Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-03-29
THURSDAY MORNING, MARCH ae, 1888.

ture and The People. Both the constitutional
NY and tbeRxp edieney OF the law creating thu,
bank are weu questioned By a large porfioa q
eur Jsit0tr-eili:sss; aud IL must be admitted D,
all that u has failed 10 the great cad Of estab b,
fishing uniform nd-souu6 currency.
Under these circumstance II such an in.
tsiiiutisn - desIoesi essential 90 the fscai ore.
rstiOns Of the Government, s,.bAii TO tao tcis.
dos, Of the Legislature, whether national one
founded upon ths e'sdi u GottTREisnt aaS u
'creaHss. might not be devised. which would
Z avoid all constitutional difficulties, and al the
same time, secure all the advantages To the
GoNernuleni aud the country that were eN
Peeted TO result from the present bank
This was the first open declaration u thai
implaeabie war against the late Bank Of the
United States, which was sfterwArds wased
with so much fer1eiIy. u was the sound OF
The distant bugle, 10 collect together the dis
persed and scattered forces, aud prepare foT
battle. The country saw with surprise the
statement that 1.-The cOnsiiiutionslity and ex-
pediency OF the low creating this bank arc
we'll questioned 81 large portion Of our fel-
low-citizens," when, ia truth and 10 Tact. II
Ms well known that but few then doubted
the eonsttulioEsliiy, and none the eNpcdency
Of IL. Mud the assertion excited much great
CT surprise, that 1t must be admitted bu al
that u has failed "a tue great end Of establish
it-g uniform and sound currency" In ihi.
message. too whiista doubt Is iniimaiCd as tc
the utility of such an Institution. President
. Jackson clearly fret diseloses his object To
establish a national one founded upon tho
efcdi cf-fhs GorerHmrni eHd 10 revenues. Ia.
language i-pertsctis plain asd uus quivocai
such a bank, 1ognird upon the credit Of the
|. Goyeruu,al sud Is Tel,Rucs. would secure
all the adj auiases 10 the Government and the
country, be tells "a. that were expected tc
result from the present bank.
Ia his agnusl message Of the ensuing year
Tie late President SAWS
"Thc.imporiaGce OF the principles involved
in the inquiry, whether II wiA DC proper 1,
-recharter Tie Bank Of the United States re.
quIros that should again call the attention oil
Courtess 10 the subject. Nothing hos &C.
curfed "a lessen M any degree Ihe dangers
watch many OF our citizens approhoud from
that Institution, a. at gfc;SHI o. gani,sd In ~,
spirit Of Improvement snd compromise which
distinguishes cur couoiry aud H. Institutions
Il becomes us To inquire trhsihtr Il b net posi-
b!e 70 seeury ne Cdczaiesss qGsrL D. Lse prc,en
taak, through he essncy u Bank II ths UHj'e,
Stale, niot. fed ~ H. principles IS To obNiaJ,
constitutional and other objections.
