Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-13

.tr,v that no President OF The T. =. couiu nave
n aver oil making money scarce Did they
- H., 10 meet the question put to them, and
Il " lowing out of their own assertion, that
a :. an, of the United States had the power
n money scarce, he has equally the power
4 !, plenty lie would have but to make
y .-su,y 10 secure his reelection. This was
n answered and unanswerable. They were
"A the banks, having the power to ahse, tue
n and having an interest in sustaining panN
81 - H.. securing the establishment of this very
" ~ ,n8.r discussion. continued and extend-
4 sure TO produce the very effect they de
n t,.,lan- the people feel distress; and TO pre-
4 ,,n, cause from being seen, which was TO
n ii their own orders trsm ONE eno oil the
a the other, acting IN secret. nus no posi-
j lin Of exposing to the people the true
\ ~ .,s n,essure and low prices really inicting
ss on the people, and so they charged It on
u .n,s,ra,,on II was this very principle of Sc.
'....b made the people liable 10 be successfully
v. and le,, il out Of the power of the friends OF
~" ADMINISTRATION TO advert to records oil the
49,, could have been done, had the publicity
4 ~ inns amendment been compulsory on all
u -. - 10 the orders by which they effected the
Il '. ,ms If the currency. The people did not
. cause of the pressure, but, feeling it, were,
"s.,nre Of any more palpable cause, easily per
~, ,bs Government was to blame. lie (hlr.
.. .,s witnessed the effects produced IN his own
,.e system ofbank secrecy. Depreciation 10
..c,nr extent, was produced oy coi'raG''o"s, anu
anna. .t,,,s,,s we're fomenled All was laid at the
70 ~ 49, Administration. Could such deiusion
-" .,h.eryien, to electoneering purposes II the
~ n.,y hank and tine causes of every step oil
-, were made public and placed on record
.,,y,l,dre was no, a,tainable. What these
r.s dome IN secret. The Bank party had an
- cb,rr,nr things on the President OF the Y >,
L~8 M more control over than the 1raha
Ma measure, but a charter to make the
,.. os,,r,ment of this Government great oauS'
.,.,.,,ion:-a corporation taking its profits from
,.se,s Of the peope-protits made out OF the cap,
| .,wed from the same people-prohis distributed
~ be contributors, the people, but to individuals
nav be British capitalists, or to any olher Pefso''
-,y ne admitted as partners OF the institution
this measure but one TO grant to the ifeasus.
.,uent banking privileges, ana enaoie Il u ''''s
/ ,rncrship whom II pleases:
,.ss,rng 10 the BILL it is found there declared
,gy funds Of the L. s., lodged in the hands OF TINS
mon. shall be deemed in the Treasury OF The Y
| ! moneys of the Government deposited in thi
/ - by the charter declared to be, not IN the
| . IN, m the public Treasury. is not this evidence
: ,,s-,er itself, that the Treasury and tho Banl
~, /, will not be pretended that this Bank vii
~. h. Treasury OF the u. 5. WE'LL then, all tina
IA Lv Tins amendment is that the same publiclt,
> the people are entitled to with regard to thu
! ,.-y. as i, now exists, should continue under It
| 9fg.n.aa,lon.
r., Sien continued, by train Of powerful argu
ye position, 10 point out the dangerous organI
u which would result from the combination o
,,o- powers with the Treasury Department, under
,-s and extraordinary aspects which the banking
9.sa,ion has assumed in reference to politics, II
Il 81 late wears, it is known TO have embarked
double influence OF the Treasury and Bank, backed
III, 81 al! the other Departments, working through
n perfect secrecy, would not fail to change the
s.s,s. o! onr Government. No patriot would oeai
u lid ina, the War Department, the Navy Depart
H. or anv OF the great branches OF Government
M. carry on their respective operations without be
SUBJECT 10 the fullest scrutiny OF the public inel
e; and yet the very power which IS to Propei ths
le machinery, is 10 work under ground. He Illus
st as views in relation 10 this topic with great sue
u: Wright said that the friends Of the Bank as
asi .ha, II would regulate the local Banks-that Il
finnish stable and uniform currency-;hen b.
