Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1814-04-02
From The National Infelligencer.
THE NATIONAL BANK.

tits with no little qualification we have learnt
that it is the positive determination of many
Members of the House Of Representatives, OF the
u S that the subject of National Bank should
be brought forward in practicable shape be-
fore tina adjournment
The constitutionaIity Of the measure, if ever
doubtful, has been settled by the decisions of
the Judiciary under the act establishing the old
Bank of the United States; and, even ii the
force of this authority be denied, the change of
circumstances and Of the usages Of trade and
commerce, have made the agency of such an
Institution undeniabIy necessary and proper in
those fiscal operations Of the government, which
are now dependent on the courtesy OF institu.
tons over which the government has no control,
and on the integrity ana soiidity OF number Of
separate Banks, whilst it has no voice in the
selection of officers who are to conduct them.
We need only glance an eye around TO ascertain
that the variance Of our commercial habits be-
tween the period of the incorporation of the
old Bank of the United States and the present
day, are as great as was the change IN the whole
of the preceding century. Such and SO great
change places the question on entirely new
grounds from those on which it then stood -
and, independent of the sanction that the con
struction then given to the constitution has since
received, we believe the present constitutional
ity of the measure to be demonstrate, if not
self-evident.
When we add, to the benefits and facilities
It will afford to the government, the advantages
which must accrue to the people ofthesc states
from Orleans to Maine, from the Atlantic almost
TO the Pacific Ocean, from circulating medium
Of acknowledged and unquestioned credit, in
place OF a myriad Of Banks, many OF them unin
corporated and irresponsible, springiDg up like
o crop OF mushrooms i'll night, we can no lon
ger doubt the expediency of measure which
we believe will afford such obvious and general
accommodation TO every class of tile commune
ty.
II is proposed, as we have heard, to establish
the mother bank, as tIie principal bank is gen.
orally termed, at Philadelphia. This feature,
Though it might assist the passage of the law,
would, we must confess, rob the project of a
National Bank of habits recommendation in our
eyes. 1t takes away the nationality and substi-
tutes a locality Of character, which will be an
objection instead of a recommendation to the
project We had fondy cherished a hope that
the establishment Of the head OF such an insti~
tution at tie seat of government, with branches
d,yerging like radii from the centre, would
have bound the whole Union more strongly to-
pether, by the ties ofdirect interest, added to
those moral sanctions and legal obligations im-
posed by our constitution and form Of governs
insnt. This besehi, as we'll that which
would result from the Institutions being i'm
rncdiateIy under the eye of the government,
would be taken away, II the principal Bank be
transferred from the scat OF government TO Phi
iadeiphia. In reference TO these advantages, il
had as well be placed At Boston or New Orleans
Us vt Philadelphia.