Holly Springs gazette., 1844-05-04
FACTS FOR THE PEOPLE.
From the Richmond Wing.
HISTORY OF THE UNITED STATES
NO
BANK NO ;.

HISTORY OF THE UNITED STATES
BAEK-NO. 5.
We have, in our former numbers, traced
lae history OF the Bank from l78l to 1915.
d has been our constant aim to avoid the
slightest inaccuracy IN any of our statements
ac,s. We have consulted no source Of
Information which we did not deem entirely
aH,hen,ic, and most ofour narrative is drawn
directly from the official records Of the
country. If we have fallen into any er-
rur we are not sensible Of it, bat il our neigh
Dor uf the Enquirer, or any one else. will
da MS the favor to scrutinlze our references,
aud detect any bllnIer, we will most cheer
UIIy c)rr ct II.
We think we hazard litle in saying that
we have established by incontrovcriibIe ev-
dence The following, among other PROPOSE
tons.
lst That the Bank OF 1901 was not
FsderaI measure, but that it was passed be-
fore the diversion of parties, and received
lHc support of men of distinction, some of
whom were afterwards classed among the
most eminent efthe Republicans, and 9TH
rs otthe Fedora lists.
2J, That The proposition to recharter
tie Bank ID 1911, was not Federal meas
nre. bu, received the warm support of Wm.
3D. Crawford and m3nY other distinguished
Republicans, and that it failed from conside-
rltions entirely foreign from party divis
Ilas
81 Thatthe efoIs 10 charter new
Eink in l6l4,'lJ instead of being prompt
tI and sustained bv the Federal party, were
mainly supported by the Republicans. with
Dr. Calhoun Lowndes, Forsyth, Sc. at
tai. head
ID now remains for us to review the his
tory Of The passage Of the bill of 1916, for
the Incorporation Of the late Bank Of the
United States
The first session Of the 18th congress
commenced on the 9th December, 1915.
President Madison, 10 his annual message
t1 that body. invited It's attention to the es-
fabijshmeu! Of a National Bank; and Mr..
Dallas. the secretary of the treasury, urged
the necessity ofsuch an institution, as the
only means of restoring a sound currency
aad facilitating the collection aud disburse-
mcnt OF the public revenue.
Ca che lG.h Of December, so much Of the
Presidents message as related 10 the sub
J.ct and a day or two afterwards the report
ui Mr. Dallas. were referred 10 n select com
O. 5 Carolina, NATHANIEL MACON
O. y. Carolina, JAMES PLEASANTS
otNlTgiuIa, MR. HOPkINSON of Penn
srlyanIa, MIR ROBERTSON of Louis
INA. HENRY ST. GEO. TUCKER of
Virginia, aud TIMOTHY PICKERING
ci Massachusetts.
The committee met at an early day. ard
determined "that a National Bank is the
most certain means Of restoring TO the ma
uln specie currency" and instructed Mr.
calhoun 10 correspond with MIR. Dallas, as
NLt plan on which il should be organized. /
ua The 24ih December, 1915, Mr. Dallas |
addressed long letter % Mr. Calhoun, in !
which he sketched the outline of the Bank, /
asH was af erwards adopted Doc. His p
o. 5 6l3 to 62l.)
Outhe Sth Jan'y, 1916, Mr. JOHN G. |
CALHOUN reported the Bill for the in |
corporation Of the Bank to the house.
Tn the 26th February, 1916, Mr. Cal |
Aoln opened the debate on the bill. We /
Peg such of our readers as have not examin- |
el that speech 70 give it an attentive perusal \
is worthy Of the greaI mind from which /
emanaied. He commenced by saving |
lie proposed at this time, only to discuss I
general principles, without reference to de-
ais He was aware that principle and de- |,
al might be united, but be should at pres
&c! keep them distinct He did not pro-
pose to comprehend in this discussion the
power oicongress to grant Bank charters,
IOf me question whether the general ten
I, \, ney OF Banks was favorable or unfavora-
10 the liberty and prosperity of the coun-
III nor The question whether National
Ink would be favorable to the operations
20, We government To discuss these cues
ms ne conceived would be an useless con-
~ APuon OF time. The constitutional ques-
Ia + nad been already so freely and frequentJ
Z u'seussed.-that all had made up their
nus nus on IL The question whether banks
+. -'e favorable to public liberty and prosper
vas one purely speculative. The fact