Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-10-03

On the 4h December 1909, Mr.. Nicholson OF
New York mot Nicholas Of Virginia, as mis-
stated in the Journal moved That provision be
made for general national establishment OF
Banks throughout the United States, and that The
profits arising from the same, together with such
SURPRISES OF revenue as may accrue, be appro-
priaed for The general welfare, in the construc-
lion of public roads and canals, and The establish
mrnt of Summaries for education throughout The
JTni,si States" Read and ordered 10 iic on Tie
table! doc Hist, p. 1907
On 39th January 1910, the memorial OF The
stockholders, praying re-chailer, was referred
10 q committee.
On 9Th February 1910 Mr.. Nicholson's reso-
luton was considered Mr.. Sawyer called for 4
division of The resolution 10 the word United
States inclusive. Thus the naked question OF
/" National Banks" was presented. MIR. Koss
moved that this first member OF The resolution be
referee, 10 Committee OF the Whole House
I,.ierm;ucd ~ lac NEGATIVE. Mr. Sawyer moved
Ihcn that j, be referred TO Select COMMITTEE
DE, ratned ~ The NEGATIVE. doc. Hist, page
l2l)
ON February 10Th, 1910, Mr.. Montgomery,
from the Committee appointed ON the 29h Janl-
ary. made a report in favor ot fs-ctdri.fiRS The
Bank. On the 23l motion of Mr.. Love, that
il is cypcdient 10 enquire into the expectancy oil
establishing National Bank" was referred 10 the
Committee of the Whole, 10 whom Mr. Mont
gomery's report was committed. On III Match,
The Committee of the Whole, which seems TO
have taken no action on the subject, was DIS
,iarsed from the consideration Of Mr.. Loves It.
solution; and Con Mr. LIS own ,notion) ii was re-
terred To a Select Committee, with Mr.. Love as
Chairman. On March 18th on motion ot Mr.
TAYLOR the Committee ot the W hole was dtS-
ciarpsd from the consideration OF Mr.. Mongom-
erv's report; and il was referred 10 Select Com
mittee with Mr.. Taylor as Chairman. On ~
April Mr. Lore made report, in which II IS
slated, that they 1.-THE Committee have had the
subject rof the establishment Of National Bank
under considerations; and III ercrg rter Mty hare
6een able 10 take Of Il, perceive great dNchhteS 10
occur" and report bill, which they state was
not entirely approved OF by majo'dy OF them
This bill provitles for the establishment OF Bank
at WASHINGTON, with branches in such STATES as
NAV ere their aSSni, through their Legislatures,
hy Lr II makes the Secretary CT The Treasury
..c oGcio a Director, and authorizes the President
10 appoint a number OF Directors OF Tie
Bank at Washington, (thc stockholders elecling
The remainder) The State, III which branch
should be located, should also appoint part OF
the Directors; The Secretary OF the Treasury also
:, part, and The stockholders the remainder, in
such branch The Bank was not 10 he allowed
Ia contract debts ''by bond bill Rotc, or otfcr c0n
tract," beyond Sl5,003000 Qhe amount OF the
capiial which was 10 be furnished 10y the United
States. the single States and individnals;) nor 10
conlrac, debts to the United States over Thirty
MILLIONS Of dollars nor 10 4 single Stale over
fricc the amour, OF capital subscribed IN such
State: and in case of excess the Directors were
IL I've liable in their private capacity for H. The
President of The United States was 10 appoint
superintendent Of the Bank ind lis branches. =
doc Hist pages l22 1872
This waS Tins n scheme, Government
Bank ri he District If CIamJia, with STATE
Banks for branchcS-a thing essentially different
from National Bank, in The ordinary sense q!
tle term.
On the 7th of April, Mr. Taylor, from his
Committee, reported bill to rc-caaitcr the Bank
OF 1871, for twenty years.
On 18th April, the Committee of the W hole
reported progress ON the consideration oil Mr..
Taylors bill, and were fcfnScd leave 10 sill again.
