Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-06-02

both Houses were of a different opinion,
President Washington sanctioned the
measure and, among those who doubted,
those Of most weight aud consideration in
the country, and whose opinions were en'i |
tied to the highest degree of respect, yield, |
ed to the opinion Of Congress and the |
country, and considered it a settled guess
ton. Among those who first doubt ed Of
the power of the Government was one
whose name should never be mentioned |
without respect aud vcncration, one for
whom can say feel as high vcncraton |
as one man can or ought to feel for another, !
one who was intimately associated with all |
the features Of the Constitution, Mr.. Madi |
son yet, when Congress had decided on
The measure. by large mniorl,ies, when the
President had approved i, when the Judi
cial tribunals had sanctioned it, when pub
lie opinion had deliberately and decidedly
confined it, he looked on the subject as
definitely and finally settled, The reason
crs of our day think otherwise No dcc
sion, no public sanction, no Judgment of
the tribunals is allowed to weigh against
their own respect for their own opinions.
They rush 10 the argument as TO that OF n
new question, desplsng all but that Of
Of the venerable living and of the mighty
dead. They posc this Important question
upon some small points of their own sen-
der logic, and decide it on the strength of
their own unint eligible metaphysics. 1t
never enters into all their thoughts that
this is a question to be judged of on broad
comprehensive. and pracl,ca grou lds. still
less does it occur TO them that an eXposl
ton of the Constitution, contcmporaneou-
with its earliest existence, acted on for
nearly half century. in which he orig
nal trainers and government officers OF the
highest note concurrcd, ought to have any
| weight in their decision, or inspire them
with The least doubt Of the accuracy and
soundness of their own opinions. They
soar 50 high in the regions of self-respect
as 10 be far beyond The reach of all such
considerations,
For sound views upon the subject of
| national bank, would commend you, gen
! tIemen, to the messages Of Mr.. Madison,
aud to his letter on the subject. They are
! the views Of a truly great lnan and states
man.
As the first Bank of the United States
! had its origin III necessity, 50 bad the
second and, although there was something
Of misfortune, and certainly something OF
Encouragement in its early career, no
candid and intelligent man can for a mo-
mcnt doubt or deny its usefulness or that
it fully accomplished The object for which
1t was created. Exchanges, during all ;he
later years Of its existence, were easily
effected, and currency the most uniform
Of any in the world existed throughout he
p -, II
tons did not deny that general prosperity
and happy state Of things existed al the
time they were IN operation, but contended
that equal prosperity would exist without
tn m, while specie would take the place OF
their issues as a circulating medium. How
have their words been verified. Both in
the case of the first bank and that Of the
last. general suspension Of specie pay
ments has Happened in obout a gear from
The time they acere SuOered 10 expire, aud t
, universal confusion and dlstrust prevailed
The first bank expired in 1911, and all The
State banks south of New England stoppe,
payment in 1912. the charter of the late
bank expired in March, 1886, and in May
Y 1887, a like distrust, and like suspension
by the state banks, takes place.
? The same results, we may readily sup
pose, are attributable to the same causes
and we must look to the experience AM
: wisdom of the People aud of Congress, t.
apply the requisite remedy. ! viii not ga,
g the only remedy is National Bank, bot
. VIII say that, III my oplnloh, the only sur
remedy for the evils that now prey upo
= US is the assumption, by the delegates q
>, the People in the National Government
Of some lawful control over the finance
of the nation, and a power Of regulating
, It's currency.
, Gentlemen, allow me again to expires
: my thanks for the kindness YOU have show
= me tins day, aud, III conclusion, to asSnr
4 you that, though n representative 10 tn
>, Federal Government OF but IA small section
, when compared with The vast territory lha
= acknowledges allegiance to thAt Govern
ment, shall never forget that am actin!
, tor The veal or wo Of the whole country
\ and, so far as am capable, Will p'edg
a myself Impart ally to use every eXertlol
for that country's welfare.