Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1839-04-18

have armed the general Government with
power ss Tar transcendi0g that conferred by
tho Incorporation ui National Bank. Shder
its exclusive cootrol, az The capitals and in.
huencs Of tho State Banks, consolidated iu>
10 ono, may be presumed to exceed the cap>
itai and Influence OF . National Institution.
Such law would have subjected The whole
banking system Of the States to tho super.
vision aad control Of the Federal Govern
ment--a power which capriciousIy and arbi-
trariiy exercised, as ii would be by cor.
rapt aud ambitious President, might, and in
all probability would lead to the most cslam,
itous consequences. And in addition to this
monstrous accumulation Of power in the
hands oil the Executive, il obviously aims q
blow, no, only a, The dignity but at the sove-
reignty oil the States, to which these Banks
are Indebted for their existence and to which.
therefore, thcy are, by every fair and safe
principle OF constitutional construction, er.
ctus'uely amenable fer any perversion or a.
buse VI their chartered rights. Itis a re-
markaOle tact, In connection with this I'm :
precedented attempt, on the part Of the Adj
ministration 10 enlarge the spheres OF its
powers by the most lalludinous construction
oil the Constitution ever claimed, even, by
the most ardent disciple o: the Hamilton ian
| school OF Federalism, that President Van
Busen, while q Senator from tho State OF
New York in tho year 1927 himself opposed
the introduction of this principle into the
Bankrupt Bill then pending;be Congress
because Che said) cit toas a direct violation
Of the Constitution" and because. even II il
did not infringe that instrument, at toouLi
6s an outrage upon the rights efthe States 90
! 10 what influences are We 10 ascribe this
marked change OF opinion upon O grea, Con.
stituiionsl question, involving the absolute
control of the whole banking system of the
Union, and making direct attack upon the
sovereignty OF the States, at point in which
II is most yulnerable? Why did Mr..
Van Buren, recommend, in 1887, The g.
nactment OF law, to which, in 1927, be on.
posed these formidable and vital objections
10 hat else can it be ascrbed but 10 tina,
hxed and invincible purpose, evinced by go
many acts OF himself and his ''ilIustrious pre-
decessor, to enlarge the sphere ol FEEDER al
authority land 10 clolhe with more than mo-
narch'al power the Federal Execuiive?-
And It Is politician whuse opinions are thus
loose ard mutabie, that the people of Vir-
glnia are called upon to support as the advo.
cate OF a literal construction of the Cons,i.
tu'ion--as the defender of Stale rights-as
The champion OF the principles embodied Sin
fayior's Resolutions and Msdison's Re-
port!"
But We are gravely informed that MIR.
Van Buren, is opposed to a National Bank.
TO internal improvements by the General
Gossrnment, and TO the Tariff and that his
hostility to these measures, gives him an ir,
resIslIbie claim 10 the confidence and suff.
RACES Of the people of Virginia. These
fellow citizens, are tbs s;ereotypei phrases
by which cunning tacticians hope to deceive
and misiead you. All candid men OF all
parties, admit that they have ceased 10 be
practical questions. All idea Of charterine
National Bank, has been relinquished BY
Its former most sanguine advocates, as I'm.
necessary and nexpedient in The presen,
and probable future monetary condition o.
the country the necessity of Internal Inn
provements by the General Govern ment hs.
been entirely superseded by the energetic
application of tho resources of the severn
Suites to that object; and tho Tariff 10 set
tied by the terms Of the Compromise Ac
OF 1883, unless 1t shall be re.0pened for DO
tticdI purposes By those ,oho affect to drea.
the rs.sstabtishn'ent Of high protective du
3 ties These duties, indeed are no longe
, necessary, the stability Of our manuiactu
ring establishments enabling them TO main
tain competition with foreign fabrics with
out 8 resort 10 this exlraneous support-a
/ support which, fuciuating with The alternaf,
rise and fall of parties, is far from being de
sirable, even were it any longer essential
for with thai branch Of national industry. al
with every other, stability of leg Islation i,
Tar more important than temporary advan.
tages, OF which they may, when least OK.
pec'ed, anc when their withdrawal Nigh,
{ operate most disastrousiy, be deprived b,
3 the result oi an annual election
. (Io be continued