Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-05-09
POLITICAL.
iH. viI GUREN's REPLY
70 the hfmee,a,;c STATE coaeentisu IF Indiana.


an! other Aa'ona! institution, by whatever IL
may be called, authorized bills Of credit for
banking purposes or 10 regulate exchanges, and OF the
cohsllnlionay aud cxped,eEcy such institution;
ID, 10 Tue ~ sribution of the Proceeds OF the Public
Lands among the several States Of this Union; Sd,
Protective iari dtb, 10 an amendment OF the Con-
sti'ution sun further limiting the Veto Power and
quirng, IN conclusion, whether VIII abide the deci-
SION oi National Conven,ion of the Democratic Party,
in Tie selection OF candidate for the Presidency, and
whether "iil give my support and influence 10 The
election OF 'he nominee of said Convention, II rot my.
self nominated byit
II affords me inuci pleasure 10 comply with the re-
ques, 81 The Convention, aud have only TO regret.
that the number snd importance of the subjects
raced IN their Undergraduates and the Necessity oi
some explanations 10 do justice 10 the views entertain
III regard to them, will unagodabIy extend my reply
20 a much greater length than could have desired
| BANK CT TIE L. 5.
am oppose d 10 The esab shnent OF National Bank
IN any form, or any under disguise, both constItu
,iona grounds and grounds Of xpedency. The rnwer
10 create such an institution has not been given 10 Con-
gess ny the Constitution neither it necessary the
cxcTc,sc o. any o! the powers which are granted and
II exercised, would be-, IL always has been highly
injurious 20 the public welfare These opinions, alike ad
verse 10 Tie cons,iaoGay and expediency Of n Ma
iona Bank, have been frequently and extensively laid
before the people, and sometimes occasions OF deep
interest They were expressed IN my letter 10 the CT
tzens assembled u, Shocco Springs in North Caro-
Wee Presidency; repeated in 1886, hen standing
in similar relation 10 the Office Of President Of the
| United States in letter 10 The Honorable Saerrod
| Williams which was widely disseminated; and relie-
rated III my first message 10 Congress- at The extra ses-
sion in 1881 when the attention Of the whole country
was again drawn 10 Tic subject by the failure OF the
deposit banks 10 fulfil their engagements with The TO-
vernmcnt. The opinions and principles arowcd On
these various occasions, have undergone no other
change than that Of additional conviction Of their truth
| derived ron MS hat have since occurred
| nigh; res. here, content with this explic. avownl
and proc cd reply your other heterogeneous, were
not that this appears TO me- proper cccasrrn 10 advert
10 the depo5ahe cG.a,.ics inflicted on The people ny Tie
conduct and final catastrophe of the late hank, through
the perversion o: means ard the abuse oi lis power
1t is true, that this ns.i tuition is no more Il has
sunk under the weight ii liz enormities, and has
lief. nohrg behind but the wrecks Of lis career But
the interests, pecuna.y and political, the parents who
first gave it btlh and The nurses by whom 1t was
iustcred sill SURVIVE with lie Of produc
ing another offspring, and the same disposition I" en-
| p!oy them whenever favorable opportunity presents
Itself The question of National Bank is still before
the p,onle and III continue to be, long nvarice
and ambition in il The means 81 gratifying Tie o"c oil
money and the love o power. IL IS one OF the great
leading measures ri party which VII! never be extinct
in this county il is essential 10 the acqnis',ion
ell preservation OF its power aud will reTer he re-
l,nGu:shed while there exists hore Q! lis attainment
Fhe only secc:.y against lis revival IL IN tie public
opinion, end mat has more tnai once ttpn leuHG
20 be su.c barrier. For this reason conceive
il proper tina, every should be taken 10 recall
10 the public recollection, by way os warning exam
pie what other might be better for the honor OF
our country to bury in oblivion.
