Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-09-14

5
shoulders The animal belongs TO the genus and
claims TO exist under the same incidental powers which
have been supposed by their advocates the
other banks. The name does not signify. 1t was first
Fiscal Agent, then Fiscal Bank and it IS Fls-
cal Corporation. 1t reminds me- Mr.. Chairman, of the
story ofPeter Gun Did you hear of the story of
Peter Gun, Sir, I'll tell II 10 you. There was once
IN merry Old England man named Peter Gun: he
was christened lie took 1t into his head TO the
Channel and visit France and there they called him
rsrre FusIl, and when he back he called
fstronus Firesone. Now, it is with this measure.
IL has changed lis name, but is all the time Bank OF
the U. S.
he difference IS wide and easy of comprehension
ne "een fiscal agent and bank. X bank may be a
tsea agent, but fiscal agent is not necessarily bank
There one party that asserts, indeed all parties ad-
mt, the necessity that the Government should employ
Or establish II necessary, fiscal agents There
Their which insists that Bank OF the L. 5 necessary
and proper, not as fiscal agent Of the Government III
collecting, safe keeping, and disbursng its revenues
alone, but tor the purpose Of lending money those
who want to borrow II, and regulate private ex-
changes. The first object is clear and simple. Its ne
cessty Is obvious, and the power IT is unde
nabe. The latter IS ambiguous, and to use the Ian
gnage OF distinguished man (Mr. Clay) IN ISL, is
claimed As sort OF "vagrant power" in the Consttu
ton A Bank cannot be made without IN incorpora-
ton. II IS itself an incorporation The power ''to
grant charters OF incorporation, where The interests OF
The u > might require, and the legislative provisions
Of individual States may be incompetent" was pro-
posed By Mr. Madison in the Convention which framed
our Constitution IN l1c, and distinctly rejected by the
vote OF three States IN the affirmative eight in the
negative, I'D volume Madison Papers, page 1875 y
How can II be maintained that We understand the
powers which were intended 10 be given 10 this Co
veFainent better than they who formed the Govern
m-n, and who il seems, distinctly refused this power
which claimed:
But we told that much Inconvenience and loss
has been occaslonrd by tie want OF a National Bank
tlprp EDG hpap i.4aJf, f
suffering various parts of The country, and that II has
been produced, 10 great extent by the defects OF the
system # local banking adopted eXtravaganty and
nnwisey By the States. an By n9Nneans satisfied,
however, that these evils have been Increased by the
want of u. States Bank that they would be cured
by the establishment of such institution IL has
been said that they not felt not to such
tent, during the periods hen National Bank existed
grant this; but little reflection Will enable 10 per.
ceve that IL was the existence, not Of bank with IT'S
branches extended the Union, but Of permanent,
fixed system, which gave stability and confidence 10
business THIS is all that wanted 10 restore that
confidence and stability. Adopt any system, and let it
be known that IT IS permanent Tor period Of twenty
years aud the business Of The country Will
accommodate itself 10 IL and flow regularly III
lis accustomed channels. We have had system,
stability, no confidence If late Within the last few
years have had three or four systems and not one has
lasted long enough for the Of business and capital
To calculate with any certainty It's duration Hence
man, when he made hIs contracts, knew y hat 10
" on and If they were made year advance, the
creditor and the debtor often found them fulfilled
der different system from that under which they
were made. ! repeat that Il was the fact that the
charters Of each Of The National Banks which we
have had continued for period Of twenty years and
not any peculiar iaag;c IN the Banks themselves 1t
was The pernanence Of the ,stem which inspired
and confidence and, II this question can be settled,
It Will be inspired again. This bill proposes
of local accommodation, power TO lend money, but
only purchase bills of exchange drawn from person
living in State living in another
The President has argued conciusvey, his Veto Mes
sage that, if If local accommodations or loans
wanted the State Banks already possess them far
beyond what they employ and the amount OF CIR
culaon could not be increased III tins state Of things
by the addition Of banking capital whether III the form
ut National Bank of other State Banks. IL is the
perpeiua! agitation Of this subject, IS theme OF party
excitement, which !ias made II question OF poll
and politicians than oil business and business men,
Parties divided with regard to IT. chiefly as 10 the
question Of power in this Government under the Con-
stuun. Men Of business view IT in different light
and they viii tell yon that II Is OF more consequence 10
them that II should be settled, than that Il should be
settled IN this or that particular form. ! have rn-
deavored 10 contemplate the subject both as political
and business question: rs It may affect Tile character
If our political institutions and the private interests Of
commerce. and believe that the safest course to pre-
serve the Government and protect the citizen IS TO
adopt system which will furnish 10 the Government
such fiscal agencies as II requires Tor The collection
keeping, disbursement Of its revenues, and, with
out disturbing hr power OF banking SO long exercised
by the States afford incidentally all the accommnda
ton that is really necessary TO stimulate and facilitate
every homes, business Transaction In order 10 do this
il is not necessary 10 charter bank, nor TO rely excu
svely banks already chartered Banks have been,
and fear they will continue H. be, less objects
of dcluson and fraud. THIS depends very much IL -
true, Oh their management National banks may be
managed no better than State banks. lfihcy POI
lca engines, they must be crcated for party pur-
poses they sill be managed 10 corrupt the Govern
rnrnl as well as the People \ system Of mutual or
reciprocal credit established at various points Of the
mon all that necessary 10 facilitate any business
which National Bank, IT properly ma
m rcd could effect. | believe that this may be done
without bank and without lending the revenues Of
Government in aid Of any banking purposes | have,
therefore, for reasons oil cxprdirncy, well as const-
tutonal scruplcs-l would rather say convictions
voted against ali these projects for Bank, and shall
vote against THIS
A topic has been adverted TO in this debate which
| NAV be expected to notice, and al earlier period
might have been disposed 10 treat IL in different
spirit from that which | now feel. ! in the ha-
bit of employing all the fair weapons of debate with
that perfect respect for the opinions and feelings Of
an adversary which wish TO be extended to my
own. | do not permit difference Of opinion, how
ever radical, 10 diminish my respect for others, or
To engender any bad feelings towards them The
tomahawk and sea pingknie are weapons only to be
used by savages or against them. We have heard
rreat deal Of cabas and kitchen cabinets within 4 few
DAYS and have good cousin, gentle cousin of Lam
caster who among the conscpt fathers Of the Re-
public, who has thought proper to expatate on these
topics, with which my name has been connected by
some Of the busy-bodies who frequent these halls.
have been assured, Mr.. Chairman, that there was no
intention wound my feelings, and that very cordial
respect IS entertained for that quarter, which
take this occasion to say is cordially rccprocated
and will only add, by way fsuggest'on, mo more OF
that, Hail. an thou lowest me Something has been said
too, SIR, about corporals guard. stand here, Mr.
Chairman, as the agent Of the People whom have the
honor to represent, Of the most humble and yet,
hope, not the least true of the eguards Of the Con-
s,i,u;ion And let tell those who talk about cor
porals guards that, while do not wish to come "be
yt the wind and their nobility, belong not TO the
ynard, nor 10 the tail Of any no, SIR, not to
That of Corporal Trim, though, with the help Of the
People, and the cause OF the Constitution this same
Guard may trim The corporal and drive him the shall
low rampar,s OF his jack boots SIR, belong 10
no caba cabinet proper or improper, neither to the
cabinet Of the kitchen the kitchen Of The cabinet
10, 49, D..