Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1838-08-10

I the duty of Congress, either as one form
of the exercise of the Commercial Power
or as o necessary inference from the Coin
ing Power.
All will remember that the very first
complaint of Gen Jackson against the late
Bank of the L. States was this, that il had
disappointed The expectation of the people
in not furnishing to the nation sound and
uniform currency. In that doctrine there
were. indeed, many who did not agree
with him; but it was expressly on this
ground that he undertook this grand re form
of the currency-whch manv think was
very sorry reform indeed. He said that
the currency was not so sound and so uni
form as it was the duty of the Govern
ment TO make It and he therefore attempt
ed to give US currency more sound and
more uniform.
The depostes were removed in '33, and
the policy of employing the State Banks
Us the Repositories was adopted, and that
experiment has been proved. 1t was then
said that better and safer currency would
be provided for the country. He referred
to this but 10 say that down TO '87, The duty
|of furnishing q currency, an actual cur.
rency for commerce, had been considered The
undoubted duty Of Congress as much so as
The duty Of making ,Oar or. foreign treaties
This removal of the depostes had led to
the suspension of specie payments by the
banks and since then q neW reading of the
Constitution had been adopted. No such
duty could be found. 1t has been scanned
by candle light, and it is not there. This
{ plain duty, which no man to 81 has ques-
, toned. vanshes at once, and the new
} commentators cant find it.
A new Administration came into power
pledged to follow in The footsteps of its
predecessor; but there was one footstep too
big for him to put his foot ina stride too
long for him TO take. This is q serious
fact, for in that, which / may call, fatal
message, to the last session of Congress,
there was the announcement Of a dlsavowal
Of all power in the General Government
under the authority Of the Constitution
. to regulate the commerce or the currency.
: The message Of 1887 disavows all power
5 on the part of the government upon these
sub ects; and that may do no Unjust ice
n to the President will repeat the words.
The President says, "from a want OF
o Constitutional power, refrain from recon.
8 mending any plan for the regulation Of the
e currency. for the relief of the commerce o
e the country" Any plan to regulate the
G foreign and domestic commerce Of The
e country, it is not, he says, in the power o
8 the Government to adopt. Yet it is writ
e ten in the Constitution that Congress has
. power over both foreign and domestic com
{ merce.
8 What was the necessity for this avowal
e 1t was not the crisis of the country, bu
$ it was the crisis of party. The admins
5 tration preceding the present. had rejected
f the United States Bank, and had set VI
= the question, that the Bank was unconst j.
Il tutional. This idea they had set up al
t over the country. have nothing to sa,
IS for the wisdom or modesty of men, WIN
II after the Legislative decisions and judicia
G enactments Of half a century, choose TO sc
D up their private judgment against the gen
e eral confirmed opinion Of The country.
}. No sooner had the State Banks suspcn
" ded, and among them those that were depos
10 tories of the Government, than the Admin
ID lstration raised the cry of treachery, war
" of faith, pertidy-a cry as false in my opir
ion. as the cry raised short time befor
by the same party, that they were SAT
and could commit no error.
10 But, whether the suspension was right
y, fully made or not, the administration seem
~ themselves shut out from the use of Bank
as finding that the experiment had failed
ht and being incapable (for it is in The powt
er only of great minds Of going back-bein
IL, like man floating in current ready
"A n Co
1t piece of floating tlmber-lhey were read
lis for anything rather than the Bank. 1t W,
=, plain that they would do precisely VIII
:. they have done. Seeing that they he'd d
''r priued Themselves ofthe po,oer TO control h
'st currency, they said they could not find it. =
1t was natural that they should do precise
!, ly what they dId, and by saying that the
"' had not the po,oer, relieve themselves fro
OF the duty of exercising it. They have d
at prlved themselves OF the cons ttution
,v means of performing their duty, and tr
', to avoid the responsibility, but the Peep
Ell forced that duty upon them, and called upc
"a them to execute it. cannot but remer
Der the tabled Grant Of antiquity, upc
ay whom, while tearing asunder the oak, I,
~. strong fiores reacted and caught him in t
as. cleft.
lrd We are not SAT, moment after we 10
he sight of the great principle that the Go
Ter eminent must regulate the currency,
of that power is surrounded, to whom sht
he it be given? TO The States? TO all t
he Banks? To the whole people? N
Gentlemen, suffering that principle to
all surrendered, is abandoning the vessel
lay State to be horne along, without hel
w. down the current, in the midst of dang
a and darkness. As have said, whelh
,r; the Sub Treasury be for the receipt
all money, or for the issuing of Treasury Not
rty all Is Tor the purpose of relieving the Go