Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1832-08-01

This increase OF capta is therefore, not for pub
|Iic but for private purposes.
The government is the only "proper" Judge
where its agents should reside and keep their of
fees because it best knows where their presence
will be Unnecessary 1t cannot, therefore, be me
cessary or proper to authorize the Bank to lo>
cate branches where 1t pleases, to perform the
public service, without consulting the govern
ment, and contrary to its will The principle
laid down by the Supreme Court comedies, that
Congress cannot establish bank for purposes of
private speculation and gain, but only as a means
of executing the delegated powers of the gener-
al government. By the same principle, branch
bank cannot consttutionally he established for 9TH
er than public purposes. The power which this
act gives to establish two branches in any State
without the injunction or request of the govern
ment, and for other than public purposes, is not
necessary to the due execution of the powers
delegated to Congress.
The bonus which is exalted from the Bank is
a confession upon the face of the act, that the
powers granted by it are greater than are 'necess
sary' to its character of scal agent. The gov
eminent does not tax itsofficers and agents for
the privilege of serving it. The bonus of a
million and half required by the original char
ter, and that of three millions proposed by this
act, are not exacted for the privilege of giving
"the necessary facilities for transferring the pub
lie funds from place to place, within the United
States or the territories thereof, and for disribu
ting the same in payment of the public creditors
without charging commission or claiming allow
ance on account of the differenceo of exchange
as required by the act of incorporation, but for
something more beneficial to the Stockholders.
The original act declares, that it (the bon,,s)
is granted Sin consideration of the exclusive
privileges and benefits conferred by this act upon
the said Bank" and the act before me declares il
TO be Fin consideration of the exclusive benefits
and privileges continued by this act 10 the said
corporation for fifteen years as aforesaid" 1t is.
therefore, for exclusive privileges and benefits, .
conferred for their own use and emolument, and
not for the advantage of the government, that
a bonus is exacted. These surplus powers, for
which the Bank is required to pay, cannot surely
he "necessary," to make it the fiscal agent of the
Treasury. II they were, the exactinn of bo-
nus for them would not be ''proper"
l. IS maintained by some that the Bank is
means OF executing the constitutional power .slo
coin money and regulate the value thereof"
Congress have established mini to coin money
and passed laws to regulate the value thereof
The money so coined, with its value so regulated.
and such foreign coins Congress NAV adopt.
are the only currency known to the Constitution
But II they have other power to regulate the cur
rency, 1t was conferred to be exercised bv them.
selves and not to be transferred to a corporation
Ii the Bank be established for that purpose. with
a charter unalterable, without its consent. Com
gress have parted with their power for term of
years, during which the Constitution is dead
letter. 1t neither necessary nor proper to
transfer Its Legislative powers to such Bank
and therefore unconstitutional.
BY lis silence, considered in connection with
the decision of the Supreme Court in the case Of
McCulloch against he State of Mary land, this
act takes from the States the power to tax por-
ton OF the Banking business carried on within
their limits in subVersion of one of the strongest
barriers which secured them agains: federal en-
croachmenls. Barking, like farming, manufac-
turing, or any other occupation or profession, is
business, the right to follow which is not origi-
nally derived from the laws. Every citizen and
every company of citizens in all cur States, pos
sessed the right until the State Legislatures
deemed it good policy to prohibit private banking
by law. If the prohibltory State laws were now
repealed, every citizen would again possess the
right The State Banks are a qualified restoration
oil the right which has been taken away by the
laws against Banking, guarded by such provis
Legislatures, the public interest requires These
corporations, unless there be an exemption in
.heir charter, are like priIate bankers and bank
ing companies, snlJect to State taxation. The
manner IN which these taxes shall be laid depends
wholly on legislative discretion. /, may be upor
me Bank, upon the stock, upon the profits, or r
any other mode which the sovereign power shall
will.
! Upon the formation of the Constitution, the
States guarded their taxation power with peculia
jealousy They surrendered it only as il regard.
imports and exports. In relation to every othe
OBJECT within their jurisdiction, whether persons
property, business or profession, it was secured
III as ample manner as it was before possessed
All persons, though United States officers are
liable to poll tax by the States within which
they reside; the lands of the United States are
liable to the usual land tax, except in the new
States from whom agreements that they will no
tax unsold lands, are exacted when they are ad
mltted into the Union: horses, wagons, any beasts
or vehicles, tools orproperty, belonging to private
citizens, though employed in the service of thu
United States are subject to State taxation. Ev
|ery private business, whether carried on by al
officer OF the general government or not, whethe
1t be mixed with public concerns or not, even
It be carried on by the government of the Unitet
States itself, separately or in partnership, fall
within the ScoDe of the IN vino mower Of the State