"ny "''."us
iam;,r unr,pndy feelings on both sIdes; but where
duty is in volvrd am nutln LIE habit o Pr'''.'"e ny
persona relations interfere. In my so'c'ude 10 a'u
coming dangers, sough an interview through CUM
min VI
mr. coursp 10 be pursued We ne and converted lree
~ and fully but parted without agreeing. ieApfeSseu
to him my deep regret al our Disagreement anu n'o'
ed that although could not agree with MN, woutu
throw no embarrassment in his way, but shoulu eei
10 be nv duty when he made his moIon 10 introduce
a bill TO renew the charter OF the bank, TO express my
opinion at large on the state OF lhe currency anu 'e
per course to be pursued, which accordingly 1;u w
IT,, memorable occasion stood almost alone. One par
10 summarized the league of Stale Banks, and the oer
the II Bank the charter of which The Senator from
Massachusetts (Mr. WebseD proposed TO rene" lnr r
six years Nothing was lett me out 10 P1ct ln1seI
S;S,c,v beor. the country on The ground occupied,
which did fully and explicitly in the speech dell
vered on the occasion. In justice 10 myself, ought 10
have every word Of it rend on the present occasion ~
would OF itself be full vnd'clllnn OF my course.
stated and enlarged all the points ~ which have al
r.,dv referred; objected the recarer as proposed ny
rho mover and foretod that what has since happened
would folow unless thing etecual was done TO pre-
ven,t AS remedy proposed use 'Ge nnhA srong
H. S as Temporary expedlent ioFuhca WIN s"nns
r,rds in order To resist and back The swelling use
.; circulation With this view proposed 10 pf"noll inc
issue Of any under ten dollars a, first ana s,.sr
crloin interval under twenty and to refuse 70 ieceVe
tho mites of any bank that issued notes Unoei o
t ~ bs, received The notes Of any bunk that issued
less in order 10 make total separation between the banks
that should refuse discontinue the issue OF so'
and the Others the hope that the influence OF !ne I.
,er with the voice of the community would ulinatey
cnmnnpi Jscontnuance proposed, that The charter
with these and other provisions that might be devised Oy
committee appointed for the purpose should De "
ed for Twelve years two years longer hn The e BANK ian p
Lnsu"a and wisdom Of hs, great aud enlightened ma
II liz nrnnossd expressly the ground OF