Madison Whig advocate. [volume] (Canton, Miss.) 1839-1841, 1839-10-12
For the Madison Uhiy -ifroeafr-
Political Disquisitions.--No l.

favor of the Constitutional power OF Congress
to charter a National Bank from precedent AID
authority. / commended that the construction
given 10 our Federal compact BY those who
raade il, supported that construction IS BY
all the most eminent jurists of which our
Union can boast, is entitled TO the highest re-
gard adverted TO a long exploded objection
to the exercise of this power, now so common
in the mouths of some of the icOrsii Be ast1tr of
the Van Buren, party, founded upon eircuBs-
stance contained in what the United States A l.
torney general, Edmund Randolph termed an
sainuosi ,usrsOrrs history' of the proceedings Of
the Federal Convention. | said thar, even sup
posing proposition to give Congress the e1-
press and general power TO charter corporations
was made In the Convention and rejected, II
does not necessarily follow that the Convention
| intended to forbid, under all circumstances,
| the establishment Of a sank-for instance, II
| the creation of such an institution should be
| Unnecessary and proper a fiscal agent Of the
Government, and to furnish uniform and
sound currency for the people We have 4
right 70 inter the rererse of this from the facts.
that this Circumstance was urged by Nh Nadl-
son in F9I, and was considered BY the Con
gress of tina, day, by Randolph the Attorney
General Under Washington land Randolph was
oPpo,ed ts the bank,) and By Gen washington
himself entitled no weight. and even
Mr.. Madison himself afterwards Welded the
point.
This inference is, also, further strengthened
| by the net that Congress did exercise the
bank-incTporating power anterior 70 the adoP-
ton OF tie Federal Constitution, under the
Articles IF Confederation If Thomas Paine
be good authority, (and believe he Is admit
ted to be such even by the clergy IN politaezi
matters ''Congress passed an ordinance of IN
| corporation December the 2lst I78I,F towards
the establishment of the Bank of North Ame-
rica- And yet erpre power to do this Is not
| to be found in the Articles of Confederation.
although these constituted the power OF attor-
| ney, or Cnstitution, under which the Congress
of 1871 acted Were there any, Of any party.
of that day, whose democratic indignation wax
ed warm and who poured the walls Of anti
bank, loco-foco wrath upon the hzplsss heads
of those Who composed that patriotic body
None, save those who mustered in the red-coaf
ranks of Executive power-wh9 licked the
hand which was endeavoring 10 wrest from
them their liberty.. Does any one ask by
what name such beings were designated n that
age of patriots, of statesmen and OF heroes
Every child whose lips have learned 10 lisp the
name of Washington will answer TsrIss-
II others were battling in the ranks Of Iibsr-
ty- Adjusted BY pure and holy purposes
themselves, they were willing 10 award 10 thar
Congress the same lofty intentions. and, there
fore, they did not make the wslkin rinr with
vituperation. They did not strive. from sins
ter motives. 70 fan the prejudices Of the people;
to point the finger of scorn at the members
when they returned TO their homes and IRE
sides; to denounce them as bank aristoerats.
bank federaIists, and by every other ePithet OF
abuse to be found in modern democratic vO-
cabulary- No, sir, far from it. Bat shs shout
of swell done thou good and faithful servants
Numbered upon their ears from the hearts 0f 4
grateful people.
But these shouts of appreciation came not
from the matrons or the mansions Of decrspid 4
age alone The bone and sinew and chivalry, 4
too, of America were contending almost IN
hopeless despair against proud and powerful
foe Unpaid, unclothed and almost unfed. thew 4
marched over rocks. and hills, and frozen roads,
leaving behind them the blood that trieklsd Il
from their mangled feet And when forced %
court 'skind natures sweet restorer. baImv Il
Sleep" Heavens stormy canopy was their shel-
ter, and snow-clad earth their couch These
were men who proved their patriotism, net BY
words, but by deeds By establishing thar
bank these patriot soldiers were clothed, and
fed and protected. They were thereby ena-
bled to prosecute with increased vigor the
holy cause of liberty. From these. too. ema-
mated the grateful shouts of appreciation
OF this act of the Congress of 1871. II Is not
to be presumed that the trainers OF cur Consri-
tuition were ignorant Nor were they unaware
that the instrument they made as = substitute
for the Articles of Confederation, gave % the
Federal Government more ample powers. par
ticulariy as regards the currency. than vas
vested IN IL by the latter. Seeing then that
Congress had exercised this as an implied pow
er, when its authority was more limited than
II is under the present form of our governments.
why did not the Convention insert a elar--
prohibiting the exercise of the incoroOrzrisr
power under amy eire,rsstances, If thew did NOT
intend that il should be exercised as an irnoIied
power! Let me not be misunderstood 81 d
not mean 10 say that every power rot forbid
den TO Congress is, therefore, possessed BY II.
but, that the jealous spirit with which cur re-
publican fathers of 1888, regarded every grant
OF power to the Federal Government. ~ouIa
have prompted them to guard against the use
of this bank-creafing power by an express pro-
in the same way as they did the
omission of "bills of credit- by the Srares-Il
more particularly when that Congress might.
with more justice. claim such power under
the Federal Constitution, than under the Arrs- Il
cles of Confederation
The inference, then, Is, not violent and Il,
strained, but irresistable, thar the author. oil
the Gonstitnfien intended the Incorporating
power should, if necessary and proper be
exercised rs q sseens of carrying into effect
any or I'll Of those which are expressed upon
the face Of that instrument If additional an
rhonsy be wanting, ! may add thar the SUI
Preme Court Of the United States, the highest
Judicial body in the Union. have decided uzsaas-
ssoass!y, that Congress acted within the sphere
Of ifs Constitutional powers in charterns