:,-a ina, this power, to be wisely exerted, shoulc
!. 1s.d 10 tie most efficient responsibility. Nothing
II o. devised better suited to produce this result
~ he amendment proposed. What has been the
l.a.,,n, against the former Bank /; The crcum
ne. aa Il LED the way in expansions, and produced
|: Instability which has thrown the country into dis
r..
Iae act that the Government directors were ex
III from all knowledge of the acts of the Board o
/ id Bank grew out of the circumstance that the
+ /. lave promulgated the course resolved on, AM
kg:si Gu, BY the Select Committee, in making IN
actions and expansions which preceded the succes
r. aacs This showed the importance Of gvn
~ such orders and the sense Of those wieldin
,ose-s Of the Bank to mischievous purposes, wit
'.:;i,o the necessity of secrecy IN accompiishin
:ssns.
I . aeo4te in favor of the amendment was furthe
.:.G on b. Messrs. Walker, Linn, Calhoun, Nlcho
sad Benton. "a sketch of their remarks Will b
'ta n our next.)
IL qlest,on was then taken on Mr.. Aliens amenc
~, and decided in the negative as follows:
I,.s:s. Allen, Benton, Buchanan, Calhoun, Clay Of Al
II catsE Fulton, Henderson, King, Linn, Mciobert
IL. Nicholson Pierce, Sewer Smith Of Connecticut stu
Flgau, Walker, Williams, Woodbury., Wright, Young
N-s>rS Archer, Barrow, Bates Bayard Berrlen, Cheat
81, Clayton, Dixon, Evans, Huntington, Kerr, MAJ
N-'cs. M-r, Morehead Phelps Porter, Prentss, Pre-
>rlun>. Smith OF Indiana, Southland, Tallmadge, Hhit
VI; Walker proposed amendment restricting tn
-cC.s Of The branch banks in the power now lie
aiaem IN the charter, Of lending as much to then
r.: IS they pleased, and to members of Congress
'aswed That the liabilities Of Bank directories {
b. Orleans, being l70 in number, amounted to sever
f. Millions The directories Of the States Of Louis
o: md Mississippi amounted to 3S millions. TIL
b. these two States would bring it to fifty millions
syenced TO all the banks Of the Union, and woul
Il: TIE Astounding fact that bank directors wielde
ne, own benefit, one fourth Of the whole bapkin
/ Al j the Union.
L. vote on the limitation of loans TO directors
>o,oto, stood, ayes %, noes2l
I.s vote on excluding members of Congress froI
F:'aag borrowers, stood, ayes %, noes -.
THE HOUSE OF X.
Ai-r PRAYERS, Mr. Hunt Of New York continue
. '-@arAs OF yesterday in style lucid and salts
II as could hs We been expected When the hour
: s-a;eman had been expended, the Speaker male
'?fst, and Mr. Hunts speech was finished, notsn
~.
Nt A. Y. Brown of Tennessee continued the debat
N 'he Mcleod inquiry, and was very severe upo
: British Government He also censured Mr.. Web
:, and said that he sorry TO say that he mr.. w
ser lad an American head or an American hear
. Brown went at large into the matter, and his re
Fas will be given at length hereafter. Mr.. Brow
.,s out the morning hour
NJ Fillmore moved to print certain documents in re
10 the loan bill which was ordered without
y; Fillmore said it was no more than fair toward
il mnor,y to let them know what the majority il
''et 10 do he therefore offered the following resolt
IT. and moved the previous question;
"Eesa'red, That from and after two o'clock to-mo
~, a.! debate in Committee of the Whole House o
es'e Of the Union, on House bill No. 5, shall cease
~ Tie committee shall proceed to vote upon tn
0'acmens that may be at that time pending, or thu
Be offered to said BILL and shall then report III
with such amendments as may have been agree
I" Inc House; Prorided, That nothing in the reso
I'D shall prevent the committee from reporting sal