Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-02-22

"ouiu uouolless attained the highest OF
They, Mr. b. said, were fully supported b. himself
yunder these disadvana ges-ti only thing remarkable
1was that the discontinue OF the Democratic party
4not more complete.
But the question Of Distribution in 1899, very d-
I'ferent from what it is now Then, advocated
upon the ground that il would make increase OF
The Tariff necessary; but would only enforce upon the
General Government economy. MIR. Is. undertook TO
shew at the time, by minute calculation, That ii The
distribution took place, there would be deficiency IN
the Treasury before this year, 1912 when the compro-
mise would 90 fully into effect; which could only be
supplied by increased tariff disturbing the compro
mlse BY contracting debt. To obylae this obec-
ton, MIR. Tyler moved 10 add resolution, which was
adopted by majority Of about three 10 one, declaring
the Compromise oct should be held "SGcrcd and ,nri0-
late" The great argument urged during the debate
was, that under the Compromise Act, whchit was ad'
mitted should not be disturbed, more money would be
brought into the Treasury, than would be necessary
for the economical wants of the Government aud that
if the proceeds of the public lands not disrbu
ted they would be left in the hands of the Admins
taton for the purposes of corruption But now there
is an dged and asceralned deficiency; and u
you distribute, you create vacuum which can only DC
filled by an increase OF the Tariff.
The gentleman from Fauquier repeating, as had been
correctly remarked by his friend from Louisa, the
speech which he made days since on his PROPOSE
ton TO amend the Constitution, inveighed very elo
quenty against the accumulation OF power IN the Tx
ecutve lap. To much of the argument of the gen.
teman referred 10 the fearful encroachmens Of the
Executive of the IT, S. for the last twelve years, he
meant TO make reply. To those distinguished mem.
bers Of the present Wing party, (he Conservatives
whom the gentleman highly eulogized the other day.
in his speech against Executive patronage, and who
sustained General Jackson during his whole admins
tralon, when the gentleman himself would admit,
the greatest Of the charged entertainments made
he would leave that task But few encroac,men ts
were charged the Democratic party since he acted
with it, and they required no defence In truth, Mr.
Speaker the gentleman said bu, little about The dangers
of Executive patronage TO which do not most heart
iy subscribe | only differ from the gentleman about
the remedy for them The gentleman makes vision
airy proposition TO change the Constitution !, said
Mr.. Bayly, go for prostraton of those measures
and that system Of policy in which the frghtfu amount
of Executive patronage had originated lie was moi
for changing the Consttuon-thut not the RENE
dy but for administering it according 10 lis spirit and
true meaning Let remedy the evil by eradlcuting
the source of it. Where was that 10 be found He
shond attempt to point out, although he did not feel
prepared to do justice TO the subject Mr.. Bayly in
sisted that the vast accumulation of Executive power
had originated in that system of measures, of which
the gentleman and his party the advocutes-the
most prominent of which is the Bank, Tariff, Internal
improvements, and, above all, the Distribution. He
| askedto be INDUCED in short detail.
lst As to the Bank. lie shonld consider this ques-
ton in only one aspect-as 1t regarded Executive pa
ronage. was the question upon which parties formed
in l79l Accordingly the testimony OF Mr. Jefierson
il was introduced with view of strengthening the
|
of it, Believing the General Government to be too
weak Gen Hamilton attempted TO strengthen Thy
lraneous aid. With this view he recommended the
| Funding System. But as that would be temporary in
lis effects he introduced the project oil Bank which
would be more permanent in its operation. better
plan of strengthening the Executive arm could not
have been devised
4 National Bank is the natural ally of power. When.
ever has been thrown INTO opposition to power,
was in an unnatural position. The Bank of England
| Inc, cnr half
ment The evidence before the Bullion Committee of
1870 proves This celebrated Scotch writer says:
at p notorious that the Bank Of England has for the
last fifty years been TOOL alternately OF the Co.
vernment and Of iun,o in the Bank parlor, and that
the interests of the merchants of England have been
made matter OF secondary consideration" Let il
not be answered to this, that the late Bank Of the U
S. was the antagonist OF power II was mere accident
that il was So Its President and the most influential
of its directors bitter patzans; and being nmical
TO Gen Jackson politically, they dsregarded the inter
ests Of the bank engaged in war with htn-hopng with
the power Of the bank 10 be able to break down his Ad
mnistraon. And here he would pause to ask, if any
circumstance could give better idea OF the power of
bank than this fact Gen. Jackson had into Office
by tremendous ortty, and was most popular and
influential President And yet the directors of the
bank, who best knew its power and who were wary,
cautious me n thought they could successfully
ter him with all OF his popularity and the power and
patronage of his office. They were deceived. After
most esperae struggle, which very few could have
rone through but HIMSELF Gen. Jackson Frustrated
The bank But the bank all this time in unnatural
position. S,riie-partcuarly political strife-s not
congenia element to moned institutions. They prosper
most in calm and sunshine. And, MIR. Speaker, con.
tinued Mr.. b. you may rely upon this, no bank here
after will involve itself in contest with the Pre-
sident The late bank never would have engaged in
such contest had been under the control either of
the friends of the President persons ho looked alone
its pecuniary prosperity. But be thS may, any
future Bank which we may have, will make the wreck
Of that institution its landmark Never again will
this country Witness as other country has wit.
messed, contest between National Bank and the
Government, from which it derives It's existence. Ever
hereafter il will be the ally Of the Government and
under the control Of the President, it will increase
Executive influence TO an incalcuabe amount. Of
all the means by which power can assa community,
bank is the most nsdious and fearful There are few
communities which withstand its seductions There
are few who can be directly bribed; and if they
could, this operation, be carried OIL to any extent
would be too expensive. But there are as few who
cannot be controlled through their interest. A bank
ing institution ia the most efecual means Of doing
this He would illustrate this position by an ex-
ample Suppose there National Bank in this
town. under the control Of the friends OF the Pre-
sdent, as every future bank will be. There are
two merchants upon the street The pros
perity-perlaps the very bread of each of them de-
ponds upon their getting accommodations The one is
friend of the President and supports him and his par.
tzans the other is opposed to both. The first goes TO
the Bank with his note and it is discounted; the Sc
cond with his equally we'll endorsed and he is re.
fused. What the last say or do? He knows
why he is refused. but the bank will not assign the
true reason, and he fears TO complain Merchants do
like 10 trumpet that their paper has been thrown
out by board of bank directors. He would know, if
he complain, that any other but the will be
assigned for the act-probaby which would inurc
his credit. Perhaps he in danger of protest, and he
knows he changes his politics he gets his accommo-
dations. How many would stand out under such
circumstances? Nlneiy-nine in hundred would
give way, and the victim would have been corrupted
without the loss to the bank or the president OF
cent. He did not mean TO 60 into all of the
notifications Of bank influence. Mr. Biddle told u.s.
that there few State banks which the late Bank
of the u s., in the days of its prosperity could not
have crushed at any moment. If this were true as
doubtless was, what ghtful state of things did
not disclose' Having the State banks In s power it
was able not only to approach the community in the
manner he had pointed out through its own branches