H. OF R.] Bank of the United States. [JAN. 9, 1832. Will consider all the details necessary to effect that object, and of the shares in the bank owned by the United States, and report a bill, with such conditions, limitations, and restric-now yielding an interest of seven per cent., is recommendtions, as they may deem expedient. And will this House ed, to enable the Government to pay, among other debts, have more confidence in any select committee which can one bearing an interest of three per cent. only, and thus be appointed, than they have in the Committee of Ways to present the great "moral spectacle" of the reimburseand Means? We have not heard from its chairman that ment of the public debt before the 4th of March, 1833! they are so burdened with business that the time necessary If such a recommendation was to receive the action of the to a careful examination of this important subject cannot House, it was certainly proper that it should be well conbe devoted to it; nor that they are unwilling to discharge sidered, with reference to all its important bearings on the the trust, if committed to them, with promptness and interests of the country; and as the Committee of Ways fidelity. If, then, this committee are competent to per- and Means had been charged with the duty of examining form the duty proposed to be imposed on them, and can into the propriety of this suggestion of the Secretary, it was and will discharge it, what reason can be urged why it obviously proper that to them should be confided the duty should not be confided to them? of examining into the merits of the memorial to renew The gentleman from Maryland [Mr. HOWARD] had sug-the charter of the bank, with which such recommendation gested another reason why this subject should be referred from the treasury was most intimately connected. to a select committee. It was, that they might take into the House refer to one committee every matter connected consideration a proposition, which had heretofore received with the renewal of the charter of the bank, proceeding some countenance, for the issue of treasury drafts or from the Executive and the head of a department, and notes at the seat of Government, predicated on the funds to another committee the application for its renewal? In in the treasury, and which would be a substitute for the what situation will such a course of proceeding place us? bank as at present organized. Mr. H. said he believed Mr. H. said he need not enlarge on this point; nor would the present generation would be in their graves long be- he go into the merits of this application. This is not the fore any committee of this House would recommend such time for such a discussion, nor would it be in order. Mr. a project as this to its favorable consideration, or enter H., in conclusion, said that he hoped that, inasmuch as the into any details connected with it. It had never been re- general subject of the Bank of the United States had ceived, so far as he [Mr. H.] knew, with favor from any already been referred to the Committee of Ways and quarter, and had ceased to be remembered, except as a Means-as that committee were fully competent to ex subject once recommended to notice, and instantly pro-amine it, and would do so, if required by the House--as nounced by all impracticable and inexpedient. A Go-it was the most appropriate committee to make such exvernment bank, to discount notes or drafts, or create amination--and as there appeared to him to be no suffi. a circulating medium with the funds of the Treasury De-cient reason why it should go to a select committee, he partment, would, he trusted, never be countenanced, in hoped the motion to refer it to the Committee of Ways any shape, or at any time, by this House; and, even were and Means would prevail. such a subject proper for consideration, it could receive it as well from the Committee of Ways and Means, as from a select committee. Mr. WAYNE said he was answerable for this debate, and the character which had been given to it, and that he was ready to take its consequences, whatever they might [Mr. HOWARD explained. His remark was, that one be, in or out of the House. But, sir, said Mr. W., as my object of a national bank was to preserve the public position has been assailed by some friends, as well as by wealth, and another the transfer of its funds; and he had enemies, or, I ought more properly to have said by poli only observed, in regard to the latter object, that he was tical opponents, I shall be discreet in making any motion, desirous some friend of the mode which had been sug- and will abstain from using any expression, which has not gested, to separate the public funds from those belonging been duly considered. Discretion, however, and direct to individuals, in the form to which he had alluded, should action with plain speaking, are not inconsistent; and I will be placed on the committee, to present a plan connected venture to rely so much upon my own sense of propriety with it and its details; but he had not said he was of