Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1840-09-03
NO. %.

the 18th Congress after its first session
when the conduct of the Bank in its incip-
lent measures, was examined into; and be-
Loving from the result of the investigation
that the charter had been violated, voted
for the judicial investigation with view of
annulhng its charter. The resolution for
that purpose however failed; and shortly
after the management of its affairs were
committed to the talent and integrity Of
MIR. Cheves. From that period to its final
dissolution (although must confess / am
not very competent judge OF such ma,ters,)
have no idea that all institution could have
been conducted with more ability, integrity
and public advantage than it has been.
Under these impressions, agree with
Gen. Jackson, in the opinion expressed in
one of his messages to Congress, from
which make the following extract: "That
Bank of the United States, competent to
all the duties which may be required by
the Government, might be SO organized as
not to infringe on our delegated powers, or
the reserved rights of the States, do not
entertain doubts But the period for re-
chartering the old institution has passed,
as Pennsylvania has wisely taken care to
|
capital.
The question then for me to answer, is,
whether under the circumstances you state
ifelected TO the office of President, would
sign an act TO charter another Bank
answer would, if it were clearly aScer-
tain ed that the public interest in relation to
the collection and disbursement of the rev.
enue would materially suffer without one
and there were unequivocal manifestations
in its favor. l think, however, the expert
ment should be fairly tried, to ascertain
whether the financial operation of the
Government cannot be we'll carried on
without the aid Of a national bank. fit is
not necessary for that purpose, it does not
appear to me that one can be constitution
ally chartered There is no construction
which l can give the Constitution, which
would authorize it on the ground of affor-
ding facilities to commerce. The measure,
if adopted, must have for its object the car
rying into effect facilitating at least the
exercise of some one Of the powers posi-
lively granted to the General Government.
If others flow from it, producing equal or
greater advantages to the nation, so much
the better; but these cannot be made the
ground for justifying recourse to it.
The excitement which has been pro-
duced by the Bank question, the number
and responsibility of those who deny the
right of Congress to charter one, strongly
recommen the course above suggested.
9Th. distinctly answer to this question,
that in my opinion, neither House of
Congress can constitutIonally expunge the
record of the proceedings ofiheir predeces-
sors. The power to rescind certainly be-
longs to them: and is for every public, le-
climate purpose, all that is necessary
The attempt to expunge part of their
journal, now making in the Senate of the
United States, am satisfied could never
have been made but in period of the high
est party excitement, when the voice of
reason and generous feeling is stfed by
long protracted and bitter controversy.
In relation to the exercise of the veto
power by the President, there is, think,
an important difference in opinion between
the present Chief Magistrate and myself
| express this opinion with less diffidence,
because believe mine is in strict accor-
dance with those of all the previous Pres
idents to Gen Jackson.
The veto power, or the control Of the
Executive over the enactment of laws by
legislative body, was not unknown to the
United States previous TO the formation of
the present Federal Constitution. 1t does
not appear however to have been in much
favor. The principle was to be found but
in three 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 acts of the Legislature
The people Of South Carolina seem howev-
er, not to have been long pleased with the in
yestment of power in their Governor, as it
lasted bat two years; having been adopted
in l776, and repealed in l77S; from
which time the acts of the Legislature of
that State have been entirely freed from
executive control. Since the adoption of
the constitution OF the United States, the
veto principle has been adopted by several
other States, and until recently it seemed
to be rapidly growing into favor.
Before we can form correct opinion OF the man.
ner in which this should be exercised, il j. proper
to understand the reasons which have induced its
adoption. In ts theory it is manifestly an innova-
ton upon the first principle of Republican Govern
ment- that the majority should rule why should
single individual control the will Of that majorityl
It will not be said that there is probability Of