Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-04
RICHMOND. VIRGINIA TlESD y, JANUARY /, ls42

that IT, he ha, pursued since H. had IN.
o:ed ne honor Of SEA, IN tha Chamber souid shield
nim fsoaa any suspicious ci this character lie would
now ii move that I'll. port be referred IL select
committee OF nine Senators, - De appointed oy the
Chair
In mixing ii4 motion he did not feel il inc ;mhent
upon hn 10 offer AMI remarks upon the merits Of the
plan submitted IN the report; the state OF his health al.
mansh hm 10 io!hear was il called for OH mere
motion 10 refer As the subject not now before
ihc Senate for lis definite actloo he should reserve
what he had to gay until ibc committee, should one b.
appoint. d. should have brought IL its report.
Mr.. 3uCHANAN When tins SUBJECT was before
the Seiate sone days ago. then intended T. make
observations it, Subsequent reflection ha; m
auced nr 70 believe thai my duty al least nov, to
exp!cs ~ opinion The subject. lth!s we're mere
report Fl ~ The Secretary If lie Treasury, drtnn. his
oprnioa alc.e, wnr! NJ: think il proper To Invcst'
. i" i z = -e''rnnar57s'e = =, 'hs'ness But II
comes before in iinpusin. form. We ARE
told that Il which the Cabinet IS unit
ed. bii IS presented 70 rs drawn ip ",h The utmost
care ani we have argamcn. IN lis favor III this re-
port. atA,, my onn.on, ever presented 10
this huty. Clear ~ ia statements, logical in ~ de-
iGcion., nnl vii calculated ~ produce striking IN!
preston Inc coaGirv. Under such circumstances.
then and especially il has been rEmnrad every
whrr" that have promised II my support ierl u -
h duty wlich owr - nyscli-wh,ch ] 0%c I"
the great party II which have the honor 10 belong,
srb" occasion. say with the most perfect !nlh,
that Lad, and still have, every desire to support any
constitutional measure submitted hy President Tyler
II ":rh millions u tie people OF thu, country,
! feel deep debt cfgratudc towards him iJr his fin
resistance og lie Fiscal Agency schemes forced upon
him during the extra session; and for ihc two veior7 Is
which that occasion he saved the Constitution i:oin
violation. Nevr, my life did speak more rnly than
when asserted, the close Of The last session, that
would BE- wiling TO lake almost any measure within III,
limits oi,he Constitution, which he might recommend 10
Congress Tor tie receiving safe keeping and dsbuse
nent Of the public money. For my part, fell d.s
posed 70 give Inn perfect carr blanche, provided his
plan was Cunaed 10 lic constitutional Gblncts oi the
Government aud II promote the peace ct tins country
Eu Sir, when i extends beyond these objects, when It
proposes q Issue Government parer currency and Ia
put the public moncy oct If the grasp Of the Govern
men! aud into the hands OF irresponsible persens-,o
these features q the plan must give my Eiost solemn
aud determined opposition. And, SIR, II Is right,
my humble Judgment that the Public should now know
our opinions on 'ilS Important snlect II. energy ana
industry 81 the American character are such That they
"s relieve themselves trom The depressed con'-
,iuu il w.,ic thy They viii soon elevate Tie
county, and reinsate - Prosperity, il 'c u themselves
Bat n Ing Is the people, instead Ut attend mr. 10 their
business, T. be kept looking 10 Congress a. The so!e
ncaus of rctt. their energies wall b. para! zeal and
they vii BE- "spccin@ rclo iIo;n sunrc" from winch
80 rc,i come. Waic chasing shadows, they riii
d me elevate he country - IL iiI!I tcsiaS .vc
boxed - tbs plan every shape III "hich i rnH'd
~ ;!>e!i - my mind uaa can sea '!nsg II u
bt p,aa a; great Government; Bank. confused rv-
cnsivyI; by oaicprs Of the Government. ~" ea!'e'
;u:nishtG excl i.v",f ~ the Government -:hr rtprr
i,,aci az Tie Guyernent--i;l short from tl.t - ilsi,
i Is n1.;j I'M Government Bank. what, -. bre
the iunr;i. n 81 ban'--og c h;gbe. character u
hanl. T. Grpcsitcs to issue paper :us.en-
c9anG to loan uonec esther by purchase Or discount
n bills. These lie three important functions 81
tank And ;hcy nnt ali embraced III Tie prop"s"d
in%titati.n hni re, wi'!i T." greatest na,rei' sc
NJ n.G l. The Secretary III the Treasury tint t'4 can
mt b. asmou.na:cd Government Bank N"w, SIR,
yy ycry hlri,y state shat conceive II 10 be- before
make objections !" =,
II proposes to establish an Excheqrcr Beard consist
~ 1t lie member. III the seat Of Government The
Secretary ri IN. Treasury ard the Treasurer Of ~"
t. :, are 10 ne ofico members Of tie Lsch,q."f
iioa IL There tlrcc commissioners appointed BY
,h,> President with tie advice aud consent u the Sc
nate. These commissioners, thus appointed ny lhe
Executive are u lo! their Offices Tor SIX years ~
first one If Item be appointed Tor two years, ano
Their f,r four and : third for SIX yearsso IS I" have
change At the end Of every two yeurs Ut one conmis-
slancr These commissioners are removable It plsa-
sure ~ the President Of the L. s 81 physical
INABILITY, case 0i IHc1pael'y. mus t"Ph, =
IRE a; al board, AT The head Of %c - placed TIE %
cfeary oil tie Treasury and the Treasurer Ut the =
And j. hat power aud au!aariy they to haze Sir
there are to h. ftyiwo subordinate boards; Or rather.
