Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-06

sustained which must be made up by incrca ed taxa
cy Is least debased the reei Of those whose Il Is mot
vicious. You thus hold a continual bounty upon an
increase debasemen of the currency II il no, only the
duty, but the peculiar interest Of Congress there
Afford uniform medium, by which the obe of this pow
may be effected and have Just shown how opposite
mean Bank this end. The Bank too, promotes tho
object OF this power in another way II affords to the
community by its discounts, amount Of currency to
supply the place OF that distracted by the government,
which upon a late occasion we have amounted 10
upwards OF pine millions Of dollars. The effects OF ab
sacng such from the circulation of the country,
would he felt in every department ofndusry did not the
Bank preserve the equilibrium.
We are told arrangements might possibly be made
amongst the existing State Banks by which all these ends
might be answered. For myself, said Mr.. c., 10 not
believe an uniform currency could be established
such basis But experience has proved the Bank Of the
United S'tes competent 10 these ends. We believe il to
be the only mean therefore, absolutely necessary il they
TO be attained at ALL II gentlemen wish to deprive us
oil It, by showing that another will answer well,
certainly here at least the burhen OF proof fail
hem Hen'iemen tell us of treasury notes, drafts, and
exchequer bills In the letter read us the other day
by the gentleman from Hanover (Mr Roane0 Mr. JeHer-
son dcloses this plan. The gentleman would willingly
request he disclosed the whole 10 the House Here i,
The first suggestion OF that Bank, for which another great
parsonage has been reved this aoor and elsewhere
40 not gentlemen perceive that The very extravaganza
OF all these substitutes for the Bank of the United States,
do In fact prove its constutonay by proving that is
necessary and proper mean carry into effect those
granted powers which they would endeavor TO eecuae
by means so problematca, and SO Objectionable
The power OF creating bank opposite TO that Of
borrowing money! that not how gentlemen can eude
its force What necessary the exercise OF this
power, than accumulation Of capital or more proper
than an establishment, whose very object is to lend? 1t
may be said money may be borrowed elsewhere; but you
make The important operations OF government depend
contingencies, when by such institution you may
der the execution Of this power certain In times OF war;
the means OF anticipating revenue, is frequently of the
utmost Importance to all your operations bank is not
only necessary and proper for this purpose but is
precisely that which other governments daily Gem
uemen say they admit the great utility and expedency of
bank, but deny its con,ilu,onaly. The difference is
great where there is claim Of substantive power but in
The use OF means TO into effect those which clear.
y delegated utility and expediency 60 far to prove the
necessity and propriey OF particular Under tho
old confederation, not only all powers but also all tights
no. expressly deegced prohibited to Congress; and
yet necessity compelled the creation Of the Bank Of North
America. No politicians attached to the
principles OF civil liberty, disposed conine
themselves within their prescribed powers than these IA
theirs Of the Revolution; their example those times
OF our utmost need, lar TO prove the constu onay
oil Bank even according 10 the srctest construction Of
| the word necessary
Were The s,iicness Of construction applied TO
other clauses OF the Constitution. Congress would be
withheld from those exercises of power bene.
hcial TO the community. The power of establishing
post offices and post roads, does not necessarily in
clude the exclusive right of carrying the mall still less of
protecting II by the D6icion oil punishmens; yet there
several capital offences in the post Office law besides
many lesser ones To regulate commerce. does not
cesssr'y imply the right erect lighthouses, be acons
&c nor That OF creating certain off ces, the right of
curing official bonds. Commerce might and did exist
without The and official les be faith fully discharged
without the other These all justified, only neces-
sary and proper means OF carrying those granted powers
into effect
But the gentleman from James City, (Mr. Gregory
o'd us yesterday, and equen hear the arg ument
elsewhere, that Congress have power
poraitn; ills being right pertaining sovereignty.
Sigh, attention TO the history OF corporations will shew
that the last position Is necessarily here BY the civil
Ian rom which they have be en- in the offer
ent European COLES, corporations voluntary
associations, not requiring the of The Emperor who
was the sovereign. l am no lawyer, (said Mr.. c. and
pretend TO no more knowledge of that SCIENCE Gf il
must be calIed) than is necessary Of common
weaiii.s justices of the peace but the gentleman who
belongs TO that honorable profession knows that in Eng
land sovereignty resides in the king, lords and
mons, in parliament yet the king alone creae any
corporation aud for purposes they created
without his majesiys consent. In M ryldnd and other
States, churches for instance, may be incorpo by
rues pertaining to their respective societies. and many
other instances might be adduced of corporations
otherwise Than by the highest On u,boriy OF the
nation But LEI 1t be granted and will examine this
term sovereignty, which gentlemen TO think con-
Ia ms mystic Specification. Politically speaking, the
sovereignty OF the people, is the highest power known
our laws and constitution, and in their unconoi-
Ell right OF self government The sovereignty of State
Legislature consists, in their uncontrolled power to do
whatever the people have forbidden; " hist the So
Versigny oil Congress consists, in the exercise Of those
powers delegated 10 them by the people, uncontrolled by
any exraneous power. Within their respective spheres,
these two equally uncontrolled, and therefore equally
sovereign Gentlemen all admit the sovereignty Of tho
States and it is expressly declared, that the Constitution
OF The United States, and all laws passed under il shall
be The supreme law cf the land, anything II, The Con-
stifuton and laos of The States nofpifhsfandine
IL gentlemen can draw difference between supreme
and sovereign power, then, and only them may they deny
~
ing in its proper sphere of delegated powers But the
gentleman says the Federal Government 10 sovereign
y, but only right TO portions Of sovereignty
which the States have delegated to it, Be il so but if
those portions OF sovereignty, thus dele require
bank as necessary and proper Of giving them Ell
feet, still the right 10 create IL would also.
Gentlemen err in considering the Bank the end and
object OF the power, instead oil the of exc
cutting it. The FIRST question fhould always be- is the
object TO be attained constitutional one; then is the Bank
a necessary and proper OF enectng il? il So the
power Of creating the mere corporation follows as le
gislaive power. Congress create Bank to ef-
feet object not granted by the Constitution; nor
the States create one, TO effect any purpose withheld
from iemas 10 carry war, or issue paper money.
But told the power of creating corporations was
Intended to be withheld from Congress- because propo-
siou expressly 10 confer it rejected in The Conven-
ton. Mr.. G. here quoted the language Of disng uhed
member OF that body" What the pre- else nature or
Of this propositions what the refusing
it, is ssceained by authentic document or even
by accurate recollection AS far any such document
however that very different are given Of the i'm
port If that prop on, and Of the motives for rejecting IT,
Some affirm that twas confined opening canals and OBJ
strucons in rivers Others that IL embraced banks and
Others, that extended 10 the power OF Incorporating gene
rally Some again allege, that disagreed TO, be-
cause II was thought improper 10 vest IN Congress pow
OF creating corporations Others because Uds thought
unnecessary 10 specify the pO,Cer and inexpedient to
furnish additional topic Of objection TO the Consu
uoa In this state oil the matter, inference whatever
can be drawn from H." To have granted express
| power of creating corporations generally, might have
been inexpedient the right OF creating corporation
for any purpose and Of doing whatever has usually been
done 6y corporation, might then have been claned;
but he rejection Of the proposition by no means proves