Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-07-20

IIo"e Shce UOken, never put out dollar at in
terest IN my lile My interest being entirely ihen-
tfed with the cultivation of the soil, am irinedi-
ately and personally connected with none other.
nave made this statement to show you that |
am not committed TO any course in relation to the
charlerlng Of Bank of the United States and
thnt might if so disposed join you in the popu
ar cry OF dennncialion against the old institution,
anu upon It's misconduct predicate an opposition
10 the cllnrtering Of another!
! shall not, how ever, take this course go oppo-
site to that which 1 have followed through life,
ou, WIN give my sentiments clearly aud fully, not
only WIN regard to the future conduct Of the gov
ernfnent on the subject of n national bunk, but in
relation TO the operations ofthat which is now de-
funct.
| was not in Congress when the late bank WIS
chartered, but was member ofthe 18Th Congress
nIier l's tlrsl session. when the conduct Of the
""nN w us lncipent measures, WINS examined into
ahd believing from The result of the investigation,
lhat iie charter had been violated, voted for n
JudcIai investigation with view of annulling its
charter The resolution for that purpose howev-
or JAILED and, shortly afier the management Of
us AFFAIRS were committed to the talent aud integ
rny OF Mr. Cheyes. From that Period to its final
dissolution (although must confess ] am not q
very competent Judge of such matters,) have no
'ued TINT an institution could have been conduct
ca WIN more ability, integrity and public adyan
tage than it has been
/
Jackson, III The opinion expressed in one Of his
messages TO Congress, from which make the
following extrnct -" That Bank of the United
States, competent to NIL the duties which mny he
required 10y the Cove 'nment, might be so orgapi-
zed as nor TO infringe on our delegated powers, or
me reserved rights OF the States, do not emer-
tam donbt."* But the period for rechar,ering
lhe od institution has passed, Pennsy lvunia has
! wisely taken care to appropriate to herself the
benefit of its urge capital.
The question then f,r me to answer, is whether
under The circumstances you state, If elected 10
the office of President, | would sign an nc; to
charter another Bank. | answer | would, il it
were clearly asceridned that the public interest in
relation To the collection and disbursement of The
revenue would materially suffer without one, AMI
mere were unequivOcal manifestations in its favor.
! think, however, The experiment should be inirly
tired, to ascertain whether the financial operations
oil the Government cannot he as well carried Oh
without the aid of q national bank If il is moi
necessary for that purpose, it does not appear
me that one can he constitutionaIly chartered
There is no construction which ! can give The
Constitution, which would authorize it, on the
ground of affording facilities Of commerce. The
measure, if adopted, must have for it's object the
carrying into effect facilitating at least the exer-
clsc of some one of the powers positively granted
TO the General Government. II others flow from
it, producing equal or greater advantages to the
nation, so much the better; hut these cannot be
the ground for juStitying Il recourse 10 it.
! The excitement which has been prolnced by
the Bank question, the number and responsibility
OF those who deny tho right OF Congress to char
ter one, strongly recommend the course above stg-
gested.
On erpnnging the records of Congress.
| distinctly answer 10 this question, that in my
o:inon, neither House OF ns-sss can constii,i-
lionnl'y expunge the Record OF the proceedings Of
tlIeIr predecessors. The power to resclhd Ger
a fIpf. r. .Ixl.a
legitimate purpose, all HAT is necessary. The ut.
tempt 10 expunee part Of their JON nal now ma
king in The Senate of the United States am sat
lshed could never have been made but in n peri-
oil OF The highest party excitement, when the
voice ct reason aud generous feeling is stifed by
long protracted aud bitter controversy
On the Pet0 potcer.
In relation 10 the exercise of the veto power Nv
the President, there is, think, all important diff
ference III opinion between the present Chief MAJ
lStrhie and myself. express this opinion with
less d nIence, becatse believe mine liz in strict
accordance with those Of all the previous Presi-
| dents to Gen. Jack son.
The veto power, or the coutrul Of the Expri,-
live over the enacncnt OF laws by the legislative
body was not unknown ia the United States pre-
vious 10 the formation OF the present Federal
Constitution. II does MOI appear however To have
heen IN much favor. The Irnciple was to IN,
found in but three Of the State constitutions and
in but one OF them Alassachuse ISL was the Exec.
uiNe power lodged in the hands OF single Chief
Magistrate. One other Stale lSoutl Carolina)
had, indeed, not only adopted this principle hui
had given its single Executive Magistrate an all
soule negative upon acts of The Legislature The
lpeope OF South Carolina seem, however, not 10
have been long pleased with this investment of
power in their Governor, lasted but two wears
having been adopted i'll l775, aud repealed in l77S;
from which time the acts OF the Legislature of
lint Stnt nya l.aan nIJ
control Since the adoption OF the constitution of
the United States, The veto principle has heen IT.
dupted 10y several other States, and until very re-
Gently, il seemed To lie rapidly growing into favor.
Before we cnn form correct opinion Of the
manner in which this should he exercised, il il
proper to understand the reasons which have in
duced its adoption, In its theory il is manifest
y an innovation npon the first principle of Re.
publican Government hat the majority should
rule. Why should u single individual control the
will of thu, majority? Ii will not he said that
there is more probability of finding greater wis
dom il the executive cuir than in the halls of the
Legislature. Nor can i, possibly le supposed that
an individual residing in the centre of an exten-
siye country, can be MS well acquainted with the
wants and wishes of anuiner0us people, as those
who come Immediately from amongst them the
paitukerS, for portion of tile year, in their vari.
Gus abors and employments, and the witnesses of
the effects Of the laws in their more minute as
well as general operations. AS far, then, as il re.
CARDS knowledge Of the wants and wishes of
the people. and devisng Tor increasing the public
prosperity, il would seem that the legislative bo-
dies did not require the aid Ofan Executive Mag.
strate But there is principle recognized by all
The American constitutions, which was not un-
known To republics. They all acknowledge rights
in the minority, which cannot right.ully lie taken
from them. Experience lad shown that in large
assemblies these rights were NOT always respected.
III would hp win should he
ted, aud respect for them enjoined in the Const-
tuition. popular assembly, under The influence
OF that spirit of party which is always d,scovera-
BILE in greater or less degree in all republics,
might and would us il was believed, sometimes
disregard them. 10 guard against this DANGER
and secure tho rights Of eaal, individual, the OK
ped'ent of creating department. independent Of