Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-05-22

Il
commerce. This gives it, necessarily, a,
suPerintendence over all the interests, a.
gencles, and instruments of commerce.
The words are general, and they confer
the whole power. When the end is given,
all the usual means are given. Money is
Tho chief instrument cor agent of CON-
meEee; there can, indeed be no commerce
without it, which deserves the name.
Congress, must, therefore, regulate it as it
regulates other indispensable commercial
interests. Fl no means were to be used
ltokbis end but such as are particularly e.
nuherated, the whole authority would be
nug atory, because no means are particu.
larry enumerated. We regulate ships;
tair tonnage; their measurement the
shipping articles; the medicine chest
and other things belonging to them and
for all this we have no authority but the
ger eral power to regulate commerce :;
MOI e of these, or other means or modes
OF equation are particularly, are express.
" ointed out.
But is a ship more important instru-
mont Of commerce than money We
protect a policy of insurance because it is
iG important instrument Of ordinary
1mercial contract; and our laws pun
i with death any master Of vessel, or
{ ers, who shall commit a fraud on the
! j ties to this contract by casting away a
vessel. For all this we have no express
authority. We infer it from the general
power of regulating commerce, and we
exercise the power in this case, because a
policy Of insurance is one of the usualin-
strUhents, or means of commerce. But
howfnconsiderable and unimportant is a
policy of insurance, as the means or an
instrument of commerce, compared with
the whole circulating paper of country.
Sf, the power is granted to us, and
granted without any specification Of
means and therefore we may lawfully
exercise all the usual means. | need not
particularize these means, nor state, at
present, what they are, or may be. One
is, no doubt, proper regulation of re-
ceipts at the custom.houses and land off,
ces. But this of itself is not enough
Another is National Bank, which, | full
ly believe, would, even now, answer all
desired purposes, and re-instate the cur
rency in ninety days. These,I think, are
the means to be first tried; and if, notwlth-
standing these, irredeemable paper should
overwheln us, others must be resorted to-.
We have no direct authority over State
banks but we have power over the cur
rency, and we must protect it; using, OF
course, always such means, if they be
found adequate, as shall be most gentle
and mild. The great measure, sir, is a
bank; because bank is not only able to
restrain the excessive issues of State
banks, but it is liable also, to furnish for
the country a currency of universal Gre
dit, and of uniform value. This is the
grand desideraium. Until such curren-
cy is established, depend on it, sir, what is
necessary for the prosperity of the country
can never be accomplished.
On the question of power, sir, we
have very important and striking prece-
dent.
The members of the Senate, Mr.. Pre-
sident, viii recollect the controversy be-
tween New York and her neighbor States,
fifteen or sixteen years ago, upon the ex-
elusive right of steam navigation. New
/ York had granted an exclusive right of
such steam navigation over her waters to
Mr.. Fulton and his associates; and de-
clared by law, that no vessel propelled by
steam should navigate tho north river or
the Sound, without license from these
i grantees, under penalty of confscation.
i TO counterfeit this law, the Legislature
of New Jersey enacted, that. if any citi-
zen Of hers should be restrained, or iniur-
ed, in person or property. by any party
I acting under the law of New York, such
citizen should have remedy in her courts,
| if the offender could be caught within he +
territory, and should be entitled to treble
damages and costs. New Jersey called
this act law of retortion; and justified
it on the general ground of reprisals.
On the other side, Connecticut took fire,
and as no steamboat could come down the
| Sound from New York TO Connecticut
or pass up from Connecticut TO New York
without New York license, she enacted
law, by which heavy penalties were i'm.
posed upon all who should presume to
) come into her ports and harbors, having
any such license.
i Here, sir, was a very harmonious state
!, OF. commercial intercourse very pro
} missing condition of things, indeed You
could not get from New York to New Ha
) ven BY steam; nor could you go from
81 New York to New Jersey, without tran
! shipment in the bay. And now, SIR. lei
3 me remind the country. that this bellgi
rant Legislation Of the States concerned
:. was justified and defended, by exactly th,
san1c arguments as those which we have
: heard in this debate. Every thing which
; has been said here, to prove that the au
: thority to regulate commerce does not in
81 clude apower to regulate currency, wa
j said in that case, toproye that the sanll
!; authority did not include an exclusive pow
i er over steamboats, Or other means Of ma
i yipation. do not know q reason, a sug
] gestion, an idea, which has been used j
B this debate, or which was used iii the de
81 bate ii September, to show that Congress
i has no power to control the currency {
I the country and make i uniform Whic
Il was moi used ii this steamboat contr0vel
: s.. 10 prove that The authority Of this g
/. vernnent did not reach the matter thcn
a dispute. Look 70 the forensic discussion
4 lin New York Look 70 the argument
!. the court here! You VIII find it ever
,fl where urged that navigation does "a
q come within the general idea Of reg g
r ing commerce; that steamboats, are 3
: vehicles and instruments; that the poW'
]. of Congress S general, and general onl,