opinion as to use them together upon this occasion, without any that such plan was either proper or practicable.] apprehension that I shall make a trespass upon what is Mr. HUNTINGTON resumed. He said he believed right in itself, or upon the feelings of any gentleman. I he had not misunderstood the member from Maryland. His have no idea, however, that there is impropriety, or that remarks were based on what he [Mr. H.] understood the it will be so considered by the world, in my having dis honorable member to have stated as the object he had in closed to the House the political attitude which any indiview, and what he now repeats to be his object, which is vidual or party had assumed to effect party objects, and to have this petition referred to a select committee, that by my attempt to array against it party feelings-when it some friend of a proposition once, and but once, recom- is intended by a minority to urge a particular measure, mended to create a species of national bank at Washing-with the view of making itself stronger by the accession ton, might have a place on that committee, and thus be which it hopes to receive from the discontent which may be enabled to furnish the House with the details of a plan to given abroad by the course which the minority anticipate promote such an object. Mr. H. said he would only add, the administration will pursue upon the subject proposed to what he had already said on this point, that he believed for the action of Congress-when the design of that mithe Speaker would be obliged to go out of the House to nority is to put in opposition to the administration a giganselect a friend to such a proposition. He did not think tie pecuniary interest, represented in every part of the there was a member on the floor who would avow himself country, and advocated by the hundreds who live upon to be its friend. Mr. H. said he would not repeat what its means, and profit by its discounts. The charge is, that had been said in favor of referring this memorial to the I have awakened and sharpened the spirit of party by call Committee of Ways and Means. He would suggest, as an ing upon party to put down such a scheme; and some genadditional reason for such a reference, that this subject tlemen with whom I am accustomed to act, so much mishad already been referred to that committee. That part take what should be our position upon this occasion, as to of the message of the President, transmitted at the open-disclaim all intention to aid my efforts, and think I will ing of the session, which relates to the Bank of the not avow such intentions. Indeed, one gentleman from United States, after debate, and on much deliberation, had Pennsylvania, [Mr. COULTER,] who I am not at all sur been referred to that committee. So also had the report prised should be the supporter of the bank, though we of the Secretary of the Treasury, embracing the same ordinarily act together, has not only deprecated the re subject, In that report, a proposition to authorize a sale sults which may follow the attempt, should it be success JAN. 9, 1832.] Bank of the United States. [H. OF R. ful, upon our representative form of Government, but he charter as a party question, and that their conduct has wishes to shield me from what he imagines will be an im- provoked the spirit with which I would meet the memoputation, by expressing his belief that I had not been ac- rial presented to-day. Are not the people in that address tuated by such feelings, though my remarks had that asked if they are ready to destroy one of their most useful tendency. Sir, my remarks and their tendency are one establishments to gratify the caprice of a Chief Magistrate? and the same; and to whatever conclusion the former may Why are the enterprising and high-minded merchants of lead, though it shall, in the apprehension of some, involve the Union addressed as a body to discountenance the reme in an attitude of doubtful propriety, I will not shrink jection of the bank charter? And why that dulcet and disfrom the conclusion,but will place between myself and those interested solicitude for the cultivators of the West, who who misconceive me, the judgment of others who hear are told that their interests are so essentially connected and shall read the report of this debate. My appeal is with the capital of the bank that they will surely never now to the public. That and other gentlemen have, in- lend their aid to dry up the fountain of their prosperity? deed, mistaken my design; and now that they can do so We are told that the President is three times pledged to no longer, I call upon such of them as act with me in a put his veto upon a renewal of the charter, and that such common cause, to review, to throw aside their apprehen- and other disastrous consequences will be produced if he sions of my purpose, and to give it their aid. It is my should be re-elected. And yet, that which I am disposed wish to bring party feeling into action, to put down what to meet in the spirit in which it has been presented to us, has been