Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-08-31
From the Globe, Aug. l6.
THE VETO.

a Bank in any form for the pIssent PesI'
dental term, aud that the friends Of the
Constitution may celebrate this veto as
they did that Of General jackson, as
great deIverance from that fatal system
OF corruption which in couTce OF Time
could not Gail to make dollars, and not
votes, sovereign in this, country.
The message, il will be seen, confines
the functions Of any fiscal agent (which
may be established, to the Legitimate
purposes for which alone Con
gress has a right to provide in con.
nectioR with the Treasury--for The
collecting safe keeping and disbursing
the public revenue. The PRESIDENT
speaks volume in this ~ pilI say that
ia looking to the pOrers ofthe GOpern-
'uent to collect, safely keep, and disburSe
the public revenues Incidentally TO regu-
late commerce and ,rchGngsS, / haze NOT
been able to satisfy myself that the estdb.
lishment by this Government ofd bank of
discount in the ordinary GeceptationlcfhG
term, DGs necessary meGnS or one de.
mGnded By pTOpriety, TO erecute these
poperS." We understand the incidental
regulation Of commerce and exchanges by
the operations Of-the Treasury, as mean
ing only that which necessarily follows
the action Of the Government in perform
ing the indispensable duty Ofthe Treasu.
~ Department in relation 10 The revenue
which ought, in every way, 10 be accom-
mOdated 10 all the public inleress in eve
~ point on which it touches them. The
message evidently would confne the fac.
ulties Of the fiscal agent Of the Govern
ment TO the direct objects Of the Depart
ment Of the Government Of which il form.
ed part, and would not confer oil it any
additional substantive power TO regulate
commerce, and exchanges. but would
make the Government agency employed
in its own specific duty, operate as advan-
tsgeously as possible on those nieresS Of
community most intimately allied with it,,
viz: the commerce and exchanges of the
Union.
In this the President directly revsrses
the Federal scheme. A National Bank OF
discount has for iIs principal object The
creation and the Lending ola national cur.
rency, by which it would supersede the
currency Of the Constitution. And in.
instead Of making the collecting, safe
keeping and disbursing the public reve'
nue. the main scope of its action, the rails.
ing Of revenue for its stockholders out OF
the public revenues as we'll as its own cap.
ital, would (apArt from politics. be its
great function. The collecting, safe keep.
ing, and Disbursement of public money
would be a mere incident, or rather the
mere means oil which it would operate
and divert from its Legitimate objects, to
compass its own. In word, in making
: National Bank to do The simple business
of counting in and counting out the pub
lie money, and then surrendGring TO il
the power oftaxation, the faculty of lend
ing, and Of making the money of The na'
ton by its issues, the nation in effect sur.
TendeIs it sovereignty 10 have very iri.
vial functionEperGoHned for it--and that
taken out Of the hands ofan ordinary indi-
vidual agent, every where found in all ages
and all countries perfectly competent
10 il. Federalism fufis the old saw
about extravaganza in this, as in Other
Ehings--it kills an OK to make sauce ior
pig.
There is another great point gained in
the scope 10 which President TYLER lin
its any fiscal agency which may be es
tablished, BY Confning il TO the execution
of legitimate GSperHmsnt functions. lie
destroys The possibility Of perpe,uating
any System which may bo adopted by
by Congress under The prctext Of "reslet
rights" When an agency is employed
merely to collect, keep, and disburse The
public money, it cannot be pretended tina
Congress cannot change, modify. or re
peal at pleasure such fiscal machine, 81
circumstances may vary, end experience
Grove to be necessary. We shall hear NJ
more Of the Government, being contract
cd away 10 corporation, aud bound L
submit 10 the abuses Of such "chGrtereC
lbertins," :" for twenty, or thirty, or fft!
years, ss tbssO in power for the time be
ing may choose to barter il, for The one
or the other OF these terms.
Besides the political blessing, this veto
brings with il 4 moral, which we hope i:
pregnant With blessings for the fut're.-
Il punishes home the most atrOcious fraud
ever attemPted unon a nation. Genera
Harrison and Ne. TYLER were selected
ss the candidates Of the Bank party, be'
cause they were the solemny pledged
opponents Of National Bank on consIiiu'
tional grounds. They were known to be
80 to the whole Federal party, and were
90 presented, for tho votes ofthOse opPos-
ed 70 the establishment Of a Bank, and
when they had attained power in part by
the sufrages ofthose opposed TO Bank
It'll made manifest by Mr.. CLAY's bill, that
Ahe whole representative body of FEEDER.