Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1838-05-29

tbs, II 4. otherwise with regard TO domestic o..
change.
9. Every practicable provision sss,n., Tho .,..
else Of improper influence. on The part Of Tho r..
ecu,ive upon the bsnk and on the par, If the b.st
upon the elections OF The county. The late B,n,
OF the United Stat, has been, ] believe. mo,, On.
justly chsrgej with Interference In the popul,r =.
leciions. There IL, among The public dooumeur
evidence Of it's having scrupulousIy sbs,aincd from
such interference. I, never did more than 10 e,.
ercIse the natural righ, Of sell. defence by pubh.h.
ing such reports, speeches, aud documents q. ,,ns.
ed to place the institution and its administration D.,
a fair pom, Of view before the public. Bot N,
People entertain a jus, jealousy against The dan.
ger Of any Interference Of q bank with the ees.
tons of the country. and every prccaulion ougb,
10 be taken strictly IN guard against IT..
This is n brief outline uf such a new Bank o-,bo
United States us | think. if established. would
greatly conducc to the prosperity Of the country.
Perhaps. on full discussion and consideration some
Of the conditions which I have spgpcs,cd might
not be deemed eNpedlen', ot nigh, require mod.
fca,ion, and important additional ones nav 5c r,g.
posed by others.
| "ill only say a word or two on tho con.niu.
tlonal power. think that it ought no longer 10
be regarded Ms an open question. II ere ought 10
be some bounds Ia human controversy. Sadlt,
Is a necessary want of society. Among those who
deny the power, there are many who admit tho
benefits Of a Bank Of the United Staics. -Four
lines, and under The sway cf all the political pnr-
ties, have Congress deliberately affirmed It's exis.
tencc. Every Department of the Govcrnmcnt has
again md again asserted Il. Forty wears of ac.
qnjsscencc 10y the People uniformity every whore
in the value of the currency facility md ccono.
my in domestic exchange, md uncxampled pros.
pcrlty IN the general business of The country, with
a Bank Of the United States and. without II, Mid
disorder IN the currency. fuinous irrcgularity ia
domestic exchange, and general prostitution in he
Ommerc and business Of the nation, would seem
TO put The question at rest, If II is not to be perpct.
ually %ogitotod.
The power has been sustained by Washington.
the Father of biz Country by Madison, the Faith.
or of the Constitution and by Marshall Tho Faith.
or Cf the judiciary. If precedcnts are not to be-
blindly followed, neither ought they to be wanton.
Iy %Gespiscd. They nre the evidence Of truth and
the force of The evidence is in proportion TO ,he ia.
tegri,y, wisdom, and patriotism Of those who rs.
tabllsh them. ] think that on no occasion could
there be an array Of greater or higher authority.
For enc, ] hope to be pardoned for Welding TO II,
IN preference TO submitting my judgment to the o.
plnlon Of those who now deny the power, however
respectable they may be.
But, Mr. President, strong 0s my convictions arc.
have no intention Of formally presenting any
proposition TO establish n Bank Of the q. States.
Composed as Congress md the Executive now are,
Il would be m Unnecessary waste Of time TO offer
such a proposal. | should regret to see II bank es-
iab!'shed, unless IT were clearly called Cor by pub
lie opinion. ] believe it is now desired by n ma
jor.ty of the people Of the United States. Bot Of
mat there does not exist perhaps any conclusive
evidence, Let Us wait until Demonstrations Of
their will shall be clearly given and let ns all
submit, and, for one shall most che erfullv 10 Their
decision, whatever it may be-. Mr. e. moved that
the petition be laid on The table
Mr. Allen and Mr. B~uchsuan followed in rep,y ia
Mr. Clay, and spoke against a Bank. both on Con.
stltutional and other grounds. Mr. Buchanan de.
med that The Government had he right to regulate
the exchanges, and, # they had it,a National Bank,
he nverred, could rot regulate them. Mr. r. er-
pressed n great horror Of a bank 10 be established
IN New folk-and especially with Mr. Gallaiin at
It's head. But Mr. Clay underworld TO pncify hlm
by assuring him that he would be willing 10 have
the Bank IN Chesnut street, if no other place wod
do. lie regarded the place Of The institution asa
very subordinate consideration.
lie was however, inclined to favor The establish.
ment of a new institution in prcfe renee TO taking
the Pennsylvania Bank, of the United States. tho
that might form n basis for a National institution.
The memorial "os finally laid on the table.
HoUsE-The bill to provide for the continuation
OF the War in Florida, and 10 pay aucarages, Was
taken up in Committed Of the Whole. Bot tbs
Committee rose at an early hour. and the House
adjourned.