State journal. [volume] (Montpelier, Vt.) 1831-1836, 1836-06-21

that am not committed TO any course in
relation to the charterng of a Bank of the
United States; and that might, if so dis
posed, Join in the popular cry of denuncia-
ton against the old institution, and upon
its misconduct predicate an opposition to
the chartering Of another
shall not, however, take the course so
opposite to that which hope have follow
ed through life, but will give you my SEN
tments clearly and fully, not only with re-
gard To the future conduct of Il e Govern
ment on the subject OF a national bank, but
in relation to the operations Of that which
is now detunCt
/ was not in Congress when tue late bank
was chartered, but was a member of the
/ 18th Congress, after the first session, when
! the conduct of the bank in its incipent
measures, was examined into; and believ-
ING from the result of the investigation
/ that the charter had been violated, voted
for the judicial investigation, with view
of annuing lis charter. The resolution
! for that purpose, however, failed and
shortly after, the management of its affairs
was committed to the talents and integrity
of Mr. CheveS. From that period to its
! final dissolution, (although must confess
| am not very competent Judge of such
mattcrs0 have no idea that an institution
could have been conducted with more ab-
| ty, integrity, and public advantage, than
it has been.
Under these impressions, | agree with
General Jackson in the opinion expressed
in one of his messages to Congress, from
which | make the following extract "Ihat
"a Bank ofthe United States, competent to
all the duties Uhich may be required by the
Government, might be so organized as not
10 infringe on oar delegated pouers, or the
reversed rights Of the States, do not en-
Te9din a doubt."* But the period for re-
clartcring the old institution has passed, as
Pennsylvania has wisely taken care to ap.
proprate to herself the benefits gifts large
! capital.
The question, then, for me to answer, is,
whether under the circumstances you state,
if elected to the office of President would
sign an act TO charter another bank. | an
swer, would, if it were clearly dScertained
that the public interest in relation to the
| collection and disbursement of the revenue
would materia ly suffer without one. and
there were unequvocal manifestations of
public opinion in its favor. think, how
ever, the experiment should be fairly tried
of the Government cannot be as well car
ried on without the aid of national bank
If it is not necessary for that purpose, il
does not appear to me that one can consti-
tutionally be chartered. There is no con-
struction which can give the Constitution
which would authorize it, on the ground of
affordng facilities to commerce. The
measure, if adopted, must have for its OBJ
| ipcf the CARRYING into pffoct Ifoc ,litot;nn ot
least the exercise off, some one of the pow
ers positively granted to the General Gov
eminent. Ifothers flow from it, producing
equal or greater advantages to the nation,
so much the better, but these cannot be
made the ground of justifying a recourse
! tot it.
The exciteme. I which has been produce
ed by the Bank question, the number and
| responsibility of those who deny the right
to Congress 10 charter one, strongly recon-
mend the course above suggested.
9Th. l distinctly answer to this question,
that, in my opinion, neither House of Con-
gress can constitutonally expunge the Rec
ord of their proceedings. The power to
rescind certainly belongs to them; and is,
for every public legitimate purpose, all that
is necessary. The attempt to expunge
part of their Journal, now making in the
Senate of The United States, | am satisfied
could never have been made but in peri
cd of the highest party excitement, when
the voice of reason and generous feeling
is stified by long protracted and bitter con-
troversy.
In relation to the exercise of the veto
power by the President, there is, ] think,
an important difference in opinion between
the present chief magistrate and myself
| express this opinion with less diffidence,
because | believe mine is in strict accord
ance with those of all the previous Presi-
dents TO Gen. Jackson.
The veto power, or the control Of the
Executive over the enactment Of laws by
the legislative body, was not unknown in
the United States previously to the forma-
ton of the present Federal Constitution.
| 1t does not appear, however, TO have been
7 in much favor. The principle was to be
! found in but three of the State Consitu-
tons; and in but one of them (Massachu-
setts,) was the Executive power lodged in
J the hands of single Chief Magistrate.-
! One other State (South Carolna) had i'll
deed, not only adopted this principle, but
had given its single Executive Magistrate
an absolute negative upon the acts of the
Legislature. In all other instances it has
been qualified negative, like that of the
United States. The people of South Car
olina seem, however, not 10 have been long
pleased with this investment of power in
their Governor, and it lasted but two years;
having been adopted in 1776 and repealed
in 1878; from which time the acts of the
Legislature ofthat State have been entirely
! freed from Executive control. Since the
adoption of the Constitution of the United
States, the veto principle has been adopted
by several other states, and until very late
y, it. seemed to be rapidly growing into
favor.