, 1841-08-07

W 10y VIM "oh Sc ahtuhuS ~
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SPEECH OF MR.. BUCHANAN IN
THE SENATE JULY le, 1871. ON TIE
BANK BILL-WITH PARTICULAR RE
FERENCE TO THE UNPOpULARITY
OF SUCH AN INSTITUTION. AND
TO THE PROBABILITY AND JUSTICE
OF IT'S REPEAL IF PASSED DURING
THE CALL SESSION:
1t WAS originally nv intention. in opening
this debate ON our side of the question, 10
confine myself 10 some observations in reply
to the report of the Select Committee on
the Currency. and TO the remarks of the
Senator from Kentucky. Mr.. Crawl which
Iconsider a mere supplement t. that report.
! intend still TO pursue this coursa. although
the occasion is very tempting to depart from
it. and SO more at large INTO the discussion.
think it could be demonstrated that this bill.
considered in Itself as Il mere Bank bill, is 4
production of the dark ares of the world.
and does not come down beyond the tenth
century of the Christian era; and that, in is
preparation. all the lights OF knowledge. and
all the lessons Of experience IN the subject
of banking, nave been utterly disreCardci.-
When the proper time arrives. I shall under
take 10 prove. Unless the task should be per-
formed by some other Senator. that. from
first to last. this bill does no, contain one
efficient restriction. But | waive all this for
the present, ard p-ocest 70 my reply.
And in the first place, the committee de-
clare as .stheir deliberate conviction. that a
vastmaiority of the people of the United States
concur in the expediency OF establishing such
an institution as a Bank of the United States;
and that they are now looking with anxious
solicitude to the deliberations of Congress,
under the confident hope that Il Bank Of the
United States will be established at The pre-
sent extraordinary session OF Congress"
1t is their deliberate conviction that Il
vast majority OF the PEOPLE of the United
States anxiously desire the establishment OF
additional Bank. Whence is this "dcliber-
ate conviction" derived! From what source
does it proceed? | am ~cntcreIy ut Il loss
even to conjecture. Was the question OF
n National Bank discussed any where before
the people by the great Wing party previous
to the late Presidential elccticn? Was the
establishment of such Il Bank then made n
turning point of Wig policy anv where?-
No. sir. no: the Wings every where ;hrunk
from the question. They conceded their
opinions OIL the subiect--nay, more-in some
State of the Union they profeSs"d that hos
tIity 10 4 Bank Of the United States was one
of the cardinal principles of their party
The Wing convention OF Virginia, IN their
address to the people, expressly delare that
General Harrison was opposed to a National
Bank; that he was against it on constitution
al grounds; and unless ! am greatly mis,n-
formed, a distir guished gentleman of North
Carolina, (Mr. Badger now member of the
cabinet, an address before the Wing conven-
ton of the State. Indignantly pronounced
the assertion that General Harrison was in
favor OF such a Bank, TO be 4 falsehood.-
This speech was. | understand. printed and
circulated all over North Carolina. | have
not seen it myself; but have received my
instruction from an ~undoubted source.
Mr.. GRAHAM said the speech WAS not
made before the Wing convention, but at 4
public meeting in that State.
Mr.. BUCHANAN. Then the gentleman adj
mits that the speech was made. When it
was made IS of little consequence.
Mr.. Calhoun. ! have the speech of Ba-
dyer in nv hand. and shall read the following
extract from it;
.Next it is said that General Harrison IA
vors a Bank of the United States. The
charge is false. His opinions, on the contra
~, are against a Bank"
Mr.. GRAHAM. The speech was not made
before the Wing State convention on the
5th Of October, 1910.
Mr.. CALHOUN. II will show for itself. 1t
appears to have been made on the Sd Of
March 1910.
Mr.. GRAHAM. A. a meeting Of the citizens
at Granville.
Mr.. CALHOUN assented TO this, and said
that a hundred thousand copies Of the speech
had been printed and circulated.
Mr.. Buchanan continued. The misun-
derstanding neIa,es not to what Mr.. Badg-
81. said. but merely TO when and where he