Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1832-07-14

constitutional disquisitiOn. some things were
respectable and some were new. Those whicn
were respcc table, he said. were not new; ana
those that were new he left it TO be inferred that
he considered not very respectable.
He examined and refuted the argument drawn
from precedent. which he maintained was aecid'
edIy on the side of the Bank. Instead of being
against it. He protested against the doctrines
Of the message on the subject OF the lndepen-
dence claimed for different branches OF the TO
vernment. pronouncing. without reser'ation' 'hat
if you take away the power OF the supreme court
to decide whether law OF Congress, Drought
before them, is according to the constitution or
not, YOU subvert the Government, you take away
the last guard-tbe last rampant OF defence. oil
YOUR political and civil rights: the legislative
! discretion stands unres;rained and unrestricted.
Won are brought within the predicament which
Mr.. Jefferson so much deprecated; you have got
rid of unrestrained legislation abroad, to have it
fastened upon you at home. &c. In regard to
the Bank question, the whole action Of the CO.
yernment. of the Executive, under every Pres-
dent till now, of every Congress, and OF the
Supreme Court, had recognised the constitution.
aity of the Charter Of this, as we'll as Of the old
Bank, Sc.
| Mr.. W. then dwelt at some length. on the
positions Of the message, which he considered
untenable, such. for instance. as that one Con-
press cannot bind it's successors, and that every
thing contained in any bill passed by Congress.
that was not absolutely necessary, as some Tea
lures of the Bank charter were said not to be.
was unconstitutional. The absurdity OF this
last notion. he illustrated by reference to the
code of criminal law established BY Congress un.
der Vie general puwer to establish post offices and
post roads; under which. capital punshments
were authorised, which might have been dispens-
! ed with, by substituting other punlshments Tor
! them, and which, therefore, not being necessary,
would be, under the doctrine oil the message. un'
! constitutional. There was no power, indeed, ~
the Bank charter, he argued, which might not
be substituted BY some other Of equivalent effect
and which was not, therefore, according to the
sense OF the message, unconstitutional.
Mr. w. next examined the objections. so OF.
ten repeated, to the present bank. on the ground
of its being monopoly, and showed that II
could not, in any sense of The term, he properly
so called. He then went into an argument To
show the lallacy of the other objection which bad
been made. to foreigners being stockholders In
the Bank, which. he sand, instead Of putting US
in their power, far it goes, puts them in ours
The ten millions which they hold in the stock OF
the Bank. so far as II had any effect. (>maii IN
deed it must BEL was hostage in our hands. Ia
vorabe TO our peace and prosperity. tie then
very seriously dcprce atrtl the Effect OF this de
nunca ion. from such high authority, of inc
holding by foreigners of stock IN American funds
ri. adverted to the canal stocks vt several OF the
s,a,es-Oh,o. of PENNSYLVANIA, OF New York, the
prices OF which were every day quoted on the
London Exchange, ard which might be serious
Iv effected 10 the injury of the interests at these
States. by thts sweeping denunriatlon. If no,
conntrracied lie rIIicued the IDEA ut such IN
vestr,.n.s of their funds in our stocks, by tn-
reigne-s being " dangerous to liberty" which ne
: regarded az mere defamation. &c.
After advertns 10 some other parts OF the mes
sage, he dwplt with great force and some severn
", upon that part Of the message which states
a. an objection to- the Back On the part OF the TX
ecative, that neither upon the proprIety OF pre-
sent action, nor upon the provisions OF ms ac',
uas the Executive consulted. If Congress had
not consulted the Executive. he said. the Execu
tive had consulted them: for the President had
called their attention. three years ago, IN mos
! emphatic TERMS Ia the subject "f the renewal Of
IN, Charter of the Bank, and afterwards recon
mended to them IT, establish Bank, OF which
the prominent, features were, that II was TO have
neither property. debts loans. or credit!
After touching on some other points, Mr.. w.
said the time had come, when we tread on inc
very edge of precipicc Of disaster. general dis
trust want of sound and safe currency; when the
day was advancing which this Bank hat
once put an end to- and which he had hoped ne
yer to see again. 1t was time that the People
should awake to their danger. to a sense of which
he thought this last warning would not fail tt
arouse them.
Serious Disaster. Information reached tht
city Yesterday afternoon that the brig TassO, Capt