The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-05-01
[Cenlinued from first page.l

therefore, men OF all parties, supposed ,hat
in its discretion, igbt authorize the receipt OF
bank notes. The same principle was Incorporated
INTO the bank charter Of 1916; indeed, 1t wasln me
bill which the gentleman himself reported; ana II
passed without objection from any quarter. nu'
this is not all Mr. President. let us look into the
proceedings of the session OF loIo-Io, niue
more closely. AT the commencement OF That ses-
sion Mr. Madison drew our attention 10 the state
of the currency; by which ne meant inc paper cur
reucy of the country, which was then very much
disordered as the banks had suspended specie pay
ment during the war, and had not resumed. Early
in the progress of the session, the honorable mem
Der from South Carolina moved that this part OF the
message should be referred TO select committee.
IL was so ordered. The committee was raised, and
The honorable member placed at its head. AS
chairman Of the committee, he introduced the bank
bill, explained it, defended it, and currled It tr'
umphantly through the House, having IN II the pro-
vision which have before mentioned.
But there is something more. At the same ses'
sion the gentleman introduced the bill for the inr-
Their collection of the revenue, to which nave al
ready referred, and in which bill he carried the re-
ceyeabllity of bank notes much further, and provi-
ded that notes of any bank or bankers whlch were
pay able aud paid, on demand, in specie, might DE
allowed and accepted in all payments to The Cned
States" So that the honorable gentleman hinseli
drew with his own pen, the very first legal enact
ment in the history of this Government, ny Whchit
was provided that the notes of State banks should
be considered and treated as money Mt the treasury
Sill further SIR The bill containing this provis-
ion did not pass the IIonse and as deemed some
provision necessary, indspensably necessary, for
The state Of things then exisllng, i INTRODUCED l.
think the very day after the failure OF the nom
orabIe gentleman's bill, three resolutions. Inc
two first were merely decaratory, asserting that all
duties, taxes, and imposs, ought TO be uniform,
and that the revenues of the United states ought 10
be collected and received in the legal currency, or
in Treasury notes, or the notes OF the Bank OF the
United States as by law provided. These two res
olutions l agreed to waive, as 1t was thought they
were not essential, and that they mIgl'timPiy some
degree ofcensure upon past transactions. Inc thrd
resolution was in these words
'.4nd resotUed further, That the Secretary OF the
Treasury be- and he hereby is required and dlrec-
ted to adopt such measures as he may deem II nee
essary cause, soon as may be, all taxes, duties,
debts and sums Of money accruIng or becoming pay
able to the United States, to be collected and paid
in the legal currency of the United States, Treas
ury notes, notes of the Bank OF the United states
aforesaid and that from and alter the hrst DAY OF
February next no such duties taxes, debts, or sums
of money accruing or becoming payable to the Uni
ted States aforesaid ought to be collected or re-
ceved otherwise than in the legal currency Of the
United States, Treasury notes, or the notes
ofihe Bank of the United States, as aforesaid
The Senator will perceive that, in this resolution
of mine, there no provision whatever for recolv-
ing bank notes, except Of the hank OF the United
States, according TO It's charter. Wen what nap
ened thereon? Why, sir, if you look into the Ma
tional Intelgencer ola succeeding day, you will
find it stated that Mr. Calhoun moved to amend Mr.
Webster RS resolution Shy extending its provisions to
the Of all banks which should at the time specl-
fed therein, pay their notes in specie on demand
This amendment opposed, and for time de-
fcaed but it was renewed and finally prevailed.
1t was incorporated into the resolution, became part
of the law of the land, and SO remains at this very
moment Sir, may l, not now say 10 the honora-
BILE member that ifthe constitution OF the country
has been violated by treating bank notes as money
--t'Thou art the mani!
How is it possible, sir, the gentleman could so
far forget his own agency in these most important
transactions as stand up here, the other day, and
with an air not only of confidence but of defiance,
say ; ''But take still higher ground strike at
the root of the mischief. deny the right OF tins
Government TO treat bank notes as money in its fs-
cal transactions On this great constitutional ques-
ton have never before committed myself though
not generally disposed to abstain from forming or
expressing opinions
will only add, sir, that this reception and pay
ment of bank notes las expressly recognised by the
act ofthe 18th April, 1885, by tho deposite act of
June of that year, and by the bill which passed
both Houses in 1887, but which the PRESIDENT dld
neither approve return. In all these acts, SO far
as know, the honorable member from South Cor
dina himself concurred.
So much for authority.
But now, sir, what is the principle ofconstruction
upon which the gentleman relies to sustain his doc
trine ?-s'The genius of our constitution he says,
els opposedto the assumption ofpower.' This is I'M
doubtedIy true. No one can deny it.. But he adds,
"whaever power it gives, is expressly granted"
But think, sir, this by no means follows from
the irst proposition, and cannot be maintained. 1t
is doubtless true that no power is to be assumed ;
but then powers may be inferred or necessarily I'M
Piled 1t is question of assumption, it is a
question of fair just, and reasonable inference. TO
hold that power is granted and no means author
lied, but such as are granted or authorized by
express words, would be to establish doctrine that
would put end to the Government. 1t could not
last through a single session of Congress. 1t such
opinions had prevailed in the beginning, it could
never have been put in motion, and would not have
drawn lis first breath My friend near me, from
Delaware, has gone fully and ably into this
part of the subject, that it has become quite
sessary for to pursue it. Where the constitution
confers on Congress general power, or imposes n
general duty, all other powers necessary for the ex
ercise ofthat general power and for fulfilling that
duty implied, far as there prohibition.
We act every day upon this principle, and could
not carry on the Government without its aid. I'm
der the power to coin money, we build expen.
sve min,s-fll them with oficers-punish such of
fcers for embezzlement-buy bullion and exercise
various other acts of power.
The constitution says that the judicial power of
the United States shall be vested in certain Courts.
Under this general authority not only establish
such courts, but protect their records by penalties
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