Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1840-08-27
GEORGETOWN, O, THURSDAY, AUGUST 81, 1S4O

Bank of the United States, were express
ed in the Senate of the United States
in 1928, repeated in his letter to the
ShoccO Springs Committee, whilst can
didate, for the Vice Presidency, and have
been so freely uttered by him, that there
cannot, think, be occasion 10 say much
upon that subject. But to close the door
to cavil, | state lst. That he holds that
Congress does not possess the power to
establish National Bank in any of the
States of the Union, nor TO establish in
such States, the branch of any bank To-
Gated in the District of Columbia; and
I'd. That he is, therefore, decidedly Op-
posed to the establishment of National
Bank in any of the States; and is also op-
posed to the. establishment of any such
in the District of Columbia, as unneces-
sary and inexpedient, and as liable TO a
great proportion of the abuses which have,
in his opinion, been practised by the ex-
isting bank
"This declaration, with other uniform,
repeated and published avowels of my
sentiments, in regard to a United States
Bank, would had supposed, be sufficient
to save me from further interrogation on
that subject; but as you have thought pro-
per to push the inquiry further, and, TO
that end, to place the matter before me
in form studiously adapted to present
the question in its most favorable coniin-
gent aspect, you will, am sure, be neith-
er surprised nor dissatisfied, if | deem
it due to myself as we'll as to the subject
to give it more particular and enlarged
consideration than ] have heretofore felt
it necessary or proper to do.
81 am induced to embrace for this
purpose the opportunity you have presen-
ted to me the more readily, from a deep
conviction Of the incalculable Importance
to the people of the United States, that
this long agitated and distracting subject
should be finally settled, and from hope
that what have to say upon it may, from
the situation in which the partiality Of my
felow-citizens has placed me, contribute
in some degree to so desirable result.
81 greatly fear, that whilst there is in
any quarter reason TO hope that a charter
for new bank can in any condition of
the country be obtained from the Fed
eral Government, there will be neither or
der nor stability 10 the pecuniary opera
tons Of the country. If it can be ascer-
tanned that discredited currency and
pecuniary embarrassments will bring a
charter, what security have we that such
state of things will not be produced
Is it doing violence to truth and justice
10 attribute to expectations OF this char
acter, the crusade which we have witness.
ed for the last two years against the de.
posie banks, against the efforts ofthe Ad-
ministration TO restore a specie currency
and against all the fiscal arrangements o
the Treasury? Will any candid and we'll
informed man pretend that such thing:
would have been, ifit had been consid
cred as settled that iheBank of the Uni
ted States is not to be revived? | think
not. The settlement Of the depositt
question. by the bill of the last session
will doubtless cause suspension of thi
destructive career; but is there not rea
I son 10 apprehend that it will recommend
with the first appearance of any thing
like reasonable chance forthe re-estab
} lshment of a National Bank? Ever
J thing, therefore, which may serve TO ar
rest or prevent The agitation Of this sub
lect, if only for season, is of great val
: ne. In the published opinions to whic
: have already referred, my opposition t
, The establishment Of The United State
, Bank, in any Of the States, is placed o
} tie want of constitutional power in Coz
, press to eshbl sh one. Those who cor
{ cur in denying this power, nevertheless
$ differ among themselves in regard to th
Z, particular views by which their respeC
2 i've opinions are Sustained. Some adm
G that Congress has a right TO create sue
{ an institution, whenever its eslablshmeI
!. becomes necessary 20 The collection, di
r bursemenl, and preservation o. the rev
e nue. ; but Insist that no such necessity e!
# is,ed when tho charter of the old Bar
! expired, or has sen since. With tn
l. class, The considerations to which you a
If Iude would be essential, and might ha'
n a controlling eGect-for such persol
i make the power to establish Bank d
o pendent upon them. My objection, I
D., the contrary is, that the constitution do
It moi give Congress power TO erect corpt
'e aions within The States. This was Il
ID main point of Mr.. Jefferson's celebrate
IN opinion against the establishment of 4
in first National Bank. 1t is an obiecli
which nothing short of au amendmc
ID to the Constitution can nremove. We kn'
:, it 10 be an historical fact that the convt
le lion refused to confer that power on Cc
I'd gress, and am opposed to its assumpti
le bv it upon any pretence whatever. If
er possession shall at any time become !
lg cessary, the only just way TO obtain il
! to ask it at the hands ofihe people, in
IL form prescribed by the Constitute
dy Holding this opinion, and sworn to q