introduced here at an improper time, to effect is not a party movement. The stockholders of the bank, party purposes; and I wish my power to effect it was or their representatives, to solicit a renewal of the charequal to my inclination. Such were my motives when I ter, and the convention, have no correspondent feelings; first addressed the House; such is still my intention, be- and the former are altogether ignorant of the pledge given cause no other course can be taken which will so effectu- to them by those who desire power, in the anticipation ally counteract the designs of party. If parties exist, may that the pledge will be paid for by their co-operation. not the common principles which have brought men into Nay, more, sir; such is the bitterness of party in that adclasses be invoked, at times, to arouse those who think dress, that the Secretary of the Treasury, notwithstanding alike to act together against a movement which is intended the avowal of his sentiments in favor of a bank, is ungrato weaken that common cause? Gentlemen are in error, ciously taunted with what the address terms an intimation because they confound party with faction; and it is the of his readiness to modify his sounder notions to those great difference between them which makes mine, upon of the President, and that he was prepared to sacrifice the this occasion, the meritorious stand. Some may think to independence of the department over which he presided, gain credit by those amiable generalities in which parti- and for which he is responsible, by doing what no cabinet culars are so often disguised, that no one can tell where minister in the corrupt and servile courts of Europe would those are to be found who use them. But a high price is concede to any Executive. Sir, do I not now stand vinpaid for the reputation of being amiable, by making one- dicated for what I have urged to-day? Is not this memoself equivocal; and it is a weakness not to use a principle rial a party movement, though it has been presented to the which may be correctly used, and with honor, because House by one unconnected with those with whom the mean and vitious men may attempt to make it a common movement had its origin? I do not make it a ground of principle of action. Demerit is connected with the abuse moral reproach against them, for it is within the allowable of party; but some of the happiest and most glorious re-limits of party warfare; but when the stratagem is known, sults in the history of free nations, and in our own, have and the enemy is on his march, he may be met and subbeen produced by the combined action of a number, un-dued in the spirit of retaliation. I do say, and speak it der some denomination, in opposition to others differently confidently, that the bank has been induced to present its distinguished. I will not bring party spirit to bear upon memorial at this time, in the expectation that public opithe bank question, when it shall be before us upon its nign may be directed by it to operate upon the next elecmerits; but it is proper to urge party action, to counter-tion of the President, if any thing shall occur at this session vail the design to introduce it here at this time-when the unfavorable to a renewal of the charter. Gentleman may time has been chosen as most favorable either to coerce discountenance the application now as inexpedient, without legislation to a renewal of the charter, or to use which being supposed to have in any way indicated what will be may be done unfavorable to it, to bear upon the Presi- their position when the question shall be before us upon dential election. Nay, sir, I will go further, and say, if its merits. Those of us who are opposed to the bank are, those representing the bank have now come here in good however, prepared to meet the question, if the House faith, but with an entire disregard of the fact that there shall determine that the memorial shall be referred to the is a party in the nation which has already used this ques- Committee of Ways and Means. And I am sorry to have tion to influence public opinion in their favor, and who been misunderstood by the gentleman from North Caroliintend to use it further, it will be right to make the post-na, [Mr. CARSON,] by his supposition of our unwillingness ponement of its consideration a party vote. Will any one to do so, from our fear of consequences to the cause, or say that efforts have not been recently made to make the to the administration. renewal of the bank charter one of the questions by which [Here Mr. CARSON explained.] the administration of the Government may be put into other Mr. W. resumed. I thank the gentleman, for I suphands? Is there any one of the opposition in this House posed I had guarded myself against any such misconstrucwho will deny the fact? Will not the gentlemen from tion. Sir, I have but a word more to say, and it is that Massachusetts and Maryland [Mr. DEARBORN and Mr. the public, who are attentive to our proceedings, will not JENIFER] admit that what has occurred within the last