Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-03-05
THE BANK QUESTION.

from The body OF hspfest natives gratifying GAe 10
them and his i'm nsdiaie constituents
THE BANK QUESTION.
Our first No is crowded out hs morning bv The
-ar,eiy of matters from Washn ton and other quar-
tiers, which fill our columns. But we lay before our
readers The following very brief structures, which ~
pear in the Shenandoah Sentinel. The effort of The
Wings to make Va The FederaI'sis and themselves The
Republicans and ID make nut tn Il the Bank r :
publican measure IS procs II he unc0ndid and dis
honc.t which ,h"y pursued N iSIo. 1t -
again The scheme ot seeking get INTO power ord r
tlse ptetences The advocate of the Bink in the
Richmoad Wng, SETS out with the false prop0s ton,
that becausa under ,hc ARTICLES OF confederation the
Bank of America was established ,rCi0re the pre-
sent Government OF the United States having mere
extensive powcrs, might establish Bank. N-ve7 vas
greater heresy put forth never grosset mlsrapre
So ntalon OF the true theory IT The present Fede raj
Consultations The present Constitution was framed
to supply all those powers, which were f"nnd
nv exper ence to be defective under the coniedera-
ton The Republicans contend truly, with old
George Cn,on,) that The Stiles have given the L
States what they CONSIDERED powers enough-bnt It
on further experiment, they should be found INSULT
cien they had $50 adopted ndaory clause I, ask
FAR powers from the parties To tln compact THIS
IS the oaIr trur Republican dpctrue--ai else is
rank Federal heresy. To say theu that because such
power was exercised uGder the confederation IT
he a. SERTED now, is 10 1t IN source Of power
which was drec'lY contrary To the views of rs Ira.
!
upon these erarer matters Of The iw, careless and
erroneous in its statements Of mere facts. 1t 49, there
fore not to be trusted. !, says, for instance, in it:
Is, No that "Congress passed (,he charter Of the
Bank of Amerca) iti"t question betng raised t.
ia competency TO enact 1t says To-, among those
Who voted FIR that Bank, Mr. Madison. Why
the War writer must be of the most careless w.l.
Iers cf the day We know, that Mr. Madison declared
N his speech tina, he Bank Of North America ''ncver
could be justified by the regular powers Of the art c~s
n confedrraiiGn- Congress betrayed conscious
ness Of this in recommending 10 The States 10 inc"r-
oorats The Bank ulso--ard tho resolution snprov
/ mo Of the plan for establishing National Bank ION
Nav 20, I7sI,> NJ. Vi It'son vot- M.
The fact IS thai The lst Bank Of the United States
in 1921 was Federal measure Hamilton for it-Jct-
lrr,on against it aud that, Judge Marshall sa.s i.
was one of the first questions which constituted the line
If dcmarcalion bcw cen tic two great parties, (Fede
ralist for it, Republicans against it) When the Bank
was discontinued in lsl0-'ll, who put i, down The
Republican party in opposition TO The Federal party
Henry Clay did TIM make speech against il. liz
then proiessed TO he member OF the Republican
party BIT lie has since become a shameless turn
coat an This very question Another Bank wa
established in 1916, by the joint vote Of boif
,or,;cs-but il was in 4 moment Of panic from The
pressure Of the war, ard the debt il incurred Some
oc tho Republicans did finch tien bat il was not the
sober second thought. IL was again put down by th'
votes of the Republicans at points with those who art
of tho Federal party EHofis were H'aae 10 e''1Wl>i
another-but The veto Of that old Republican, Jackson
with Martin Van Bnren by his side prevented it. Il
nov y nromincut Federal measure, supported by Ola!
and his CLIQUE on the hand and opposed by the Re
onbIicans on the other Aud this question: in lSl!
Iohu Tylcrs veto did Icomans service. 10 say then
Ina, the Bank is not a Federal but Republican, nea
euro is 10 misreprescn, the great facts in tie very fact
of he record and can only be accounted for by ih
nrincn!e Of lSl0-tir want of candor aud The want
bore>iy Bat we shall take up The subject regularly II
! our next:
sTIe EfpuLfiraa Party and II u. Hatcs Bank -Th
E d,oI ~ ysosop.s are ,esuag with articles upon TN
.nb;sct of .he iie y. Stats Bank and the agency o
The Republican party IN giving charter, N lsio
W. o,e I'D ha. very Rpahi, az member then IN Lon
,,rs fm this State voted ier the bank. wh l. their r.
d,ra colleagues voted against II to man i1're''e' h
RINK was Republican and not Federal MEASURE
THIS proves nothing What was then tired ss an TX
aad,.p, has been weighed in the balance and fnnnt
wanting II q portion of the Repnhlcan MEMBERS
CONGRESS voted for the Bank Of lelb- then
Do.s il not prove that the Republican party II oe con
s,s,cn, oucnt now 10 favor the re-cs'a shment o
,ht ,nst;tu,on with The HISTORY CT that institution, be
CO ,h.,r eves-.,he mantle silly cofrnpting Influence
x,c,sed over The ACTORS of Congress, the sent 'nen
nj tlp Press enracsd in its interest and me whole bod
nnltc2 Certainly rot. II II prov any N NJ, IS toa
they were in error live are n nisHk'n me ii"pao
Fad raj parties equally divided On 'hevo'
~ mo hill a,tar,nn the hank IN 1916 Il this - true
lint roe did rot make IL strictly P0y measure. but In
assumed quite different ASPECT ,,1m yea
1880, or perhaps before. The Republican rafty wen
AGAINST the Bank in TITO. And the elevation OF Gen
Jackson to the Presidency and his triumphant relic
ton, after the removal ofhe deposit, Drew the gram
dividing ne between the ftdr,ai ana hspn"nean pa,
lies The latter repudastd tic Banks s tuTnner espouS
Ell Il.
nBut if the Bank be a Republican MEASURE. then wa
Nf. Clay Fed.ro'st il ISL, when he opp SEQ ~
Rank so ably, in speech in which he declared tina
Gaaa,ess b,d no constitutional power 10 charter
Rank. and thu, ii would b. nexpaden, and danssron
10 dn so. But was Nj. Clay FtderaI's' taen VFt,
mo- he was Republican, aud became Federal :
,yhen be io,ned himself that parry, and when th
Republican party opposed the Bank
Did not the rfopost'n TO esiahi'sh -',,ioha
R,n. or;o;nats with Alexander Hamit'n, lhr Prnc
If The F.dsrslis. DID he not propagate The c"otF'n
that The fiscal affairs Of the General Government coo,
not be conducted without The agency OF blnk,
the source from which this measure emanated Is
determine ills character, it Is clearly Federal az
must forever remain So