Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-16

cd by majority, against the VIII Oh the oeha'o
Kentucky. This would seem 10 urnsh oe'.a 'C S1om
49, - ,Is amendments on the part Of the Senator IRON
Krn,ncky than his idea that they were mere caP.ou,
untenaLe propositions, thrown out as mped'n'eh'' =
the bill .h:ob ,pobt
On .hroad from remark of MIR. Clay OF henlucsy,
IL, ,bs Rank system would cure, among Inc ot..
Wis such REGULATION that of S@art@oul, &C.
Aim aid j, was while the banks were dep"s''or .I
that the Swartwout defalcatlon and many o'".i' y
same kind occurred o, IN favor of
a., pnL drawn from the profits the Government W"
;, make out of the money borrowed 70 Pu hon
STOCK was worth notice. These Pronls' " =, nwn
SAID were 10 be made by Government o ,,e nocLe,s
c;,,,ans and upon money drawn OUT VI ',e" =; Tho
,hc interest on the capital borrowed, anu ~ ~"
snd N the capital itself The capital ana prom
Tho Bank which the Government was 10 e. ~ ~ tho
,, omono fayortes were both 10 come wv "
sr,s drawn out of the cold earth by Inc hiuso0'
,aho,no classes Mr. Allen said that tue p'ess-
- he DISPENSED by the land bill among 'he olaeI
~. nr the same SORT All the money when 'ne ianu
mas IN rive the States, with the COST OF ~
MAS 10 come out of the people ANA 'he ue"o,. I'm a
80 10 wed on the people, to which the cost u .,e
c,ion of new sums required to be taken iro', 'ne
,sooe. was to be added The proposed dement, .,e =
,s nothing more than new taxes TO pay the Gus. "
DISRUPTION, and Tor the coiieC''o" - l "
wbicl it made necessary ran =,
~ WRIGHT next proposed to strike out the prov'o
by which the Government was engaged 10 tahe one
,5 If The twenty millions reserved tor private slocH
hnIars f not taken by them Mr.. Wrg SAID ms
oro,iso was calculated to secure the happening OF Tue
conlnrency which went to make the government
,royide more than half the capital oil the BANK, m
stead of the onethrd Tor ten millionsl 10 which y
would seem to be the first intention OF Tie Charter 10
Inn, i He said private stockholders would prefer thal
The Government should furnish the major amount Of
the capital when they were TO manage Inc whole
Tho individual stockholders would under such CIR
cumstances, be composed oil adventurous sPecu'a.o
who would raise the wind 10 get the MINOR part OF The
stock in their hands, that they might get the Govern
mens sixteen millions in their control, with all The
i poyer il conferred The sixteen millions would draw
will, il the reserved fund of four millions, If the views
of tie Secretary of the Treasury IN respect to II wsre
d adoted. with all The deposes To command IDS
enormous fund of others, would be the object OF the
nam ger. of this institution The private fund OF ca
4 ual sis would always be at their own command, and
they would not push them into the Bank to exclude
then from the management Of any portion Of the vast
amo,n which The proviso proposed 10 be stricken out,
q would give 10 them from the Treasury, II retained
Ia the course of the discussion of this subject Mr.
la Of Kentucky insisted that the povIso was neces-
sart because the course Of the opposition to the
Bank was SUCH that individual stockholders might not
take the stock, and the Government must come IN to
: create the capital TO put II IN motion. lie alluded 10
the lhrea, of the repeal Of tho charter having this
i tendency and he denounced it monstrous outrage
m ibe settled principles of government, at which the
moral religious and patriotic sense Of the nation would
g revolt He visited here prodlgous deal oil invectiVe
on this doctrine, which he least anticipated from the
d Senator from Pennsylvania, mir. Buchanan) MIR,
buchanan followed MIR. Clay, and in powerful argu
men, supported the opinions which had so excited Mr.
Clay s alarms and provoked his Indignation.
