The enquirer. [volume] (Richmond, Va.) 1804-1815, 1810-12-15
he e.. ulrsr
RICHMOND, DECEMBER Is 1910
FOR THE ENQUIRER
To THE VIRGINIA LEGISLATURE.


To THE VIRGINIA LEGISLATURE.
In examining tn propr.e,y OF incorp ra
| ting national Bank under the authority ol
the general government, there are two dis
| tinct and independent questions to be set
tled--First. the Erhcd,ency, and second
ly, the Conshfu'toTanfy Of the measure
Both propositions mus, he resolved in The
afh rmative BY its advocates. whilst those
who oppose it, have to prove the falsehood
OF one only, And yet to judge of the Efforts
made by the first class TO preserve the in
stitution. and the nature of The arguments
they urge, one would imagine, that the
converse of this proposition was true--tha
the opposers sf the measure were bound to
establish the negative in each question,
and those who advocate it, but the aifirma
tive of one. Unless their arguments are
predicated on this idea, where s the neces
sity, before they have disposed of the hrcvi
ous constitutional question, of urging the
advantages which merchants derive from
great banking institution, or the facilities
1t affords to government Where is the
propriety of recommending it as an ampIe
source OF wealth and revenue, or as a pow :
erful engine of financial oteration8 ? Such
reasoners begin DIT the wrong end them
selves, or endeavor, Knowingly to mislead
Vic PuohSs uCy III lbS ullttN- the
brilliancy and grandeur IF their project, 10
divert the attention from the main object
OF enquiry, and thus to elude what they
cannot answer
1, like most other men in the Common
wealth. have an opinion concerning the uti-
lity OF banks generally, and OF the q. States
bank III particular. IT it were important to
decide il, l should not shrink from the cues
tion OF Expet'ency, upon which SO much
has been said OIL he one side. and so little
on the other But to go largely into ths
question, would oe pr ducIng the effect
which the bapk supporters mediate D.
II would weaken a strong Cause Nv minglng
! 1t with foreign matter, and look as if NJ
cessity existed OF terrifying the constitutional
objection by adventituus aid When a nea
! sure was plainly unconski 'utionak l wnu' d
never enquire into its erhedIcncy becaus
1t would be apparently giving to TWO objec
tons, of very different degrees of Importance
the same consequence, and might tend to
impair that yeneration for the constitutions
would tor ever cherish and support F.,
these and other reasons, purposely declius
that question to which SO much importance
has been crafty attached.
Bat thus much l may permit myself to
say - hatit an incorporated u Sia,es'
bank has ITS Conveniencies and dvanta
ges, they are SO nearly counterbaianced
/ by disadvantages and incoavenlencies, ti.at
the question OF expectancy may well puzzle
ana perplex the incest calculator -'Cha.
/ those inconvenlencieS aud advantages which
In. ~, might nave been seen and felt, are
now greatly OveG-rdted since the numerol1
establishments OF sta,e banks among us. a.
dequate TO every legitimate object OF govern
nent OF Indlviduals-and that in estimating
the relative mer''s OF each view of the sub
ljec, we should extend our enquiries % a De-
Rod when great national bank might he
come an instrument in the hands of our rn,
iers. n { only of faciLlufi1 e financial oPE
RATfoNs, but of borrowing what the peo
pie would refuse TO give, what they could
win difhcuity obtain elsewhere and
with which they might accomplish their O
therwlse impracticabe schemes.
Waving any farther remark upon this
part OF the subject, beg cave to direct the
attention OF the Legislature to matters of
greater Importance.
Immediately after the ratification of our
federal constitution, two sets of expounds rs
| appeared who gave TO some of its prov
sions very different interpretations. The
one set were IN favor of SUCH a latitude Of
construction, as embraced almost every OBJ.
Ject OF Legislation OF political economy; and
gave to Congress and the President nearly
the onlnIpOteuce of the British Parliament.
he others were for restricting the grant
OF powers to such as were shecifed in the
constitution, or were necessary 10 the end
and incident to the nature of the specified
powers. 1t won Id lead me too far, to en-
quire OF whom those different classes OF
men were composed, and what were their
respective views or comparative me its Il
Is only essential to mention the fact, and TO
observe, that hence arose the two great
Parties which have ever since agtated and
divided this country, The federalIs,s true to
their hrst impressions, have never ceased
TO advocate broad Interpretation of the
lconSt tuition, with c, view TO the agprap
disement of he general government, and
TO give it8trenSM and energy The repub
ilcahs, on the OTHER hand behaving thai
liberty could be endangered ony by en-
lcroachments on state rights, and that the
powers expressly vested in the general 60
vermont, were quite Sufficient for the pur
poses to which IL owed IS institution, we're
ior restraining within ndrro7ver limits. the
range OF federal authority. These d fFerent
views, on subject of frequent recurrence
could not tail to manifest themselves by
OUert He(s, within short time after the
organization of the government Accpr.
dlngly, we find that ~ tie very fr.t con
gress, at its third session aud zvtfht,t o,,s
year after the new government comu.enc
ed IT'S operations, question did occur which.
l/or the br8t ame, distinctly and yisibly
marked the character and sentiments of
each party. Lett neverbe forgotten, and
at this time especially, LEI it be engraved
upon minde Tho :.