The gentleman asks, if we, without an examination, shall, by giving the
State deposits to the Bank, and by taking the stock reserved for the
State, legalize its former misconduct. Now I do not pretend to possess
sufficient legal knowledge to decide whether a legislative enactment
proposing to, and accepting from, the Bank, certain terms, would have the
effect to legalize or wipe out its former errors, or not; but I can
assure the gentleman, if such should be the effect, he has already got
behind the settlement of accounts; for it is well known to all, that the
Legislature, at its last session, passed a supplemental Bank charter,
which the Bank has since accepted, and which, according to his doctrine,
has legalized all the alleged violations of its original charter in the
distribution of its stock.
I now proceed to the resolution. By examination it will be found that
the first thirty-three lines, being precisely one third of the whole,
relate exclusively to the distribution of the stock by the commissioners
appointed by the State. Now, Sir, it is clear that no question can arise
on this portion of the resolution, except a question between capitalists
in regard to the ownership of stock.
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