The Madisonian., 1840-01-11

tuition has passed, as Pennsylvania has wisely
taken care TO appropriate TO herself the bene
fits Of its large capital.
The question, then, for me to answer, is,
whether, under the circumstances you state, if
elected 10 the Office Of President, 1 would sign
an net 10 charter another bank, answer,
would. If il were clearly ascertainsd that the
public interest in relation to the collection
and disbursement OF the revenue would mate
rally suffer without one, and there were une-
qulsocal manifestations Of public opinion in its
iayor. | think, however, the experiment
should be fairly tried, to ascertain whether the
financial operations Of the Government cannot
b. as well carried on without the aid of a ma
tional balk. If il is not necessary for that pur-
pose, II does not appear TO me that one can
be constituiionally chartered. There is no
construction which can give the constitution
which would authorize it, on the ground Of
atiordlng facilities 10 commerce. The mea-
sure. il adopted, must have for its object the
carrying into effect facilitating at least the
exercise of some one Of the powers positive
ly granted to the General Government. If
others flow from il, producing equal or greater
advantages to the nation, so much the better
but these cannot be made the ground for
Justiiylng recourse TO it.
The excitement which has been produced
by the Bank question, the nu nber and re-
spectability Of those who deny the right to
Congress to charter one, strongly recon-
mended the course above suggested.
9Th. | distinctly answer 10 this question,
that, in my opinion, neither House Of Con-
gress can constitutionally expunge the Record
af tho canb,uU, oft hair
The power TO rcscnd certainly belongs to
them and is, for every public legitimate pur-
pose, all that is necessary The attempt TO
expGnge part Of their journal, now making
in the Senate Of The United States, am satis-
fed could never have been made bu, in pc
rod OF the highest party excitement, when
the Voice of reason and generous feeling is
stihed by long prctracted and bitter contro-
versy.
In relation to the exercise of the veto pow
or by the President, there is, think, an i'm
portant difference in opinion between the pre-
sent Chief Magistrate and myself. express
this opinion with less diffidence, because be-
lleye mine is in strict accordance with those
of all the previous Presidents 10 General
Jackson.
The veto power, or the control OF the Exc
cutive over the enactment Of laws by the
legislative body, was not unknown in the
United States previously TO the formation of
the present Federal Constitution. II does not
appear, however, to have been in much favor.
The principle was to be found in but three Of
the State Constitutions and in but one Of
them (Massachusetts) was the Executive
power lodged in the hands Of single Chief
Magistrate. One other State (South Carolina)
had, indeed, not only adopted this principle,
but had given its single Executive Magistrate
an absolute negative upon the acts Of the
Legislature. In all other instances it has
been a qualified negative, like that Of the
United States. The people Of South Carolina
seem, however, not to have been long pleased
with this investment Of power in their Go
vernon, as it lasted but two years having
been adopted in l776, and repealed in l779;
from which time the acts Of the Legislature of
that State have been entirely freed from Exc
culive control. Since the adoption of the
Constitution of the United States, the veto
principle has been adopted by several other
States. and, until very lately, it seemed to be
rapidly growing into favor
Before we can form correct opinion of
the manner in which this power should be
SAS.SA'cu, ~ ~ PiOPCA W uHutIStuuu tllC iCd-
sons which have induced its adoption In
its theory, it is manfestly an innovation upon
the first principle of Republican Government
that the majority should rule. Why should
single individual control the will of that
majority i, will not be said that there is
more probability Of finding greater wisdom in
the Executive chair than In the Halls of the
Legislature. Nor can it possibly be suppos-
ed that an individual residing in the centre Of
an extensive country can be as well ac-
quainted with the wants and wishes of Il
numerous people, as those who came immedi
ately from amongst them--ihe partakers, for a
portion of the year, in their various labors
and employmenls, and the witnesses Of the
effects of the laws in their more minute as
well as general operations. As far, then as
1t regards knowledge of the wants and
wishes of the people, wisdom to discover re-
medles for existing evils, and deyising schemes
for increasing the public prosperity, it would
seem that the legislative bodies did not re-
quire the aid OF an Executive Magistrate.
But there is principle, recognized by all the
American Constitutions, which was unknown
to the ancient republics. They all acknow-
ledge rights in the minority, which cannot
rightlully be taken from them. Experience
had shown that in large assemblies these.
rights were not always respected. 1t would
be in vain that they should be enumerated,
and respect for them enjoined in the Consti
tuition. A popular assembly, under the inhu-
ence of that spirit of party which is always
discoverable in greater or less degree in all
republics, might, and would, as il was be-
leved, sometimes disregard them. 70
guard against this danger, and to secure the
rights of each individual, the expedent of