Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-10-15

solemn adjudication in the name of the people OF
South Carolina, by her iqhtfhl Representatives ron
additionally empowered To act the specific ami.
ect before them. South Carolina then has solemn
y adjudgcd thaf Congress Is constotionailv vest
cd with the right To incorporate bank" and thu,
ut would be unwise and mpolic 10 restrict lis on
ernl'ons within such narrow limits the District Of
Columbia /, in other words that Cong ress il con
sn'nt'on'lly vested with the right To incorporate
National bank"--and this decision of her Lecisls.
lure mas heen repeatedly confirmed by her Judicial
~. Ibis adjudication of South Carolina we hold
10 he revocable-she was Jecjdinp wje,ber .ba
had not yielded certain right the general govern.
ment--her decision was that she had welded tbe
fieh ana her testimony against herself the gran
tor can never be annullcd ,etractcd U,s,o,y b,s
set lis rtevocnhe seal upon the deed and the gran
tee can never be denied its benefit. Nor should
we repinc nj being held to our own construction ~
our own bargain. A National Bank was moi only
held CONSTITUTIONAL bur was utmost universally non.
nnr IN our Stnle. until NullGcal,on moved her IRON,
her constitutional propriety. The cloud has now
passed from her horizon, and there is nothing to
prevent ny iroin again baskDg in The sunshine OF
our first love.
Although we regard the constituiionalify of =
National Bank Ms jadioaia both ~ rcspeets the
General Government aud our State We vet have M.
objection 10 say mo,d or Two on II as an original
question The objection urged against il is merely
negative one founded on the re lection By the con
senion, which formed the constitution of proposi.
ton TO confer on Congress the general power to
grant charters of INCORPORATION. There was not even
the rejection of specific proposition 10 confer the
right OF charcrng National Bank. general
power OF incorporation may have been deemed oh.
lrciionablc. while specific power Of incorporang "A
bank, asa fiscal agent ot the government, may not
only have been regarded MS unexceptionbe but nv al
ready sufficiently provided for. whenever the etncr.
eency might demand its exercise, IS incdrntato
one or more granted powers. We havs a striking
" analogous case 10 quote. On the ng,l, of Nav
e.. bnl ftpIt he al oI An
sutution. with this clause" Congress shall have
power borrow money, and emit bHson ire crsdii Of
The u, s." On the 10Th Of August 1897. this clauso
came up Tor consideration. aud on a motion 10 strike
out the words :" and eni, bills" the vote hy States
stood. yeas g. nays 2.-and the wnnls wcr. never 70.
stored. II II be unconstitutional 10 chatter Ma.
uonal Bank bcoa the convenlicn refused 10 invest
Congress with the general power Of granting char
iers Of Incorporation, |1rtiori that body debarrcd
the right OF emitting bills OF credit. by the exprsss
rejection ola proposition to confer thai specific powcr
But Nh. Calhoun and his school are advocates Of
bills of credit now issued by Congress in the
shape OF Treasury notes. and ho - optn'y in favor
OF Government paper currency, and of "emitinp
bills on the credit Of the United States" 10 the A.
mount of" many millions beyond tho demands of
the Go!cfnmcnt" For him and his Disciples then,
TO object to National Bank such a score is man
ilestly 10 strain NJ II enat and swallow n camel,
There Is obviously more reason to argue tie ncon.
suutonahly OF treasury notes other Government
paper 10 serve as "A currency than ofa National Bank
nom The action oi the ConveniIOp and the ara uni.nt
lnthc former case may perhaps derive some strength
from the express constitutional restriction on tho
several States against emitting bills of credit or
making any thing bat gold OF silver legal tender
in payment OF debts. But we ate willing to waive
tins vantage ground aud concede that the Constr
'h'on contains no express prohibition against emit
ting bills Of Of credit, chaterne NntrNalB Bank.
and we are willing 10 give MI Calhoun his tteasurv
notes, ard Government paper curcne Y too If hr c,n
shew them TO be means necessary and protcr IA,
carry into effect any OF the powers expressly granted
to tue General Government. provided he will yield
us our National Bank on like terms. The refusal
OF the Convention to grant any power expressly and
specifically to the General Government does moi
exclude It's existence AS an implied incidental pow
en- necessary ana proper 10 carry into effect the
grated powers. The Convention refused to invest
Congress with the general power 10 charter cor
porauons-t may even have refused to grant IN,
power TO charter National Bank (which however,
dad not do1-n either case that may exist as an i'm
piled or incidental power, which denied as a sub
stant.e power Thus the substantive power 10
charter n National Bank rs a mere nonicd ins,ilu-
ton unconncctcd wuh the Government, ~ clearly
not within the competency OF Congress bee ause not
expressly granted, but coHStat that there is not
full right IN inat body to charter National Bank "A
the fiscal agent of tho Government. The pranted
powers 40 borrow oncy, ""olay and collcci axes
duties and mposts" ITO pay the debts OF the United
States, aud "lo CON money and regulate tho va
lue thereof" all ends FOR The promotion or car.
rying into effect OF which the charter Of a National,
Bank may be necessary and proper and therefore
unconstitutional Dienns.
From the Mlledg cUtte Journal
We hear great deal OF the proposed divorce Of
the Executive and moned power. Now if by airorcs.
these asiule politicians mean dSepdration under
stand tho phrase. The action aud profession do
MT square with each other The President posse.-
ses The EfrcW're potoGr, no one Will deny. They
propose 10 invest the President with the power To
appoint to all The Offices which they desipnto
create, 10 receive and keep the public revenue. Ii
he dismiss from office the man who can dismiss
,hem from Office he control the revenue. The
Secretary Of the Treasury be invested with dis
cfeiionary authority to increase the bonds required
rs secunly OF the collectors OF the revenue. Tho
President can dismiss irom office the Secretary of
the Treasury. Gen. jackson dismissed Mr.. Duane
because he would not do unconstitutional act
Now let MS take a familiar Our friend and