The Sun.
London, England, 1841-10-02 00:00:00

SHOCKING .A.CG./..OEST-2015.1i LIVES LOST.
(Front the Vernlunt Gaz.,:tte of Sept. 9 )
A most distressing, accideut happened at the marble
quarry of Julius Beenee, Esq. of Arlington, yesterday,
at about four o'clock in the afternoon. The men at
work in the quarry had drilled a hole .eight feet deep.
and were engaged in tampering it, when it pre-
maturely exploded, killing . Mr. Calvin Andrew and
Mr. Jonathan Hawkins instantly, and wounding
Mr. John Perquay, and. Mr. Allen lleming in a shocking
manner. Mr. Perqua:,7. died. at about nine o'clock, and
Air. Deming at ten o'clock the same evening. Mr. Per-
quay had one arm blown off and his eyes put out, one
lost an arm and a leg another an arm, and one his leg
and a part of his head, and were4,most dreadfully muti-
lated. They have all left families except Mr. Perquay
11r. Perquay resided in Pownal, the others in Arlington.
NEW YORK MONEY MARKET, SErr.
SALES AT 'I7LIE STOCK EXCHANGE.
$4,000 N. Y. City Fives, 1856 .. 841
2,000 Ohio Sixes, Ib6o

1,509 Ditto 'do
3,000 Indiana Fives .... 48
3,000 Ditto do
2,0005500 liiititaitaroen
Shares
iteteTradlwi Merlin;
Delaware
Fives edu H
s next week 47
47i
50 Bank
kdson Canal, b n. week 10631
10 Ditto do do
225155
Ditto
ttt t
ott oo anc
Vicksburg
soos
ffu
rcAgomiuns
Bank
int:l27
.e.
cash 11(031
5 Ditto
50 Da
to NewdoJersedyonailroad
10 Ditto Stonington Railroad
25 Ditto do do
50 Ditto Harlem Railroad .......... 29a
b 30 days 17A
50 Ditto do do
200 Ditto Long Island Railroad . .eash 52:1
50 Ditto do do b 25 days 52,
100 Ditto Paterson Railroad
10 Ditto Canton Company, Baltimore 25
15 Ditto New Orleans Canai 4O
At the Board this morning the sales of State securities
were to a large amount. Indiana fell off 1 a 14,-. United
States Bank, ; Bank of Commerce, 4 ; Delaware and
Hudson, advanced P:1 ; Harlem, ; and Long Island and
Paterson_ltuilroads, 1.
.is the closing day for
the steam- packet, and a fair business has been done.
Most of the sales for London bills have been at 9+ cent.
On Paris, sf. 20c. ; Holland, 404; llamburgh, 34 a 4 ;
Bremen, 731 79.
Domestic.-1,000 dollars on New Orleans sold at
95k. PhiLuielphia is held at 97k a 4 ; Baltimore, 981.
At Philadelphia yesterday United States Bank shares
sold at 7+, and 2,500 dollars of the notes of that institu-
tion at 7P.
HEALTH OF NEW ORLEANS.
(From the Bee of Sept. 4.)
HEALTH OF THE CITT.—The number of interments,
reported to the Board of Health, for the 24 hours ending
yesterday at noon. is 26, of which 14 were yellow lever.
REPORT OF THE CHARITY-HOSPITAL.—DUCHIg the 26
hours ending yesterday evening, at six o'clock !
Admissions 25, of which 16 yellow fever.
Deaths__ 6. „ 5 do.
Discharges 16 9 do.
Number of patients remaining in the hospital, 359.

PRESIDENT'S MESSAGE.
VETO No. IL
TO THE HOUSE OF REPRESENTATIVES OF
THE 'UNITED STATES.
It is with extreme regret that I feel myself con-
strained by, the duty faithfully to execute the office of
President of the United States, and to the best of my
ability " to preserve, protect, and defend the Constitu-
tion of the United States," to return to that House in
which it originated, the Bill " to provide for the better
collection, safe keeping, and disbursement of the public
revenue by means of a Corporation to be styled the
" Fiscal Corporation of the United States," with my

written objections.
In my message sent to the Senate on the 16th day of
August last, returning. the Bill " to incorporate the sub-
scribers to the Fiscal Bank of the United States, I I dis-
tinctly declared that "my own opinion has been uni-
formly proclaimed to be against the exercise of the power
of Congress to create a National Bank to operate per se
over the Union," and entertaining that opinion, my main
objection to that Bill was based upon the highest moral
and religious obligations of conscience and the Consti-
tution. _ _

