Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1832-07-16
l'Og.IfIE
MESSAGE
FW11N
PRESIDENT or THE UNITED STATES
Rsttt4thg M u tst m, nh his etset6Hs, II.
FRaAHE

tel an Hct In incorporate the suDafTibers ~ lbe
Bank Of the United State5, - was presented to me
on he 18th Of July instant Having considered II
wlth thnt sormn regard to the principles Of the
| Constitution which the dag vas ralcaled t. IN
,pire, and come 10 the conHusicn dat II ought not
10 become II law, herewith return It to the Sendte,
N winch It originated with my objections
| A Bank ofthc United 5tllcs is IN many re
spects, convenient fpr Ii Government aud useful
70 the prope. Entertaining. lhis opinion aud deep
| y impressed with tic b,t..i nat some OF the pow
era aud privileges possessed by the existing Bank
arc Unauthorized by thr constitution, subYcrslre Of
tho rsht5 Of the States, and dangerous 10 the Ibrr
It's ri the people, felt Tiny duty at an carly pc
ri # my administration 10 call the attention ii
Congress - r. pruIcaJiIty Of organizing aa
institution combining ali lis advantage AID obv-
,tlne those objections | sincerely sret thNt, IT
the act before me, can perceive none Of thoSe
notifications Of the Bank charter whlch are ncccs-
aary, IN my opinion, to mike It compatible with
justice, with sound policy, Or with the Constitution
OF our country.
The present corporate body, dcnomnated the
President, Directors and Company Of the Bank Of
the y. States, viii have existed at the time THIS act
Ia intended to take effect twenty years. 1t enjoys
an exclusive privilege Of banking under the author
lty OF the General Government, monopoly OF Its
tlgor and support and, necessary consG
qucncc, dlmosta monopoly Of the foreign and do.
mestlc exchange The poSsIs. privileges and ia
Vors bestowed upon a., u. tie q quad rhartcr, by
increasing the value Of the stock far above its par
value, operated It's n grotulty Of many millions 10
the stockholders.
Az apology may be found for the failure to
cnara ooainst Tins result m thu consideration thar
tbe effect Of the orlginal actof incarceration could
not be certainly forescen at the time Of its passage
The act before me PROPOSES another gratuity to the
holders Of the safne stock and in many cases. To
the same nrD Of Mt least seven millions NOR,
Tins lonotion ind ma ,roIoo, IN INV uncertainty,
=. 10 tbe crte, of tle me-, On all hand, II IS con-
coded TINT its nasqa,,c viii inrreas, At leasttwcntv
~. thirty nor con, mara TN ,,,l,ot ,rico or tho
,t,rs suhiect Ia the n,,rn.nt nf the ,nnuit,, nf
.ao, ono nar ye,r a,,io net. ,6os a,ldIno
m uonrn, ',os t.,,rtl, - IT,. ynIne II MOI
o,o,,,,, ,,,D,, ~, ,,, arr, 10 rec,y t1 hmm,
-, ,r ,,r q p.r,,,,nt Mr. ,b,, ,,,,t, ,,,iIlio,
nr,l.st,,l, of fb,s D,,,l ,r,# llJ Ia, f,r,;,,cr
~ Tins NET the American Rqnuniic n,onf,sGS yir
,u,v 10 make Them -, ,,r.sen, of som millions ~
! -, I7. H. ,..',, ,.,;,,, IN f. i,o,.rs ovI
- , ;,. , ~
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W w '.',.,l -,
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psnn,6 rs rhs,. are worth - omen markef The