four be satisfied if this memorial shall not be referred to a weeks at Baltimore may have brought the bank memorial select committee, as it always has been in our legislation, into this House sooner than it would have been? and is not from the first application for the establishment of a bank, one of the principal objects in the address of the conven- and in every other for the renewal of a bank charter, and tion an argument to persuade the stockholders in the bank not to a committee which had prejudged the question. to make a common cause with those who term themselves Mr. SUTHERLAND said it would be expected of him, national republicans, and to embark the influence of their by some, that, coming from the State of Pennsylvania, he capital in the campaign which had been begun against the should say a word or two on this subject. He was sure President? I call, sir, the attention of gentlemen to the his constituents would find fault with him if he should be address of that convention, to establish the fact that the altogether silent upon it; and he was quite sure the genparty in opposition have treated the renewal of the bank [tleman from Georgia [Mr. WAYNE] might very well sup VOL. VIII.-96 H. OF R.] Bank of the United States. [JAN. 9, 1832. pose he had overlooked some of the observations which had been said that this measure had arisen from circumhad fallen from him, if he omitted to ask something rela- stances which had occurred within these five weeks. Had tive to it. He came here no great friend or advocate of not all which then happened been determined on publicly the institution. He had not presented the memorial. It nine months ago? And were they, the president and dihad not been sent to him. He had no bias in its favor, but rectors of the bank, so weak, so untrustworthy, that they was prepared to go for the measure in that shape which had so long neglected to avail themselves of this, if they would best comport with and promote the interests of the had wished to do so? Besides, if we looked further, we country. He was anxious that the memorial before them might see it would have been a forlorn hope. It required should be referred to the Committee of Ways and Means. all their united power to come within shaking distance of Why not? The gentleman from New York [Mr. CAMBRE- the power Andrew Jackson holds; and, to suppose that, LENG] had said they ought to hear a report on both sides, being divided, they could stand against that power, would and therefore wished it to go to a select committee. He be a species of dotage seldom equalled in that House or did not, he wanted no divided councils. He wanted it to out of it. He would ask the gentleman, distinctly, whebe sent to them who had before investigated and discuss-ther he meant to say that the president and directors of ed this subject, and given their opinion to the House upon the bank had been influenced to come forward at this it. The gentleman from New York might then offer his time by the convention at Baltimore. amendment; and the other gentleman from Maryland Mr. WAYNE replied that the member from Pennsylsubmit his scheme. But let them not propose what would vania must establish some affinity between himself and be a hindrance to the progress of the measure altogether. such gentlemen as he had described, before he could perLet there be a bill and report on the subject. What was mit the member to put to him any questions in their beit but a petition? The report of a committee would not half. settle the question. Let the report be received. They Mr. SUTHERLAND now repeated his question. might then have sufficient opportunity to trim and lop as Mr. WAYNE said, it behooved the member from Pennthey pleased. Some who are opposed to the measure sylvania [Mr. SUTHERLAND] to think, before he put queswould have it sleep awhile; yes, they would have it sleep tions to any one, whether he might not be refused an anthe sleep of death. They wished to have a select com-swer, or get an embarrassing reply. [Here the SPEAKER mittee, that they might report against it. If they wanted a interposed; and Mr. WAYNE remonstrated against the inreport in its favor, why not send it to the Committee of terposition, saying he knew what his position was, in and Ways and Means? No, they wanted a committee to re- out of this House--who had a right to put a question to port against it. But if they did so, would it not be an insult to the Chair to ask it to appoint such a committee? Parliamentary usage required the appointment of persons favorable to a measure; and how then was it possible to get a report against it, unless there were some pretended friends of the bank who carried a double face? Why, then, should honorable gentlemen wish for a select committee, since the gentleman from Georgia avowed so plainly his political views? He might have gone a step further, and said plainly that he wanted a committee who would report against the bill. The gentleman from Virginia seems to think the President has acted improperly in giving his opinion on