The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-02-07
Gnngres8.
BANK OF THE UNITED STATES.
HOUSE OF REPRESENTATIVES.
DEBATE

DEBATE
On the motion for striking out the first sec
don ofthe bill for the renewal of Ihe char.
ter ofthe Bank ofthe u S.
JANUARY 16, 1910.
Mr.. BURWSLL-I have made you this
motion, sir, because IL allows the greatest
latitude of discussion upon the Important
points which are preliminary 20 the examina.
ton of the details. 1t rieS the princi Pile of
the bill-and may save much tedious and
useless labor. Should majority decide in
favor OF the Bank of he u ST. ates. as IN II IN
est man will aid IN forming a system best
adapted to the sta,eo! the country, and most
subservient to the purposes OF such an ;nst-
tuti'n The gentleman from Conncc lcut
(Mr Moseiy) has d,n. justice TO my con-
due, and the fairnes. tn which the sub
jeC' mas been t'ea,ed. I have been anxious
70 present the question fairly, not from any
doubt Dr ,ndeciSirI AS to the Course hould
pursue. but from its m magnitude, and the SEN
sibiiity it has excited. II will be recoilec, ed
bs the committee, when the gentleman from
Philadelphia presented he me nori,t, ,,son
which the Secrei ar OF he IRE asur, toun led
his reprYt. on hat as IN all subsequent occa
slons, nv opposirf'n was manifest d; and
will add tina the Particular Sention which
bank has confirmed most strongly former
impressions.
The remarks l shall make are Intended to
sbew that Congress possesses no power TO
incorporate d bauk to slew its effec on the
government, and / satisfy the committee
that the exerrise of the power, EVEN If pos
sessed, is :nexpedient. Wine, sir, feel the
most ardent desire tn consult me cauven-
ence OF the government aud promote the
prosperity OF ne community III gentrli, |
have not lost sight OF the limits within wh CHI
am restrained by me constitution of the u.
:. and considerations Of sound policy. 1t is
my most deliberate convection the co,Ist tuti
on of the country gtUeS no authority to { on
gress to incorporate :, bank and endow the
Stockholders with chart,r d immuni les, and
even, if its dissolution sh uid produce rain 10
the merchants. and, what is Of equal impur-
lance, embarrassment to the government,
they would not be paramount To the sacred
obligation or supporting the constitution,
though am persuaded the dreadful evils
which have beeen predicted from the ami
hilaton OF The bank will soor vanish aud in at
no material shock will be. produced by that
cause.
lhe construction which the constitution
mas received by tn various person. who
have at different times administered l.. has
1dence IN the general or state governments
The unqualified extent given to its general
powers. and the inclusion of incidental pow.
ers as flowing from and belonging to par, ic
uiar enumerated gran S, have constituted the
essential points OF difference among those
who have divided upon he principles OF he
| constitution--,his has been the case not onl,
in the exercise of authority when the rien
| was questI enable, but in cases where the rirhI
was undeniable, tending by its operation e
increase the weight of the general govern
ment. In giving to the consti ut on that ri
| gid construction, which sound policy re-
CURES, JUS regard 10 the harmony of he
states and the perpetuation of their unior
dictates Icannot find any part of author
isbg the exercise of a power, which, from
LIS ma ure, is obnoxious, its tendency alarm
ing, and Its influence in the hands of those
who manage Concerns irresistible
nc power to establish bank Cannot be
deduced from the general phrases " to pro
vide Tor The common defence and general
welfare --b9Cause they merely announce he
| ooJecs tor which the genei al government
| was instituted the only means by which
TINS object is To be attained are specifically
enumerated in the colstituti n, and if they
are not ample, 1t is detect hich Congress,
are incompetent to supply. think this in
. -"NN VIZ 'tioh6cNr III lSutuCn as tnOSt
means were granted to us by those who h I'D
AGED under The confederation, and expert.
enceo its defects, and knew precisely Z
| wh'' exten power was requisite to provide
| tor the common aetence and general wei
fare. In relation to this particular subject
tn, proceedings Of the convention itself fur.
nish the plainest evidence, by rejecting the
proposItioh 10 vest in Cong ess The RICH to
! grant incorpor itions. ] readily admir- the
motive OF deliberative bodies Cannot always
be known; various consider tons might have
operated, they might have supposed the
power already vested--but il Is incumbent
Oh those who can place faith in an lnterpre
tation so repugn n to the Cautious and
guarded phraseOIogy ufthe iuslrum, mt to de.
monstrate IL If the right toiocorporate ex-
ISIS, II Is general grant It power, euually
| applicable TO all the objects of incmp ration
and Cannot be assumed as means TO carry
IN effect any p4r:icuI r grant of authority
Ito my mind IL is mGen more natural to
suppose a power To create monopOlies had
been surrendered to quiet the fears of those
who saw in the consti vi n the germ which
would sooner Or later palsy the virals OF the
state authority. II the general phrases are
not explained III the manner lust mention
| I'd, and powers so extensive and Important
arc derived rom them, Vi would be ridicu
Ious to consider the Jurisdiction of Congress
| restricted they would confer equal autho-
ri!y TO establish mOnopolies in all the various
branches OF individual industry, and COM
Hercial enterprise. Sir, l will Conclude
1 H L.. Il Il. q