Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-09-20

traffic instead of being upheld, ought to b.
dis countenanced by the Government ant
the people.
in transferring its funds fsym place tc
place, the Government is the same foot.
ing with the private citizen, and may re.
sort to the same legal means. 1t may dc
SO through the medium of bills drawn by
itself, or purchased from others and in
these operations it may, in manner un.
doubleday constitutional and legitimate
facilitate and assist exchanges ofindividuals
founded on real transactions oftrade. The
extent to which this may be done, and the
best means Of eflecling it, are entitled to
the fullest consideration. This has been
bestowed by the Secretary of the Treas.
ury, and his views will be submitted to you
in his report.
But it was not designed by the Consti.
tuition that the Government should assume
the management of domestic or foreign
exchange. 1t is indeed authorized to reg.
ulate by law the commerce between the
States, and to provide general standard
of value, or medium of exchange, in gold
and silver but it is not its province TO aid
individuals in the transfer of their funds
otherwise than through the facilities afior.
ded by the Post office department. AS Justly
might it be called on 10 provide for the
transportation oftheir merchandise. These
are operations of trade.-They ought to
be conducted by those who are interested
in them, in the same manner that the Incl.
dental difficulties of other pursuits are en-.
countered by other classes of citizens
Such aid has not been deemed necessary in
other countries. Throughout Europe the
domestic as well as the foreign exchanges,
are carried on by private houses, often
ifnot generally, without the assistance of
banks. Yet they extend throughout dis.
tlnct sovereignties, and far exceed in a.
mount the real exchanges of the United
States. There is no reason why our own
may not be conducted in the same man.
ner with equal cheapness and safety.-Cer.
tainly this might be accomplished, fit were
favored by those most deeply interested,
and few can doubt that their own interest,
as well as the general welfare ofthe coun.
try, would be promoted by leaving such
a subject in the hands Of those TO whom it
properly belongs. A system founded on
private interest, enterprise and competition
without the aid of Legislative grants or reg.
ulations by law would rapidly prosper it
would be free from the influence ofpolitcal
agitation, and extend the same exemption
to trade itself; and it would put an end to
those complaints. of neglect, partially, injus.
tice and oppression, which are the unavoid-
able results of interference by the Govern
ment, in the proper concerns of individ-
uals. All former attempts on the part of
the Government to carry its legislation, in
this respect, further than was designed by
the Constitution, have in the end proved
injurious, and have served only to convince
the great body of the people, more and
more, of the certain dangers of blending
private interests with the operation of public
business and there is no reason to suppose
that reputation Of them now would be
more successful.
1t cannot be concealed that there exists
in our community, opinions and feelings
on this subject in direct opposition to each
other. A large portion of them, combin-
ing great intelligence, activity and inau-
ence, arc no dout sincere in their belief
that the operations of trade ought to be
assisted by such connection +; they regard
national bank as necessary for this pur-
pose, and they are disinclined to every
measure that does not tend sooner or la
ter to the establishment of such an institu-
ton. On the other hand, majority Of
the people are believed to be irreconcilably
opposed to the measure; they consider
such concentration of power dangerous
to their liberties and many Of them, regard
it as violation Of the Constitution. This
collision of opinion has, doubtless, caused
much of the embarrassment to which the
commercial transactions Of the country
have lately been exposed. Banking has
become a political topic Of the highest in.
terest, and trade has suffered in the con.
flict of parties. A speedy termination Of
this state of things, however desirable, is
scarcely to be expected. We have seen
for nearly half century, that those who
advocate national bank, by whatever mo-
tive they may be influenced, constitute 9
portion of our community too numerous tt
allow us 10 hope for an early abandonment
of their favorite plan. On the other hant
they must indeed form an erroneous estimate
of the intelligence and temper ofthe Amer
lean people, who suppose that they have
continued, on slight or insufficient ground
their preserving opposition to such an instl
tuition; or that they can be induced by pc
cuniary pressure, or by any other comb
nation of circumstances, to surrender prln
ciples they have SO long and SO inhexibl.
maintained.
Nv views of the subject are unchanged
They have been repeatedly and unreser,
eddy announced to my fellow citizens. who
with full knowledge of them, conferred uT
on me the two highest offices of the 60,
eminent. On the last Of these occasions
felt it due to the people to apprise ther
distinctly that in the event ofmy election,
would not be able to cooperate in the re re
establishment Of national bank. Il
these sentiments have now only to add tn
expression of an increased conviction, tina
the rc.establishment of such bank, IN an
form, whilst it would not accomplish III
beneficial purposes promised by its adv'
Gates, would impair tho rightful suprcmac
of the popular will; injure the characte
and diminish the influence Of our polite
system and bring once more into ext
, tence a concentrated moneyed power, no
tile to the spirit and threatening the pc