The mschiefs inflicted individuals by the abuse
OF the powers o? this potent institution have been so
general az 10 impress the public mind with sufficiently
clear perception of their magnitude; but the extent OF
rs power only be Justly appreciated by those who
ADM stored the Government during The period OF ITS
hostility. The arerc: whrch the unparalleled abuse
Of this powe- xcusvelv conferred for the public good
had prod icing those embcrfa ssneD:s III The business
concerns af lie county well n the pecun'a'y nj
fairs of the State and Caneral Governments, It IS be-
eved, not clearly and generally understood But
even If it were, oe often too ply I'M
pressed the mind and memory of the people "i Tie
e. s The p-omp,ings of political ambition: the pas
son for money; the enbi feelings CT party strife;
the Apprehension Of disgrace; the f,a- Of punishment;
The art fees Of long pIacced deception, and TIE strong
bond Of community IN frauds, have all exered their
influence in hiding from public view the seductive Pric-
tees Of tie bank But The people wall never rest salts
fed trust, until they know what inns become OF the
Amos, countless millions Of which The states and ind
vl4uols have been deiramded By long confined series
Of nismanace mcni and corruption. The truth Will yet
be known. and The purposes Of justice al length accom-
pli.hed.
'r:.etso great measures by which the late Bank OF
The United states operated most fatally np.n The pros
aeriiy and happiness q! The people were i:;s, wan
| ton contraction oI lis ipdnE, dHu neat,
reckless expansion, both having the same Object IN
view-nanely, that of wrestling charter from reluc
tant people IL cannot be forgotten that PRESIDENT
Jackson 10 the exercise OF power delegated by lne
Consuton refused his assent TO bill renewing 'he
charter of The BANK Of the United States and returned
!, Ia (,onrss where il "a led of tile constitutional ma
io,;,v For this lie was asseed with every species oil
denrncialion By the adherents 81 The BaEK WINE III
umphanly sustained hy The people who reelected MN
~ orea maj 1r:ty Tina; lhe Bank refused 10 sn'fii
| no. La OIL
the cousc, ugrcss OF extraordinary power. and &C.
tarmin.t on IN exert it to the utmost. Accordingly u
renewed the contest, the recurrence OF line hrst pre-
m,nary step ieken by President Jackson !o carrying
~ Gee. llr decision soc'nnty Ta'ieo ny 'e p
! Il. This vas The removal OF the public money from
,be cp..cdr cf IN institution in winch, If 1t had been
suffered 10 rctna n is row morally certain TIE Gn-
verntncnt would have shared the fate OF the eest'iu'e
widows aud orphans, who now lament'ng Their con-
fience in poverty and distress.
The Bank determined to coeroe the Government mo
nm Abandonment Of this necessary measure "i pfecau
lion nv sudden curtlilmcnt OF discounts, WIFE"
ould IT, severey fell, and the odum OF winch II en-
p,oyed all lis and Influence 10 throw upon 1,hefai
| Jackson. In Ire short space oi fourteen "o"nf' 1"
,hrrw fro., tie eaiEerces .: trade eighteen tFltohs
f doiors and This contraction was followed by That Of
tho State Banks, either from csssiiy or common
svmna;hv on the part of soao, at 'cas' III common
cause The result of this combined actor was F"P'"
decrease OF accommodation 10 lie trade ard BUSHES
do!lays
| Il must be obvious, TIA. the sudden abstraction Of
such an enormous from the general lund OF hrsi'
ness, would be severely felt by those who traced n
whole, or in part, borrowed capital, and through
them in lesser degree, by other classes oil the Gem
munty. These partial Inconvenience *ere megn'fiso
into universal distress and widespread RUN, by news
papers and public speakers, either un1er me ofect IN
nuence of tic Bank by the bond Of dependence"
or who united ,h that institution N system ~
acton calculated sGtserre The purpose OF ho'h par!
tics Speeches Congress, presenting aggravated
pictures Of pubic distress, nlaan'aoIy P'ocscci'ss
| q. public meetings memorials Te'''f committees
and an ,nln:e 7aie,y Of other appliances, w''eh 4
rfea, moneyed institution, gifted VII! ample means OF
corrupt o. AID cenanous in employing ihen could
oinnand, were brought into requi-';on IN CIDER TO
create panic among The people and overa"e the m
flexible and Just man who then administered the Co.
yernmen
| These measures Of the Bank proved however, I'M
ayailing in shaking the !mness of General Jackson
or in deceivins The people, whose own experience,
laugh, them, tia; though there might he some partial
inconvenience and some reduction prices .here vas
nothing Ike general public distress Vars Of success
ful industry, and we'll regulated enerTze had iad 'he
/ 81 4 of mol hf shaken by The as