Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-16
Saturdays Proeeedines-[ Continued ]
CONGRESSIONAL ANALYSIS.


Messrs. Woodbury., Linn, Calhoun, Benton, Allen,
and King, argned in favnr Of the amendments pro-
posed by Messrs. Woodbury. and Allen Mr.. Clay Of
Kentucky advocated successfully his provision against
Mr. Woodburv's, which, instead Of being such lint
tation as would prevent the abuse which Mr. Woodbu-
nv sought correct, lIcence to the Bank 10
continue the old abuses, except making gifts to the
officers Of the institution.
MIR. oodbury resolution was intended 10 prevent
the Bank from running into all tine iog.roiing schemes
Of improvement in which the late Bank indulged TO
purchase neighborhoods and cities to lis interests
by douceurs TO u railroad company here-a canal COM
pany thereto paving streets and contributing TO cha
rites by way Of reaching the sympathles Of whole bo-
dies of people 10 aid IN commanding the Legislation
of the country, by assuming seeming generosity, hui
mainly, and public spirit, when il in fact brbing
and corruptng upon cold, political and pecuniary cal
culatons.
Mr. Woodbury. read whole catalogue of these
douceurS printed in the committees report and il he
could have read the burnt vouchers whc recent
y called for by the meeting Of stockholders, but
which Mr. BiGdle and his subordlnaes had carefully
DESTROYED he might have added to his catalogue Of do
nations the Of great many distinguished poll.
cians, who have rendered the corporation yeuman s
service in the halls Of State Legislatures well as
those of Congress. Mr. Clay was very willing cut
OF the officers of the Bank from their accustomed pen
slons but the railroad, canal street. and pavedroad
pensloners-the church pcnsioners-e editorial corps
of pensioners, aud the legislative pensioners he would
the Grand Almoners purse of the Bank In a word
Mr.. Clay resolved not for a moment to check the
hopes Of the Bank nercenares and the popularity OF
the institution, with this class, By inserting prohbi-
tory clause, although with the secrecy which is Sc
cured it might and doubtless would be totally dlsre-
garded in practice
After the amendment offered by Mr. Woodbury. was
altered by Mr. Clay TO license gratules TO all bat
Bank office $, the proposition became Federal mea.
sure and passed, OF course It's mover openly repudi
=
gave il up.
Mr.. Allen then moved his proposition which was 10
prevent the appropriation of the funds of the Trea-
sury in this institution 10 such gratutes He main
ttained that the Bank made the Treasury Of
tie naton-as all its funds stakeholder or drpo.
stoh was in the custody Of this new Treasury De-
partnent and are, 10 all nenls and purposes, pub
lic money in the Treasury BY the very terms of the
charter, i, was clear violation of the Constitution
which says ~. IN. no money shall be drawn from the
ny ordeiH.ea oy iaw-to permit sratu,
the money 10 he drawn from ,eo OF uiec'ors ana
OF such appropriations. Messrs. Caihon. s ps,o
King and others, strongly supported Mr.. m ';o
Of the qheson Mr. Clay OF Kentucky insisted -, ~
partner IN the corporation, the Government na
oouha " 'ie P!"c'pes OF Tie Partnership 10 submi,
to such disposition oil IT'S means, as the .v--ny NJ.
lorly ct the corporation had The right to order i.
Calhoun, with great force, urged that ihls
OF the affairs OF Government with a company of bankers
on the ground assumed, might subject the finances Of
TIE country 10 control utterly at war with line real
t!ncarirs-the representatives of the States and the
pcoPle-;o whom the Constitution committed this vital
trust lie said the before The Senate sin,nI,
he'd the matter so that every must see the danger
OF this odious connection of Government with bankers
The charter committed the finances of the nation to the
custody and management Of the corporation The
amendment as modified by Mr. Clay distinctly pu, the
funds G.. the Government at the disposal Of the Bank
managers not merely TO be applied the purposes spe
cited in the charter Government or banking pnr
poses but TO be given away gra,ues by The board Of
directors, provided the gift made 10 the officers
Of the Bank.
Reasoning has but very little effect upon the
Bank cohort in the Senate. MIR. Aliens amendment,
was defeated bya vote Of q to 81. Mr. Tappan and
Mr.. Buchanan were not in the Senate when the vote
was taken.
MIR. Woodbury. moved TO strike out the thirty mil.
lions capital of the Bank which, if the motion had pre-
vailed, would have left it Bank of depo.te.
On this, Mr. Woodbury. made argument of con-
siderable length, replete with information and ADM.
rabe views on the subject under discussion
MI Woodbury. made the following points:
l. iha, he preferred for fiscal agent of the Go
vernmeni, Bank, if any, of mere deposite, and not
one OF discount and circulation 1t would be safer and
soander, and more appropriate for Government ma
chine.
2 That the present condition of public affairs did not