lit Is thought practicable TO organize sucl
a bank, with Tie Hecessary officers, as q brand
, u ihs Treasury D,parim.n,, based on the pub
iic and individual deposiies, without power {,
, make loans or'purcbase property, which shall
, remit the funds 81 tie Government; and th,
expense Of which may De paid, if thought ad
yislble, BY allowing H. officers % stH bills q
exchange. 20 private indiy iduals, ara moderate
premium. Not being corporate body, Lav
ing no stockholders, debtors, ald property
T and bat few officers, it would rot be 6bnox
. ious To the constitutional objections Which ar
urged against the present bank; and having ~
means 10 operate on the hopes, fears, or IN
!, teTcsts Of large masses of the community,
, would be sliorn OF the influence which make
/, that bank Formidable"
4 In this message, President Jackson, afte
!. again adyerting 20 the imaginary dangers o
Bank OF the Unhed States, Tecurs 10 his Ga
voriie project, aud inquiries whether Il be no
4, possible 10 secure the advantages afforded b
= The present bank, through the agency Of
Bank II The United States, so modified IN i,
principles and structure - 10 obViaie const
. tuIionai and other objections Afd TO di>pe
= all doubts of the Um,d, and to coriirm ia
= wayeTiHg be declares that II = thought prac
a iicab'e 20 organize such bank. with the no
cessaTy officers. a. a branch Of TIC Trcasur
Department. is bruHfh q ths Treasury ~
. PHtmenE The very scheme noW undeV con
sheraton. And, 10 dcfray the expenses Z
such anomalous institution he suggests TIA
= the officers Of tie Tftasury Department ma
turn bankers and brokers and sell bills Of eS
i. change TO private individuals at moderat
premium
: In has annual message Of the year ls3l
upon ih, subject, be was brief and some " b
covered IN bis expressions. But the fxe
purpose which he entertained Is sutiicientl
disclosed 10 the attentive reader Tie anuouu
d ces that,
: "Enter,aining the opinions kefdcC . eS
< pressed IN relation TO the Bask u tho Unite
e States, a. prsfsni o1gaHis,d. I felt u toy u
81, iu my former messages. frankly 90 dHclOs
= ihTm, in order that the attention q the Leg
e lsiure aud the People should he seasouah.
directed % that important subject. and thai
o might be considered. and finally disposed q
d 90 e manner best calculated to promote ih
ends Of tie Constitution, aud subscfve "a
% pubifc Interests"
e What were the opinions heretofore" e,
, pressed SIC haze cieoriy seen, They wer
d adverse u the Bank q the United states. a
e az present a-ani-sd, that IT, 60 say. an organ
zslion with any indcpcndint corporate G..
9 yernmOai. and in favor Of a national bs,.
g which should be- 20 constituted a. 10 be ~,
= iect to exclusive Executive control.
y ~ The session Of isIi-'J2, the questio
p Of the rochaJier q thc Bank q The mite
b States GANG up. ard aitbouEhthe attention
% Congress s1d The cotintfy bad been rcprstr,
b ly and deliberately before invited 90 tbc COS
70 sideraOon Of it By PresIdeHt Jackson himsei
b. tiss agitation q % was now dec Jared by hil
y and as parii.ans So BE- preciptate and pffmi
e lure. Neferiheitss, the country and Coz
gress conscious II tho value 81 safe an
n sound uniform cuuchgl, conscious that suC
e a cuhrrty fat hecn enineutly supplied b
y ne Bark u ihs tinted states, snd u1move
d BY OIL TIE outeTy raised against hat 1dmir.
= Ole nsiiuti1n. thc reehaficr commaHded lafe
ayof.ucs iH bsiB il0ates &C ConEFtsf 3.
e taHy ler iIs interests 90 llIs coantry She tisi
+, se1-sr Ut Gensral jack,9n fromptsd bin Z
b. r.sk every hinE HPtB ICE overthrow 10 u
b. J0th OF Jeiy l-11, ihe h,y was rst'rnei ait
{, be veto, iron which ihe folnuirr eXlract
submitted 90 Ite attenute eoasidcfsiiono %
ID rcffIrs
10 "a Bank " tbs' Uried States b.. in NAP
1t.lfcts. s4osen.fnt &C. itf Grsernmeut ri
% q-s-.i o. it- People lsicrainpg ihrorI'
,oa afa GrfpIy mPftssrs alth tis leIfff it.
10 souc ~ OBJ, Frsec anl tiishfgfs possesse
BE- o., tiie casiisg bBFs lre urauihw ze'i ~ lh
DO fonslfuiion. fabtCrsifeef H.e rights ~ OBJ
D. >f1ifs. 40 canEtrog. to iTe i.tfBfs of ua
Psore , ftn my d0ty. 81 antariy rtrio
% 0l'mT r.W fs'fsugF. ta taIi thc nutHupu Z