Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-10-05
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COMM NICATIONs.
For tk Enquirer.
THE ISLANDER DlSPRQVED:
Or;Ee il-"Fair Proposition nailed 10 the Ccnatc1.
No. VII.
OTHER ATTEMPTS TO PASS A BANK
RITl


tor Nh, charter of a National Bank. II was re-
fe,red 10 The Committee OF Ways and Means
who reported, through their Chairman, Mr.; EPpks,
Of Virginia, onthc 10Th January, lnat me pow
RIO create corporations within The territorial IL
mils OF, The States. without the consent oi Inc
States. is neither one oi the powcf> delegated py
the Constitution oi the United States, nor esseh-
lially necessary Tor carrying into effect any uclc,
gated power" The question was recoinmi'lea
Ic. the same Committee on the lth oi rebruaili
ana on motion OF Mr. CMMoUH, il was resolved
tina, The Committee of WAYS and Means be 10
s,ructed to inquire into the cxpctlency OF es.ai-
fishing . National Bank 10 b. iocatca an TIC DiS-
init Of Columbia" This was agreed 10 without
opposition: and, a. Mr.. Calhoun stated, The CD
,cction 10 the Bank urged BY the petition was rs
uncons,i.utionalitv, This may BE- taken as an eVi-
Jencc that The House considered the chaf'er OF
such an institution a rielct!cn OF the lonsii'i-
ton On Feb. 10, Mr.. Taylor, rom 'nat ooi'l-
miucc, reported a plan tor Bank IN the District.
Some discussion took place on II. M. EPPts
declared that hc did not approve Of the Report IN
Committee; ant ~ huiirr oe',on tool F!ace OF
tbs bH-(Dcc. Hist p. 412-i)
On the IL April 1871 on motion Of Nj, GRrN-
ny, i, was resolved, (ayes 16, noes CD THAT
committee Be appointed to inquire into the eXpe-
diencv OF establishing q National Bank; ana ll'a'
The; have leave to repor, ~ bill or otherwise =
MIR NgwroS OF Virginia moved the indei'ni'c
posipoaemcn, oil the resolution: the vote So III
ayes Il, noes so MeSsis. CRAwfoRn OF Penn
svlvania, EprEs, C;EDDgs, Guo;soS, ilcNdERFoRp
M.co: NJ KIM. Nelson, PLEAsANTs, IRoUF,
etc vote, for pnsiponemcni; and Messrs. bREcK-
rSn,pGe. P.cseR,xG, WEBSTER and other fcde-
ralists also voted for po>tponement, doubtless on
The ground expressed BY Mr.. FISK OF New ork
:, Bank man. who opposed the bill Of MIR. lay
lor because he considered il "inexpedieht to ere
ate demand for so large an amount OF stock,
when Congress had just authorized the sale OIL
stock (national debt) 10 the amountot twenty-five
millions" or 10 use the words OF MIR. Gaston,
from "disapprobation of the Indirect introduction
OF (suppoSed) Executive Recommendations INTO
the House But, on The S,h April, oaly Mr Ga9S
thereafter. on motion OF Mr.. GRuNpY h,m@!i, the
Committee was disctaygcd from Tie fnrtaer cons'de-
ration III tie subjcct Another abortivc attempt
doc Hist p. 1907
On the 18th October. 1911. the Committee oil
WAYS and Means made Report u the House,
enclosing a plan Of National Bank. by The Sc
cretary of the Treasury. One oil its provisions
was. that i, should lend 10 the United States SO
600 O00. tits capital being $50 0a900o) II was
referred 10 Committee OF the Whole, which lc-
ported several resolutions, the eighth OF which
was ''tha i, is cxpedient 10 establish Nailoilal
Bank with branches in the several States. MI.
CLoproN oil Virginia opposed III. resolution be-
cause h. conSidercda Bank unconstitutional and
The House had so decided six years ago Mr..
EpPes OF Virginia, Chairman oil the COMMITTEE
of WAYS and Means, said his sentiments III re-
lation 10 this question were known, and were nal
rtnagcd." After some debate, tue resolution was
Il lop,ed ay.S 81 noes 81 Among tie noes, are
MesSrs BARBOUR, BuRwELl CLorroN, CRAw-
FORD Of Pennsylvania, EPPEs, GnoLsoS, HrS-
GERroRD, JACKSON Of Virginia, MAcoS, Nelson,
PLgss,Srs, MosEiEy, and Other distinguished
Republicans MeSsIs. kESr OF y. York, WEE
srEa and other Fedcrali>tS, voted i'll The a!ii:ma-
Tive. doc. Hist, p. 1861 Mr.. FISK OF New
York reported bill from the Committee oi WAYS
and Means on November 1th lSll In the dls-
,assion oil this bin in Committee oil the Whole
no opponent of tic Haak tea!. plit. Mr. il.wHIN.
