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

ls the of ie decision in the case referred
u" II not, why not: No can be given, bu;Ge-
cause they are bills Of credit Fer if they not the
States nay issue Item. If these notes not bills Of
. creGi, demand To know wIa; are Give me dehni.
. ton which Will not include these. Draw form Of a
Vii! Of credit which the States may not issue. That
cttnse "i ting Constitution have meant some thing
wat manner q! thing was meant by bills q! credit 1t
tHrse age not bills Of edit? d, not th!nI that the
argument can be answc;ed IT, then thry are bills IF
cfe"! I:'s Congress power 10 ssae them Il enough
iF NJ and The chUo! Of politicians to which ECnng
t''lt me power IS not 10 lie found the Constitution
am accustomed 10 Jock there for the grant. not for tie
RIohaitton, Of powers But this is infinitely stronger
ne power vas Inserted in the Constitution and was
s'"f" o." oy me Convention, and nnder circumstances
expressly refusing the specific power Itself On the 9th
oi August The committee, which had been charged with
The duty OF preparing a Constitution submitted their
craft to the Contention IN that draft was the follow.
ing clause i7k"n verbatim from like clause IL The Ar.
S,"" at Confederation: 'Canqress Shall hrye power
- b"T0" nrn"y md Asaj; rats OF the credit Of The q
States On the !5h If hug,r, uioiyr is made 10
slTlke ont the words land emit bills of C;Cd,, and car.
red mn" states 10 two. repeat that II is enough
me- that the power is not enumerated in the CUnsliiu
tinn nor necessary (n0' conveniently any power that
is not granted
But how infinitely is this ground Strengthened -fen
the power is net only not Erund in The Constitution
adapted bn was actually proposed and inserted and al
t"rwnfaf stricken motion and debate BY an OF.
p'sIie rule of construction | demand t. know what
power 1t H. that ia not expressly prohibited that may not
be- ar"gl;"d; The constIuonaiity # bank has been
well questioned grounds infinitely less strong as
VII! proceed 10 show. proposition give Congress
power |" grant charters Of Incorporation generally.
referred 10 committee. and afterwards acted on
Inc power TO grant charter Of bank pro.
posed
Now it may with much pausitlily he said that the
Convention refused 10 give The general and dangerous
power TO grant charters independent power the
same tine believing that they had given the power 10
Charter bank inpCd power. aud ~ m aryilary
UrluipI N pf l,i III
ih" very power il specially proposed and oced The
power o gran! charters n iuso. poraor u", acted
on ny tie Conv"u:ion, and the power is now denied
"h grtat from the Dor.aciiom Of the Cunven.
ton BIT IN the Of bill; of credI, the question
distinctly acted on. the power inserted and was
stricken onl motion. Hnw infinitely strong is the
one case I:an lii" other. Why the power 10 either
case refused! There Is evidence in the case nf
bank that II was refused with intent to derry the
poser But in tie Of Treasury notes there is
Luther Martin. distinguished member nf the Conyen
u"n, iml"diis!y after ITS adjournment, "hcn 81! the
i1cia "Sre fresh ~ h:f memory. tells The Legislature Of
Mar land. that ;hc words " emit bills of credit.
stricken ont with the view at denying Tie power, end
not because 1t vas given If became necessary
AZ '"ry power. lie says ~ lis letter to he Legislature
OF Mary lnd By original articles of confederation
The Congress have power - borrow money and emit
bills on The credit of the United States ngrecahy
which was the report this systrnI made by the
Committee a" detail. When 10 ih!s part OF tte
rrp"rt motion made strike he words ITO emit
TITS ~ rT,Gu; against Ia" motion urged. HAT It
would be improper to deprive The Congress o that pow
CT; iin would b" novelty, unprecedented. to establish
government which should no, have such authority;
li2t y imp sable II look riwarG INTO iuiuy, 50
Tar as 10 decide that l happen that should
render The exercise Of *nc pJ"er absolutely
~ and that doubted. whether. # a war should take
place would be possible Ioi this country 10 defend II.
self, without having paper credit which
case there would be necessity OF becoming prey
our enemies violating the Constitution Of our Go.
