The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-04-13

m3nA
Mr.. Clay continued. I have given
way ones lor IN explanation; Ishsll per-
NIT no cher interruption. ! did not IN
lsrfere with The Senator from South Ca
rolina during the delivery Of his Speech
and he gill have ample opportunity 10
reply when | hare done.
Sir. me Senator from South Carolina
habilually complains Of omissions and
MISREPRESENTATION Of his speeches when
ever bis argument happens 10 be Feluied.
Now. I clearly understood him, and !
think 80 did The whole Senate, 10 assert.
in The outset Of his farmer speech. that
there VAS bui single alternative, The bill
or the substitute. Add supposed hls
object 10 be 10 drive nv friends and nv
self IN the acceptance az one or the nIh-
er branch of IL. By way Of excluding
any other course. he assumed that we
had abandoned all thought IL establishing
Bank Of the United States. Since |
have shawn that there was anoIhereourse.
which Is. ta do nothing. Ear preferable TO
the bill, the Senator SAYS that u was ye-
" obvious.
Another allegation Of the Senator Is,
that ] have misrePreseaIed HIN with re-
spect Ia the power Il the general gavera-
menG 90 conirsc. with state banks. II
seems that he did not intend TO assert
broadly that there existed an inability ON
The parI oil this government 10 make any
such contract whatever. but il il the parIi-
cullE caniraci contained IN the substitute
which. he ihinks. Cannot be constitution
ally made. The contract proposed in the
bill with the state banks. beng approved
by The Sensinr. is all perfectly cOnstilu
Iional and right, The Senator goes for
his own thunder. and against that Of eve
~ body else. There was YET another
contracl with the state banks which had
commanded The cordial APPRECIATION Of The
Senator. and lhsi is contained in The de-
posile act Of 1895 think, Mr.. presi-
dent. il. will he difficult for the ingenuity
even nf The Senator from South Carolina
10 msinlain competency 10 make those
two contracts. and an inability 10 author
Use tina, which is provided Tor in The sub
siilute.
| am also sccrsed OF misrepreseniing
the Senator in respect 10 The reception Of
redeemable hank notes for the term Of six
wears, as provided for IN the bill. lie
thinks il entirely constitutional % make
such a limited arrangement. whilst il,
would be, IN his opinion. wholly inad-
mIsslbe to con:irfne loT an indefinite tine
In receive such noIes. The complaint Of
the Senator IL, that did not state the cir
cumsIanres. conditions, aud qualifications
under which he proposes his temporary
reception Of bank notes. | de- not think,
Mr.. President, that thew can vary, IN The
smallest degree, he question: Of p"wer.
Ii, a. commended fnr by the Senator. the
constitution, prohibits the reception ol
bank nn,es in dues IN the government.
the Prohibition extends as we'll To a Term
Of SIX years as To any indefinite time.
The Senator seems 10 me I'D have so ne
peculiar constitutional notions. The III
strument in his hands is perfectly fexi-
hle and perpetualiv varying. He con.
POUNDS expedIeucy aud constiiuImnalily,
and blends them so together, that il IS oll.
icult to discum, tate tue one from lie
other. He argues that we are 50 ron.
nected with The banks tia, Se must Ease
J oG gradually. anil noi suddenly discounts
nue. the use OF their paper. -.
INV, sir. if nv memory serves me
the Senator commenced his speech at tit
extra session by announcing that tlIef,
was total rupture between The govern
men, and the banks by the Suspension o
specie payments. The disconuesion stil
exists in fact and IN law. The bill
which the Senat r 50 warmly espouses
makes 4 contingent revival oft. In 1916
also. the come x,on had altogether cease
in poin. If Law. Then the Senator pro
posed Bank OF the Uniied States. Ii
both cases, If understand him. he pro
ceeds on the ground Of practical inconve
nience. Now, sir, cannot for my Itfi
concur in making The constitution thi
nose If wax. Ii does or does mol author
Ize Bank Of The United States. Il doe
or does mot auIhorlse the reception of tn
notes Of local banks. Ii the defect uf au
thorry for one or The other exists, il .ap
plies to all times. and under al cIrcnm
stances. No considerations Of ulllity o
present convenience can possibly pul il
the constitution power which we do no
end there. The doctrine Of the Senate
IN 1916 was. as he now states IL, tina
bank mates being IN TACT received by u,
Executive. although contrary 10 law,
was constitutional TO create Bank of TN
United States. And IN 1894. indng tia
bank which was constitutional 10 its in
ception. bu. bad become unconslItutlona
in It's progress, yet 10 existence. II wa
quite constitutional 10 propose, as the Sc
major did, TO continue il twelve years lon
ger! That is, il is moi unconslitu,Iona
10 probing the existence Of an uncons ii
] fsaNF al n, n. a ~ n