Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-03-22

Positories Of tho public revenue, and o
havlng their notes received aud treated a
gold and silver in the duties of the Govern
Inent and in nll its fiscal transactions 2
Have we the right to do all this in order &c
bestow confidence in the banks, with the
view to enable them to resume specie pay.
mentsl What is the state Of the case?-
The banks are deeply indebted TO the coun-
try, and arc unable 10 pay; and We are
asked TO give them these advantages, in or
der 10 enable them to pay their debts. Can
we grant the boon? In answering this i'm
portant question, begin with tho fact, that
our Government is one of limited powcrs.-z
1t can exercise no right but what is spccii-
cally granted; nor pass any law, bu, what
Is necessary and proper to carry such pow
or into effect. This small pamphlet (lold-
ing II up) contains the Constitution. Its
grants ofpowcr arc few and plain; and
ask gentlemen TO turn TO it, and point out
the power, that authorises us to do what is
proposed To he done, or to show that,to pass
this substitute, is necessary to carry any of
the granted powers into effect. Jfneither
can be shown. what is proposed, cannot hc
c"ns'itutionally done; and till it is spccii-
caily pointed out, am warranted in bclicv-
ing that is cannot bc shown.
Our reason is Often confouhIcd by n
mere name. An act, in the minds of many
may become Of doubtful constitutional au
thority, when applied 10 n hank, which
none would, for moment hesitate 10 pro-
nouncc grossly unconstitutional, when an
piled 10 an individual. To free ourselves
from these illusions, / ask, could the Gov
crnmcnt conslituti0nally bcsiow on indvid.
llais, or a private association, the advanta-
gcs proposed to DC bestowed on the selected
banks, in order 10 enable them 10 pay their
debts. Is there one who hears me, who
would venture to say, yes, even in the case
OF the most extensive mere hant or mercal-
tilc concern. s,Ich as some Of those in New
York. or New Orleans. at the late suspcn-
sion, whose cmbarrassments involve entire
sections in distress! But. If not, on what
principle can discrimination be made i'm
favour of the banks ! They arc local
institutions. created by the State for local
purposes, composed. like private associa-
lions, Of individual citizens, on whom the
acts Of the States cannot confer n particle
Of constitutional rights under this Cnns,i-
tuition, thnt does not belong TO the hum
blcst citizen. So far from it, if there he a
dlt'qtfrhhiobSnc lGitGUr from Inc control 6filns
Government than the Individual citizens.
who, by the Constitution, are expressly
subjected To the direct action of this Gov
rnment in many instances; while the Stntc
banks. rs constituting portion of the do
mcstic institutions of the States, and rest
ing on their reserved rights. are entirely be-
yond our control, so much so, Us not 10 be
the subject OF q bankrupt law, although the
authority TO pass one is expressly granted
by the Constitution. ="
On what possible ground, then, can the
right in question be placed, unless indeed,
on the broad principle that these local in
stitnions, intended for state purposes, have
been SO extended and so connected them
selves with the general circulation and bu-
sIncss OF the country. as to affect the inter-
est OF tho whole country, SO as to make it
the right and duty of Congress to regulate
, them, or, in short, on tho broad principle
Of the general welfare? There is none
other, that can conceive; but this would
he to adopt the old and exploded principle,
at all times dangerous, hut pre- -cminently
so at this time, when such loose aud dan
gcrOus conceptions Of the Constitution are
abroad i'll the lind. If the argument is
! good, Ill one case, il is good in all similar
! cases. II this Government may interfere
with any Of the domestic institutions of the
| States. on the ground of promoting the
nny bcstow privileges to control them, it
purpose; aud thus Il door might be opcncd
TO an interference with the State institutions.
of which wc Of a certain section ought at
this time to be not little Jealous.
The argument might be pushed much
further. We not only oilcr to confer great
and important privileges OH the banks to be
selected, bu!, in turn ask them to s,ipul;le to
comply with certain conditions, the object
Of which is to bring them under tho super.
vision and control Of this Governments
1t might be asked where is the right TO
purchase or assume snch supervision or
control! 1t might be repeated, that they
are State institutions, incorporated solely
for state purposes; and to be entirely undc,
State control, and that all supervision OF
our part is in violation Of the rights of thc
States. 1t might be argued that such super.
vision or control is calculated to wcake,
the control of the States over their own in
stitutiOns, and to render them less subscr
Went to their peculiar and local interests, fo,
the promotion Of which they were cstab
lishcd; and too subscrvienl TO other, and
perhaps conflicting interests, which nigh
feel but little sympathy with those Of the
States. But | forbare. Other. and no
less urgent objections claim my attention
, To dilate too much on one, would necessari
ly sacrifice the claim Of the others.
5 mex, object, that whatever may be tn
right TO enter into the proposed bargain, tn
mode in which it is proposed to make it i
clearly unconstitutional. if l rightly com
t prchend it. am moi certain that 1 do
: hut, if I understand it rightly, the plan is
D for the Secretary Of tho Treasury to sclec
n twcnty-iveState banks, as described in tn