Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-26
THE GAZETTE;
By EDGAR sNoWDEN.
REMARKS OF MR.. LEIGH,
OF VIRGINIA,

10 the ertensioa of the United States Bank
Charter for sac gears, &C..
MIR. LEIGH said, he hoped the Senate would
indulge him, if he took this early opportunity to
indicate, frankly and distinctly, the opinion he
entertained on this important subject and the
course he should pursue in regard to it. Indeed,
some remarks which had fallen from the gentle
man from Massachusetts, if he rightly under
stood the illusions they imported, seemed to
render such an explanation from him necessary.
1t is known to the Senate, said he, that among
the resolutions adopted by the General Assem-
bly of Virginia, during its last session, which
have heretofore been laid before both Houses of
Congress, there was one declaring the opinion
that the Federal Government had no constitu-
tional authority to incorporate a National Bank;
If contains, indeed no positive instruction to the
Senators representing the State in this House,
but it is deliberate, solemn expression of the
sense of the Legislature, and, have no doubt,
of the general sense of the people of Virginia on
the subject; and this with reference to the ques-
ton of the renewal of the charter of the present
Bank of the United States. 1t is known to the
Senate, too, that must have accepted the trust
which a place in this body imposes, with full
knowledge of the resolution to which have adj
verted Under these circumstances-knowing
what was expected of me when was elected,
representing the sovereignty of the State, and
informed, as am, of her opinions and her will,
il
should be incapable of so far misrepresenting
her, as to vote for recharter of the Bank OF
the United States. for any length OF time, how
: ever short, or with any notifications Whatever.
But, in truth, concur in the opinion OF my con-
stituents on the constitutional question: and that
entirely and exactly / have examined the ar
guments for the constitutonality of such Cor
poration, over and over again, deliberately,
and hope, impartially-I think l understand
them-and | am quite sure that the opinion
have formed is the result of my best judgment.
At the same time remembering that the oppo-
site opinion has been entertained by so many
enlightened men, by large majority of the
States composing this Union, and by a large
majority, too, of the people of the United States,
| cannot say that the Incorporation of a Ma
tona Bank, on the principles on which the pre-
sent bank has been framed is palpGbly uncon-
stitutional; that would be degree of presump-
tion-a want of respect for the opinions of
others-a pretension to infallibility, which | am
incapable Of All | say is, that their reasoning
has not convinced me.
Without entering at large upon the topics of
argument that belong to the question, shall on
ly remark, at present that the power to create
such an institution has been claimed as an Incl
dental power, and chiefly as incidental to the
power of this Government to regulate the cur
rency of the United States, and to the power
delegated to it. to levy taxes and to collect and
Constitution contains no grant of power to re-
gulate the currency; it only empowers Con-
gress to coin money, and regulate the value
thereof, and of foreign coins; to which | cannot
see how power TO create bank paper curren-
cy, or to regulate a bank paper currency Gre
ated by the States, can be incidental. AS to
the other, can easily understand that Nation
al Bank may be, and has been, made an agent
for safe keeping and distributing the public re-
venue-a convenient agent; but the question
with me is whether it is necessary and proper,
or at all appropriate for the purpose?
Among the various arguments against the
constitutionality of the bank, there issone which
has had much weight on my mind and which
do not remember to have seen fairly met and
answered Considering the power to incorpo-
rate National Bank as incidental to the power
of collecting and distributing the revenue, it is
obvious that the fiscal agency of such an insti-
tuition, in which consists the execution of the
power, is only an incidental effect OF the bank
The main purposes of the bank are to create
stock for the profit of the stockholders; credit
for the accommodation of individual dealers; a
bank paper currency of universal circulation,
for the general use of the country; and such be-
ing the main purposes, the fiscal agency of the
bank, in safe keeping and distributing the pub
lie fevenue-an agency wholly unconnected
with the main purposes of the institutions re-
quired of it, as part Though. ] admit, very
~
the privileges conferred by its charter. If this
Government may do any thing, which, though
in the principal design, purpose, and effect, it
has no manner of relation to the powers dele
gated by the Constitution, may yet incidentally
have an effect to execute any of them can re-
ally see no limitation whatever to the Incidental
powers of this Government
Suppose, for example, Congress should in
corporate company, with an exclusive privi-
lege TO transport all passengers travelling
through the country, for its own emolument,
upon condition that it should also transport the
mail free of charge, aud be responsible for all
losses that should occur to individuals or the
public, through neglect accident, embezzle-
ment or robbery; this might be very conve-
nient method of Transporting the mail, a great
saving OF expense to the Government and to the
people, and complete security, or rather an
insurance of remitments by post; and yet the
monopoly of the transportation of passengers
would be the direct main purpose of such an in
stitution, while the transportation of the mail
would only be an incidental effect of it. Would
any one maintain that such an incorporation
would be constitutional 1t must not be sup
posed, that l put the case as one exactly like
the Incorporation of National Bank; / am
sensible of the points of diversity; my only pur-