On 20h and2lSt, the Inns, took up the bill
Mr. Love moved 10 amend it, by inserting pro-
vision continuing the Bank for two years, for the
purpose of winding up its concerns. Mr. Love
had reported bill To charter new Bank, 10 con-
tnuc I'LL 1910. This, then was virtual admission
that he did not expect bill 10 establish Bank
10 pasS-and he was anxious, merely 10 give The
old Baul, time TO wind up This the House re-
fused, hy vote of 13 10 81. The hill, however
was amended, on motion OF Mr.. Taylar, al the
~, H. table. Nlr Itoup moved Ia >irke ctll inc
first proviso in the first section-negaii"ed by
vote OF - 10 35. Mr. Taylor moved 10 extend
The term 10 - years--and debate arising thereon,
The House adjourned. On tic 33ld April, The
House postponed the consideration o! the bill TIL
the next dav-but no fUrtter proceedings trcre had
vpon tte 6N-(Doc Hit. p. l32-l36)
ON January ll,h, 1911, Mr.. Burwcll, of Viz
sinia from the Select Committee, appointed on
the 18th ult reported bill 10 rc-chauer The Bank
- u.h t.ll =
one that if the Bank fail to furnish any loan, or
loans. 10 he required BY the United States in the
manner herein before enacted hcir cOrpara'l0n
siaR b. FORTHWITH ntSsorvGn."- Doc Hist p.
l311 The object, then, OF the creation OF this
Bank. was 10 obtain loans for the United states.
Mr.. BrRwELI. moved. in Committee OF The
Whole 10 strike oul the first section OF Tie bill
i. T., 10 refuse IN pass it, and supported his mo
ton i'll Il speech of great length. IN which nc M
MED the coNSrITrTIoNALrTY AMI ENPEDlENci oil
The bill'-(Doc. Hist. =. 3s.)-Mr. FISK, oiCon-
necticul, alone supported the bill Mr.. SErBEEr
and r. B. Porter, opposed The bill, ON the ground,
that il was unconstitutional and iaeypedien!.-
doc Hist, p l:;3-lS0. )--Tl,ese were Tie only
gentlemen who mingled in the debate. The Com
lnittee Of the Whole adopted Mr. BurwelI> re-
solution, by a vote Of 50 10 i6 The Committee
accordingly reported Mr.. Burwell resolution, and
MIR Fisk moved that the report he laid on the
table negaived by vote of 81 10 III. doc
Hist, p. 1907 The House then proceeded TO
consider The report o! the Committee OF The
Whole (Doc. Hist, p lSl-21l) Mr.. DEsnA
opposed the Bank on constitutional grounds
MIR. PlcxMsS advocated it, MIR. ALsToS though
the Bank constitutional bat conferred his protest
against the banking system altogether but as
We have it, advocated Bank Of the United
States TO control the State banks. Mr.. kEI sup
ported the Bank as cSpcdeni and constitutional
Mr. Newton moved 10 postpone The consideration
of the subject indcdaitcir Mr.. GARLAND moved
a pustponcmcnt To Isl of February, because, I'll 4
suitable substitute could he offered for the pur-
poses Of collecting and transferring revenue, II
would I've The means of rcconciling manp gentle
men 10 vote AGAINST The Bank Mr. Love
thought the motion of Mr.. Newton should he put
and The question decided AT once. Mr. TRorr
MIR WRI6rr of Maryland, Mr.. BoYD, Mr. BAR
ny. spoke in favor of indefinite posiponcmcn; Mr..
Mckee and Mr.. FISrEy against il. Mr.. " RIGHT
opposed the Bank as FEDERAL!sT measure ana
said EVERY FEDERALisr ~ TiIls ilorSe 10 Now
IRIS ADVOCATE Mr.. BOYD thought Bank ~
CONSTITUTIONAL MIR. BARRY thought 50 also,
and considered il "a PARTY QUESTION, Is lar ls Tue
PRINCIPLES which separate and distinguish Inc
Two great political parties in The Y. ). shall be
made lobear upon it-notthatt the dcciaraion Of amg
man c0n make IL 50. II is MEASURES, NOT MEN,
that should govern" Mr.. MckIM and Mr.
JOHNSON opposed the Bank ON constitutional
grounds Mr. JOHNSON said the charter oi the
Bank of 1871 "was granted by those principally
who assumed the name OF FEpERsrlsTs, and
who advocated the incorporation OF the Bank
as constitutional upon the oDIous DOCTRINE OF
IMPLIED POWERS, and which was OPPOSED by
those who have since supported the character OF
REPUBLICANS; THIS VERY MEASURE was Inc iirsl
,ha, lnD Trg FOUNDATION for the TwodREAT Po-
IiricaI PARTIES WHO HAVE, SINCE THAT PERIOD
AGiTarED AND DIVIDED THE COUNTRY Mt
Com and Mr. SnrrrgY advocated the Bank
Mr.. Sheffey said: THAT Congress have the right
nr.nte carnnraiinnS ~ Instrumental 10 effect