Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-03-16
COMMUNICATIONS.
TO TIE PEOPLE or yi fU;i Ike NFfo'8k1'

OF our attention 10 the public
now passing before US, To explain common princ.
PIES and 20 contrast them with those of our poltcal
opponents.
In The approaching elections the same principles are
involved and to a considerable extent, the same mea-
sures, which have divided The parties of The country
from the adoption of the Federal Constitution These
elections inferior in consequence few that have
preceded them These parties owe their origin to
4 period, which anterior to the Constitution
itself In the Convention which framed that insru.
ment, two parties existed, distinctly marked by the diff.
ference of their views Of Government and the powers
which IT should possess. The one not properly an.
precia'ing the PECULIARLY OF our political condition end
The character oil our people, disrustinr their ca
pocy Tor sell government, and taking warning from
the late oil other Republics, and the eebleness and in
adequacy Of the old articles Of SOUGHT
to confer, by the Constitution almos. unlimited POI
While the other, believing that there was no analogy
nat rather contrast, between condition and PEG.
pie, and those Of other free States, which had existed
Tor me in the old world insisted that these powers
should be only few, and clearly defined and that the
great mass oil sovereign rights should he reserved to
the States and the People Fortunately, for the hap.
piness OF mankind, The latter party succeeded.
The difference OF opinion, which prevailed in the
Convention which framed the Constitution, gave cha
racter 10 the parties which speedily formed under
1t. The advocates OF strong Government still en-.
ertainng the opinion, that there was greater DANCER
of anarchy amongst the members, .ban power in the
head, which actuated them in the Convention at.
tempted TO obtain powers for the General Goyernmen mt
by construction, which The people had reserved TO the
States And, with this view, they adopted rule of
construction, which, in the language of the immortal
Resolutions Of Kentucky, made the discretion Of Con.
gress, and not the Constitution, the measure Of lis
power" The other party endearored by constituting
It according 10 IT'S PLAIN and intention, confne
II to the exercise OF the definite powers delegated for
special purposes and leave the great mass OF sovereign
powers to the States Cor their own self.covernment-
And, although The experience Of fifty wears has shown
that The opprehensions Of the advocates of strong
Government unfcuIdec their doctrines orpinat.
ing in them md only excusab!e when form OF Go.
vernmeDt had not been tried, still entertained by
the Federaiss Of the present day
To enable the advocates Of power to accomplish their
purposes, has not only been necessary substitute
the discretion of Congress for the Constitution but TO
dispose Congress itself 10 loose construction of that
instrument. And, not content to trust the natural
disposition OF man TO extend his power and to view
dangerous which ID exercised by himself that party
essayed to strengthen the Government and increase
the Executive control the representatives of the
people and the people themselves, by aids foreign TO
The Constitution. With this vew shortly after the
Government went into operation the Funding system
proposed: it being thought that The holders Of the
paLlc debt, who were very and influential
class. would be filled with gratitude to administration
which had increased lis value eight fold and that they
would readily ecqn!esce in the possession of any
OF power BY Government, which exercised il benz
fceny. Thus early in our history the attempt
made 10 rally The noned interest of the country 10 the
support Of power. But it foreseen that the nau-
ence Of this measure though potent for time, would
be transient; and IL %as designed to create permanent
one with The same tendency, by The incorporation Of
a Bank Of the United States
No institution could have been devised better suited
10 the purpose In the first place, the charter Of The
Bank Of 1891 authorized the subscription of three.
fourths of IFS capital stock to be made in the funded
deb thus making that debt available for commercial
purposes, farther enhancing its value and increasing
the favorable disposition OF lis holders towards the
Government. Besides, il was anticipated from the
nature of the institution, and the history of the past
that it would become the ally of power. A National
Bank is the natural ally cf the Government 10 which
It owes its existence. Whenever one has been thrown
into opposition power, j, has been in an unnatural
position. The Bank of England, from the time Of its
establishment in 1894 has been the creature ofthe En-
giish Government. The evidence before the Bullion
COMMITTEE of 1910, proves this beyond question. A
celebrated Scotch writer says alt is notorious, that
the Bank of England has for the last fifty years, been
mere TOOL alternately of the Government and iunto
the Bank paror, and that the interests of the
chants of I'm gland have been made matter of secondary
consideration Lett not be answered TO this that the
late Bank of the u. States the antagonist Of the
Government. 1t was mere accident that it became
So It's President and the most influential Of its hi.
recto-s bitter partzans; and being nnica to Cen
Jackson, they dIsregarded the interests OF the Bank
and engaged in q with hm-hoping, with its power,
TO be able TO break down his Administration. And here
would pause TO ask, If any circumstance could give
better idea of the power Of such institution than
this fact. Gen Jackson had into Office by re
mendous majority, and most popular and nfluen-
tial President-and yet the Directors Of the Bank,
who wary, cautious men, Ind best knew it's power,
thought they could successfully encounter him with
oil his popularity ond the patronage of his Office. And
il not until after most desperate struggle, which
few could have sustained but himself, that General
Jackson trumphed But, all this time the Bank was
in unnatural position SYSTEMATICALLY political
s,riieis not congenal element to monied nstitu-
tons. They prosper most in calm and sunshine.
As mpotc the establishment of National Bank
was in the first instance, it will be douby hereafter.
Ne future Bank will ever involve itself in a contest
with the President Through oil tme the wreck of
the late Bank will be landmark 10 oil similar nsttu.
lions Never again will this country witness,
other country has Witnessed contest between
National Bank and the Government 10 which it
owests existence Ever hereafter il will be the ally
of the Administration for the time being, and, under
the control Of the President, it will increase his pat
ronage and influence to incalculable extent.
| As en- ally of the Executive, none could be more for
ndable or all the means by which power can assail
community, Bank is the most nsdious and fearful.
| There few communities which withstand its
seductons. There few men who can be directly
t,icked and if they could the operation, TO be carried
TO my considerable extent would be too expensive.
But there few, who cannot be controlled through
their interests Banking institutions the most ef-
fectual means of doing IT, This may be illustrated by
an example. Suppose there were National Bunk, or
the branch of one in the city Of Richmond under the
control Of the President or his friends, (as every To-
turc Bank will bel and there two merchants upon
the same street extensively engaged in trade Their
proprrty-perhaps their very bread-depends upon their
getting bank Accommodation The one is friend of
tie President and supports him and his parlizans-the
other is opposed to both The first goes TO the Bank
with his no'e or bill of exchange, and it discounted
the other goes with his equally we'll endorsed, and he
is refused file knows why he is refused; but what
he say do' II he complain il wosd be frutless, if
be had any one complain TO- Besides, merchants do
moi ike to trumpet forth TO the world that their paper
has been thrown out by Board OF Bank Directors
If he complain Of their doing so, they would defend
perhaps, which would njure his credit But he is in
danger Of protest. and he knows if be changes his po-
liiics, he gets his accommodation. How many men
would stand out under such circumstances fear Of
the of the world would not restrain him, for no
one out of the Bank would know why he had changed
and its officers could disclose the wiihou,
eliminating themselves Ninety-n;ne in hundred