Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1830-12-21
9sSe1seegosuD G9aDtD+
l,I;EsnAX MORNING. pEcEMnER ~, 1850.
THE PRESIDENTS MESSAGE.


Banh Of lie United Sfo,e,-.Nr. y. Bu When
II his first Message, Presiden: Jackson took ground
tgaust the renewal of the charter Of the Bank of
The u S atas, it viewed generally even by those
who no we'll wishcrs to that Institution, as an
oficous and uniustiffable interference with matters
ex'aneous to his constitutional duties. His torn Of
office expires IN ls33-the charter of the Bank Not
Til 1864 period years beyond the date of his
hss Massage! Was the time selected by him for ex-
pressing his hostility. the proper time? Was thi.
early intima'on of his opinions rendered necessary
by his duty, BY the circumstances of the country al
of the Bank-by any thing it had done, or not done
hy any popular demonstrations financial occurren-
ces which made it incumbent upon him. to constitute
the Bank and lis concerns, topic of the Message,
No man will pretend to say 50. The introduction of
the subject wholly gratutous, uncaled for by any
public considerations and foreign from the duties in,
posed upon the President by law or Constitution.
That part of the Message however. was treatcd
with the respect due the Chief Magistrate, by both
branches of Congress- 1t was referred to The appro-
pirate Committees, and drew from their Chairmen
Messrs. Smith of Md. and alcDufiie Reports memo
rabc for their ability and cnncIusiveness and which
attracted in America and England sr almost unpre-
cedented degree of attention and Communications In
those Reports, in to the allegation in the Pre-
sldcnts Message, that sit must be admitted nv al
that the Bank has failed in the great end of essb
fishing uniform and sound currency"-hsse propo-
sitions are unanswerably demonstru
By Mr.. McDufic Bank has actually fi,rn-
ished circulating medium uniform than specie
BY hir SInith.-"The United States are in the
enjoyment of uniform national currency not only
sound and uniform in tself and perfectly adsp ed 10
all the purposes of Government, and the community
but more sound and uniform than that possessed by
any other country. 1T Is not easy to imagine it is
scarcely necessary TO desire, any currency better than
this u
These propositions have said, Joining issue
In the fullest and most explicit manner, with the Pre-.
sidcn''s allegation not merely sustained but
demonstrated, in The cleare,t manner. That was
Proved which at first consideration appears paradox
lcal-that the currency furnished by the Bank of tho
U States, was actually uniform than gold and
silver themsevos-for whereas, crifice of fsco r
cent was necessary to transfer gold and silver from
New Orleans to Philadelphia, sacrifice of but on.
per cent was required to transfer So much none,
since the introduction of the currency furnished b,
the Bank This is degree of perfection, exceeding
ideal perfection. 1t is the ne plus ultrc which it i
impossible to surpass.
In the face ofthese able and unans wersbls Rs
ports ofhc Committees Of the Senate and House o
epresena'ves-emanating from Committees, the
majority Of whom were the political friends of III.
President-the Chairmen who drafted them, hi
supportcrs-in the face of the profound conyic
ton wrought the public mind by the facts AMI
reasoning, which inevitably and rresistbly led TO tn,
conclusion, that the Bank fad answered the prea,
end ofits institution President to the astonsh
mcnt Of all not in the secret, has in his second meg
sage reiterated the blow aimed at the Bank in his
first, and with notifications, introduced sec
ond time Mr.. Van Burens deformed and monstrous
conception of n Government Bank Be it remember
ed this Message is addressed to the same CONGRESS-
to the same men, to whom the last was addressed
Were it a new Congress, come from the BODY of the
People, since his first Message less surprise would
be created by his pertinacity. But it is precisely
with few individual exceptions the same body of
men, who have already rcgatved his opinions on the
Bank, and nailed to the counter. his proe ola Gov
eminent Bank We desire the reader to bear this
in mind illustrative circumstance which we
shall presently attempt to get at the bottom
of thu natter.
There being shadow Of necessity for the express
sion Of the Presidents hostility to the Bank or for
Pre- sing At this time its charter has vet six years
- ran, the consideration of the question whether it
o1ght to be rcchartered the interests Of individuals
cn1 the Government ITSELF ought TO have restrained
'a lr9in a Course inA'ctIng those interests the
deepest injury. The value of stock is materially
dependent, the rechartering Of the Bank--thou
sands have their all vested in it's stock--and to take
o course unnecessarily, gratuitously, the necessary
tendency Of which is to knock down its value il wan
to1 and tyTannc1l Injustice. It INJURIES individuals
without any corresponding benefit to the Stute
Such, and SO remarkable, from the time and the
circumstance, has been President Jacksops cour.A
towards the Bank pf the U. States-Every man mus,
sec and feel that there must be some ex,raordina.v
n'old motive for course so Unprecedented. CO
obstina ely persisted in, urdcmsnded by the stats
Of public affairs. Whai those mo,iyesi WIN
did the President attack the Bank in his frs,
W IN the question OF extending its charter neither
vas nor could be before him--and why, under the