Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1811-01-15
Bank oftAe United States.

DIli o continue the Charter OF the LAX
of the United States which was read
through Tor iniormation---
Mr. Basset sail he had constituti-
onal objection to the bill, and could
not by his vote sanction it in any shape.
He therefore moved that the bill be re-
jected. He did not wish to discuss
the motion to-day, but would rather il
should lie over rill Monday. He made
his motion now to enter his prose st at
the threshold against he bill on con-
stiu,ional g, ounds. He bad hoped the
|commities who had The subject under
con. dera>iHn, would have submit d
the question of .oss,itutioDality, in
some shape, before their had gone into
details Ina, not having been the case,
he was compelled to make this mott
on.
Mr. Burwell concurred with his col
league in his objections to the princi-
Iple of the bill. 1t was his decided con.
viction that the contribution did not
lgive to Congress the power TO establish
a Bank of the United States. This
being his impression. and most deli
berste one, because he had viewed the
4 subject in,eyery light he could, in the
1sitdation he occupied as member of
the committee, he could not but vote
| for the rejecti.n of the bill although
The had infended to move that il should
take the usual course of all bills. In
this whole business he said he had been
Iguided by the instructions of the COM
mittee. When FIRST subject had
been presented to the committee, he
had urg d the same objections as were
now ated--but without effect. On
the details of the bill the committee
ihad differed very mate rally; & report
ing il liz its present form was the result
Of mutual accommodation in order to
bring the subject before the House.
The bill as now reported, he said, was
very similar TO the one reported to this
House at the last session---it differed
but in two points, the one was, in re
pealing the 12h section of the act of
1871 which precluded the government
from establishing any other bank, the
other 10 authorising the government O
encrease the CAPT al and take sharesi
self wiki proportionate direction. If
the question of rejection was put, he
WAS bound to vote for it, because he
could not vote for the renewal either
on the grounds of constitutionality or
expediency. But he thought it would
be fair to take up the discussion at a flu
;ure day and, if maj ri,y should be
re lily of opinion that the constitution
had given TO Congress the power OF
establishing corporations within the H..
mits OF the states without their con.
sent, that they might have an opportu-
nifty of mixing thu bib as favorable as
they co Id, and guard against all the
abuses to. which such an institution
was liable. Ii was important in every
point of view that il should be decided
IS speedily as possible, whether as it
regarded The people, the stockholders
or the pecuniarv arrangements of the
government. If the gentleman would
consent TO pe stpone the discussion Of
his motion to Monday, it would meet
his appreciation.
Mr. Basset, complying with the wish
es of his trend, withdrew his motion
for rejection, and moved to postpone
the further consideration Of the bill to
Monday. One f the great arguments
used IN iavor of the re nrwsi & against
the eonS.utional objection, was the &C.
Iquiescence of the states in the act--he
was DESTROYS to reject his biz before ar.
gumen's OF an soquiescence on the
part ofthis House could be draw u from
their consideration oil il.
Mr. Mitchill said he was against the
motion for pos commemorative chair
man Of the con- mice, be sad had
well expressed the reasons which had
Induced the committee to report this
bill. They had been dispo ed to bring
this subject before tn House, that II
might be- there acted on in committee
o. the whole Hoese. The gentleman
from Virginia T MF Basse;1 who had
first spoken had expressed his manly
aud honest disapprobaiion ofthe bill,
and had p otested against it as uRcon-
-titutionsl. Mr. NJ. said he wishe d, sf-
ter having EXPIRE sed lis pinion, that
the gentleman would have permitted