Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1832-08-16


deurs VssO on the Bank Biz. \
The Veto isan extraordinary power, which.
. though tolerated by the Const'tntion' was no'
r,,actad nv the Convention To be used IN
o,l;o.rv cases. Il was designed for instances
Of nrecipitate legislation, in unguarded mo- !
s,,on,s rims RESTRICTS, and it had been thus re-
siricted by all former Presidents, it might not
be l.:ischievous. During Mr.. Madison's admin
istraticn Of eight years, there had occurred
but two Or three cases of its exercise. Dur
ing the last Administration, do not recoilect
that it was once. In period little upwards
of three yeals, the present Chief Magistrate
has employed the Veto four times. we!
now hear quite frequently, in the progress OF
measures through Congress, the statement
that the President will veto them, urged as
an objection to their passage.
The Veto is hardly recOncllable with the
genius of Representative Government. 1t is
totally irreconcilabe with it, If it is to be fire.
ouenily employed in respect to the exped'en-
CIV of measures, as well as their constitution
atty. It is a feature ofOur Government bor-
rowed from the prerogative OF the British
King. And it is remarkable that in England
il has grown obsolete, not ha:ing been used
for upwards of a century. At the commence
ment Of the French Revolution, in discussing
thesprinciples Of their Constitution in the Ma
tional Convention, the Veto held a cOnspcu-
Gus figure. The gay, laughing population OF
Paris bestowed on the King the appelation
of Monsieur Veto, and on the Queen, that OF
Madame Veto. The Convention finally de-
creed, that if measure rejected by the King
should obtain the sanction vi two concnrrlng
Legislatures, it should be law notwlthstan-
ding the Veto. In the Constitution of Ken
lucky, and perhaps in some other ofthe State
Constitutions, it is provided, that If, after the
rejection of a bin by the Governor, it shall be
passed by majority of all the members
elected TO both Houses. it shall become law,
notwithstanding the Governors ou0ecions.
Asa coordinate branch Of the Government,
the Chief Magistrate has great weight. It,
after resnectful consideration of his objec-
tons urged against a bill, a majority OF all the
members elected to the Legislature shall still
pass it, notwithstanding his official influence
and the furce of his reasons, ought 1t NOT 10
become a law? Ought the opinion OF one
man to override that Of legislative body
twice deliberately expressed
The friends OF the President, who have
been for near three years agitating this ques-
ton, now turn round upon their opponents
who have supposed the President quite serl-
Gus and in earnest in presenting It for pubic
consideration, and charge them with prema-
aturely agitati0g it, And that for eiectioneer-
ing purposes The other side understands
perfectly the policy Of preferring an unjust
charge in order to avoid well founded accu-
sation.
If there be an electioneering motive in the
matter, who have been acttiated ny tt
Those who have taken the President at his
word, ard delihefated on measure which he
has repeatedly Recommended to their cOnsid-
Grafton; or those who have resorted to all
sorts of means 70 elude the question! By al
ternately coaxing and threatening the Bank
by an extraordinary investigation into the ad
mnistration ofthe Bank; and BY every spe-
cies ofpostpOnement and procrastinatiOn, du-
ring the progress of the bill.
Notwithstanding all these dilatory expedi-
ents, majority Of Congress, prompted by
the win and the best interests Of the nation,
passed the bill.
And here, Mr.. President, must request
the indulgence Of the Senate, whilst express
few words in relation to myself
voted, in 1911, against the old Bank of
the United States, and delivered on the oc-
casion speech, in which. among other rea-
sons, ! assigned that of its being unconsttu-
tonaL My speech has been read 10 the Sen
late, during the progress Of this bill, but the
reading Off excited no otherreg than that
it was read in such wretched, bungling, man
Cling Manners During long public life, Il
mention the fact not as claiming any merit
for it,) the only great question in which
have ever changed my opinion. is that Of the
Bank Of the United States. If the research
es of the Senator had carried him a little fur
Their, he would, by turning over a few more
leaves Of the same book from which he read
my speech, have found that which made in
1915, in support Of the present hank. BY the 1
reasons assigned in 1t for the change Of my !
opinion, am ready to abide 10 the Judgment |
ofthe present generation and Of posterity. 10
1916, being Speaker of the House Of Repre-
sentatiyes, it was perfectly in my power to
have said nothing, aud done nothing, and thus
have concealed the change Of opinion which
my mind had undergone. But did not choose
TO remain silent, and escape responsibility. /
chose publicly to avow my actual con version.
The war, | and the fatal experience ofts disas-
trons events. had changed me. Mr.. Madison,
Gov. Pleasants, and almost all the public men
around me, my political friends, had changed
their opinions from the same causes.
The power to establish Bank is deduced
from that clause of the Constitution which
conlers on Congress all powers necessary and
proper to carry into effect the enumerated
! powers. In 1871 I believed a Bank Of the
United States not necessary, and that safe
reliance might be placed on the local Banks,
y the administration of the fiscal affairs of