US Presidency
1832

The principle laid down by the Supreme Court concedes than Congress can not establish a bank for purposes of private speculation and gain, but only as a means of executing the delegated powers. of the General Government. By the same principle a branch bank can not constitutionally be established for other than public purposes. The power which this act gives to establish two branches in any State, without the injunction or request of the Government and for other than public purposes, is not necessary to the due execution of the powers delegated to Congress. The bonus which is exacted from the bank is a confession upon the face of the act that the powers granted by it are greater than are necessary to its character of a fiscal agent. The Government does not tax its officers and agents for the privilege of serving it.