Of Kentucky said at is pie,ty well understood
that the Government had exhausted 10 tit last cen:
The ability of the nation to obtain loans under the
existing state al thiGgs." The HARrFoRD Cox
veSrloN was to meet on the 18th December and
HIr lSGERsotI., aluding 10 this !act, said: The
nation Is AGoNlZED WITH THE PANGs oF p:s$oLr-
TInN." Under Suct circumstances was the bill
reported BIZ the Committee. When before the
House. IN amendment, that the Bank should be
bouni 10 lend the United States S:ioGOl,G00, was
carried bva vote of St 10 lS--Mcssrs. BARBOUR,
CLosroN, Eppgs, Macon, Nelson, RoA%E, etc.
voting against it, aud the lcadiu. |cderalistS VOL
iry Tor H. Tn the motion of Mr.. Castor, 10 re-
ducc the capital from 500 00, 600 10 30 000o0
jiic vote stood 81 fer, 50 agciaS' il, On Mr.
i.ownlc>'s motion TO Substitute S3o.ooa, 00a. the
vote stood, for it IS, dga3iN it u. In this iora,
the bin Was rejected by vote OF i0l 10 10
doc. Hist. p. 53l) Mcs>is BAyLY, BvgwEil.,
CiorroN, EPfEs, GEpDEs GuoLsoN, Hr%GER-
foRp, MAcoH, MckiM, Nelson. RoASr Pleas
axis. MosELsy, and Other leading Republicans,
voted in the negative The leading Fcderalis.S
.tni Convention IL
i'll The negative; Is they wished. with their tica-
sonable designs, TO deprive the Government, oil the
advantages. which. Is We know from their previ-
ous constant support Of Bank, they thought 1t
would derive from such an Institution. When
Ne remember the circumstances under which this
bill was rejected, il j, indeed NOS, gratifying re-
lniniscencc, that he Republican patty, and par
,icularlv the REPunricANs Of VIRGINIA, Stood, for
the mos; part finn To the principles of % and 80.
On December 22i, 1911, Mr. klNa, from
Committee appointed To consider a petition for
The charter OF Bank of The United States, re-
ported 10 the Senate bill ior that purpose, al
most identical with that rejected by the House.
On the OH il was passed by vote of IL to IA,
and sent 10 the House doc Hist p, 5l9)-
There in Committee OF the Whole, on the 2hi OF
December Mr. CLoproH of Va, opposed II on
constitutional grounds. His motion To strike out
The first section o: the bin was los; by vote of
stoned much further discussion with tc@2ri 10 -
details, but the constitutional question WAS no,
again raised and the vote stood on the iaa pas-
age Of the bill with the am ndnenis, II tof il,
80 ardias, it, The Speaker, Mr.. CusvEs ot South
Carolina, yoei in the negative lhus producing
lie. and the bill was rcEci,d doc. Hist. =. o3s,
SLY Among the NAYS were many OF the lead
in. Republicans and also McssrS. PIcNERING,
WEBSTER, and other Fcderalists. Mr.. CALnoJN
also voted in the ncgot,re. On the 81 January,
1915 the House resolved To- reconsider the bill Is
4 vote OF l07 10 81, and recommted il 10 Sc
!.ct conntee by vote OF =, 10 II. The pro
posed capital was reduced from fifty millions 10
thirty, and the bin passed on The 1ih OF Janu-
airy bv vote of 40 to37. doc list. ?. 57l.S0.)
Among the naps were Messrs. BuRwEtI, CLor-
TON. EPpEs, GoURDN, JOHNSON of Va, JOHNSON
ot Kentucky, Macon, Nelson, RoASE, etc.
BRncxExErDGE, Fisk Of Vermont DAVIS OF Mass.
krSr of \. Y, PICKERING, WEBSTER, and The
Federalis;s generally, voting FoR il. II was sent
10 the Senate, which disagreed 10 some OF the
amendments OF The House. and sent it back. The
ilonsc insisted on some OF The amendments, and
Jrlurncd The bin 10 The Senate which rccedcd
from il, disagreement with the House. and pass
ed the bin. doc Hist. p 5S0-9S) This bill
Mr.. MADISON VETOED ON the 30th January, 1915
because he dlsapprovedo OF some OF lis provisions
doc. Hist. p 5n)
The h;ll was returned 10 the Senate, and, on
February ii on the question shall the bill pass?
The vote s,ood:
lE,s-Brown, Dagsett Dana, Fromentia.
German Giles, God>hoioush, Gorc. Horsev,
Hunter, King, Lambert, Mason, Tan, Thomi-
:oI-l5.
Nars-AnderSon, Barbour, LIB, Barry, Chase,
tonii,, Gaiilard. Kerr. lacock, Morrow, Roberts,
Robinson. Smith, Talbot. TAYLOR Turner, Var
npm Nri'S and w h-rpD--iD
A two-hiids were requisite 10 pass the bin, ii
was rerltcd. doc Hist = 596)
In his connection We have TO cxpo-c ono Of
The sro,sesl attempts 1t deception which The Fair
Proposition" contains. Ii calls attention, in sta
rirg capitals 10 the fact, that GILES and Mason Of
Va. voted here in the affirmative, and boldly de
daces Tia, the severe schooling which the country
experienced during this War, SATISFIED Mr.. Giles
lhai Bank was a necessary and proper means for