Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-01

The gentleman contends, that the words "to coin
money Is gener'c term; that i, means To make any
thhg circulating medium. Now, the power ,o
CON money has always been considered b;yI, nro
rogative OF sovereignty, and, of course an iudepend
u" power. IL, therefore, coming money means TO
make Bank note, according TO the eentlemans
'ue", thcn the power 10 charter Bank must be a
substantive power.
ic con'eh'is that To make corporation, isynot n
'on'he power because il is means and no, an
.'"i ul" corporation is not made for the sake of
e corporation itself, but TO obtain some object If
"' 'houe OF reasoning proves corporation 10 be
"h Incidental power, are not all the powers en,in,e.
rated IN tho Constitution incidental? You do NOT
nay ana collect taxes merely for the sake of LAYING
nnd collecting th''n but to obtain some object You
40 not borrow money for the sake of borrowing the
money bu; TO pay the debts of the u. States Mel.
"cr u" you declare war for The sake of decl,rny
war; n''t 10 obtain some object. In truth Mr. Chair
, cannon DC denied, tina, the creation of Il cor.
poratioh is high fsoyereignty In The exer.;so
oithis power, we have seen mn East India Comn,nv
Wh,ch mas uepopuated the frest portion ofthe lubi
'anie globe AT its touch, thrones that have descend
eu rom iaiher oson fora thousand generations have
crumoled into dus-Enp;res have fled from i,s nre
Sence-at its bidding, new dynasties have snr,ng ~,
IN It's hands are the issues of life and of death I,
can levy war and conclude peace And will il ho
sod' 'hHt such power passed as an incident to The
lievc it. " ''' 'e'
mere, SIR, might conclude, having established. ne
'"ihN, beyond the possibility Of controversy tbot
me power 20 create Bank is n substantive and NOT
an Incidental power But out of respect for the
gentleman, VIII examine his arguments and enlen
Vor 10 sow, tina, the power in question connnt Le
usri'ed from any of the enumerated grants i'm the
CONSTITUTION. The gentleman first examines the
p'"els W lay ana collect taxes Duties and impos,s
W borrow money, and TO coin money; and contends
tllat the right to incorporate Bank is derived from
these three powers taken together; and after HAVING
demonstrated this tn his o,cn satisfaction he then
proceeds 10 prove that it is derived from eoch IT,
I
'he power to create Bank is a unitv and cannot
pass unless us an incident to one power Fir
t"sses as an incident to all three, Jointly il will he
l''cuihoeht on The gentleman TO shew what portion
rasses from the taX-laying power, what portion
from the power TO borrow money! and whnt Tron,
'he power 10 coin money. 1t seems TO me sir t,,,
a little reflection would have convinced the gen,Ia
"eniah, that II he could not derive this right from,
soihe one oil the enumerated powers, il could
not he derived from all the granted mowers tolo,
co"ecuvey. Let us now examine the arguments of
INC gentleman from the three powers taken scn,rne
~ fist he contends TINT the duties mposts
Nc must he uniform throughout the u. States md
as the States have created numerous Ranks w'',,;oG
nave produced currency of unequal value in The
diiierent parts of the Union, for instance the no,es
oil certain banks would be worth only seventv-fve
cents III 'he dollar ut Charleston, while the same
notes would he at par in Bos,on-and therefore ;r
congress cannot create Bank to give n urirorr,
currency IL cannot exercise the power 10 Law dut;es
&c. winch Is expressly granted. would ash, the
winch did not pass by it. when it was ratified Inv ,i
people: L believe man in this body has con
tended for doctrine, bold and danaerous-,
uocH!he, whIch would draw within its vortex. nil
e 'S's OF lie States and the liberties of the Peo
p'e. Inc argument of the gentleman appeors IN
DE TINS that Congress may ncorporate n R,nl bo
'""se ihe State Governments have exercised tbat
power, and because the notes of some of the B,nls
may Hot be OF equal value in every portion of the
Union; and ifthc governments of the States bod M,
exercised this right, Congress would nor bnve roe
'eSsed II. Does not the gentleman perceive rhot
according TO this argument Congress derives i,s
fisht 10 incorporate a Bank from the acts of the
State Governments, and not from The Cone,;,,; ;n
OF the United States
inc gentleman be correct ihcn CONGRESS vyo,ll
"ot nave me r'St 10 lay and collect duties Sc in
goId or SILVER, or in United States Bank notes he
cause gold or silver may not he of equal v,Ino :;
New Orleans and in Boston, The volne of ,,,onom
depends upon the quantity in circulation comnareJ
wan The other commodities in the country: and !, i;
Impossible that Ibis proportion can be exactly The
same IN New Orleans ard i'm Boston nj rio CO.,
Ime; and therefore, neither gold and silver nor
oh"e" states Bank notes, could be of exactly the
same Naiao III both OF those places at the same time
a'" it lo""ws7 according TO the argument of the
sc,,'iehnilI mat duties, &c. could not be laid and
collected in either unless the gentleman will contend
that Congress has the power TO rerulote tho oan,;
OF money that shall circulate i'm every norton of
the Union, and determine how much propeuv coch
ihu'V"'a' snail hold, which would give Congress
Ir.....i e.. VI ''c Nuoie property OF the
United States; and this result seems TO me to he rho
of his argument
Bui, SIR lie meaning of tie Constitution ;s tba,
me same sum shall be paid in every part of Tie II
StaicS; hen, let us suppose that ibe notes of cer
ram Banks were at a discount of % per cent M
charleston, and at par in Boston, and the Cavern
i,'eh' should receive them at either place at whot
u'ey piss of, would 1t not produce the same enuoli
~ us they were at par III both? Ii then seems IN
me, tie gentleman has filled to shew that n Voc,
10 incorporate Bank can be derived from tIn III,
ty-aying power. ' VI"
cannot conceive how this right can be deduccd
rom me power 10 borrow money. VIII il be con
tcnded, that the United States has n riobt IN cro. |
an institution, merely to lend them monSyP
Ihe gentleman next considers the power tn col,
money, &c. lie says, to coin money is n eee,,e,.;
teTm-hat 1t means TO make any thing which win
circulate, and he received as money; and to nrovo
ms, lie asks II Congress cannot borrow anv tl,;no
put specie answer, Yes-I answer ihot tie
words 10 borrow money" are used i'm their ,on.,
ektepdcd sense, and that Congress NAV borrow INV
thing which viii pay the debts of the iJni,cd ss,,
Put in the pocer 10 coin money, the signfcotion of
the word money, is limited by the word 10 coin, ~,
com, means to stamp metal not paper Congress- =,
SCH mas gwen an interpretation of this power bv the
esa"sliinent OF mint, and il is now TOO late 70 pive
dIiicfeht consiructlonat least, the nentla0,ou
who is SO fond OF authority, should consider him,
sen lTeciuied' ii ought never be FORGOTTEN f,r
wiiai purpose this power was granted ,Lo, H.,
',--"'ie" ''ns 10 snrire n bord u,o,,1,, c, ,'io
tne people dd not intend 10 confer ON CnS!g,ra 'l
whatever. VI any KIND
INC gentleman next proceeds TO argue from, ,lo
po"V. regulate tie value Of coin, anJ contends
i"' congress derives from this power tIe r;gl,, g,