I readily admit that, while the qualified veto with
which the Chief Magistrate is invested, should be
regarded, and was intended by the wise men who
made it a part of the Constitution, as a great conser-
vative principle of oar system, without the exercise of
which, on important, ;occasions, a mere representative
majority might urge the Government, in its legislation,
beyond the limits fixed by its framers, or might exert
its just powers too hastily or oppressively, yet, it is
a power which ought to be most cautiously exerted,
and perhaps never except in a case eminently involving
the public interest, or, one in which the oath of the Pre-
sident,, acting under his convictions, both mental and
moral, imperiously requires its exercise. In such a case
he has no alternative. He must either exert the negative
power entrusted to him by the Constitution chiefly for
its own preservation, protection, and defence, or commit
an act of gross moral turpitude. Mere regard to the
will of the majority must not, in a constitutional repub-
lic like ours, control this sacred and solemn duty of a
sworn officer.
The Constitution itself I regard and cherish as the
embodied and written will of the whole people of
the United States. It is their fixed and fundamen-
tal law, which they unanimously prescribe to the
public functionaries, their mere trustees and ser-
vants. This their will, and the law which they
have given us as the rule of our action, has no guard,
no guarantee of preservation, protection and defence,
but the oaths, which it prescribes to public officers—
the sanctity with which they shall religiously observe
those oaths, and the patriotism with which the people
shall shield it by their own sovereignty, which has made
the Constitution supreme. It must be exerted against
the will of a mere repreSentative majority, or not
at all. It is alone in pursuance of that will that
any measure can ever reach the President ; and
to say that because a majority in Congress have
passed a Bill, the President should therefore sanction
it, is to abrogate the power altogether, and to render its
insertion in the Constitution; work of absolute superero-
gation. The duty is to guard the fundamental will of
the people themselves from—in this case I admit unin-
tentional—change or infraction by a majority in Con-
gress ; and in that light alone do I regard the constitu-
tional duty which I now most reluctantly discharge.
Is this Bill, now presented for my approval or disap-
proval, such a Bill as I have already declared could not
receive my sanction ? Is it such a Bill as calls for
the exercise of the negative power under the Constitu-
tion ? Does it violate the Constitution by creating a
National Bank to operate per se over the Union ? Its
title, in the first place, describes its general character.
It is " An Act to provide for the better collection,
safe keeping, and disbursement, of the public revenue,
by means of a corporation, to be styled the ' Fis-
cal Corporation of the United States.'" In style,
then, it is plainly national in its character. Its powers,
functions and duties, are those pertaining to the collect-
ing, keeping and disbursing the public revenue. The
means by which these are to be exerted is a Corporation,
to be styled the "Fiscal Corporation of the United
States." It is a Corporation created by the Congress of
the United States, in its character of a National Legisla-
turefor the whole Union, to perform the fiscal purposes,
meet the fiscal wants and exigencies, supply the fiscal
uses, and exert the fiscal agencies of the Treasury of the
United States. Such is its own description of itself. Do
its provisions contradict its own title? They do not.
It is true, that by its first section it provides, that it
shall be established in the district of Columbia, but the
amount of its capital—the manner in which its stock is
to be subscribed for and held—the persons and bodies
corporate and politic by whom its stock may ie held—
the appointment of its Directors, and their powers
and duties—its fundamental articles, especially_ that
to establish agencies in any part of the nion
—the corporate powers and business of such
agencies—the prohibition of Congress to estab-
lish any other corporation with similar Powers, for
twenty years, with express reservation, in the same
clause, to modify or create any bank for the district
of Columbia so that the aggregate capital shall not ex-
ceed five millions—without enumerating other features
which are equally distinctive and characteristic—clearly
show that it cannot be regarded as other than a bank of
the United States, with powers seemingly more limited
than have heretofore been granted to such an institu-
tion. It operates per se over the Union, by virtue of
the unaided, and, in in my view, assumed authority of
Congress as a national Legislature, as distinguished
from a bank created by Congress for the district of Co-
lumbia, as the local Legislature of the district.
Every United States Bank heretofore created has
had power to deal in bills of exchange as well as local
discounts. Both were trading privileges conferred,
and both exercised by virtue of the aforesaid power
of Congress, over the whole Union. The question of
power remains unchanged without reference to the
extent of privilege granted. If this proposed corpo-
ration is to be regarded as a local bank of the Dis-
trict of Columbia, invested by Congress with general
powers to operate over the Union, it is obnoxious
to still stronger objections. It assumes that Con-
gress may invest a local institution with general or
national powers. With the same propriety that it
may do this in regard to a bank of the District of
Colombia, it may as to a State bank. Yet who can
indulge the idea that this Government can rightfully, by
making a State Bank its fiscal agent, invest it with the
absolute and unqualified powers conferred by this Bill ?
When I come to look to the details of ..the Bill,
they do not recommend it strongly to my adoption. A
brief notice of some of its provisions will suffice
Ist. It may justify substantially a system of dis-
Counts of the most objectionable character. It is to
deal in bills or exchange drawn in one State and
'payable in another, without any restraint. The bill
of exchange may have an unlimited term to run, and
its renewability is nowhere guarded against. It may,
in fact, assume the most objectionable form of ac-
commodation. It is not required to rest on any actual,
real, or substantial exchange basis. A drawer in one
place becomes the acceptor in another, and so in
turn the acceptor may become the drawer, upon a
mutual understanding. It may, at the same time, in-
dulge in mere local discounts, under the name of
bills of exchange. A bill drawn on Philadelphia on
Camden, New Jersey—at New York on a border
town in New Jersey—at Cincinnati on Newport, Ken-
tucky, not to multiply other examples, might, for any
thing in this Bill to restrain it, become a mere matter of
local accommodation. Cities thus relatively situated
would possess. advantages over cities otherwise situated,
of so *hied a character as most justly to excite dissa-
tisfaction.
Second. There is no limit prescribed to the pre-
mium in the purchase of bills of exchange, thereby
correcting none of the evils under which the com-
munity now. labour, and operating most injuriously