Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-22
VOLUME xxxEV.---No. I0o.

far possible to do myself Justice and have en
out much that ought of right be read in INV defence
ia!ner tnan 10 weary Inc Senate know how difficult
Is to command attention 10 reading Of documents but
trust that this, where justice me ,Dber of the body
whose character has been assnd without the least pIo
vocation, will form eption. The extracts are
numbered and will thank the Secretary 10 pause at ID.
end oil each, unless otherwise desired
The Secretary here read the following extract:
Alter full survey of the whole subject, none,
can conjecture no means of exrcatng the country
from lis pIese DANGER aud to arrest lis farther increase
out bank the agency of which, in sdme form or un.
der some authority is indispensable. The country
mas oeen brought into The present diseased state Of the
currency ny banks, aud must be exricaled by their
agency. we must, in word, bank 10 unbank
me banks TO the e1tcn. That may be necessary to re-
store safe and stable currency-iust as we andy snow
10 frozen limb In order 10 restore vitality and circu
alion, or hold up bnrn 10 The fame extract tho
Illumination. All must see that il is ",ossihis 10 sup
press the banking sysle, nj once n "usl commune LOT
time It's greatest enemies and The advocates o an
exclusive strie circulation, make part CT their
St 70 tolerate the banks for longer shorter pc.
roo 10 suppress them at would, ii il were posS
ble work greater reyouliDn-a greater change in the
relative condition OF the various classes Of the commu
NIFTY, than would the conquest Of the country by
wage enemy. What, then, must be done answer, q
ncw and sale system must gradually grow under, and
replace, The old; Initiating, in this respect the beautiful
process which we soInetnes see, OF wounded or dis.
eased part in living organic body gradually suppressed
ed b. the healing process Of Nature"
that my object was use the bank for time in such
manner break the connection with the system, with
out shock to the country or currency, then proceed
and examine the question, whether this could be bsst
accomplished by The renewal of the charter OF the U.
States Bank through league Ut Stale banks. AT.
Ter concluding what had 10 say the subject, in my
deep socilude addressed the three parties in The Sc.
nate separately urging such motives as though, best
calculated 10 act them and pressing them TO jim me
in the suggested in order TO advert approaching
bnD | bpra Ia frIpr IDS n
party and with the Administration. have taken co.
pous from the address 10 the first, which Will
clearly prove how exactly my opinion then aud now CO.
ncde all questions connected with the banks now
ask the Secretary to read the extract numbered Two
Having stated the measure necessary To apply
the reurdy, thus brought 10 the qucston-can The
measure succeed: which brings up the inquiry OF how
far it may BE- expected to the support ol the SO.
vera parties which compose the Senate aud on which
shall next proceed 10 make a few remarks.
First then, can the Stale rights party give their sup
porE that party Of which am proud Of being member,
and tor which entertain strong an a'tachmen-the
stronger because are few among many In propos.
ing this question, am not ignorant Of their long-Sand
ing constitutional objection To the bank on the ground
that this intended 10 be- is usually eXpresseda
hard money Governmental Government whose circu-
lating medium INTENDED 10 consist OF the precious
metals and for which objec: the POWER Of coming
money and regulating The value thereof was expressly
conferred by the Constitution ] know how long ana
how sincerely this opinion has been entertained, ana
IL
luis my intention to attempt to change an opinion 30
firmly fixed but may be permitted to make lew 90
servalnns order 10 present what appears to me 10 w
the true question in reference 10 this constitutional
pointin order thai we may fully comprehend inc CIR
cumstnnces under which placed IN reference 20
it, With this view, do not deem it necessary to IN
auire whether, in comforting the power to coin money,
and 10 regulate the value thereof, the Constitution III,
tended limit the power strictly 10 coming money ano
regulating lis value whether it intended to confer
e ssRfF' pSSsyF eyer ne no"
dunn Of the general circulation oil Tue w"rr~ -" -"
"Tbc very receipt OF bank notes on the part OF 'ne
Government in its dues, would, II is CONCEDED, niahe
them money as far as the G@r-rnrnhht may - e'e'"'
ID and by nscssesry consequence, would make them,
10 O great extent, the currency oil The country sdy
nothing of the positive provisions IN the Constitution
which declare that all duties, imrosls, and excuses
shall be unfprm througho the United States, which
cannot he, unless that in which they're p''d sh"n'o as'
haze rs nearly as practicable uniform value through
on, the country To effect this, where bank noes are
received the banking power is necessary ana proper
within the meaning Of the Constitution; ana eone
ouenIly if the Government has the nght 10 receHe
bank notes in its dues the power becomes constitutional
Here lies said Mr. c., the real constitutional question
Inns the Government right TO receive bank notes or nov
The question is not upon the mere power Of 'ncoIp"
;np bank NJ it has heen commonly afgueo' 'h"ue"'
even in that view, there would DC Us e.ta' ',;ua
ona objection to any act the part of the Executives
or any other branch Of the Government when shou'u
mite any association Of STATE banks into one sys'e,
the means Of giving the uniformity ana s'ao'y 70 e
currency which The Constitution h'enos 10 co"eI. NV
vrv pc of So assocating incnr oratng them INTO one
bv Whatever name called or by whatever department
reformed would he in fact act OF Incorporation:
hui. said Mr. c. my object, have stated, is not
TO discuss the constitutional questions, nor 10
vh.her the bank be constitutional or not IL Is, re-
neat to show where the difficulty lies-a difficulty %h'ch
have felt from the time first came into the Puolc ser
vice fund then. US now, the currency OF tle coun,
,ry consisting almost entirely of bank noles ioono
The Government intimately connected with the system,
c;y;ng bank notes in its dues and paying them away
under liz appropriaons cash The fact was oeyono
me control; il existed long before my Time, ana WIN
oul ms agency; and was compelled to act on Inc ac'
a. existed without deciding on The many qnesonS
which have suggested, connected win TINS suSc''
nnd on ma ny Of which have never yet formed aehne
onnIon No nne can pay less regard to precedent 'nan
d. acting here in my representative a"o 80
character on legal or constitutional qncsons' %. %
l, from the beginning the full force Of the o's'ncon
On aensibv taken by the Senator from VHg'na' VII.
IeioL between doing and undoIng en- act, ana winch
he 50 strongly illustrated in The case OF the
Ion;sisua The consulionalIty OF that act was douo'
himself; vet he would be considered Inadnan VINO,
coming into political life, at this late period, woua now
or;ous take I'D the question Of the consiilnlionay ol
The purchaase and coming to the CONCLUSION 'hat was
Unconstitutional should propose 10 resclnd the ac', anu
eject from the Union t"o nouf!soi"s o'D'e'' 1 g.
ing Territory" ;.u,,
next ask the attention Of the Senators, especially
from the Northern Staes while the Secretary rends Tue
short address 10 the Opposition that they may see no"
J;.nc,lv foresaw what was coming and how anxious
was 10 aver, the calamity that has fallen on the sec
ton where anticipated i, would. ask the Secretary
To ,ead the extract numbered three;
al next address myself 10 the members OF inc Uppoi
sj,jon who principally represent the commetc'd' aI'
manufacturing portions Of the country, where tue OanH
inc system has been the a.,hes. extended ana ~nets
srger portion of the property exists in the shat OF
credit than in any other secton and TO %nG nos,s
and stable currency most necessary e5es
h o1 TO- vsu it is mere qlrsion of espediency viewed
9 this g vote 70, the proposed S sysn
measure designed to arrest the approach Of
which have demonstrated must, no' a'I.su
" -: md revolutions; and 10 correct disease