Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1836-08-05
those of the United States.

In the spring Of 1884 had also the hon
or to preside at a meeting Of the citizens of
Hamilton county called for the purpose of
expressing their sentiments in relation 10
the removal of the public money from the
custody of the Bank by the sole authority
Of the Executive. As president of the
meeting. ! explained ut some length the
object for which it was convened, but ]
no opinion in relation to the re-,
chartering of the Bank.
A most respectful memorial to the Pres
ident in relation to the removal Of the de
posites was adopted, as were also resou-
tons in favor of recharterng the Bank
but. as have already said, this was not The
purpose for which the meeting was called,
and not one, upon which, as presiding off
Ger, | was called upon to give an opinion,
but in the event of an equal division of the
votes.
more entirely clear Of any motive either
for rechartering the old institution, or ere
ating new one under the authority of the
United States. never had single share
in the former, nor indeed in any bank, with
one exception, and that many years ogo
failed, with the loss of the entire stock.
had no inclination again to venture in that
way, even if should ever possess the
means. With the exception above men,
toned of stock in a bank long since bro.
ken, never put out a dollar at interest in
my life. My interest being entirely iden.
tilted with the cultivation of the soil, am
Immediately and personally connected with
no other.
| have made this statement to show you
that ] am not committed to any course in
relation 10 the char;ering of Bank Of the
United States; and that might, il so dis
posed, join the popular cry of denunciation
against the old institution, and upon its
misconduct predicate an opposition TO the
chartering of another.
! shall not, however, take this course so
opposite to that which | have followed
through life, bat will give you my sen.i-
mens clearly and fully not only with regard
10 the future conduct of the Government
on the subject of a national bank, but in
relation to the operations of that which is
now defunct.
/ was not in Congress when the late
bank was chartered, but was member of
the 18th Congress, after its first session,
when the conduct Of The bank in its incip-
lent measure, was examined into and be.
lieving from The result of investigation that
the charter had been violated, i voted for
the Judicial investigation. with a view of
annulling it's 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 mat
ters.) | have no idea that an institution
could have been conducted with more abil
iiy, integrity, and public advantage than
it has been.
Under these impressions, | agree with
Gen. Jackson in the opinion expressed in
one of his messages to Congress, from
which make the following extract: "7hat
"A Bank ofMe United States, competent 10 all
The duties phich may be regui, ed By the
Government, might be so organized as not
so infringe on our delegated powers, or the
'reSerred rights of the States, I do not en-
'tertain a doubt" But that period for re-
chartering the old institution has passed,
as Pennsylvania has wisely taken care to
appropriate to herself the benefits of it's
lurge capital.
The question then for me to answer, is,
whether under the circums,an ces YOU state,
If elected to The office of President, |
would sign an act to charter another bank,
! answer, would, if it were cleariy ascer
tanned that the public interest in relation to
the collection and disbursements of the
revenue would materially suffer without,
one, and there were unequivocal NANTES
Iation of public opinion in its favor. /
Ihnk, however, the experiment should be
fairly tried, to ascertain whether the finan,
cal operations of this Government cannot
be as well carried on without the aid of a
national bank, Ii is not necessary for that
purpose. it does not appear to me that one
can be constitutonally chartered. There
is no construction which | can give the
Constitution which should authorize il, on
the ground Of affording facilities to com
merce. The measure, if adopted, must
have for its object the carrying into effect
facilitating at least the exercise of some
orc Of the powers positively granted to the
General Government. lfotbers flow from
it, producing equal or greater advantages
to the nation, SO much the better; but
these cannot be made the ground for JUST.
flying recourse to 1t.
The excitement which has been produ-
ced by the Bank question, the number and
responsibility Of those who deny the right
of Congress TO charter one, strongly re-
commend the course above suggested.
5h. distinctly answer to this question,
that, IN my opinion, neither House of Con-
gress can constltutionally expunge the Re
cord of the proceed lngs of their predeces.
sors. The power to rescind certainly be.
longs to them; and is, for every public lie
gitlmate 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 a period of the
highest party excitement, when the voice
of reason and generous feeling is stifled by
long protracted and bitter controversy.
In relation to the exercise of the veto
power BY the President. there is, think,
an imnoIta nt difference in opinion between