Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-08-07

: Bank. would, ! bad supposed, be suthc'ent to saTe
me from further Interrogation on tna' subject, put d : Ecu
have thought proper 10 push the inquiry iGt1irt' an" !"
H., md. 10 MACE the matter before M IN 4 form si!dsoas-
Is adaotrd 10 present the question IN us most favorable
con;iu ,ent aspect, you vii am sure "r he',ne' sur,
,riset nur dissatisfied. If | deem Il Cue I" myself as vel
- 10 the subject. 10 Q ve Il more particular ana enla'grd
consideration than 1 nave hesc1o!''e 's4H' "' !"
p.oper To d..
Il am induced 10 embrace for tins purpose me opp"7'
;unstv you have presented Ia me The more readily, ron
4 deep con victlon Of The inc1icn!abie i'HroiAhse !" me
o..ople Of The L. >, that thts long ag'taled and distract
,,, spii.c. sliouId be fna!iy settled, and rom a hope
hat y hat | haze 10 SAT- upon It may, from TIE situation
in which the ~partslity Of M fellow citizens has placed
u contribute ~ some degree ~ :" drs'ra3Ie a result
Il greatly fear, that whist there y IN anf quarter
-e,son 10 hope that a charter for a new baak can 10 any
condition Of the caun;r; DC obtained from the Federal
Government. there will be neither order no! stability IN
he pecuuiarr operations Of the country. II can be
,.c.,ain.d that a d srredIted currency ana pecuniarv
-nbarrassmen,s, viii bring a charter, what security
,,ve we that such a state Of things wall not be pro.
luced, Is il dong violence 10 truth and Justice, I" al
.rirn,e 10 expectations nf this character. the crusade
which ne have witnessed for the last two y"arsagansi
ne d.yosil. bank, against the efforts 81 the Admins
,ra,ion 10 restore 4 specie currency, and aga nst all tn"
iscaI arrange men,s Of the Treasury: VIII any candid
md well informed man pretend that such things would
have been, fit had been considered as settled that the
Bank of the United States is not 20 be revived. think
,o,. The settlement of the opposite question, by the
,ill ofthe last SESSION, will, doubtless cause 4 slspNn-
ion Of this destructive career-bnt IS there noi reason
10 apurehend that it will re-com:nrnre " u the flrst APP
,caTGnce nf any thing Ike a reasonable chanc" tor the
establishment Of a National Bank. E"ery thing,
.herc!ore, wh:cl may serve TO arrest or prevent the aEI-
alton ofthis subject, # onlY fnr q season, i OF great
value. In the published opinions t. which have al
-eady referred, mr opposition 10 the establishment
4 the United States Bans, in any Of the States,
5 placed on the want Of constitutional power IN Con.
yrcss 20 establish one. Those who concur III deny
mr. this power, nevertheless differ among them.
elves III regard 10 the particular views by wEic!i
their respective opinions arr sustained. Some admit that
Congress has j rightto create such an institution, wien
yer ~ establishment, becomes necessary u The c"lIrc-
ion, disbursement, and preservation of the revenue:
but INSIST that no sucl necessity existed when the char
,.r of the old Bank expired, OF has arisen since. With
this class. the considerations 70 which YOU ailufe wou' q
g essential, and nightmare 4 cnntrn Hing etfrct-i"r
.uch persons make the power 10 establish a bank depend
N, upon them. My objection, on The contrary, i that
he Constitution does not give Congress pager 10 erect
corporations within the Safes. Ti.s "as the nam
pnrn, Of vi. Jefferson celebrated opinion against t".
establishment Of the first National Bank. II IS an
Injection winch nothing short of an amendment 10 the
Gems .ituiion can remove. We kno" I 10 be- al hstpr
al fact, that the Convention refused to confer that pow.
ron Congress. and am opposed 20 us assumption ~ Il
npon any prctruce whatever. If its possession shall at
an: time become necessary, the only jus. way to obtain
/ - b. a.k il 4, the hands of tho people. IN the form
prescribed b: the Constitution. Holding III opinion.
nd sworn II support that instrument as II -, ! could
ut find in the ctrcums!.nccSt IN winch you refer, either
warrant or cXcus. .E The cy"rcis, Of the authority IN
question: and am not only wl!linr nat DESTROYS that
.ic prople Of the United States shnuid b. fully IN
formed Of The precise ground | occip: on this subject.
desire more especially ,ll, they should know II now,
when an opportunity, the best on! .orn OF Government
.tiDrds, VII soon be presented, 10 express their cpfn'"n
ot its propriciy. lfthcy are IN favor ola National Bank.
