Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-16
coNGREss-.,S, session !
FFHGI $ Tf0rrfaings.
CONGRESSIONAL. ANALYSIS.

mentS, or extension IF discounfs)
MIR. Walker looked upon this proposition as tn
most important which had been submitted. The at
,empt is to regulate that which is To regulate tn
prices oi the coun.ry-in fact The standard of value
he measure OF every thing. The orders of the boar
"ond raise and depess lie ma kcs, an! the ques
vas, should ts power only be coniided 10 boart
81 CONTROL but that board be permitted 10 keep the ire
mendons edic which thus affected The value Of
man property, IN their own breast To enable them
s'ves and their friends to profit by speculaoTs and pc
ltcians IN their interest bring them bear al
their political schemes by operating on the elections
I MIR. Walker SAID that the late Bank had run up IL
expansions to The amount Of thirty millions At one cr
Is, IN the political movements made BY il At ano
her, II reduced The loans 1900 eco suddenly The
Senate would recolect the effect Of these transitions
Under the first, property an hundred per cent
the next, il fell half industry was parayzed and
no sound was then heard but that Of the auctioneer
ana The sheriff :, and narshais hammer. When suci,
dict nr" made, sfrcng the .innes ofall-and even
| the Little dealings market the snon-uugu,
they not 10 be promu gated, But than this, these
secret ed'cts IN affecting trade and commerce, affected
the resources OF the Governments and ought not Con-
gress, and those who managed the finances of the CO.
yrrnmen to know something Of these orders OF coun-
c,lBrihsh orders in ccunca, they might Justly be
called emanatng from body predsposed, from The
habits OF the class and party, 10 submit To British ntu-
ence, but further bound 10 II; hy The fact that they were
hut Tie instruments 10 work mnclia'. which, II cs-
tablished 1t all. must derive lis means rom British
pal, and would al all events, be una. The contro! Of
the great moneyed power which had s centre Of gra
ytv at London.
Mr.. Linn sad that il was law Of secrecy tina. il
worked Gully and cnrruply lie referred 10 the nys.
res Of tie ancient priesthood 10 mark the Of the
greatest mseres Of our species in the earlier times
lie pointed 10 the bloody and dcspotc rule which reign
I'd IN the period 10 which ne alluded. lie pointed 10
he secret tribunals OF Venice distinguished Tor the
atal expressions which rod under foot the freedom o
that Republic; and characterized the Government as
example OF the worst iorm-that of n sordd noneyed
aristocracy. lie SAID Tie bridge which led from the
of lis hidden councils 10 the dungeons Of Venice
was well called "Mc LrtGgeof sighS. The country now
had but glimpse at The cIandes;inc Vaccinations Of
tie late Bank Of the t. S., and enough was disco:crcd
To convince the world that the deadly influence which
produced the dstresscs that have pervadcd our land Tor
yeaFs-t!ie sghs and tears .; widows and orphans
grew on, Of the dark councIls Vi the Bank c"ncaye,
whose deliberations had been and closely
locked as the Banks 9au.ls
Mr.. Calhoun hoped that this amendment would re-
ceye Tie unanimous vote of the Senate. The object
Of this BiI ID 10 regulate the currency-tGat Isl to
MAKE Il more or ifSS-and, consequence, 10 make
prccs Tess. This every one must see, reaches
the business Of the humblesl citizen as well as the
richest. The Chamber Of Commerce 81 Manchester
showed that the Bank Of England, by contracting SIX
millions, affected the value Of property to the amount
Of forty millions A great Treasury Banks contrac-
then, infinite variety Of ways presses upon the
interests al the people.
The political nluencc Of these cnnTacIlons ana cx-
passions most distinctly traced by Mr. Calhoun
and III brief guuce, shown 10 be incompatible with
free institutions when operating lnvisih!y.
