Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1841-08-09
LyntuuInG. .uGssr .. 1911.
MIR. CALHOUN AND A.BANk.

pondert of tie BaIumote Amer can. In rtpy 10
Mr. Morehead. one oflhe Senators RON Kentucky,
who had referfedto Mr.. Calhoun,s lormer course
the Bank question TO condemn his present opinions,
Mr. Calhoun d, Jared that he spent The session q
rSl4-l5 in opposing The Bank charter This
declaration was so contrary to our recollection oil
the facts, that have roleired to them Tor the pur
pose Of asceraLiug whether tie great Nuiyet'
has not lost his meInsry well as his modesls.-
iecapitulalIon of thoSe fac 5, copied from the
Journals will convince the reader thai II Mr.. Cal
houns collection OF events be not sngul ry I'M
perfect, his moral sense is most lameutaby obtuse.
Mr. CaIhouns declaration l.: 81 spent the ses-
SION ofIsI4-l5n opposing the Bunk charter"
Now wha, are the facts recorded upon the
Journals Of the House II Rtpreseltativesl
On the 4th of February ISL, Mr.. Calhoun of
fered a resolution insl,uctng the committee Of
ways and means, (which had, on The l0th OF Jauua-
~ preceding, reported against Bank 10 he located
10 either of the ate, 10 "enqulre INTO the exprdl-
ency OF establishing National Bank aeiHiR HE DIS
t,ict of Columbia;" which resolution adopted,
alter speech from Mr.. Calhoun, IN Which that
gentleman declared that, whatever doubt might tx-
jst as to the rgla of Congress TO establish corpo.
ration in the States there could be doubt OF lis
power under the constitution, to incorporate a
National Bank in The District-pre' isely The plan
now before Congress, aud the charter oi which Mr..
Calhoun is threatening, even before II is granted, to
repeal. Is tbs an evidence Of his opfosl,iOn to a
Bank in 1912
No definite action however, followed this motion;
and the Cd April, 1914, Mr. Ga houn voted a
eainst notion made by Mr.. Newton oil Va. irdei
oilely to postpone resolution Offered by Mr.
Grundy, for the appointment, OF committee to
enquire into the expedency Of National Bank
l, has an evidence OF ms opposition to Bank
1914!
On the 28,h ofOcober. sl4, resolution declaring
that ait is expedrent 10 establish "A National Bank,
nth branches in The Sererat States" came up FIR
consideration. and was adopted ayes SO, noes 81
Mr.. Calhoun roting for IL. Was H1S an evidence
Of his opposition TO Bank IN lsll
la pursuance Of this RS, luton, bill to incorpo-
rate Bank was reported. the capital OF winch Mr.
Lowndes wished to be 35 millions, but winch Mr..
Calhoun insisted sho Id be 50 millions THIS
bill sustained With extraordinary ability aud
zeal by Mr.. Calhoun, who the advocate Of al
every feature Of ii ost obnoxious 10 The OPP
ponens, then and now. OF a National Bank. Is hiS
an evidence OF his oppos ton TO Bank IN 1914
On the 9Th oil January, 1915, bill passed the II.
OF r. Incorporating Bank, by the decisive vote Of
100 to 37-aI House composed of a lar. majouliy
OF Republicans aud most of the 81 negatives beng
FtderaiistS. The bill was voted (ot by Nh. Cal
houn. Is Tins evidence Of ms opposition TO a
Bank in 1915!
This bill was vetoed by Mr.. MADISON rot upon
constitutional grounds, bu solely from considerations
nj
some Of its PROVISIONS, which, although uupa laable
to him, were very greedlly swallowed by Mr.. Cal
houn, who, in his rabld eagcrness for Bank, seem
ed willing 10 take 1t IN any possible tofm-preler
rlng the location of The Mother Bank in one oil the
States, but wiling to place ii in the District of Co
inmbla, if the scruples Of other members opposed
an lnsupcrabe obs acle TO the former sugge,tion-
and actually voting to confer upon the Bank the
unlimited power TO establish branches in the se,e
ral States without their assent.
This was the end of the contest, until The session
OF 1915 l6, when, after arduous struggle, in which
MI Calhoun was the master spirit, The Bank, after
wmcs vetoed by Gen. Jackson, was ushered INTO be-
Ing-Mr. Calhoun was lis father, It's accoucher, lis
nurse, and lis champion-brooding over ii with pa
ternal tenderness until it fell be cath the power of
the veto and even then end ayoring in its last NOR.
tai agony, to "create soul beneath the ribs of
death -pronounciDg upon il, in 1894 eloquent
and elaborate culoey, tie highest evidence OF his
sense OF The value OF such an institution: which, IN
deed. he further manifested by outsrippne even
MIR. Webster in anxiety 10 ptolong its ex stence.-
For. when Mr.. Webster, in 1884, proposed TO ex-
tend ITS chatter for years Mr.. Calhoun proposed
as substitute for Mr.. Websitls suggestion, to es
'sbllsh "a new bauk ofthe L. States 10 be engrait
ed on the old, 10 continue Tor tire wears nsread of
sn"-uttefng in defence OF his proposition, this
emphatic claratnr-which he you'd now doubt
less wish could be forever t1pun eed from the history
tsald Mr.. Calhoun only seven years ago, before he
had "ioreseen" that his "late allies" mrgLt per-
chance obtain triumph, if they did, that II would
mol enure to has beneft) "AGer a full Sarrey VI the
OF EXTR1CATING THE COUNTRY FROM ITS PRESENT
DANGER, AND TO ARREST ITS FURTHER INCREASE,
'bol A BANk-the agency Of rLich, under some
form. is INDISPENSABLE" And yet IN 1854,
me Sub Treasury Scheme, OF which he afterwards
became SO enamored, when he determined to form
Acoahton with Martin Van Buen, had been before
Congress Tor It's action Yes; with lhal great ques-
ZION OF Delvefance and Liberty" before INN, he
could neither see nor cor ectufe dng by whch
10 ex'rcate the country from ex ny danger, and
20 arrest lis increase, but Bark, the agency Of
winch, e form. he deemed ind md