The Arkansas advocate., 1832-08-15

be the fault of the Bank, and they must be responsible for it.
 That the notifications thepresent bill contains. are not such as to make 1t consistent with the rights or liberties of the people.
 That the 4th section secures to tine State Banks the privilege of paying to the United States Bank, any debt due them, in uncurrent branch notes, but does not secure a like privilege to pri- vate citizens, and that this is most odious feature in the bill.
 That the 9th section, in the propo- sed bill, is worse in principle, than the present Bank, inasmuch as it re- quires that the names of the stockhol- ders should be returned to the treasu- rers of the several States respectively, whereby they would be subject to a b. cal taxation of at least one per cent. per annum, to which tax foreign stockhol- ders would not be subject; thus ren. dering the stock in the hands of foreign CTS worth ten or fifteen per cent. more than in the hands of American citizens.
 i hat the western States, owning d small portion only of the stock of the Bank, and having large amount of the capital loaned to their people, it ope- rates as continual drain upon those States, for their specie to pay the divi- dends on the stock; a burthen which the western people cannot long bear.
 That most of the stock would leave the United States; and that from two to five millions of dollars would be an- nually sentto Great-Br:tain, to pay the dividends to their stockholders.
 That as only a small portion of the stock would remain in the country, the directors and their friends would mo- nePoiize it, ai1d would be enabled 10 re-elect themselves from year 10 year, aud their interests thus become identi- fled with the interests of foreigners.
 That the bank might put forth it's strength at elections, and ruin these who were not subservien, to its views.
 That in case of war, thus organi- zed, it would be more formidable and dangerous than the fleets and armies of foreign enemy.
 That the ownership of stock should be exclusively confined to Americans, and that stock owned by aliens should be forfeited.
 Ihatthe decisions ofthe Supreme Court, as tothe constitutioaatity ottte Banh, arc not to be considered as conciusive, so long as they are unsatisfactory 10 the people.
 That the officers of the government must decide for themselves, under their oath of office, as to the constitutionality Of particular measures.
 That Congress, the President, and the Courts, must each decide for them selves.
 That section 2l, in the existing Bank charter, which provides that no other company shall be incorporated, during its existence, is unconstitutional, Con. gross having no pozrer thus to limathe legis- tative acts of its successors.
 That the clause limiting the amount of banking capitaiin the District of Co lumbia, is alike unconstitutional, inas- much as it is an attempt to amend the constitutionby legislating on the subject.
 Thota c Bank naight De formed 50 as to be free from al these di6Sculhes and objec- tions; aud that the Erecutipe, ffhe had been applied to, mould hope presented q project of such Baak.
 That the present agitated state of the nation is to be ascribed 10 the legislation of Congress, which has tended to array one section of the country against aH- other section; and that t is now lime to pause and endeavor to compromise those conflicting interests, thus brought in collision.