Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-06-09
necessary carry any of the granted powers

measures necessary to carry any of the granted power
into effect
Entertaining these sentiments, it is utterly mpos
sibe that General Harrison could have been in favor
The reestablishment of the late United States Bank
or OF the establishment OF any similar institution, ant
the Wings were perfectly aware Of this fact at thu
time of his nomination for the Presidency.
Neither was General Harrison understood by thu
country to be in favor of Bank What said the Wing
press upon the subject? | have already shown you
by the extracts from the Yeoman and the Lynchbnrl
Vrglnlan that it labored to convince the people tina
General Harrison was opposed to Bank. What salt
the Conservatives What said Mr.. Ryes, the leude
of that party in his celebrated letter, the prnci
Piles OF which the Conservatives seeded in solid body
from the Loco Focos, and went over to the Wings
who received them with open arms-a their late at
ected adherence OF treason and traitors to the
trury, notwithstanding "Bu it is said (said Mr.
Riyes,) that General Harrison is in favor of Ma
ona Bank In regard to this last allegation, lhinl
shall be able to show you presently that it is wholly
gratuitous." What said Col Payne? ale, Genera
HarrsonJ said expressly that Congress had no powe
TO establish the late United States Bank" What
Mr.. VIM. NJ. Peyton, of Roanoke 81 shall vote 70
General HARRISON because he is opposed great
shadowing National Bank" What said Senator An
derson, of Botetourt "ln the late Presidential can
vass he General Harrison,) was charged with being
Federalist ultra United States Bank man. and ar
Abolitonist md supposed, unit, very recently, tina
the charges were true, but, npon examination of them
find tina, they are wholly false" (See Yeoman pas
sim) What said the W!rg State Convention of North
Carolina ? The charge, said that Convention in ar
address TO the ope of that State, that General Har
rson is Bank man, is lie, What said the Virgins
State Wing Convention Of $780, in full view Of all the
facts Of the case That General Harrison was in
favor of Bank? Nothing like it but tha, SO far az
they knew believed General Harrison had but one
opinion about Bank, and that against it. will
read you brief extract from their address to the peo
ple of the State signed among others, by MIR. Toer
Mr.. Peyton, and your late delegates, General Charles
P. Dorman, and DR.. Alfred Leyburn.
GAS TO a Bank, (said these gentemen,) Gen Harri.
sons unqualified declaration that unconstitutional
is before you and there is 10 Geiiere that he
is in favor c National Bank any form, for he is
assuredly opposed TO Government Bank AS FAR
AS WEKNOW OR BELIEVE, GEN. HARRISON
HAS BUT ONE OPINION ABOUT A BANK,
AND THAT Is AGAINST IT."
And yet, in the face of this OF irresistible evil
dence, The late Wing State Convention, in an address
to the people OF the State bearing the honorable sigma
lures of Watkins Leigh, Chapman Johnson, John II
Peyton and others, positively asserted that The Wing
party of 1910 ADVOCATED the establishment Of Nation
al Bank -!
The Good Book, f.llow-citizens, wisely admonisbes
us "Put not your trust in princess, and add, in poll.
ticans either.
The ancients had, believe, temple TO the God
Terminus-a rather singular sort OF God; but nothing
erect temple to The God HUMBUG, the great in.
spring genius Of their party, who suggests and con
trolls all their operations, and whose affairs groan with
their richest citations.
The motive which actuated tho Wings, in 1910, TO
disclaim all idea of establishing Bank, is obvious.
Their object was power They knew, that large ma
jority of the people of the S. were violently hostile
to National Bank; they knew too, that, without the
CO operation OF large portion Of this party, they never
could obtain possession of The Government. They,
therefore, attempted 10 seduce these anti bank Locoo
into their ranks, by false and fraudulent professions
which they now confess they never intended 10 fulfil,
in the hope that when they had once got them fairly
harnessed 10 their party, they would crack the whip
over their heads, and drive them like team Of we'll
broken mules, wherever they pleased.
For myself, fellow-citizens denied, in 1s40 through
the columns Of the Lexington Gazette, Of which was
then Editor that National Bank of The is
then before the country, declaring at the same
tims that compared with the great principles of Con-
stutonal Liberty and administrative refurIn, it was o
poor, little, miserable pu thing of dollars and cents,
unworthy Of nomen consideration also declared,
that opposed to the agitation of the Bank ques-
ton, and that, when overwhelming majority Of the
American people should be unequvocaly IN favor Of
Bank then, but not Till Men would advocate The es.
Enlistment Of carefully guarded and rgdy restrain
ed institution of this character That period not hav-
ing yet arrived and there being probability that il
ever will arrive am, for this and other reasons 10 all
~
point, adhere TO the position of the Wing purity OF
l540
Although it does not fall within the line of remark
have chalked out to myself, 10 discuss the expedency
Of establishing National Bank at this time, yet, as a
Bank is so earnestly pressed upon US, by The Wing
DOCTORS the great panacea for all the pecunary evils
which atll country, cannot forbenr 10 submit
few remarks upon that point TO your ndugen conside
ration.
If the country, fellow citizens, were now suffering
as it was in 1916, under the evils Of redundant and
deprecated circulation, and of high and huctuatlng
exchanges, a National Bank, by afording natonu
currency, circulating in all parts of the Union at its
nominal value, and by compelling the State Banks tt
COLL in their paper, might afford efficient relief. Bu
our situation at this time is the very reverse The
exchanges of the country were eecteo al iowei
rates Throughout large portion OF the Union, they
are merely nominal Wherever the local banks are
specie paying and unquestionably solvent their notes
are cashed in our commercial cities, ut discount SO
trHns as be unworthy Of the consideration oil Co
vernment. Impose such restrictions on your State
Ranks fellow citizens, will make Them ailcdys SOL
vent and specie paying, and you will have no reason
10 mpain of the Of exchange or 10 desire Ma
,ona Bank a regulator Of the domestic exchanges
The present condition Of the exchanges proves that
fact beyond all doubt. Neither 10 the currency re-
dundant and deprecated. On the contrary, the uni.
yersal complaint is, that il is deficient. Admitting
such 10 be the fact the establishment Of Bank, al
this time would rather aggrayate than relieve the ex
listing Distress by contracting the circulation first, by
exhausng the State Banks Of their specie 10 put the
National Bank in operation, and secondly, by the as
trinpent operation of The monster on the State Banks
themselves. The local Banks, it is universally con-
ceded can discount Toe much larger amount, when
restrained by National Bank. II you wish to make
money plenty reckless Of the ultimate consequences,
all you have do is not TO establish National Bank
bat TO compel your State Banks to discount accom-
mediation paper freely, having years to run. on any
good security personal or real that may be offered -
Every man then, who wants money, will run to the
Bank and help himself, and money will abound.
Blu, deny that the currency is greatly deficient
The Banks in the city Of New York; (and probably in
our other commercial cities also) have specie in their
vaults larger amount than their circulation BY Sc:
vera millions Of dollars and they could safely extend
their line Of discounts twenty or thirty millions
Prices generally it is true, low, because the mar
kets are glu:ted with agricultural products, and with
other kinds of property forced under The hammer TO
pay debts. But, put up valuable negro al your Court
house door, or send lot OF good tobacco TO Lynch
burg and they will command fine prcesia cash. or on
very short credit, because the market IS mol suted
with these articles. The country is in debt and unable
to buy agricultural products abound and are very low
money consequently, very scarce among he farmers
and great demand, but still there is enough 10 trans
act all the current business ef The country.
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