there nav be iiitv.two subordinate boards scattered all
aver America There are BE- branch agencies, not
cycecdnp two IN each State Of the United States, ard
from The hole character IT the bill, II i INTENDED I"
have NJ lcas; three officers IL each agency There
;aust then be iiy-t%" agencies Gch having t.rcr Ho
ordi,a.. officers constituting atogctc. corps o.
hundred and I;lysx scattered al over the co!.:-
,ry in order 10 discharge The h"sieSs 81 tas tSch'-
r,ler Bo,rd What then ar" t. D. tie functions per-
formed IS th,S Roa;d. In ~" tTa, place. ivy "F"
u receive, satl; krcp, and di,3nrsc The pn".c me-
n.ys IN The neat place, they are IL act 4, oomnls-
sinncrs Of oans and TRY aSa 10 net - conirns.
.,oucrs of pensions These, :;,r, the ilumtc
duties, and safe duties which were 70 he performed
under The independent Treasury la@, ~ four or ive
officers. acting rs Receivers. General. But Ia Tie
performance IT ,'irs" duties, II any manner when
n. President o. the U. : might propose, have ali
erection 70 be sure, il ,;s bli 10 hc cut down
10 rnere independent Treasury, fan! officers might
pc.taru liz u;lcs Now, SIR, what are they: Are ry
The duties Of a bln; or no, In The first place, is
A,eucy may receive fifteen millions Of dollars OF depo.
s, and these different Agencies may ca, up the aus
received INTO the snars: fractional paris and ISSUE
certificates ii dcposio, 10 form circulating medium
throughout the country. Now tins part OF the bill i
somewhat obscure: for while IL declares That taese
certificates shall be circulation, II docs not decdre
,Eai lhcy arr 10 be received for public dues; and dn
no, knox whether il intended Tia. these fifteen mi
hons Of uoli and silver shall constitute any part oi The
banking capital not It Is not stated II the b B"'
enough o that. In the next place, there ' Inc power
II receiving Gcroa,,ca II TIN essential ro"sf- 81
!, bank Ard there a:c many banks confined 70 r'c'I"'
ing deposes atone, aud 10 issuing ceIuica'es Of cepH
siies Although | an not in favor OF that part Of u:
BILL il is the least c1ceptionabe portion to me-
This Excheqacr Beard is TO put INTO circulation ~
teen millions Of dollars, reduced down to I'VE dollar
ntcs md according - the common principle 81 ban.;'
nr tleY are 10 70 for three; and IT there IS 10 he
one dollar Of specie in The Treasury of the T. - they
ARE 10 issue three dollars q paper money III place OF ~
Then it is 10 b. bank OF ssac-a bank OF discount.
Can any ono doubt that It IS TO be bank that Il = 70
he my honorable friends Treasury Bank, taken IRON,
the contributions private individuals, and transferred
10 the Treasury of the L. S, to loan OF, on discounts
because, whether Yen bny sell exchanges, IS all
the same thing II il an accommodation loan, and ii
il sniisct;ng the H. S. ali The risks winch BANKERS
brokers, and Spectators subject i to ana such
IS no honest man would he wiling to place ~ Their
hands.
Then Sir, suppose il wlll not be denied that THIS IS
. Bank Bat ther" is another opaendage OF bank
i is Bank precisely the Alabama pr'nc,Pe-"'tn'
nut meaning to cas-, any reflection on the state repre-