Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-09-25

| attached 10 the union Of Government and banhs w
we'll NAV they be So Of all measures, the union .
dency to consolidation, and is, of course, the i"y ~
tile 10 the fedcrave character OF our system
did the great original leader Of the Frde'a, VI
party, Alexander Hamilton, display p'oiou.; 11rbnI,
mr. u,e,er badness than IN concentrating ms u"y
ahsnce on his responsibility, cn ~ I,t dona
ance Of law BY his Treasury order "i CO. ~ , ,ha
more TO consolidate the HoVcin'ei s,n, ihnn all
federative character Of our political system, 'n"o
oIhe, measures put together; and II 1t SHOULD otcoe
tbs established policy II would, III Inc e"u, wv, ~
draw all the powers of the system h'o 'he WV 49,, |
I:snsr,i Gorcrnmcnl Without goIrg iuliy h'o ihe
.ons of This ooinon shall present TWO views !na'
are in nv opinion conclusive ne cei,a'n e"'c' % t
uninp whether it be league OF Stale BANKS or Da"h
of the United States is to 'hI"" III. s".as
the banking system (5r far The inost powerful I,r
IN IN. comnnni,yl on the side of high duties and taxes
extravogsnt expenditures and large surpiuses anu
because the greater these the greater the roh's OF he
Banks when united WIN TIE Ho'ei"''e"t' 'n'' Wv"
separated, the less.
The r-o,ons for this obvious, and have been so
fully explained other occasions, That hey heeu nu' Y"
repeated here. Il has never, indeed been oeh'eo
conroyetted Assuming then, The fact 10 De 50, 'ne
necessary result Of the connection is to cast The "h"e
influence of the banking system, with lis ifres'so'e
we1h, on the side that aims TO enlarge the powers o!
the General Government, 10 draw within us vortex
cye1y object of expenditure and to favor the policy pest
To increase lis and Disbursements and
keep up an oyrInwing Treasury; or word IN favor
Of consoidatrnn and 0ga'nst the States
m
tainIv in the end lead TO the establishment OF great
National Bank 10 control the Stale institutions. This
the National Wing party, as they are now called
themselves clearly and have the candnr 10 acKno"
edyc They know full sell, that the State Bank sys
TEN must fail however modified. fiscal agent ni me
Government has twice failed already, and The causes
which render il incompetent are daily increasing IN
force; and is supported by the National party e1
prcssly on the ground of its ncomPeency and that IT'S
failure will lead the establishment Of National Bank
"A measure favorable 10 their principles ana p"cy
and therefore arden,ly desired by them. That such
an institution is and has been opposed oihe Stale
Rights and Republican creed, we have the high aulhoT
" Of the Virginia Report ITSELF large portion OF which
is intended to prove lis uncOnsuonnllly and danger
Gus tendency.
Blu, i, is said by some of friends, who have sePa
rated that the ndepe aud Constitutional Treasury
must fail and that its failure, would lead Ia the same
suit and that II IS that account they oppose IT, is
sucient answer 10 This To stale. that such is not The
opinion Of the great parties who support oppose
that The former, is known to be as hostile TO
National Bank, The latter is ardcny IN favor OF IT,
aud may with confidence be asserted that the zeal of
the for the and the ardour Of the other
against it, would speedily abale, if either thought il
would fail, and lead to the result supposed.
The next inquiry is. which Of the Two, conforms the
most closely the principle Of strict construction. and
rigid adherence possible 10 Tie letter OF the C"ns
tuition; On this point there can be no doubt No one
has, pretend 10 raise constitutional objection
To the separation Of Government and Banks That the
former has the right 10 collect It's dues in the legal and
constitutional currency of The county and Keep aud dis
bursp lis revenue By lis responsible officers. appoint
ed for The purpose beyOnd the possibility OF doubt
Far d,frrsD, is the Union, whether regard It with
National Bank an organized league OF State banks
Either is full of constitutional objections, aud neither
be maintained the principle OF strict ccnslruc
ton On lha, principle. where will the gh, be found
to charter National Bank Or il that difficulty did
exist where 10 constitute IT, os the agent regulate
the exchanges, and the credit 81 the community -
What power has The Constitution delegated TO the Go
aitl md bn,y surI he in
rrred but BY the b"desl construction: The banks
State Institutions created by their authority and for their
peculiar wants, and there no construction OF the Con
stGon, that wu;ild enable the General Government TO
regulate control them, that would not equally autho-
II to regulate control any other Of The d0mrslic
insi,ulions of the States including HAT in which of
the South have so deep an interest might greatly x
tend these questions, and ask, what right has the Go.
To give tic banks the public money IN The rea
sury bs loaned out used they may think proper
I'll wanted for disbursement; 10 receive the notes Of
local banks, any other medium. except the legal
rcncy. in It's dues But enough has been said To show
beyond all controversy ,hut as far as strict construction
Of the Constitution is con1 rnsd the measure we support
is decidedly conormab!e 10 State Rights, than ha,
which supported by lie friends who have separated
from
Tina, departure from system Of strict construction,
must degree lead 10 consolidation, and thai,
in turn to the overthrow of free Republican insttu
tous and the establishment Of despntic power, Is so
fully established in the celebrated Virginia report as TO
render it unnecessary 10 say more in addressing those,
who profess belong TO the old State Rights Republl
can party Of Is. | might indeed greatly enlarge on
this point here, and show that Of all unconstitutional
measures the union Of the Government and the Banks,
is the directly subversve Of Republican principles,
by destroying that equality between citizen aud citizen,
and pursu, and pursuit. which lies at the bottom Of oil
Republican Governments II clearly gives great and de
cisve advantages those engaged in banking and to
the business Of banking all other pursuits and those
engaged in them This, would doubt II the same
advantages conferred individual Suppose Tor
a. ia clt,,li
dual and contract 10 give him the exclusive advantage
of having his notes received in the dues of the Govern
rnent aud give him the OF the public money from
the time cole cied ill il disburscd; there
dull not TO see the Immense advantages II
would conitr him, compared 10 the rest Of the
muni'y-rha it would give him 10 a vast extent con.
troll over The exchanges, the credit and commerce =" The
county, and through them, over all ohrr pursuits: is
also clear that smIl,r advantage conferred
any comhnaon Of individuals, would tend but TO in.
crease the power by adding their individual influence,
10 that bestowed by the Government: And is ii not
equally clear, that the comforting ut such powers on
chartered companies Of large capital and possessed OF
important chartered rights with all the means If prompt
union, and Of action, would be but render il
still formidable, and destructive OF all equality
between them and The rest Of the comnnniiy and, Of
course destructive Of the very basis of free Repub
lcan INSTITUTIONS But all this is so clear, require
no Illustration and 20 superSede the necessity of dwell
ing iuuger on il.
As cuncisey as | have presented nv reflections, |
have said enough, trust 10 establish, beyond all
lroversy, that if there has been any departure from the
principles OF the party no advocate the separation
of the Government and Banks cannot be charged with
il. Our friends, who have separated from u.s. may think
that the measure support is mex pcdent nconveni.
eni, weak impracticabc; but do think, that
view they must concede to strict adherence al least
TO the old land marks Of the party This is strong pn-
sl,ion to occupy When reflect now much depends
maintaining the Federal character Of our system, how
much rigid adherence 10 the Constitution, and
successful constellation and all attempts
destroy that Republican eCualy which prl,!e
of institutions, may well bear many such nhjec
Iions to measure, even If well founded; for what
these comparison 10 the maintenance Of great unda-
mental principles The kind of objections might
in fnrI hi, inst LIZ