this subject to that House. So far, in his opinion, was the Chief Magistrate from deserving censure for this, he thought we ought to admire his manliness, in year after year urging the subject on which he holds such opinions on the attention of that House; and he thought it became that Mr. SUTHERLAND said he was satisfied. He underHouse now to meet it in a like manly way. It had been stood the gentleman to have no wish to come into collision, said this was a political question; and yet, though he came except of a political kind, with gentlemen connected with from a State, from a city, known to be attached to the the bank. But if any body had made this a political quesbank, and deeply interested in its welfare, he had not tion, it was the gentleman himself. But admitting it to been even asked, on his election there, how he should be so, could the gentleman or the House think it was the vote on this subject. None knew how he should vote up- very best mode of proceeding to meet the question there? on it. There was one point on which he felt bound to Mr. S. said he represented a State which would probably put a question to the honorable gentleman from Georgia, give Andrew Jackson its whole vote. Did the gentleman [Mr. WAYNE:] did that honorable gentleman mean to as- who avowed that he was entirely led away by political sert that the president and directors of the United States' considerations, wish it to be said to the Legislature of PennBank, residing in Philadelphia, men of as lofty character, sylvania, that they had made this a question of politics of as strict honor and respectability, as any set of men in merely, when they passed a resolution in favor of recharthe country, in that House or out of it--did he mean to tering the bank? And was the gentleman willing to stand say that these men were influenced to bring this measure or fall accordingly? If the gentleman wished to support forward by the movements of a political party which as- the present administration, he must be strong--a Sampsembled at Baltimore? Before that gentleman answered, son, with his curls upon his head, before he could change he would tell him that there were persons as zealous for the views of Pennsylvania on that question. He said it Andrew Jackson there, as the gentleman from Georgia was a dreadful, a horrid, a suicidal policy, to attempt to himself. They had presented a memorial at this time, draw such a line in that House. What would be said in because they perceived that the department had reported Pennsylvania, should the gentleman succeed in getting in favor of the institution; and even the President had low- this memorial laid upon the table, or strangled in a comered histone on the subject. It was no political movement mittee? Was that the way the gentleman wished to back which now brought this measure forward. Their only his friends? He could tell the gentleman that he must motive had been, that this was the accepted time, when find out some better mode, or they would stand in great the Department of the Treasury had come out in their fa-need, even in that State. him, and what answers to make to those who had not.] But he would answer the member from Pennsylvania by saying he would not to an inconsiderate question, or to one ingeniously contrived to involve him in personal illwill with gentlemen whom he respected, though differing with some of them whom he knew in politics, make an answer; and this was all the member was entitled to, as Mr. W. had said nothing of the member's constituents, which would justify the effort he had made to be the champion of a part of them. If, however, the member desired to learn if he [Mr. W.] had said this memorial had been presented to the House to further the views of the Baltimore convention in a certain event, he admitted that he had; and that, notwithstanding the member's professions to the contrary, he was playing a part very well calculated to aid the design. vor. It would have been weakness in them to have asso- Mr. S. said he knew how Pennsylvania stood. He ciated themselves with the political party alluded to. It knew how strongly she was attached to that institution, JAN. 9, 1832.] Bank of the United States. [H. OF R. and he felt very sure that the ardent friends of the admi- since, by construction, the constitution has been refined Bistration would do nothing to bring it, or rather to bring away, and, in fact, solemnly taken leave of by Nathaniel the United States, into hostile collision with the State of Macon, as an old friend whom he had long cherished, and Pennsylvania. That State was steady, persevering, not hoped to have stood by while he lived, but which he had given to change, and most hearty in her approbation of seen deliberately murdered before his eyes-I say, sir, if the bank. And he warned the gentleman, as a zealous this should be ridiculous, may I not ask the gentlemen friend of the administration, not to throw lets and hin- whether they will not look into the operations of the indrances in the way of this memorial. Let them meet the