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

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lave we the right to do all this in order {,
hestow confidence in the banks, with th,
Wow to enable them to resume specie pay
ments! Whut is the state Of the case!-
Inc banks are deeply indebted TO the coun
i; Try ana arc unable 10 pay; and VIC are
asked to give them these advantages, in or
der 70 enable them to pay their debts. Car
We grant the bounf In answering this I'M
: Portant question, begin with tho fac, t,,ha,
our Government is one Of limited powers.
IL can exercise nc right but what is spccifi
caliy granted; nor pass any law, but what
IS necessary 2nd proper to carry such pow
or INTO effect. This small pamphlet (hold-
ing u up) contains the Constitution. Its
grants ofpowcr are few and plain; and
ask gentlemen TO turn TO it, aud point out
the power. tiat authorises us TO do what is
proposed To he done, or to show that,to pass
tins substitute, is necessary to carry any of
The granted powers into effect. Ifneither
can DC shown. what is proposed, cannot hc
c"ns''tutionally done; and ill it is spcciii-
caIly pointed out, am warranted in bclcv-
ing that is cannot bc shown.
Our reason is Often confountlcd by n
mere name. An act, i'll the minds nf many
may become OF doubtful constitutional mn.
thorty, when applied 10 bank, which
none would, for moment hesitate 10 pro
nounce grossly unconstitutional, when an
| Piled To an individual. To free ourselves
IRON these illusions, / ask, could the Gov
| crnmcnt conslitutionally bcsiow on individ
uals, or private association, the advanto.
gcs proposed TO be bestowed on the selected
banks, in order TO enable them to pay their
debts. Is there one who hears me, who
would venture TO say, yes, even in the case
OF The most extensive merchant or merca,-
tlic concern. such as some nf those in New
York. or New Orleans. at the late suspcn
SION, whose cmbarrassments involve entire
scctions III distress! But. if not, on what
principle can discrimination DC made in
favour of the banks ! They arc local
institutions. created hy the State for locol
purposes, composed. like private associa-
lions, Of individual citizens, on whom the
acts Of the States cannot confer a nar,;clc
Of constitutional rights under this Cons,i-
tutlon, that does not belong 10 the hum
hiest citizen. So TAR from il, il there he
ltt lIftlIGr IRON Inc control of Tins
Government than e individual citizens,
who, by the Constitution, are expressly
subjected to the direct action Of this Gov
rnmcnt III many instances; while the Stne
haiks' rs constituting portion Of the do
mcstIc institutions of the States, and resi-
ing on their reserved rights. are entirely be-
yond our control, so much so, as not 10 be
The suffice, OF q bankrupt law, although the
authority 10 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 tha, these local in
stiutions, intended for state purposes, have
been SO extended md so connected them
selves with the general circulation and bu
sihcSs OF the country. rs to affect the inter-
est OF tho whole country, so as to make IL
the right and duty Of Congress to regulate
them, or, in short, on the 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, but prc-cminen,ly
SO at this time, when such loose and dan
gcrous conceptions of the Constitution Arc
abroad i'll the lind. If the areument ;s
good, III one case, it is good in all similar
cases. II this Government NAV interfere
with any of the domestic institutions of rho
States. on the ground Of promoting the
general welfare, il may with others. If il
may bcstow privileges to control them, it
may also appropriate money for the same
purpose; aud thus n door might he opened
to an interference with the State institutions.
ot which VIC of a certain section ought at
this time to bc not little Jealous.
The argument might be pushed much
further. We not only ollcr to confer great
and important privileges OH the banks to be
selected, bu., i'll turn ask them To- s,ipulalc to
comply with certain conditions, the object
Of which is to bring them under the slDer.
| 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 under
State control, and that all supervision OH
| our part is III violation OF the rights of the
States. 1t might he argued that such super
vision or control is calculated TO weaken
the control of the States over their own in
stitntiOns. and to render them less subscr
Went to their peculiar and local interests, for
the promotion Of which they were cstab
lishcd; and too subscrvient TO other, and.
perhaps conflicting interests, which might
feel but little sympathy with those of tho
States. But | forbare. Other, and NOT
less urgent objections claim my attention.
| 10 dilatc too much on one, would necessari-
ly sacrifice the claim of the others.
next object, that whatever NAV be the
right TO enter into the proposed bargain, the
mode III which 1t is proposed TO make IL is
clearly unconstitutional, if rightly COM
prchend ii. i am not certain that | do :.
but, if | understand it rightly, tho Elan is.
for the Secretary Of tho Treasury TO select
twcnty-hveStatc banks, as described in tho
substitute, which are to bc submitted to the
two Houses to be confirmed, or rejected. bv
their joint resolutions, without the approv.
al OF the President; in the same mode. no