The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-03-23

gems apprehend from that institution. as
a present organized. In the spirit Of
improvement and compromise which dis
iinguishes our country and lis institutions.
q becomes Us 10 inquire whether il be
not possible 10 secure the advantages az
fnrded by The present bank. through the
agency ri Bank Of The United States.
81 modified IN its principles as 10 obvi-
ale constitutional and other objections.
I'll is thought practicable 10 organize
such bank, with The necessary officers,
as branch Of the Treasury Department.
based on The public and individual de-
Pnsites. without power TO make loans or
purchase properly. which shall remit
the funds Of The Government. and the ex-
pense Of which NAV be paid. IL thought
advisable, by allowing lis officers ~ sell
bills Of exchange, TO private individuals,
al moderate premium. Nor being a
corporate body, having no stockholders.
debtors and properly, and but few OFF,
GERS, il would not be obnoxious TO the
constitutional objections which are urged
against the present bank; and having no
means 20 operate on the hopes, fears, or
interests Of large masses &c The cnmmu-
nily. IL would be shurn of the influence
which makes The bank formidable"
| In This message. President Jackson. az
ter again adverling 10 The imaginary dan
gers Of Bank of the United States. re-
ours 10 his siavorile project. and inquiries
whether il be no, possible TO secure the
advantages afforded by the present bank,
through the agency OF Bank Of The Uni
ted States. SO modified in It's principles
and structure as 10 obyiale the consIilu-
ti0nai and other objections. And 10 dis
pei all doubts OF The limid, and To con-
iirm the watering. he declares thai il is
thought practicable 10 organize such a
bank, with the necessary officers. as a
branch Of The Treasury Department. As
branch of the Treasury Department!
The very scheme now under cnnsidera.
tioa. And II deiray the expenses of such
an anomalous insulation, he suggests that
the officers of the Treasury Department,
may iafu bankers and brokers. and sell
bills Of exchange TO private individuals a,
moderate premium!
! In his annual message of the year 1881,
upon this subj ct, he vas brief and some
| what covered IN his expressions. But
the fixed purpose whch he entertained is
sufficiently disclosed tn the attentive read
er. lie alnadnces that, " entertaining
The opinions heretofore expressed IN re-
lalion To the Bank of the United STATES,
as al present orglnIz"d, | Eel, u ny duty
in nv former messages, frankly 10 dis
close them, IN order that the attention n
the legislature and the people should be
seasonably directed to that important sub.
iecl. and that Il might he considered, aud
finally disposed Of. IN manner best caI-
culaied 10 promote the ends OF the con-
| sutuiion, and subssrve the pubic inie-
rests" What we're the opinions here
tofore' expressed, we have clearly seen.
They were adverse to the Bank OF the
United States. as al present organized,
that is to say, an organization with any
independent corporate govern nent: AMI
in favor &c national bank which should
be so constituted as 10 be subject tn ex-
elusive executive contro!.
At the Session Of 1891, 80, the ques-
ton Of the recharter Of ths Bank Of the
4 United States came up; aud although the
attention of Congress and The country had
ben repeatedly and deliberately before
invited In the consideration Of il by Pre-.
sident Jackson himself, The agitation Of Il
was now declared by him and his parli.
sans tn he prerlpI,a,e and premature.
Nevertheless. the country and Congress,
conscious nf the value of a safe aud sound
uniform Currency, Conscious that such a
currency had been emlnenllv supplied by
the Bank OF The United States, and un'
moved by all the ouIcry raised against
that admirable institution, the recharlel
commanded large msjorIues in both
houses Of Congress Fatally for the in
terests Of thus county, the stern seli.wil
Of General Jackson prompted him to risk
| every thing upon its overthrow.
Il On the 10th Of july. 1882. the bill was
, returned with his veto: tom which the
following extract is submitted for the at
, | tentive consideration OF the Senate; A
Bank Of the United States is. in many
I respects. convenient for the government
aud useful to the people. Entertaining
this opinion. and deeply impressed with
, the belief that some Of the powers anC
privileges possessed by the existing banh
! are unauthorized BY the constitution. sub
versive of the rights Of the states, ant
, dangerous to the liberties of the people
| fell it my duty, at az early period Of my
administration. to call the attention Of Con
gress to the practicabiity Of organizing ar
institution combining all its advantages,
and obvia,ing all these objections. sin,
cerely regret that, in the act before me,
can perceive none Of those notifications