stitution, investigate the management by its officers, &c.; prayer of the memorialists in an open, manly manner. and, if upon such investigation it is found to have been Let them not kill it with kindness. If the gentleman per- improperly managed, corruptly managed, and flagrant sisted in his motion, to use the language of the gentleman malpractices discovered and clearly proved, would they from Virginia, [Mr. ARCHER,] “he, even he, should vote then, with the full knowledge of its onerous operations on against it." He called upon gentleman to come up--to the people of the nation, (a part of whom they represent,) come up to the line. Let Andrew Jackson, the great would they, under all these circumstances, vote for the champion of independence, have the honor of putting his bank and a renewal of its charter, simply because they had veto upon the bill, or else of giving it his approbation. Gen- previously determined to do so, "right or wrong." Upon tlemen would wrong both the administration and the bank, a memorable occasion, sir, Commodore Stephen Decatur if, after three years asking for it, they refused the Presi- committed himself, "right or wrong," and that was for his dent such an opportunity. There was no certainty that country--thus far will I go, and no further. Were I calleither the gentleman or himself would occupy seats on ed on now to vote upon this question, as at present advised, that floor hereafter. With himself, in case of a certain I should vote against it; but this is not the time to make up event, it was very uncertain. He wished to embrace the a decided opinion: let us hear the discussions, and for one, chance now; and as to the President, if he was denied the should I be convinced, first, of its constitutionality, next, opportunity he had so long sought, he might soon be ga of its expediency and necessity, I will vote for it. But, thered to his fathers, and lose it forever. They were all above all, let us not permit our predilections for men, or passing, by a rapid course, to another country; and if ac- our party feelings, to exercise any influence over as upon tion on the bank charter was, with the Chief Magistrate, this absorbing and important question; and, in voting this so darling an object, let him enjoy the opportunity of memorial to a select committee, I shall be wholly governacting upon it. Then, if any gentleman wished to write ed by the course which was given to this subject in its the President's history, what would shine more brightly in incipiency. In looking into the old journals, it will be its pages, than that, after having been anxious for three seen, sir, that so much of the Executive message as relatyears to have this great constitutional question settled, he ed to the "national currency, was referred to a select had at last had the honor of vetoing, or of setting his hand committee," at the head of which was Mr. Calhoun, who, to, (as the case might be,) so important a bill? Above all, from that committee, reported the bill to charter a United he wished the country relieved from its suspense. It had States' Bank; and to follow up what I think the proper orbeen truly said that the rise or fall of stocks depended der of the business, I shall vote for its reference to a select every year on the President's message. Something should committee. be done on the subject--it was the wish of the President, the wish of the bank, and it was the wish of the country. In justice to one and all of them, they could not refuse to act, to act now, and to act definitively, on this matter. Mr. ELLSWORTH, of Connecticut, said he did not rise to enter into a discussion of the subject; it was exhausted, and more than exhausted; he rose to put to the gentleman [Mr. WAYNE] who had taken the lead in opMr. CARSON said the course the discussion had taken position to the petition, a question. The gentleman restinduced him to make a few remarks more upon the sub-ed his objections on two grounds that the petition was ject. He regretted to see a disposition on the part of gen-political in its bearings, and therefore ought not now to tlemen to connect this important subject with party poli- be considered; and that the consideration of rechartering tics; and also regretted the decided stand some gentlemen the bank is premature. As to the first objection, Mr. E. had taken, and the determination expressed by some to would ask, if the petition has merits, will the House revote for the rechartering of the bank," right or wrong." fuse their consideration, because it may bear upon any This is one of those classes of subjects which demands, by possible political event? Is this a correct and honorable its great and general importance, the serious, uncommit- ground? Will this Congress declare to the world such a ted, and dispassionate deliberations of the National Legis- reason for omitting its duty? As to the second objection, lature, and should not be permitted to resolve itself into a Mr. E. said, gentlemen who had spoken had proved the party question. I heard, with deep