Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-04-06
POLITICAL.
BANK OF THE UNITED STATES.

BANK OF THE UNITED STATES.
snch an institutions the hands of bold and unscrupuou
nautical leader sustained well organized political partyb,
the manufacturing Interest," secured IN IT'S allegiance 6 t
bountes Of Protective Tariff and BY sovereign States
sedue.d by The miserable giving them the proceeds
Of the public lands and assuming Their
be literally terrible than an army with banners 40 no
'''''' ~ Mr.. Nc Dufe's Letter, Feb, 1874.
The above graphic paragraph is the caption OF one oil
series Of eloquent articles IN the Richmond Enquirer
on the history of the establishment of the U. ). Bank
md the first Formation hereupon OF the Federal and
Republican part es in the Union Brief as the extract
is it is pregnant with meaning.
The question OF United States Bank Is not dead
nor sleeping. However much our opponents may seek
10 withdraw an this question from the people,
no man can doubt that the establishment OF such an m
sttuton, with enlarged capital and increased pow
ers aud fortified and strengthened against future con-
tests with the people, would be the first act OF wing
asceudancy Mr. CLAY has never ceased for the last
thirty wears to avow himself in favor OF such an m
stitution The papers which represent ms Opinions,
are unhesi in their advocacy OF it. The more
courageous and the more CONSCIENTIOUS OF nus iollow-
ers invite the party TO take open issue upon IT.
During the election of 1910, with Presidential can
didate whose opinions were concealed from the public
eye but whose "commlttee, when Intercepted oy Inc
people out vague intimations OF hostility to such
an institution with Vice President placed in nomna-
ton because he known to the people to be distinct
~ opposed to such measure; and with the conceal
men,s and denials of the Wing press the Wing party
succeeded in deceving the people INTO the belief that
the Bank question was in fact Withdrawn from the
Issues of the contest Yet the first act of that party,
when il had obtained ascendancy, in the National Lee
glslature was to force through Congress, at session
called for that purpose two consecutive bills for the
establishment OF National Bank, the provisions Of
which were framed under the eye Of the present Wing
Candidate, Henry Clay.
If these were the fruits Of Wing success, upon an
issue concealed from the people, can any doubt
VIA, would be the result of similar upon an
syowed and open advocacy o! this measure?
the question of The cons'itn,ionali,y os Bank has
been decd-d upon by the people. Since the first re-
luc,sn hesiatng gwen 10 the passage Of the orr
g,nal charter by WasbInat1n, after he had directed a
veto message To be drawn up against it, though subse-
ouenlly overruled in his determination by the force OF
an apparent necessity OF government this has
had arrayed against II the formidable opposition of the
Democratic party. The plea of expedency, uttered
amid the destruction and ruin which ensued from the
war of the revolution, oil that overcame the con-
sttu,ional scrupes in the way of the first charter Of
Runk The same plea alone, amid the prosraton OF
business interests that followed the last procured
its recharer The Federal Courts avoided the distinct
question Of the consttulonay OF the Incorporation by
referring Congress the decision of the question of ex
pediency But the Democratic party has uniformly ar
rayed itself against both the expedency and the con-
sttutonality Of Bank.
Mr. Claw himself before lie sought the aid Of
ln,udnous construction of the Constitution, to ele
yate himself to power, was opposed to U b Bank,
mplored Congress leave the nation al the mercy
a CORPORATION,
bhoders pliaged by i,s lns,rumenta'ity have since
reaLzed) and derided the idea OF us constitution
ally Mr. Clays conversion from this Democratic be-
lief was according to HE after declarations the fruit OF
conviction of the necessity or expedency Of such an
institution
But does any man believe in the pretence OF tex
oediency?" Has not The whole community become
convipced that the business Of the people needs no
supervsion from regulator OF this character! Has
moi The conviction of the unconsii,uiionaity oil such an
institution longer supported by the pretence OF ex-
ped,ency grown stronger and spread wider;
What then, is this corporation, which Mr.. Clay s
aaberept, would force upon tie people, bat political
engine, II ~ no longer desired by the business in
,erests among The people, 10 regulate the currency or
10 give stability to the State interpretations The laws
of trade have supplied 10 currency lis only regulator
and time has shown that this huge power was Itself the
secret source of instability 10 all within It's. reach
II no longer claimed by statesmen to be necessary
20 the due exercise ohe other acknowledged functions
of the General Government. lis dangerous machinery
may be dispensed WITH and The purposes OF Govern
men and the promotion of the general welfare, BE- bet
ter subserved by other, and simple, and constitutions
means :,
It's as political engine hat is desired by the poll
ticiaos after it had ceased TO he required by the PEG
pie 1t s an for the aggregation oil dangerou;
in the hands Of the Government at the expense
of the peope and of the States and to b. used Tor the
peroetua alton OF the other measures of Federalism II
ia power TO bolster up the distribution and other e
dera schemes already deVeloped and the assumption
scheme which is to follow.
If this Bank issue dangerous, It IS now ah
niielv more So Ii so, because can never be
otherwise than political machine, political machine
IN the hands of Henry Clay Albany .7aas-