y"Fn"'n' and that Considering the administration Of the
Government wo1id be principally in The hands of the
wcahy. there could be hide reason fear abuse Of
'i'@ - ,T AL -; -.-, -y27E MY T5Hriral
tvi. rather ri,a G!il the o paper EMISSION III
any possible rc'ued To t;ust !hs authority Il" 90
vc-nmfmr. 10 which thry wrre lavI'IIug III" most omit
Tci powers OF taxation. and 10 the mercy OF whch
they were Willing bnGT tr'st the liberty and proper
Is n the citizens of every State IN the Cnon aud they
erased thai clause from The system
Nuyv SIR here i lie cotsmprcaCcors testimony OF nm
,lIus,rrs member of the Convention. ,hat it in.
tended IN $40 possible emergency, that the Govern
men: should have power to male paper ehIs'o"
This statement was uncont7ldtcled nj the h"r. ana IS
as authoritative il III. debates III full were published
aud il should BE- fund that II vas PutIr al ~" SPEAKERS
on IN. subject on the gruuud that would be dangerous
to grant such power, and BY no srg'e "nr: on we
ground that the power might be cXeTFd as an lpieu
power. # such rules Of construction are adopted 10
whl, noin viii not carry u, The sum ut tie argu.
mrnt s-a power not granted. but specifically proposed
and rejected is 10 b. assumed although drmonsra6Iy
no, u,cr.sarv and would here remark, that The only
in pcrinG of war. when money could not b. borrowed
and wirn il was the only resource left not only 'hrn
convenient, but absolutely necessary to The very exist
cncs Of thu Gov, rnfrsnt.
trust that i, will not lP rnnpTGrd al least maj IL
will not by any State Rights man, tIat the power ~
prohibited 10 States but not Ia this Government ana
that therefore, il may lie oycrted: mat Inc dangerous
doctrine will fol be avowrd that this Government may
do whatever is mol prohibited BY such construction,
what NAV it not DO Is Bank prohibited: Is Internal
IMPROVEMENT. or Proecu"e Tariff: None OF them
How few powers ere prohibited: Not dozen 1t was
necessary prohibit this TO the States because,
without such prohibition. they possessed 1t II was not
necessary expressly prnhb: it to the General Govern
menr because they could not exercise It unless granted
BY the Constitution >.
Cd It is no, 50 coed currency bank paper 1t is
the currency OF revolutionary Governments. and never
has maintained par value and never will. except IN
parods Of great pressure and in small amounts 10
even now below par, when every circumstance OF me
condition Of the connyis most ansP!cons to Il and
when added its quality Of currency II has That ot stock
h.arinp interest But I'll ia said thai II IL does depecate
tie loss falls the Government not on the people
MIR Chairman. where we, and on what tltlHs nave
wr fallen? Is il in this Republican land, where The TO-
veruup nj is the trust. the mere agency ot the peo
ue that we told that the loss OF tie Government IS
not he loss of the people Suppose one hundred mn
lions in your Treasury and and demands 10! IT, ana
i: is consumed by fire. This. too suppose "ouId De
the loss of Government not ot the people no concern
Whatever 0f theirs
Sd That lis tendency 10 excess vii! be greater uan
bank currency. DO not doubt and iai 's me s'ta! we
of The banknp system. Can ihcre be more sFhin?
ror of ,b,s than the present state Of hinGs; win
an exhausted Treasury IN euaciaed and suffering peo-
Mo Ih. Government alone is unaffected by the unvef.
sal pressure and is careerng along IN COURSE OF
une xafrplsd extravcgInce fps S1 al administration
bch coma into mower with the watch. words retrsHch-
ra,n, nnd economy eernay TIER lips. proposing 10
cx,end IN the pTrsen, wear than forty millions;
Thirteen millions being the highest amount e1pencea
under the Administration which they GrhouhceI "s u'
/ ;l,a hy is estravap1uce.
al this Why, Sir for The simple reason that the more
money that is appropriated, the more Treasury notes
will be issued and tie greater the present feei 10 'he
country. No such currency ever has 'se" w.