The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1811-03-06
No. XII.


were obnoxious to The people. Ii the bank
OF the United States had then been under
their control, they would have sent it to the
grave of the Capulets, with the new Judiciary
and excise, and If :sderalists had chosen to
be pall-hsarers or mpuiners, they would not
have been dei,ed The ,oilice they held near
ly every other inthe gitt Of governments
In that day Republicans had no wish TO
breathe on the dry bunes Of federalism, and
/, is presumed that the same respect for pub
lick opinion, the same sacred regard for the
principles Of the revolution now prevail in all
the departments OF our government.
No question hase ever been before Congress,
involving so much feeling and interest, as the
present one Of giving new and perpetual life
to the United States bank. We may have
war with England or with France. Such
war must, after season, be Terminated, and
some portion OF independence will remain TO
the people Of our beloved country, but the
revival of that bspk would make perpetual
the evils, which have beer enumerated
Our constitution did never inyes, Congress
with power to incorporate that bank, but hav-
Ing established the funding system, they es-
tabiished the bank NJ necessary and proper
for carrying into ,hcct the oigoing powers"
thus furnishing IN a!afning commentary on
that vague &c legslion oil powers, which the
good sense of the convention ought TO have
olottcd out forever.
Legislative powers are never ehstick,
Once stretched, they never rccoil. We re-
ly not on questioning the power oil Congress,
nor on any review Of the manner in which
the iavors OF that bank have been dispensed,
because such rcs;ancc must imply that their
charter was virtually granted during good De-
hapior but the Limitation TO the 4lh oi March
Is was absolute. ae
Though the stock Of the United State.
bank is daily falling in market, anG though
every thing indicates its haste towards that
bourne" whence no bank ever returned,
yet the directors end stockholders AFFECT TO
have t,al conhsstis- that their chartey will be
renewed. In The hard busines OF lending 10
and collecting from borrowers, these men
have acquired rigidity Of nerve, we'll fitted
TO the difficult parts, which they now have to
act. The most int1e eKible Of them are TO press
their customers close as possible without
causing a general rising The most flexible
are u appear at the seat cf govcrnm,nt, for
the hopeful purpose of soliciting Congress
TO take the children's bread and give i. 10
them
viii they plead their services in the rcvo-
luton, their supper, OF Republican men and
measures, their zeal in opposing town-mset-
ing resolutions Or will they call 10 mind
the origin, progress, effects and present state
of their bank Will they intimate that j, is
the ony visible link Of union between US and
th,ir molher country
None of these corrosive things will come
from thc bland managers OF the bank memo
rial, but they may mildly suggest the hazard
of mercantile embarrassment, and the pro-
babIi. that the British stockholders will
withdraw the amount of their STOCK (seyen
mlllons) in specie from the business and cir
cuiating medium of the county
Surely the Withdrawing oil seven millions,
for which We are paying an annual interest
in specie Of pr. Ct. cannot be a calamity
but those stockholders will not draw their
millions into the vortex OF British bankrupt
cy they have had experience of the opera
tion of capital in country, where pubick
credit is better, and where profits are greater
than in any ,thcr.
If in those days, which tried mems souls,
the British had threatened to withdraw their
troops, srlllery and military chests from the
country, should We have urged their longer
stay 10 burn our towns, ISOLATE our country
and immure our brethren in prison ships!
II on the plains of Saratoga or York town,
it had been announced 10 our army, that the
funding and bank systems would be establish
ed. and that the Congress of 1910 would Sc
riousy deliberate on the policy OF granting
to foreigners and fedcrslists, their heirs and
assigns forever, the richest fruits OF indepcn-
dence, they would have surrendeGed 10 the
British, instead of bearing off n triumph
their standards.
By the services Of that army, the common
field Of society became the common property
OF freemen. With cool rapacityt whole pot
ton of it, belonging TO the officers and soldiers
was seized and coniscated. Then the rich
e part of the remainder was leased, with