Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-09-08

when mas Deen gwen % the Constitution
IS entitled to no weigh with the members
who now compose the Senate. will itnlso
be commended that the different acts of sue.
cessive democratic Congresses, by which
they have sanctioned the validity Of the
construction under which this bank. was
created. are entitled 10 nc weight or con.
sheraton Perhaps il would be unfair to
Law any stress upon the simple acquies. |
cence Of our democratic. predecessors IN
this measure. Ishall therefore show that
the acts 10 which alnde were positive
affirmative acts, and not simply. or in any
degree, acts OF acquieseence. BY the !
charter, the corporation was authorized
10 establish Offices of discount and depos-
lie wheresoeyer it should think fit, within
the nited States. In the year 1903, the
United States obtained Louisiana by pur-
chase. Under the authority given IN the
charter, the corporation could not extend
its branches into Louisiana. In the year
1904, democratic Congress passed a law
to authorize this derouring monster to lay
its destructive fangs upon the unfortunate
people ofthese newly acquired territories.
It has been said that the State Govern
ments were competent 10 resist the execu-
ton Of this law. How ungenerous, then,
was it in our democratic predecessors to
authorize this institution, with its peStiIen-
tial fangS, to seize upon these helpless and.
unfortunate people, who had no State
Governments competent to resist the erecu-
ton of this ldc, aud sh1eM them from the
deadly poison of this venonous upper? 1t
was unkind /; it was cruel.
"Does the positive sanction ofthis meas
ure by our democratic Congresses rest
alone upon this act of 1s047 No, sir. The
act by which the bank was incorporated
made no provision for the punishment of
those who might counterfeit its bills and
checks. In the year 1893 law for the
punishment of such offences was passed.
In the year 1907, democratic Congress
composed of many of the same members
who are now called upon to act again up
on the subject of the bank, passed law
also for the punishment of the same Often
ces against the bank. This is not all, sir;
SO great was the unanimity of both Hou-
ses upon this question, that the bill passed
/ through both Houses without producing a
call for the yeas and nays upon its final
passage, or in any of its intermediate sta
ges. The Constitution says, Congress
shall make laws TO provide for the punish.
ment of counterfeiting the securities and
current coin of the United Stat S. have
shown that the power to punish counter
(eiiing the current coin was fairly incl
denial to tie power of coming money
But the power to punish counterleiting the
securities was an original grant of power
aud not incidental TO any one of the dele.
gated powers. As the Constitution has
given the power TO punish counterleiting
the securities and the current coin, express.
ly, according 10 the doctrine contended
for by the enemies of the bank the power
to punish any other species of forgery i:
withheld. But let Us pursue this idea &
little further. The law Incorporating the
bank is denounced as unconstitutional i
| therefore Is not binding upon the People
of the UGited States as law; and yet the
very men who denounce it. who declare
| it to be unconstitutional, have passed a law
to condemn those who violate its provis-
ions to Ten years imprisonment, and to
enormous fines. With what propretv
can we say that our republican predeces.
sors have simply acquesced in this meas
ure! Hith what consistency can we now
refuse 10 renew tie charter on account oi
the want Of constitutional power? But il
is contended that We have done nothing
more than simply acquiesced in this meas
ure, and that oar acquiescence was Who'll
y the result of a conviction that the ac
Incorporating bank was a contract
What, sir, is the essence of a contract
That there shall be parties able to con
tract; that they do contract; that there
shall be a considerations quid pro quo
that the conditions shall be reciprocal
What is the fact in relation to the banl
bilf? Does the charter stipulate that tht
Government shall provide for the punish
ment of those who counterfeit bank bills
No. And yet republican Congress
under the idea. suppose, of its beng ;
contract-has passed law for that pur
pose. The law does not contain one es
sentlal feature of contract; it is there
fore no CO tract"
Whilst upon this subject we viii alst
present our friends with true annalysi
of the political complexion of the votes OIL
the bill to charter the Bank of the Unite,
States in 1916. Yeas. NAYS
In the House of Rep, demo. 81 29
fed. Is 90
In the Senate, demo. Is s
fed. Z
The question ofthe Bank was also large
ly discussed in the Senate of the United
States in 1911. when Mr.. Crawford mad,
his celebrated speech in favor oft, he be
ing the Chairman of the committee tina
reported the Bill. to amend and continu,
in force the act Incorporating the Bank O.
the United States. The vote was taker
% the ooh of February, upon motion tc
strike out the first section of the Bill, anc
decided as follows:
Votes in the offrmatire. An.
derson. Campbell, Cuts, CLAY, Franklin
Gaillard, German, Giles, Gregg. Lambert
| Leib. Mathewson, Reed, Robinson, Smith
of Nd. Whiteside, Worthington.
Votes in the egatire.-Messrs. Bayard
Bradley, Brent, Champlin, Condict, Craw
! II H. =