Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-12-17
Richmond, Wa. Saturday, Dec. ~,
THE MESSAGE AVE- THE REPoRT-No.- II

, So H'Vo' 80
THE MESSAGE AND THE REPORT-No.- IL.
We have analized the Presidents Message-yye
nave pointed out two most substantial points of diff
ference between its suggestions and those of the
treasury Eeport.-We now undertake the more
ungracious Office of commenting upon the Report
itself
For its accomplished author, we cannot enter
tain but one sentiment No one in this nation has
greater admiration for his abilities his integrity
his high sense of honor. The firm stand which
he assumed on the Missouri Question-his indepen-
dent cloGuence upon the floor of Congress-his ad-
mirable services at the Court of ST. James's have
made the deepest impression upon every inpenuous
American-The Report before us too is worthy of
his abilities We repeat, that no man, whether he
subscrbes to repudates his propositions can de-
ny to the anthor the possession of the great talents
and energy, by which he is distinguished and with
which they are stamped.-But the more we con-
slider them, the more profoundly do we regret the
errors into which, we humbly think, Mr. McIane
has been betraycd..-We shall touch the material
parts of his Report; referring, as we 20 along TO
such propositions seem to entitled to censtlre
and TO such may deserve the support of the Peo-
pie
! Ills development of our Finances (onc great
duty OF the Secretary of the Treasury, is luminous
and satisfactory. The Receipts ofthe Treasury for
the present year, arc estimated S30,967, POI 25-
of which more than sirteen millions will have been
! appropriated to the payment of the Public Debt
The entire Debt of the u. States on the 2nd Janua-
| r..
McLane shows, that from the estimated receipts of
the ensuing year, the balance in the Treasury on the
commencement of the year, and from the sale of the
Government Shares of the Bank of the U. States,
the whole Debt will be eXtinguished during the
first four years of A. Jackson's Administration
The earnestness with which the Secretary presses
ga contamination so devoutly to be wished for" is
worthy of all praise The spectacle which he OK
hibits 10 us is brilliant and impressive:
"Ihe moral influence which such an example would
necessarily produce throughout the world in removing
apprehension, and inspiring confidence in our free
institutions cannot be questioned Seventeen years ago
The country emerged from expensive war, encun,-
bercd with debt of more than hundred and twenty
millions, and in comparatively defcnceless state
In tins short PERIOD has promptly repealed all the direc
and internal taxes which imposed during the war,
relying mainly upon revenue derived from imposts and
sales OF the public domain From these sources besides
providing for the general expenditure the frontier has
extensively fortified, the naval and maritime resources
strengthened and part of the debt of gratitude TO the sur
vivors of the Revolutionary War discharged We have
moreover, contributed large share the general i'm
provemen added 10 the extent of the Union by the pur-
chase oil the valuable territory of Florida, and finally
CURED the means OF eXngishng the heavy debt incur
red in sustaining the late and all that remained of
debt of the revolution
To effect this great object so dear to the hearts OF
the people, Mr. McLane proposes to Congress 10
authorize the sale of the stock which is owned by the
i u. States in the Bank-We hail this proposition
with peasure-more especially when if is uncon
nected with any pledge for the renewal ofthe char
ter of the Bank."-lt is sincerely hoped that Con-
Sress may pass the requisite law upon this subject
80 far, the Secretary is upon safe ground.-But
he comes next to the proposition for renewing the
charter of the Bank.-And here he gives us the pro-
per caution that he performance of the duties thus
cnjoined by law upon the Secretary of the Treasury
implies however, no commitment Of any other De-
Pd'tn,em ofHe Government, each being left free 10
act according TO the mode pointed out by the Con-
stitution"-This caveat was due both TO the Presi-
dent and to himself; because they are opposed to
each other upon this question. The Presidents
sentiments upon the Bank of the United States, re-
main unchanged. lie has avowed them frankly
TOO much So III the opinion of some politicians who
consult popularity more than truth-Whereas Mr.
Nc Lanes are decidedly in favor of renewing it. with
sucn lodilcauons as experience may have dictated.
We sail not go at large into this subject We
shall not now deliberately discuss the constitutions
ality and the eXpediency of the institution Mr.
! Benton's Speech, Judge Claytons ESSAYS and last
though not least the first No of the last sSouthern
Review" (November) state the constitutional obiec-
IONS Win great cealncss and force. We especially
recommend the No. in the Rcyiew-every line of
ito The readers attention.; but, in the while,
we extract the following summary; trusting that il is
opposite enough to the dizziness of quotation:
" The Bank OF the United States appears then liable
10 me following brief summary Of constitutional objections:
It's notncluded many of the express pow
crs granted TO Congress by the Constitution might have
been, had the Convention seen fit Bank was proposed
discussed and rejected in the Convention; and so obnox-
ouS was 1t considered among the States that it urged
IN the debate that the reception of the Constitution among
the people, woudb be endangered by adopting such mea-
sure.
s. No currency is noticed in the Constitution but me-
tac currency of coined money and as that
and no other every other however useful or convenient
was OF course excluded But the Convention must have
been aware OIL and considered Bank paper currency as
inc Bank oil England was known to them, and The Bank
| OF North America had been in operation since 1881
The Bank of the United States is corporation with
exclusive privileges; it is not public but private corpo
ration consisting of such persons as may become subsc
bers their assgnees and SUCCESSORS - Bank Charter,
Sec. ~ ~
'Ihe Federal Governments a subscriber TO the amount
OF seven millions out of try-ive millions of dollars and
elects directors in proportion TO its stock 1t NAV be said
that this Is, IN part, public, and in part private copo
ration Lett be In the Convenon the power of in
cooperating proposed TO be given TO Congress gen
orally, and negatiyed.
1t proposed to be given in cases where the par
cular States had not the power, which might, nevcrthe
less, be exercised for the public good--negativcd
II was proposed to grant the power of incorporating
specially, for roads and canals--ncgatived.
was proposed three times TO incorporate an IJnivcr
sity-negaived.
10 establish post and military roals-neeatived
"Io establish seminaes for the promotion of literature
arts and sccnccs-negatvcd.
"Ihe same for the promotion Of agriculture trade
commerce and manuiacturcs--ncgatived
30 that in whatever possible form the power of incor-
P~dg could be proposed, IL was steadily rejected by the
Convention The power of direct incorporation having
been thus repeatedly refused to the General Government
can they itby indirect means-by unforeseen un.
suspected construction
The Review then goes on TO show, that although
1t may be of much convenience in collecting and dis
ributng the public revenues il is not "indispensa-
bie, as Mr.. McLane seems consider lit is not
so necessary"(t Ito use the epiihet of the Constitution
as that the government cannot get on and we'll too