IS a permanent branch of their institutions, or # they
desire a Chef Magistrate who Will consider II his duty
to watch the course of events, and give or withhold us
assent to such an institution according to the degree OF
necessity for il that may in his opinion arise from III"
considerations to which your question refers, they will
soc that nv cooperation in the PROMOTION oi either "'
these views cannot be expected. II, on tn" other hand,
with this scasonablc, explicit, and published ar6wal be-
fore them, a II majority of the people Uf the United States
shah nevertheless b"sow upon me tnrtr sui!:agrs tor
In" Office of President. sCeptcism itself must crl.c t.
doubt, and adm, Their vii 10 be thar there shall not
Nc any Bank Of the | nitcd States, until the people. IN
the exercise 81 their sovereign authority, see 1t 70 give
10 Conyrcss the right 10 establish one.
alt i because ] cannot doubt that the expression OF
The popular VIII, made under such circumstances, must
have 4 tendency 10 arrest further agitation Of this
disturbing subject, for four years al least, and most
probably, from the great moral influence which The
often expressed opinion of the majority If the people
in a Republican Government j. entitled TO, fnr I much
longer period, that am thus fu!l and explicit upon
he point 20 which you have called nay attention. H""-
ever much we may d. fer upon the abstract question III.
volycd IN this controversy, no rejecting man can doubi
the icalil.ful and ingim0ratlnu effects which any thlng
that looks Ike 4 settlement of this question must have
upon all The business, as well ~ political relations oi
the country. The public mind has been long and pain
fully agr,at"d b. il, and needs rcpose. The lrGtis al
this agitation have been bitter and abundant. Men OF
business require to be put in a situation that they may
adapt their affairs 10 n state Of things which promises
permancncy. That character is alone necessary 10 CIV"
success 10 the present system. No rational plan for the
regulation of the fiscal affairs nf the country can. fail
10 succeed, if the mass OF our industrious aud %cntcrprIs.
ING population. without regard 10 local, sectional or
political distinctions. are only sincerely d"s'rons tor MS
success. Once satisfy them that things are in this re-
spect 10 remain stable, and il IS not IN the nature oi
things possible that they can refuse their aid and sup.
port 10 that which concerns them so nearly. and upon
which their prosperity, private As well rs public, IS 50
essentially dependent If our correspondence. shall have
the effect 10 contribute in any degree TO bring about
a state Of things in which we Ill have 50 deep an inter
est, and which should be desired by all, ] viii rejoice
that il has taken place
Nv convictions OF the truth and justice Of thes"
views upon this vitality important question:, have been
confirmed By all nv subsequent cx experience, and will, !
doubt not, from the principles upon Which they are
founded, endure TO the end Of my life.
Nv opinions upon The Tariff. which IS the subject Of
your third question, were asked when was a candidate
for the Vicc Presidency, hy a portion of my 'ri!"w-cI.
teens of North Carolina. aud freely gwen. Their mp
plca,i"n reached me but a slinr, period before ii;r then
approaching election, and In secure ~ every portion OF
the Jni"n. as general and early a knnw!cdge Of my
views rs was practicable, J caused them |" be forthwith
published at Albany. They were reiterated IN lo"6,
wIcn a candidate for the Presidency, and contain the
general principles by which II IS my intention to rcgr-
late my official course. was seriously friendly 20 the
passage If The Compromise B:I, and have always been
and still! nia disposed 10 carry it mt" full and tar elect
The opinions of which have spoken were expressed
in the following terms:
"Al,hongh M oiiic,a al acts in relation to the p7ot"c.
tive system might well be regarded as rendering The
avowal unnecessary, 'hink, IL nevertheless, proprrt"
saw, that believe The establishment of comlnrrcIal re-
rula,ioris, with Il vcw to the encouragement oil doIlIes-
TIC products, 4" be within the constitutional power oi
Congress. Whilst, however, | have entertained this
opinion, ii has never been my wish 10 Src the power
IN question exercised with an Cypress We inrqiaIit.f
upon any portion Of our citizens, or for The advai't'"''
Of nnr srcti"n Of The Union al the exp"nSe al another.
On the contrary, have AT all times believed II to b.
the sacred duty q; those who ARE entrusted with the
adm nistratiOn Of the Fed, raj Government 20 direct rs
operations IN the manner best calculated tp distribute,
rs eaaalIy as possible, lis burdens and blessings amongst