Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05


rs he Correctness 0f the decision in the referred
to II no why not: No answer be given, buthe
cause they bills of credit Fer if they not the
States may issue them If these notes not bills Of
. creGt demand tn know wlIa; are: Give me tehn
i!"H which Will not include these. Draw form n 4
bill Of crcdi! which The States may not issue. That
clause Of the Constitution must har meant something
what manner n! thing was meant by hlsis q! credit ii
these are not bills Of credit? d, no, think That The
Argument be ansse;ed IT. Then tlry are bills of
c!eGi! l:fs Congress power issae Them Il is enough
inF NE and the school Of politicians which Belong,
mat The power is NJ" 10 be found IN the Constitution
am accustomed 10 Jock there for the grant not for TIE
prohibition, Of powers But thus case is infinitely stronger.
me rG~ef vas Inserted in the Constitution, and was
stricken 81" by the Convention and circumstances
expressly re Gsng the specific powrr Itself On the 9th
oi August The committee, which had been charged with
The duty OF preparing Constitution submitted their
drait to the Convention in that draft was the follow.
ag clause l0krn verbatim from like clause 10 the Ar
1tcs u Confederation: 'Cnngress shall have power
- b"ro" money and emit iES on the credit of the u
/ States. On The i6h 81 hug'vt uin,inn is made 10
slTIke ont the words land emit bills of c5,,, and car.
Ted nine STATES 10 two. repeat that 1t is enough Tor
me- that The power IS m; enumerated in the CUnstilu
ton nor necessary mot conveniently any power that
is not granted
But how infinitely is this ground slrengthened when
the power is net only not found in The Constitution
adopted bg actually proposed and imse ted and al
tr1wnfcf stricken ont on molten and debate BY op
p'Ste rule OF construction ! demand T. know what
power it, that ia not expressly prohibited that may not
br nrroga;"d The constiiuuaaiity D bank has been
well questioned grounds infinitely less strong as
will proceed 10 show. proposition to give Congress
pawrr tn gran; charters Of Incorporation generally
referred 10 committee and never afterwards acted
Tn" power TO grant charlie. Of bank never pro.
posed
Now it may with much FEASIBILITY he said ,ha, the
Convention refused 10 give tie general and dangerous
power 10 gran; charters independent power at the
sane tim" believing that they had given the power
charter hank as an implied power. and auxiliary
10 cd tItIi ,I II. Of ~,
tn" very power il specially proposed and "csd The
power /" grant charters n incorporation acted
on by tie Convention, ard the power is uuw denied
"ih grrat from The n0n.aciinu ci the Conven
ton But in the Of bill; of credi, the Question
distinctly acted on, the power inserted and
stricken on on motion. How infinitely stronger is the
one case lan lilo other. Why the power N either
case refused? There is evidence in the Of
bank, that il refused with intent 10 deny the
pomCr But in tie Of Treasury note; there is
Luther Martin. distinguished member nj The Conven
u"n imtnedl'ely Gier lis adjournment. hen all the
facts wge fresh III bis memory tells Ike Legislature Of
Maryland that ;hc words - emit bills Of credit
stricken out with the view Of denying tic power, and
not bfcause given, If it becamc necessary
'ilary power lie says ~ his letter The Legislature
{" harl !nnd "By our original articles O" confederation
III" Congress have power ~ hOrrUw money and emit
bills on the credit cf the United States aGreeahly
which was the report On this system made by the
committee Of Gria When Ia ihis part n the
report, molten made strike oct he words 't0 emit
tits !t ry,Gu; against the motion urged, That It
would be improper deprive The Congress Of that pow.
err that II would b. novelty, unprecedented. 10 esab sh
4 government which should not have such authority;
t!at u Impossible 10 look pf ward futurily
Tar ~ /" decide that events T.:s not happen that should
render III" of such pJwnr absolutely
r., aud that doubted. whe,h # war should take
place, II would be possible io this country 10 defend IT,
self without having recourse paper credit, in which
case there would be necessity ui becoming prey 10
enemies, Violating the Constitution Of our Go.
