Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-14
RANk OR NO BANK:

When this issue was charged upon the wings w.
ring Jackson's administration-when 1t was sau ana
nroyed Tint the leading advocates Of the u b Bank IN
The Senate were its debtors and attorneys, VINO 10
prove their devotion got up that odous resolution
against the President which was afterwards exPuhseu
by an indignant people-and when IL was cieury anu
repeatedly exhibited in the Enquirer that the great OBJ
ect Of the party TO restore the Bank 70 LIE or SAD
die rpou the country new one, 1t was positively de-
MED by the Richmond Wing and other prints OF that
party But NOW how changed 10 their tone haVihg
duped the people with stra.agem and fasehooo' anu
elected their men, they come out with untushng con-
6dence the ardent advocates Of a National Bank
Yes even no.c since the corruptions OF the old BANK
have brought to light, and made as clear as the
moor. day sun, they are determined u Possoie 10 re-
peat the experiment. and charter another win uouoe
The power of the former. That wretched institution
that gave Mr. Biddle, in addition TO his wages, ton
Of silver plate an expression OF ther srati'uos'
and Mr. Jaudon 900 dollars year. While acting as
their agent in London has left alegacy to hundreds
of widows and orphans, tears and penury Ana II IS
clear from recent Developments, that this corruption
and Encouragement commenced while was IN reality
the National Bank But how idle 1t to talk OF It's regu
latng and controlling the currency when 1t cannot
be controlled itself by any power under Heaven IL
corporation Of 3 millions could not be controlled, how
can one be with! so or 100 millions: Woe TO the IT,
berty and virtue Of this country, when machine oil
such tremendous power is set IN operation-Let frg
MIA least stand in the breach and make another e.
fort to save the country. John randolph SAID that
IT.
had done deed for which all Of his virtues, and many
,ro,sm Of the country is already PROSTATE tine dust
by Bank influence. The Bank still lives in the memo
res and hearts of the spectators and privileged ar
ders who feasted upon the loayes and hShes But
should we not recollec that even then, while few
were roting wealth and honor the country at large
was frequently suffering by deranged currency and
a sad depression in the prices Of produce The Bank
was chartered in 1916 and in 1919; it is said in Niles
Register-"From all parts of the country we hear OF
a severe pressure men in business, general stag
nation in trade and large reduction in the price OF
staple articles In 1920 committee of enquiry into
the of distress in the country appointed by the
Senate of PenRsy speak OF "a general scarcity
of money throughout the country, and ruinous sacr'-
fees Of property at sheriff sales On the 50 OF Au.
gust 1899, Salem paper says-"We are informed
that within the last two months there have been more
than eighty failures in the city OF Boston In lc24
Mr. Clay in speech in favor of the Tariff said, "ln
casting eyes around us the most prominent clrcum
stance that fixes attention, and challenges ouI
deepest regret, is the general distress that pervades
the whole country" And he declared that the "whole
mass of the property of the nation had sunk an
rage not less than fifty per cent IN te,o years
But why say more upon subject so notorious we
will only add that in 1928 even Nicholas Bddle attribu
ted the disorder of the times to "overtrading brought
on by overbanking.' We would challenge every
man in Virginia to tell US when country more
prosperous than it has been for few years past, and
what more can the farmer and mechanic usk Shall
our rulers legslae chiefly for themselves and the pr
vileced few, or for the farmers who form over
whelming majority of the people, and are decidedly
the most virtuons part Of the community? Shall the
proprietors of the SOIL who have permanent interes
in the prosperity of the country control the councils
the nation or suffer themselves to be governed ane
misled by the use of hard cider, whiskey log cabins
and noisy processions' We did think, until we saw
the startling fact, that the good sense OF our people
would be shocked and dsgusted by such ridiculon
mummery, and that the wicked device would recol
upon the heads of its inventors.
RI uurbburg PeDUbIicdu