Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-08-13
COMMUNICATIONS.
EOR TIE ENQUIRER

COMMUNICATIONS.
FOR the ENQUIRER.
s.THE FISCAL AGENT.'-(No. VIII
Having thus examined the constitutional power oil
Congress to establish this new Fiscal Agent, alias
National Bank in few brief and dscursive remarks
il only remains for to investigate its claims TO ex'
pedency, which shall do in the brefest manner pos
sibe.
If we're not for the proneness Of to forget the
past far may avail him IN directing 10 the future
would saw that the experience of two National Banks
running through period of forty years OF our history
would satisfy every Republican ofthe immoral, corrupt
tendencies, and danger TO Republican government
of such institutions. There is nothing in them yalua.
be except perhaps little uniformity in the value
Of their notes, and the Fictitious enlargement OF the
floating capital OF the country which they produce
while they are replete with moral and political evil, and
carry danger TO Republican institutions and 10 puoic
virtue in their every step. 50,
This new scheme proposes capital of 0Uo,ouo,
which may be enlarged TO Soo,0uO,0uO: winch, when
paid will authorize this corporation 10 throw mo CIR
cuation 1000, 0Go which may u the capai DC en-
larged be extended to Sl50,00U,000 Let US imagine
to ourselves the power aud influence, which s"g'f
corporation will possess with floating circulation oil
$50 Zoo, G00 or SI50,0o0 0GD \ corporation having
the c0uRtenGncc and endorsement OF the Government
what NAV il not do: have never had any fear that
Bank with whatever capital would be able 10 oveEturn
the Governments No. never entertained any such IDLE
fears as tha my fears have been, and are, that the
Government and Bank combined, may o.eriuIn the
liberties the people The military and money power
acting in concert viii be formidable and dangerous, and
will be too strong for the people.
This will be 4 central institution, and BY The aid Of lis
immense capital and superior cGea; acquired from lis
national endorsement, will drive all other paper Gu. o.
circulation, fill up its channels, and exercise con
trolling influence the property produce and labor
of the country All rivalry between that and State IN
sttutions will be destroyed and universal demand for
National Bank paper be the result Can person be
at loss know what will be the result Of such state
no has lived md studled the his
tory Of human nature 10 l,e purpose. II in The pro-
gress of this institution il shall be vGrd tina, the cap,
ia now authorized sufficient to effect these great OBJ
iects the same power winch created may enlarge II,
until II shall be sufficient 10 compass every thing
Does not every perceive that if the National Bank
paper shall circulate sufficient and continue
TO receive the endorsement. of the Government, 1t
will fill up every channel of circulation and drive out
all State bank competitions and II SHALL viii every
interest be subordinate lis control And vet those
who profess h. Rights giving in to the
support ofthis schene-ior mons,rous, call
il, and monstrous il al prove 10 be.
But how is this nic:ty mass Of paper to get afoat
By loans and to whom To the merchants and spe-
culators-who, not content with the of the means
which fair and honest of trade affords, mus,
needs have artificial cstab shment afford them
tEcia means-means which are employed, not for the
Improvement and wealth of the nation al large, but T.
interest Oft select class .! Individuals class which,
whatever may be the destiny Of our country-whether
II repose the Of monarchy, be subject TO the
iron sway OF despotisn, will be uppermost and favor
"a class which will feel but few of those exactions and
expressions which tyranny inicts These the produc-
ing and abornr classes always have to bear.
There are corrupt and dangerous tendencies in all
banking institutions, great and small but these may
be checked and overrued by wholesome competition.
THIS Bank will destroy all competition -centralize all
these corrupt and dangerous tendencies, and radate
them without resistance from the centre TO the crcum
ference of this Union, subectng all interests 10 its
control great central Government, possessed Of all
powers OF legislation, would be more dangerous TO
liberty than great central moneyed power operating
without competition, the whole Union, aided By
the influence OF the Government 1t controls the
States by its power, commands the support Of mer-
chants and spectators BY It's discounts, buys up the
citizens by its seductons, and seduces BIZ its empa
tions the Government itself, in all It's departments.
Virtue aud intelligence MAJ resist these consequences;
but virtue and intelligence may be, they have heen,
overcome by such strong temptations The present
generation may be proof against such tempting and
mighty influences, and yet may be by their
strength Take away this loaning power, and will
venture TO say, that all the camor about sound and
uniform currency ceases
And for what the institutions of the country the
purity OF the Government, the virtue Of the people,
and the liberties of the country to be subjected to this
severe tr'al-ih's tortur'ng ordeal; To add to the
means OF advenuers and spectators, and enable them
10 realize larger proi,s-to build up wealthy class
And what the specous pretext under which this OBJ
ect be effected: Under the oelus,ye pre,ext of
sound and uniform currency small discount
to traders and spectators State bank paper or
drafts This is but small lax to be paid Tor that Sc
curity, which State bank competition presents against
the demoralizng and dangerous influence of great,
central, monied power very SNAIL price for the
lue OF the security which II affords. But this saving
II the trader and Spectator saving to the
Try but saddles upon the country all the expenses in
eden, to National Bank for their benefit The peo-
pie do profit, but risk all for this little saving To
spectators and traders. The only difference between
100000, 900 Of capital III National Bank and State
Bank paper the brokerage which the States might re
gulate themselves whou, the aid of National Bank
Let the Government receive IN payment Of public dues
sound State bank paper, aud the States negotiate pro-
per system of exchange; and Will venture say that
ample remedy will be applied for all the evils which
now atict the currency aud exchanges. But any
event. before we hazard all the consequences o! Ma.
tional Bank let make far TRIAL OF the State
tions.
Another effect of this scheme will be to subject
the trade and agriculture Of the whole country to the
domination of two three large cities-perhaps TO
single one The interest Of the Bank will prompt 1t
TO look 10 that location, which at present affords the
greatest prospects of succeSs-where 1t can lend and
shave most extensively and most Prohtably-and that
will be New fork-aspIring, ambitious and enterprls
ing New York, already possessing means and Intu-
ence sufficient to command and control all the com
mercia interests OF the counry-indeed, 10 make her
AZ she rs, the mistress Of the Union. How long will
the South-the agricultural South-hug her CHAINS
and submit to this domlnat'or How long will she
her industry and enterprise pay tribute 10 New
York; have not time 10 enlarge upon this subject
ii is too prolific for newspaper essay. barely touch
upon the prominent points to draw the attention of my
coun,rymen to them, and arouse them 10 of the
dancers 10 which they exposed-to arouse Tirgi.
nisSyalorous chivalrous and Republican Virginia to
that action which shall say TO the Of innovation
which threaten TO ovcrwhelm the Constitution, THUS
jar, and no fartker'-.o unloose that tongue which
proclaimed voice Of thunder in the dark hour OF
n~I< de-
and it was accomplished.
speak 10 neither of the great parties which now
distract aud divide the country-W th them