Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-26

shown or shall dictate to be proper, may be the
only means which human wisdom can devise, to
avert or to correct measures far more unconstl-
tutional, more abhorrent In principle from their
opinions, and more dangerous and baleful in
their consequences. The alternatives but too
likely to be presented to us, are indeed awful.
Ii may soon appear manifest to all the world,
that the natural DEATH or the violent destruction
ofthe existing bank, which has been essayed, is
to be only the prelude to the scheme OF another
National Bank, constructed on the same gene
raj principle with as large or larger capital,
and obnoxious to the same constitutional OBJ
jectons, as the present bank, with these only
differences, that the mother bank will be located
in New York, instead of Philadelphia, and the
direction put under the absolute control and do
mnion of the President of the United States
The first may serve to conciliate powerful
popular influence to the support OF the scheme;
the last will give the President far more OF real
substantial power, than the whole patronage OF
the Government now vested in his hands
(which has given him power enough, and toe
much already can be made capable OF ex-
erting-a power to dispens the wealth OF the
national power over men in their private al
fairs-a power to tempt or to constraln them IN
to passive submission to the Executive Will. l
am aware that the present Chief Magistrate (ll
may credit the reports ofthe committees that
have waited on him on the subject of the depo-
Sites the truth of which cannot doubt has said,
that he will never consent to renewal OF the
charter of the present bank, or to the incorpo-
ration of another bank; but then, if | under
stand the meaning of his words, he has only re-
solved never to give his consent to either OF
these measures, until his experiment OF making
the S. banks serve the purposes OF the hsCaI
agency which the Bank of the United States
has performed shall have failed; and appre-
bend he may say, with perfect truth, at any
moment, indeed at the present moment, that the
experiment has failed. hope there are some
means within the power of Congress to ascer-
tain the state of the Treasury; for my own part
am expecting the disclosure with the utmost
anxiety Then, SIR. cannot help remembering
that the President, in his veto message told
Congress and the nation, that if he had been
consulted, he could have given such plan OF
National Bank, as he would have approved q
speak from memory, and do not pretend to
quote his words-but | am sure of the import of
them
The President therefore, is of opinion, that
there may be National Bank constructed
which will be no wise unconstitutional, and he
will give Congress the plan if it will only con-
sent to the introduction of Poynings' law; that
law so cunnngly devised to keep Ireland in
subsection to the crown of England; that law,
by which the Irish Parliament could pass no bill
except such the heads of which were furnished
from the castle They who tell us that the
stitutional power to incorporate National
Bank, either forget his avowal of opinion in one
of the most solemn acts of his official life, or
they do not think he was then sincere. No,
sir, the President does not concur with the
General Assembly of Virginia on this point
He may with perfect consistency, approve
charter of bank which shall be cOnformed
with his ideas of expediency; and as his avow-
ed objection to the present one is that it is ca
pable ofinterfering with his Government, we
may infer that he will approve the charter of
another bank, so constructed as to be under the
control of his Government and if he will not, his
successor may.
An honorable gentleman from New York
(Mr. WRIGHT) has, | understand, explicitly de-
clared his opposition to the renewal of the pre-
sent bank, and to charter of any other Nation
al Bank. | do not question his sincerity. But
know that all men are, more or less, the crea-
lures Of circumstances; that strong temptation,
or imperious necessity, has often changed mems
opinions, and yet oftener their course of con-
duct; they may mount to degree of intensity
which no human hrmnesS can resist; and think
it not at all improbable that the Developments
of this present year, 1884, may serve to show
the people of Virginia the imminent danger,
not to say certain prospect, OF new bank over
the direction of which an overruling influence
will be given to the President and which will
thus combine the tendency of the present bank
fthe Government to monarchy. If such an
alternative be presented to us, we must make
our choice of evils.
Or, perhaps, the developments of the pre-
sent year may open to us the prospect of that
Bank ofthe United States, the scheme Of which
was darkly intmated to the public in the first
message ofthe President to Congress, at the
first session after his first inauguration-the
same that was commonly called Treasury
Bank. do not know that fully penetrated the
design, perhaps it was not intended to be intel
ligible to ordinary minds; or, perhaps, it was,
at the time, in crude, undigested state-but,
as understood it, Gndeed, could make nothing
else ofit) the plan was, to convert the revenue
of the United States, between the time of the
collection and the disbursement of it, into a
bank capital, to be managed by the Treasury,
under the control of the President. Now, sir,
suppose the alternative shall be presented to
us, whether the charter Of the existing Bank of
the United States shall be renewed, or such a
Treasury Bank as this established? Such a
Treasury Bank as this? 1t would give the
President the means of purchasing crown-no
matter whether he should employ those means
or not, they would constitute the potentially of
kinO1v dominion and 7 wOuld trlst No Such