Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-02-15
MIR. WEBSI,ER'S LOGIC.

The Boston Gazette has the following ht nj Mr..
Webster's reply, to Messrs. Wright and Tallmadge,
on the subject of employing fiscal agent for the
purposes of the Federal Government. 1t is pal
pabe hit
"Mr. Wright contended, ''that the IT, s. Bank was un
constitutional" Mr.. Webster, in reply, sad the whole
along without fiscal agen and he asked to be informed
why 1t was, II we had the power employ an agent
, a"e ny another INA! we had not the power TO create
be something like Thompson's celebrated line,
g Who rules Ger fieemen, should be- free,
and Dr. Johnsons illustration OF the poets non sequitur
% Who drives fat oxon should himselfbo fat
another have not necessarily power 10 create or
constitute sherif?-or if have the DO wer to en,pIoy
horse, would ask, why have not the power to create
alt is impossible tina, Mr.. Webster could have .erious
~ made such an argument He is undoubtedly indebted
ton to the printers. %
The Boston Gazette does Mr. Webster too much
justice, in ascribng his error to that of the wise
acres The fact is, it is his seriatim opinion
we find it thus substantially reported i'm the Nat.
lnelligencer, i'll the proceedings of the Senate, of
the 31st ult.
"A bank, then, bank being admitted to be both
necessary and proper carrying the Government and
the Secretary proposing that very ground no other
to employ the State Banks, how does be make out dis.
inction already created, aud law for creating similar
agent TO be used, when created for the same
Not only has Mr.. Webster employed this arpu
ment Seriafim, but we have heard gentlemen pro-
nounce the argument Observation-Disclosures! But
do they, and did Mr.. Webster forget that it is the
power of establishing corporation and charteyinp
Bank, which constitutes the gist of the constitution
al objection? Do they forget, that among the adj
ditiona powers proposed TO be vested in the Legs-
lature of the u. States," to grant charters
oil incorporation IN cases where the public good may
require them, and the authority of single State may
be incompetent" This power, however, though re-
ferred to Committee of the Federal Convention
for consideration, was never sanctioned by the Con-
vention DO they forget that in the celebrated de-
bQt nIf tauk i'm IL,
tcu|arly opposed upon the ground, that 10 power
to establish such corporations had been conferred?-
Very different however, is il in the case of the State
Banks: The honor OF bringing forward such an
absurd argument, as this, seems to have been re-
served for Mr.. Webster. Mr.. Madison in his speech
in 1871, never thought of such thing On the
contrary, he expressly contends, that among the
other means, for supplying the uses ola u s. Bank
to the Government" was that "by the other (Sate)
Banks" The same position was maintained by ali
the Republican speeches in 1911 Mr.. Clay espe-
pecialIy in his speech (which he seems perfectly 10
have forgotten in his late revolution" of opinon,)
says:
81 will now proceed 10 show, by TACT, actual expert.
ence not tbeorec Se,soning but by the records them
seices Of The Treasury that the operations of that
ment may be as ,ceI conducted ,ofhou as ,cih mis-
bank The deusoD has consisted in the use of certain
highsoundng phrases, dexteou,ly on the
THE collection OF The revenue - be adminsi ration Of
the finances; "tbe conducting the fiscal affairs OF the Co.
vernmen"-tbe Ususual language OF the ADVOCATES of
The bank extor express assent, awe into acaues.
ceDce, without inquiry or examination into its neces.
si;y About the commencement Of this year, there ap-
pears by the report Of the Secretary of the Treasury Of
the 9TH January, 10 have been a little upwards of Two
millions Jour hundred thousand dollars IN the Tressu.
ry OF the United Sates and than one.t third
OF this whole was in the UGtdfs Of local banks
IN several instances where opportunity existed Of
techng he bank, preference has been given TO the
State Bank Or at least apoon OF the deposites has been
made WIN w. In New York, for example, there de-
posted with the Manhattan Bank $685. $40, although
prshch bank IS in that city. IN this District, $50
were deposited with The Bank OF Coumbia although here,
aso IS branch bank; End yet the State Banks are utter
" unsafe 10 he trusedl II the money after the bonds
are collected, s thus placed with these banks presume
there can be no difficulty in placing the bonds
there, they must be depo ed with some bank for coec.
ton, which deny"
"Upon the point Of responsibility, cannot s,bseyjb,
TO the opinion Of HE Secretary Of the Tfeasuv ~ IL
meant that The ability 10 pay the amount Of ami dsnosifs
tohtch The Government may make, under anu rjee1e,
is greater than that Of The State Banks That ,bs
accountability OF ramihed institution whose affairs are
managed by single head, responsible for ais members
- more simple than that OF number Of independent and
uDeopneeied establishments, shall not deny bu, will
regard IN sefy, strongly inclined TO think
The side OF the local banks The corruption misconduct
OF The parent or any Of its branches, may bankrupt OF
destroy the whole system aud the loss Of the Gov
IN that event, viii be OF the deposes made with each
whereas, IN the failure Of State Bank the loss will be
confined 10 the dcPo.e in the vaults Of that bank"
! How will Mr. Webster's argument stand in other