Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-01-01

National Bank for ~ years Of our pOlit.
lcal existence, proceed to state few of
the grounds upon which rests the constitu-
tional power Of Congress to crehte Ma
ton Bank.
The 9Th sec. of art. LIST, of the Consti.
tuition, provides that sal duties. impOsts
and ercises shall Be uniform throughout The
United States" Permanently, uniEormi-
ty, and stability were given to the curren-
cy by the Bank of the United States, ere.
ated in 1891. From 1911, until the Sec
ond Bank Of the United States was ere.
ated in 1915, and until It's wholesome and
restraining influence was felt and acknowl.
edged by the local Banks, comnisrce was
embarrassed and the currency of the coun.
try disordered. At that period, there was
no UNIFORMITY in 6 dufies, imposts and ex.
cises throughout the United States" for
the want of a " inform currency" The
notes Of the Banks of one State in which
the imposts, duties and excuses were col
lected, were deprecated below the notes
of another. Owing TO the great number
of local banks which sprung up like musll-
rooms, while there was no National Bank,
and the consequent unsoundness of the
currency, it was several years before sta
bIlity and uniformity was given to the cur
lency throughout the United States, after
the establishment Of the Bank, in 1916.
But from 1920 to 1880, we had sound
and uniform currency. Then the i'm.
posts, duties and excuses became uniform
throughout the United States. So long as
the Government shall receive its dues in
Bank paper, as it has done, and now pro.
poses to do, no one can hesitate to say that
the Constitution above quoted is violated,
unless there is uniformity in the value of
the money which it receives.
Again, to the Treasury Department is
con6ded, under the direction of Congress,
the collection aud disbursement of the pub
lie revenue. During the existence of a
National Bank, that institution was used as
a means to facilitate the collection and dis
bursement of the public revenue, free of
charge to the Government. All Of the
Secretaries Of the Treasury, with few ex.
ceptions, concur in the opinion that it is
necessary and proper to have such an in
stitution as an auxiliary to the Treasury
Department, and believing that Congress
had the constitutional power, have urged
its incorporation. Some respect is due to
the opinions of the Secretaries of the
Treasury. | am satisfied N my own
mind, that National Bank is NECESSARY
ana proper to give uniformity and sta
bility 10 the currency, as adopted and used
by the Government from its earliest ex.
istence-and that it is also necessary and
proper, under our present system, as an
auxiliary to the Treasury Department. =
The following clause of the Constitution
of the United States is full and explicit.
1t is the latter clause Of the section before
QUOTED defining the powers of Congress
Congress shall have power to make all
lIaCs aOhich shall be necessary and proper
for carrying into execution the foregoing
powers, and all other pOaOeTs vested by the
Constitution in the Government of the u
nited States, or in any department or off,
Ger thereof"
In support of the position which occu-
Ply, l will give the names Of American
Statesmen whose opinions viii be rever-
enced and respected by patriots and repub.
licans. The Bank chartered in 1871, il
is generally understood, received the unan
imous vote of the Senate. In the Lower
House, the vote was thirty-nine in ia
vor Of the Bank, and nineteen opposed
1t received the sanction of George
Washington, after giving to the subject
that full elaboration which so strongly
marked the character of that great anC
good man when acting for the American
Z people. The Government had just com
menced operations under the new eonstitu
tion-no party prejudices influenced the
riends of the Bank. Those wh1 wish Il
form correct opinion on soimporlant ;
subject, should follow the worthy example
of their patriotic forefathers.
The Bank of 1916 was chartered by
Republican Congress. It received tht
unanimous sanction of a Republican Cab
met and having be n recommended By
James Madison, (who had formerly oppos
ed it,l received his sanction. Of thos,
who voted in favor of the Bank, in the low
er house. SO were Republicans, and i.
were Federalists. OF those who vote
against the Bank, 43 were Federalists, an
l. % were Republicans. The vote in th
/ Senate was as follows: OF those who vot
ed in favor of the Bank, 16 were Repubii
cans and were Fcderalists-ando fthos
: who voted against the Bank, 6 were Re
] publicans and 6 FederaliSts. Every re
7 publican from the state of North Carolin
7 in the lower house voted for the bank
!. There were but three federalists from the
i state, and all of them voted against tn
J Bank. The whole delegation from Sout
!, Carolina was republican-and the bill t
!. charter the bank was introduced by JON
!, C. Calhoun, and voted for by himself an
: William LoWndes, and allthe rest Of tn
: delegation, except one. Anajority of til
E republicans from Virginia voted for Ii
/ bank, and all the federalisls from that stat
1 voted against il. The whole delegate
: from Georgia was republican, and all Yo
E ed for the bank, except one. The Unite
n States Bank in 1916 was enphatically
a republican and southern measure brougl
# forward by the republicans, supported
8 the republicans, and sanctioned BY the n
i publicans.
: Al bill to re-charter the Bank pass.
5, both houses Of Congress in 1882. 81
bill was returned with the objections Of Il
= Executive. In returning the bin, GeneI
i Jackson usedthe following language &
ii ElsssE = IN, TE~s3Sq cfafoe e - = r,,,f .