Mr. Nicholson said lie considered the passage OF
lie Bank charter as matter settled. lie should act
thai belief. And lie also looked 10 the question Of
repeal the inevitable consequence. And was he dis
posed 10 pftcr The success Of the repeal paramount
n Iutv ltpr
he would be glad To The principle Of secrecy retain
-. Ta,ie was nothing which would rPcrat" 50 poA
cruliy 10 subyert tie institution. Mystery had for
r, jimc produced lis usual effect IL favor Of bankers
They had Lcen locked upon Is sage anu prudent, ana
deliberate ~ proportion 70 the silence and secrecy
III, oi,s,r:rd Their reserve and the motives for H.
had not De, n penetrated, and Ike the outward sancty
ii priests Which long passed Tor picty, they were con
honest and wise. But the veil had been broken
down and The abominaton ot the mystery was now IN
de-. stooi and viewed with greater Jca-
lousy and suspension than bank officers
The principle Of publicity, as applied 10 the orders OF
The Board of Control shown by him 10 be 81 the Ut
r,ost importance 10 the whole community mat con.
fined 10 few the monopoly OF information operated
ike monopoly in trade, and made class IN beng The
sole masters o: the operations Of the great regulator Of
he prices The masters, far the means Of The banK
and Government extended, Of Tie commerce OF The
country
H. DISTINGUISHED between the uniformity Of The
value Tie currency Compared Win Tue sPt''e stau
ard, and uriiorGi,y III quantity. On tins iatrr as
well - the turmer depended The price OF property anu
is vuc,l!a,on Tie secret orders ot the Beard OF Con
troll Noud affect bn:h ami ias,attlay IL one way was
~ mischlcvo as III the Other
H. cn,,nnted that the orders Of The Board Of Con-
,rol campos.d Of mae men, more absolutely operated
an rccs than tie legislation Of Congess-yc The laws
or cornr.ss were published and distributed With pecu-
liar corr while the orders ri this powerful jlaTd were
|, he as carefully concealed II tins power wer" d.
ctly oe.ed for IN behalf Of any body Of men IN earh
w,ria .ha American people grant it II asked 10 be
,.r,cd il sfcret who would not rcvol; at u And
-, ,r,irectiy both these ends are attained by tins
cL,r,r lie then considered tie effect OF such double
mover IN machine s" universally operating Is ~ '''
rornorntisu nov about IL organize afd that machine
nar,v MACHINE welded by POLITICIANS, as Tins mus
inevitably b., coming INTO existence uhd'f 'e
uow controlling III Congress
, A. per,,n rose to n,ve his assent to ihIs as ne
oJ =, all propositions OF tie KIND tending II brine
r!t into the Bank pator. Publicity wasa gfea. i"es
on. and was making progress lie REQUIRE" 20 Tue s
oc,;nn of the proposition to MAKE 'he sehale ~
ceedings public III l''i, when oniy ss'e" "'e'
~. alluded 10 the secret journal Of the Convention
,h,b was ouly published in s!9, after repeated e.
c,ris. and he asked who would think - h"iine g.
CO; convention to make laws or Constitution ~ 90
country now:
TITO nr.at Law nj banks is to keep haal secrets ff"'
Ia. ar.lP.
;t oson;sb.acnt a: his reign Of secTecy-thf aa""
cafes Of II mar wtlI moi Then dare - acsnow'rnge 'a'
hsy yo, anains, letting lie light on bank paror
osc,;nas: but he would have their names placed On
Tho journals of this chamber. The chronicles Of tie
o,Id c.nno, disclose scenes OF nqu'iy than l!e
chronicles of bank secrets-nore hearts have hccn
wi,bsred-nnrc tears wrung from the wido" ana
he o-phan by the operations carried on under ,ie
re; OF bank parlor secrecy than under any AL 10
vel of darkness ever ys, employed r q into THIS
.o.e other tme-would .r'eshsaHc ' IL BanL
i"%s +: S:I, % ws IF t the !. "a@
palice to the ','. Secrecy at the bot
o al the ,' ;Tss s sn sG"se"s
and eSfars'"'"s tannsned This great struggle tor
p pss ayD viii By eei arrs1a cv sy
thanks oil f',''," will invoke blessings on 'nem
a ssr vo support Ne p%e Of seer T "es
TO n.o,ned 10 the people to insure .he
i h Ia from The f;sye rs a S 's s"""
and me pe"p colow The old plan ofsecrecy-eSeTy
This nanx acted from the people to make up rs sap'-