regret, sir, the gen-importance of an early consideration of the subject; it tleman from Maryland [Mr. JENIFER] express a deter- was a great and national question; there was no time to mination to vote for the bank, "benefit whom it might, spare: the stockholders and the country had too deep an or injure whom it might;" and the gentleman from Penn- interest to think of future action. But Mr. E. said he had sylvania [Mr. SUTHERLAND] had expressed a similar deter risen chiefly to ask a question of the gentleman from mination, yet told us, at the same time, that heretofore he Georgia; and that question is, if the Chief Magistrate of was uncommitted, for that, during his whole electioneering the nation had not, in every message sent to Congress, canvass, he had not breathed to any person his views upon urged the very course now taken by the petitioners. Has this subject. Now, sir, I can very easily account for this, not the urgency of this consideration commanded a confor it is not unfrequent that candidates conceal their opi- spicuous place in every message of the President? Shall nions upon important subjects pending an election. We it now be said, since this admonitory voice has been heard, have had instances of it here, as you know, Mr. Speaker. and the stockholders of the bank have come forward to But, sir, permit me to ask those gentlemen who are give us the opportunity of the very consideration urged determined to vote for this bank, right or wrong, whether, upon us from such a high source, that it is political and upon a deliberate hearing of the discussion which is likely premature, and must be put under the table? When did to grow out of this subject, they should be convinced of such new light break in upon certain gentlemen? the unconstitutionality of the measure, they will, in violation of their conscientious convictions to the contrary, vote for the measure, right or wrong. But, sir, if it should be considered idle and ridiculous to speak now of constitutional limitations upon our actions, Mr. E. said he hoped the gentleman from Georgia would answer these questions, if they were not quite irrelevant. Mr. WAYNE rose in explanation. He must have been misunderstood, for he had not used a word that went to H. or R.] Bank of the United States. [JAN. 9, 1832. argue that the memorial was premature. He had said consistently with the great duties they owe to the revenue that the reason assigned in the memorial for its presenta- and subjects of finance, send for the books, papers, and tion was not exactly the fact. They intended to avail servants of the bank, and examine upon oath all who themselves of a particular state of public affairs, to coerce have been entrusted with its concerns? Are they ready the House into granting them the charter. He had not, and willing not only to send for these books, papers, and he repeated, said that it was premature; on the contrary, witnesses, but will they, like the committee of this House, he thought it was not so, and was prepared to meet the of whom a citizen (Mr. John C. Spencer) of the State question. from which I come was chairman, travel over the country, and resort to the various branches of this prolific institution, to search out and expose its abuses, extortions, and corruptions? If they will make these examinations, we may send the subject to that committee; but if either they will or can not, then to refer the subject to them, is only to conceal, hide, and cover all the abuses, extortions, and corruptions of which the bank may have been guilty. Mr. DAVIS, of South Carolina, said that, having failed to accomplish his object, which was to arrest debate on a question of reference, he should withdraw his proposition to commit the memorial to a Committee of the Whole on the state of the Union. Mr. HOFFMAN, of New York, said, though I have not in this part of the House been able to hear all or even a majority of the arguments on this subject, yet, as the question has now been stated in a debatable form, and as the House, by refusing to adjourn, have decided to close the debate, I must inflict a short speech upon the House. Now, sir, although it might be proper to refer this subject to that committee when it came here on the Executive suggestion, it appears to me highly improper to do so now, when the bank approaches our door and deBy the history of this question, it appears that when mands a new charter. What, ask a new charter, and the Executive Government for the first time sent to the yet evade a scrutiny into past conduct! Ask power and House its recommendation of a bank, it was referred to patronage for the future, but shun an account for their a Committee of the Whole, and made the order for a past use or abuse! Sir, whether we grant or refuse a particular day. In this way, I understand, the bank char-charter, I hope it may be done, not on faith, not on conter originated. From that period, in all the legislationjecture, not on belief, not on hearsay or suspicion-on the subject, whether the application came here at the but