Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1839-07-18

! Speech Of Mr.. Clay against recharter-
ing the u. States Bank IN lSl2.-Nr
Clays remarks against The bank were
principally confined to the subject OF its
uucoustiu,ionaliry. His argument on this
point was So replele with keen and power
iul logic that We chuOse to transfer 1t to
our pages in his own words Nothing
equal to il can be found in amy Of The nu-
merous discussions which The bank ques-
lion has called forth. He seems to hold
the Strength OF his antagonist in the hollow
of his hand
1.-The vagrant power to erect a bank
after having wandered throughout the
whole Constitution in quest "i some con
genial spot to fasten upon, has been at
Ieugth located hy The gentleman from the
State of Georgia, on that provision which
aulhorises Congress TO lay and collect
taxes. In 1871 the power Is referred I" one
part of the instrument; in 1911 to annlh-
er. Sometimes it is alleged to be dcduc-
hIe from the power TO regulate commerce.
Hard pressed here. IL appears. aud shows
itself under the grant to coin money.
'Wha; is the nature of this Govern
mrnt? 1t is emphatically Federal, vested
with au aggregate of specified powers for
general purposes, conceded by existing
sovereigutIes who have themselves retain
ed what is not so conceded. IL is SAID
there are cases in which il must act on in
piled powers. This is not contruvered,
but the implication must he necessary,
and obviously flows from The enumerated
powers with which il is allied. The pow.
er 10 charter companies is not specified in
The grant, ami, contend, is Of q nature
not transferable by mere implication
In the exercise of this gigantic power, we
have seen an East India Company erect
ed, which has carried dismay. desolation,
and death throughout one Of the largest
portions of the habi,able wo.ld. A COM
! panv which is in itself a sovreisnty-whirh
has subverted empires and set up new dy
uaslies-and has uo on made war, bun
war against its legitimate sovereign -
Under the influence of this power, we
have seen arise South Sea Company,
and a Mississippi Company, that distract.
ed aud convulsed all Europe and menac-
ed total overthrow of all credit aud con.
fdence and TO produce universal bankrupt
cy. l. il TO be imagined that IL power so
vast would have been leil by The Con>ti-
tn ion to doubtful inference! II has
been alleS d Thar there are many instances
in The Constitution where powers in their
nature incidental. and which would ne.
crssariy have been vested along with the
principal, are, nevertheless expressl y e.
! numerated: aud the power to make rule
and regulations for the government of the
land aud naval forces. birh, il is said, is
incidental TO the power 10 raise armies and
provide a navy is given as IN example,
What does this prove! How extremely
Cautious the Convention were tn leave as
little as possible to implication In all
cases where incidental powers are acted
upon. the principal anil incidental oughl
To be congtnial with each other and par
take of Il common nature.
The incidental power ought to he strict
y subordinate and lnied 10 the end pro-
posed TO be attained by The specified power
In other words uuder the name Of ac-
complishing one object. which is specified,
The pow er implied ought not to embrace
other Objects which are not specified in
the Constitution. If then, as is cuntendrd.
you could establish q bank to collect and
distribute the revenue. it ought TO be ex-
pressiy restricted 10 The purpose of such
collection and distribution. Itis mockery
worse than usiIrpali0n, 10 establish it for
lawful object which is nor lawful In
deduclne the'power Ia create corporations.
Sucf. as h we described it, from The pow
er to lay aud collect taxes, the relation
aud cuudiiun OF principle and Incidental.
are prosrraled aud disiroyed. The Access
sary is exalted above The principal. As
well might ii be said that The great luni-
nary of day is accessory Ia satellite to the
hunbest star that wrinkles forth its fee
Bile light in the frmameni of heaven.
Look at il in another aspect. Seven
tenths OF its capital are in the hands of
foreigners; chiefly English subjects
We are possibly on the eve of rupture
with that nation. Should such an event
ocur, do yon apprelIend that The English
Premier would experience any difficulty
in obtaining the entire control of tha, in
slilurIou? Republics above all other Co
vernments. ought most seriously to guard
against foreign influence. All history
proves that internal dissensions. cxcit
ed by foreign Intrigue, have produced the
downfall Of every free Government that
has hitherto existed: and vet gentlemen
contend thar we are benefited by the pos
session Of this foreign capital! !"
--
NILMINGToN, Del. June %.
To tie PubLic=The UNDERSIGNED. Ad