v"Tnn'n and that considering the administration Of the
Government would BE- principally in the hands Of the
wealthy, there could be Hide fear abuse of
H. - VT 1T TrfT7rr- MY r5tsr
eva sa.tI-r th;a adult The idea OF paper emission III
auy possible case refused to Trust !h;s authority to 1o'
vc-nmsu 10 which they we're av'hng III" most un'i'
miicd powers OF axa;ion and to the mercy OF which
they were w.n. bIrndiy 10 rns the liberty and proper
Is az the citizens of State N the Union; ana tey
Erased that CLAUSE from The system
Now SIR he7e * The cotsrporaGrors testimony oi an
Iustrrus rlr:brr of the Cunven'nn that il was in
tended in .no possible emergency" that tine Govern.
meg: should haze power 10 male paper cmsS'oh -
This statement uncontrolled rl the tine ana IS
rs authoritative il thu debates III iuIl were rnhse'
and il should be found that IL b. all ID" speakers
on the subject the ground ha, Ii would be dangerous
10 Grant such power. and by no single "mt, on lie
ground tina, the power mgt BE- c1eF'Sd as an inHiea
power. # such rules n construction ale ad"p'eu, 10
what pomt will it not carry U.s. The sum. ni The hrgu,
mnnl is-a power not granted but spechca!y propose"
and rejected b. assumed, although Gemnrs'racly
no, necessary; and would here remark that The only
instances in hic il has heretofore been exercised, was
in period Of war when money could not be borrowed,
and wien it was the only resource left; not only HEN
convenient bat absolutely necessary 10 The very exist
cnce Of the Gov rnmrnt , E.
trust that j, will ma, lp rontrrdcd. al least that II
will not by any State Rights man, that the power Is
prohibited States but not 10 th+ Government ana
Ina, therefore, il may he rycrPd lhat Inc dangerous
doctrine will tot be ayowrd. that this Government may
do whatever is not prohibited: Ey such construction,
what NAV il not do Is Bank prohibited; Is intprhh'
How few powers are prohibited: Not dozen 1t was
necessary prohibit this power to the States because
withou; such prohibition, they possessed IL was not
necessary Expressly prohibit to the General Govern
mont becanse they could exercise it unless granted
bv The Constitution. r..
2d II is not 50 good currency bank paper. 1t is
the currency Of revolutionary Governments and never
has maintained par value, and never VIII! except III
nor;ods or rrea, pressure and in small amounts 1t 10
eyen now below par when every circumstance OF the
condition of the countryIs most ausp!cIons 10 IL ana
when added its quality nj currency mas mat oi STOCK
b-ornp interest But said that 1t II does uePFeciae,
10 ,ss rn,ls on the Government not on the people
MIR Chairman. where We and On what uiiifs nave
wc fallen: Is il in This Republican land, where Inc TO-
ynrumrnt is the mere trust the mere agency OF 'he Pe
nI that we are told that the mss Of the Government IS
nol The loss Of The people, Suppose one hundred MI
Inns in your Treasury and and demands lot ana
!; 10 consumed by fire. This, too, suppose, would be
the loss of Government, not OF The people, no coce''
! Whatever 81 theirs go, 49,,
"a That its tendency 10 excess will be greater than
bank currency DO not doubt and that the great wee
If ,Io b,nkinG system Can there be a more STRIKING
nroof Of this than the present state OF lhings: WIN
an exhausted Treasury, cmaciated ana suffering Pe'
i tho Governmep. alone is unaffected by the univer-
s, nrcssup and is seen careerng along in course OF
unexanped extravaganza leH, Sir, a" administration
which came into power with the watch, rerenen
usat and economy eernaIIy on tier Fps proposing 10
va,J in the oTrsnnt wear more than forty millions
Thirteen millions being the highest amount expended
rnder the Administration which they denounced as ruin
inc the cun,ry by its extravaganza How, and why IS
all this Why, Sir, for The simple reason .a. .ne n"e
MONEY lha, is appropriated, The more Treasury notes
viii BE- issued, and the greater the present relief to the
,,rr No such currency eve. has been resorsed To-