upon truth, ascertained by a minute, diligent, careinstance of the bank, or an Executive suggestion, the ful examination, made in the most patient and searching question has been uniformly referred to a select com- manner. If any individual member of this House were mittee. the proprietor of the stock of this bank, or had his forWhen, a few years since, the President of the United tune invested in it, I ask, would he, without first examinStates, in his message, in a manner most proper, (for ing the books, papers, and agent of the institution, whatever gentlemen may think of his opinion on the sub-place the whole out of his hands into that of the direcject, all ought to admit that the time and manner of giv-tors, to keep and manage for twenty or thirty years? ing it was entirely proper)—when the President expressed Surely he would not. He would know the truth before his views on the subject, as a question of public policy, he would proceed. If the United States do not own the it was, and I think properly, referred to the Committee capital stock of the bank, yet our citizens are interested of Ways and Means. The question was exclusively one in the honesty and fairness of the bank and the soundof public policy, and, viewing it in this light, I joined in ness of its currency to a great amount; and shall we the decision to send it to that committee, expressing proceed to consider and decide on granting or refusing an opinion that an investigation of the conduct of the pre- the recharter, without first obtaining a knowledge of sent bank should not be made, except on her application. the facts which every individual would require to guide But affairs are changed. So far as the question has his private judgment in his own affairs? I hope that we arisen on Executive suggestion, it has been sent to the shall have an inquiry, minute, careful, and judicious, beCommittee of Ways and Means. The bank is now here: fore we legislate on this subject. Let us not proceed on a corporation with greater powers than was ever exercised rumor or hearsay, on the unsworn or even sworn testiby any other corporation under heaven, not excepting mony of interested witnesses--let us know and act on the Bank of England; a bank with a banking capital facts, and not on conjectures. of more than thirty millions of dollars, and a banking If I supposed the Committee of Ways and Means could power of triple that amount, asks a recharter, and that and would go into this inquiry and investigation, I would you should invest her with those enormous powers. rather the subject should go to it as a standing commitWhat, then, are we bound to do? This House is bound tee than to a select committee. If the chairman of that to inquire not only into the constitutional right to grant committee [Mr. McDUFFIE] will tell me that that comthe charter, but also whether these enormous powers mittee have time and leisure to go into this examination, have been used for oppression, extortion, corruption--and that there is in the committee sufficient diversity of or in a just and proper manner to promote all the advan- opinion to induce them to pursue it with diligence, I tageous ends for which it was instituted. Into all these shall feel no objection to the reference of the subject to things, the history of the past, as the best evidence to that committee. But when I recollect the multifarious enable us to judge of the future, we are bound to insti- and laborious duties of that committee, the especial duty tute a most searching and scrutinizing inquiry. We at this time of proposing a reduction of the revenues, should probe all these and every hidden matter to the and other important labors, when it has been repeatedly bottom. In such a matter we cannot legislate on faith. stated here in debate that the Committee of Ways and We must have the books and papers, and the witnesses Means are entirely too favorable to the bank, and no one of truth speaking on oath. When the bank comes here, of its members will avow his hostility to it, I am constrainchallenges a recharter, says she has conducted with pro-ed to believe that a reference of the petition to that compriety, and in a matter useful to all, shall we believe her mittee will be to deny that investigation into the affairs of word, take the unsworn declarations of the interested, the bank which is necessary to show its true character and when policy and duty require that we should rely only on conduct. I am therefore opposed to sending the subject the sworn testimony of honest and disinterested men? to that committee. I hope the vices of that bank may not Now, I appeal to the members of this House, do they be concealed-that a select committee may be appointed believe that the Committee of Ways and Means feel dis- of members, willing, able, and disposed to examine and posed to make this examination; and, if they were dis- fairly lay before the House the honest truth, that we may posed to do it, have they the time, will they, can they, legislate on that truth, and not on fiction and fancy. |