We cannot before paper goes 10 press, give even
sketch Of Mr.. Buchanan rejonder this evening: but
&c will give from his speech which IS Just prepared Tor
nl, llp
sailed to-day What lie replied TO Mr. Clay will here
after be gven together with the very interesting dis
cusson which ensued after Mr.. Buchanan had spoken
The portion of MIR. Buchanans speech which MIR. Clay
: had reserved Tor attack to-day Is as follows:
. MIR. Buchanan said:
II was originally my intention, in opening this de-
bate on side of the question: TO conhne myself to
some observations in reply to the report of the Select
Committee the Currency, and to the remarks oil the
! Senator from Kentucky, (Mr Clay which consider
as mere supplement TO that report. intend still 10
pursue this course, although the occasion is very tempt
ing depart from II, and go more at large INTO the dis
sson. | think il could be demonstrated that tins
. bill, considered in Itself Bank bill, is pro
duction OF the dark ages Of the world, and does moi
come beyond the tenth century of the Christian
. era and that, It's preparation ell the lights oil Know
ledge and all the lessons of experience on the subject
. of banking have been utterly dlsregarded. When The
proper arrives, shall undertake TO prove unless
. the task should be performed by other Senator
that, from first TO last, tins bill does not contain one
(, efficient restriction. But waive all this Tor the pre-
= sent and proceed to my reply.
And, in the first place, the committee declare as 1.-THE
deliberate conviction that vast majority oil the people
OF the IT, s. concur the e1pediency of establishing
i such institution Bank Of the u 5; that they are
now looking with XIous sclicude 10 the deliberations
!. Of Congress- under the confident hope that Bank o.
the IT, will he established at the present exlraordina
. ~ session OF Congress.
It is their udeliberatc conviction" that vast maJo
, r,ly Of the people of the L. 5 an1ously desire the
. establishment Of National Bank! Whence is thu
. ''dellbcrale conviction derived: From what source
. does it proceed? / am entirely al loss TO con
j lecture Was the question Of a National Bank dis
cusscd any where before the people by the great
Wing party previous the late Presidential electlon
"a Was the establishment of such Bank then made
4 turning point of Wing policy any where: No, Sir
2 no; the Wings every where shrunk from the qnes
. ton They concealed their opinions the SUBJECT
. nay, more-n some States Of the Union they profess
. ed that hostility TO Bank of the United States was
h one of the cardinal principles OF their party. me
Wing Convention of Virginia, their address TO The
people, expressly declare that Gen. Harrison was OPP
posed 10 National Bank; that he against 1t on
constitutional grounds and unless am greatly msin
q formed distinguished gentleman oil North Carolina
(alr. Badger,) member Of the Cabinet in an ad
Il dress before the Wing convention of that State ndg
nantly pronounced the assertion that General Harrison
was IN favor Of such Bank, 10 be falsehood. Thu.
speech was, understand, printed and circulated al
over North Carolina. have not seen 1t myself; bu
l. nave received my Information Ioni III u"uouo'ee
source.
= Mr.. Graham said the speech not made before
$ the Wing convention, but at public meeting in tina
= State.
Mr.. Buchanan. Then the gentleman admits that the
. speech made. Where it made is Of little con
J, sequence.
n Mr.. Calhoun. have the speech Of Mr. Badger in
n my hand and shall read the following extract from it
"Nrxt is said that Gen. Harrison fayors Bank Of
. the U. 5 The charge is false. HIS opinions, on The
). contrary, are against Bank
:, MIR. Graham. The speech was not made before the
# Wing State Convention on the 9th of October, 1870
Mr.. Calhoun. 1t will show for itself II appears tc
have heen made the Sd of March, lciO.
=, MIR. Graham. At meeting Of the citizens OF Gran
. vie.
! MIR. Calhoun assented TO this, and said that hun
dred thousand copies Of the speech had been printed
y and circulated
d MIR Buchanan continued. The misunderstanding
relates not 10 what Mr. Badger said but merely TO when
and yy,aerc The Cct estahl she