The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-03-23

have net yet exhausted my constitutional oh
jeciions rise TO higher and 10 broader, applying
directly 10 the very essence of this substitute. |
deRy your right TO make general ocposite Of the
pubic revenue in a bank. More than halfuf The
errers OF life may be traced To iaacies originating
in an improper OF words; and among not the
least mischiev0us Is the application Of thus word to
bank transactions. ia sense wholly diiitreut from
It's original meaning. Originally II meant a thing
placed in trust. or pledged To be safely and aered.
~ kept u!l returned to the deposltor without ht.
log used by the depository. lille in his posses
sion. All this Is changed when applied 10 DE-.
poslte IN bank. Instead Of returning the dontl.
cal thing, the bank IS understood 10 be bound To-
return only an equal value and instead Of not
having the use, II Is understood to have the right
to loan II Out interest, or to dispose of IL as
II plesses with the single condition. that an e.
quail amount BE- returned, whom demanded, which
exyerirnce has taught Is not always DONE 10
place, then, the public money in deposltc, in hank
without restriction, is TO give the free use OF H.
and To allow them 10 make much as they can
out OF Il, between the time OF deposile and dls.
bursement. Have We such righi2 The money
belongs To the peope-collocted from them for spc.
cihc purposes-in which they have general IN.
,erest-and for that only and what ro~s be right
can we have To give such use OF II 10 certain ~
leeted corporations ask Tor the provision OF
the Constitution that authorizes H. | ash. ii We
could grant the use, for similar purposes, 70 pa.
yate associations or individuals, Or II nol 10 lhem,
TO individual ofiicers OF the Government: for a.
stance, to the four principal receivers unocr tbs
bill, should it pass And il tins cannot De done,
that the distinction De pointed out
II these questions be satisfactorily answered,
shall PROFOUND others still NOR, difficult shall
then ask, if the substitute should become laa,
and the twenty-five banks be selected whether
they would not IN iact be the Treasury Aud it,
not Wosi ask, where would be- the Treasury
But If the Treasury, would ak, # puo.ic money
IN bank Sould nol be IN the Treasury And !.
50, how can il DC drawn from il 10 Be l,u, Ter tie
purpose of trade, speculation, or an7 other use
whatever, against express pro, jsion 81 The C.
sutuiIoa? Yes, as express as WORDS can u,aNc i.
ask the Secretary to read the Isl article 9.h see
lion, aud the clause next to the last.
" No money shall be draNn fIou. TIE Treasury,
but IN consequence OF appropriations made BY lav
and regular statement and account Of tie re-
celpis and expenditures OF all pubic money shall
De published troln time 10 time"
How clear. How explicit No money 10 be
drawn from The Treasury, bat ~ consequence o.
appropriations made by aN; that Is the object on
hich the expenditure is 10 be made, 10 Sc d.stg.
mated by aw, and the allotted lotti q ii, srcci.
fed and yet vt have lived 10 snt daily aG1 Aatlu.
al violation of this great fundamental provision
from almost The beginning Of ou Pliiical exist
I ence 10 this day. b hold he consequences l.
has Frustrated and engulied the ycry institutions
which have enjoyed tins Illicit favor, and ,4tattd
above all ether causes the morals aud politics %.
the hole country. Yes, 10 this must b. Traced,
as one Of the maie causes the whale s}stem 81 *.
cessiye revenue, excessive expenditure, a exces
sly nd 10 ms. a.. a
the disastrous overthrow Of the baua, d, lhc cur.
reucy, aud the uneIamp!rd degeEcfacy DC pubic
aid private morals, which nave ioowed W
have sutF, red the aiiiic,ien: may me biesSia,
which follows chsstlsemen, when It's Justice T.
confessed, come IN due season.
But take still higher ground. | strike al
the root OF the mischief ! deny the iight OF TN.
Government TO trca bank notes as money ia it,
h.cal transactions. On this great question, ! neg.
er have before committed NY self though moi gene
rails disposed TO abstain from forming or ,xrres.
slng opialons. In al 10 tsuces In which IA.
iional Bank has come IN question, | h ys inyari-
/, ably taken ny ground that II the Government has
the right TO receive and treat bank notes a. g1n.
ney, II he'd the right, and bound, under the
Constitution. to regulate them, 50 as tt maze them
uniform and stable carFoncy The reasons
for this opinion are obvious, and have been q 81.
ten and fully expressed 90 former occasions. that
II @ous be useless IL peat them nov but ney.
er examined fully the right Of receiving. 81 inside
up nay MUD on It, tai since the catastrophe 10
Nav last, Ahieb, / have said, entirely seoarat.
ed The Government from the BANKS Previous 10
that period, II was an abstract question, rilh no
practical bearing as much as is COW the con.
stlipuenal fight Of admitting Louisiana into the
Union. Things now altered. The coanoc.
ton Is dissolved aud II has become a practical
question OF tHe frs, magnitude
The mover Of the substitute assumed as pos
tulate. that this Government had a rirht 10 r..
cese 10 Its dues whatever Il might think proper.
deny the proposition IN toto Il is ons tHa,
ought no, 10 be assumed, and cannot BE- proved,
and which is opposed BY powerful objections The
genius Of our Constitution Is opposed TO tic as.
sumption Of power Whatever power il gives i.
expressly granted and IL proof were wauttd, the
! numerous grants Of covers iaf more obvious, and
apparently much nofs safe to be assuaiec than
) the one in question, would afford H. | shall cite
feg striking instances.
} Ifany powers might BE- assumed one would sup.
pose that Of applying money 10 pas The debts Of
} the Government, ans borrowing II 70 carry On II.
operations, would be among them, yet both are ex-
pTessly provided for by the Constitution AgaIn.
10 Congress 4 granted tie power 10 declare var
ahdrase armies and nayies (; yet the power 10 rant
letters Of maTque asd reprlsal, and 10 make rules
Tor the regulation OF the army and navy, arc 10,
len to assumpilpn as obyions they are bot are
gwen by express grant With these, aud other
Instances not less stiiking, which might be added
II IS bold step 10 assume, without proof the faf
less ob'ious ppWer Of the Government receiving
shateVer II plsases ia It's dues money. Such
an assumption would BE- il. direct coufict with the
great prnclpls which the State rights party.
! with which the Senator Ar Riye.) classes hun.
sell. have ever adopted IN the construction Of the
, Constitution. But ii the former cannot be assutn
&c, u would be ~ vain s altempt % pfaYe thhl n