Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-04-16
IFIo.a The Vet Paint Georgia .Jcdcrsonian.
TLIE EN,rR 4 SEsSIlN

tive Of the United States, which publish in another
place of to-days paper, that an Extra Session of Con-
gress settled upon and called TO convene at the seat
of Government on the last day of May next. When
ever the Democrats have hitherto attempted 10 speak
Of the views and designs of the Administration which
have just entered upon office, they have been met by
the Wings with EXPLANATIONS not to forestal them,
not 10 anticipate but TO wait for their public acts.
Well here is the Proclamation of the Executive, and
the Extra Session is settled affair. Upon this they
cannot say we anticipate not at liberty TO de-
scant.
What are the causes, then which urge to the call of
this extraordinary session soon after the adjourn
mcnt of the one Just ended, The proclamation says,
"sundry important and weighty matters principally
growing out of the condition the revenue and nan
ces Of the country" From these words, and every
indication given by the Wing leaders previous to the
adjournment of the late Congress, cannot be doubt
ed that the establishment of National Bank, an in
crease of the Tariff distribution Of the proceeds Of
the Public Lands amongst the several Stntes and an as
sumption of the State Debts, will be the principal to-
pics which will engage the discussions of the called
Congress
Tie establishment of another u. s. Bank carries
with il the destruction of the Sub Treasury system,
and the adoption Of the Bank the fiscal agent OF the
Government We far from admitting the constltu
tionality of such Bank, but VIC will waive argument
on the subject in that point of view. Suppose that
difficulty overcome, ask the citizens OF Gcor-
ga, whether they prepared 10 90 into an expert
mcnt 50 hazardous the establishment OF another
United States Bank Let them cast their eyes back
upon some of the leading features in the admins
tration of the old Bank. How long after the esta-
bshment of the Bank il before it arrogated 10
itself the entire control and regulation Of the curren-
CIV of the country, foreign and domestic exchanges,
and monopoly Of the products and commerce OF the
whole. How long before the Bank set up for itself,
Have they forgotten how it felt its power and
sumed insulting prcensions in direct opposition to the
Government which created il? Have they forgotten the
cuntumely with which The Executive was treated by
the Bank: Have they forgotten the open insult with
which the examining committee OF Congress was drl-
ven from their duty and the doors of the Bank Have
they forgotten the refusal OF the Bank 10 pay the
funds othe nation TO the order of the Secretary of the
Treasury: Blinded BY party rage many OF the good
citizens Of this State, looked upon these transactions
at the times they occurred the effects OF per-
sonal illfeeling between Mr. Bddls and General Jack
son, and they had partially for the latter were
willing 10 the former triumph But impartial his
tory will review them with clearer eye 1t Will see
in them moned power, the creation OF the kepresen-
ta,ves Of the people, rising and caimnga supremacy
over The Government, of the people. 1t will then fully
appear that the question between them was as stated
by the President of the United States, Shull this be
Government Of the Banks or Government of the
F. People"
Have the people also already forgotten the extensive
commercial operations carried by the Bank Of the
United States in Mississippi and Louisiana: Have
they forgotten the millions OF Mississippi bank bulls
which flooded upon that unfortunate State by the
factors anu anpnlS OF TIE DlHh. IldSt
the havoc and devastation which spread through
that State by the wild speculation OF that Bank
The destruction of every State institution, and the
depreciation Of all kinds Of property 10 less than half
its valuc If the people Of George have, we assure
{ them those Of Mississippi have not Long have they
suffered, and long yet fear must they continue to
suffer the evils brought upon them through the agency
of the United States Bank
Have the people forgotten the house of Biddle d
HUMPHREYS established in London, through whom the
81 VI
ed: The hundred and sixty thousand bags OF cotton
en- hand at time, by which the whole trade IN that
article paralyzed and the market kept DOWN
Have they forgotten that than one halt OF the
whole exchange between the two countries was mo-
nopozed by the Bank through that house?-That, af-
their funds exhausted, the State Institutions
of this country were run upon and ransacked by the
u S. Bank, and the specie shipped, by which the State
Banks drained of their precious metals, and Grip
pied in their operations? These transactions OF the u.
States Bank too recent in the remembrance of the
people, and cannot be forgotten by them We ight
pursue these "reminiscences Of the late Bank of the u
States and fill columns, but we forbeE.
II such then, SOS been the character Of the late
D1nt T se sf''" Ans .Ro"s be
established That it will not, may be deduced from
a variety Of The old United States Bank was
established business institution. The country was
largely in debt, and the leading argument for its es.
tablisbment, to afford facilities TO the Government
and assist in it's fiscal concerns. The next Bank
ablished at all, will he established speculation We
have now no national debt, extensive fiscal opera
tons The whole aggregate receipts and disbursements
of the Government at the present, when concentrated,
as they would have TO be if transacted through Ma
tonal Bank, need scarcely employ the time Of mere
than single officer and half dozen clerks Whence,
them the necessity of Bank of the United States for
the fiscal operations of the Government None in
the world.
But say the friends OF Bank, we must have such
an institution to reduce exchanges and equaze the
currency. AS TO reducing exchanges, when the
old Bank of the u S. ever known to take less than its
funds could command in the way of exchange could
such thing be expected from any Bank? l. is
true, that at times, during the existence of the old
institution exchanges both foreign and domestic,
extremely low, but the Bank of the u s. had no agen-
cy in eTectng them to any extent. They might loosen
the strings little in place and tighten them lit
tie in another, and thus produce temporary
panson or contraction in the money market and
consequent temporary effect upon exchanges in that
locality but, beyond that the bank had not and could
not have any effect on the exchanges. Exchange
has and ever will regulate itself Where funds are
plenty the exchange will be low, and where they
scarce it will be high, the the price of any
articles of merchandise, and any further than the Bank
of the U. S. could make money plenty it
could have no influence exchange, and other
ban ca that want a Nation.