Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1841-06-24

~ tks drsskht ~ 1hs III % tbs sssso,sfy, q
regard - tha egnaeh,ng psweF ~ the Dank, nd
t1eT wonI3 have basn bsppy n tAsE could base
fecoseiied 4 O. theiE ssnso 81 duty - edopl Il.
Dut. sflsr he fullest eoasldsrniion, they have
beea unabis % arrive 90 that result.
u was not Without soms hesiiatiso that ne
eonnistss sgrssa - NE leeasioe ef the bank
IN The District 81 colambia. This they dld be-
csuas thsy believed that the utility % the Bank
did net 90 much dspoRd upon the place % iis
location AZ upon The capital. fsealiisss ase pos
ers shieh shosld Be given % a. Bat 70 ISOLATE
branching power thaD such a. q might derive
from the eeDssaf Of particular States, you'd Be
20 crenie an enormous Diagrict bauk. devoid Of
elective nsifonal charaeter Such . bank
wenld ~ q bank onIy of the Disirict Of Col1m-
bis. and iis o1ioss % dlseo9nt and dsPosit would
Be Dothlng more than banks OF the sistss which
night slio. then 70 Be- planted viihia iAsir
Congrsss niEhr - well rs-eharisr one q The
exisiing Dtiriet banks, eolAFEe Ne capital, and
give II authority 10 ssishiish olices Of discount
sns dspo.iis b sny state thai would permit IL
The somni.iss believe that the capital Of
bank % constituted would never b taken; and
that, u tsken, tbe insiitniion woUld Be Wholly
unable 70 accomplish the great ard ssIuiaFy
purposes fer which Il h desired nnd shoUld Be
designed.
Bat the question: OF establishing a baak shus
70 BE- rosiricisd and cireunssgibed Involves
higher and graver eoasidsrstions than those Of
mere exPsdisaey. The General 0ovsrnmsst
has or has not the power 10 eJiahiish National
Sank. n n has tie power. u derives frou 70
The ezlsiing granta N the COnstiibtion Of the
United States. The COMMITTEES behave u hss
the power, and ought 10 exercise it. But efief
eootsst dnriag the last ten OF twelve years. In
reaPee, TO the constitutional power Of Congress,
which has bsea marked By 90 much animatioa
and bilisTnsss, = forhesrnnea 10 exercise The
power WOULD Be Q virtual surrender Of shs
power. nn bank were 10 Be created, whose
operations within the limits Of the States we're
dependent not uPon the viii 0f csBgFess, but
npon, the will OF each Stats, separately abaoun-
eed, the efsasion % such q bank would odd
another 70 tas list Of disastrous experiments.
aud would be tsniamouHt 10 . rsIisqaiAhmeBt Of
ne sstionsi power, and q could sevsr.b Be re-
The power Of The Federal Government i only
70 be found IN The grants Of the Constitution. II
they are Inadequate 70 the fuI6Iment Of he great
purposes Of is establishment, they can only be
increased IN the mode Of amepdment which the
instrument ITSELF has prescribed. They cannot
% auemenlsd 81 the gTants or eonsent OF any
State or Stniea AhoTt Of the number Of two
thirds, whose cOncuEFence IL necessary 10 give
validity 70 Al snsndmsnl. A Derivation Of
power 70 the General Governmeni from he con
sent Of particular States would Be- unssund ia
Pr.neiple, aud The eommitioe GppFeAsad danger
oue IN practice Admit such consent q Be- 4 le-
eitimaie asusee q power. The Cevernment
gonld not operate equally in ali the States, and
the ConSutuiion, losing its uniform character.
would sEhiSii an Irregular and ineoneruous ac-
tioa.
RaleElainiag thsss Deliberate vievs. he eon-
mitise ara decidedly Of opinisa thar no bin Tor
NE esssbi4hment Of Bank 10 the District Of
Columbia Will be eGeeinaI which does not con-
sAin clear Feecgnitioa Of he constitutional
poWer OF Cooaress 10 esiablish brnnchea WHERE.
YER tnrthe United States. he public wnnts. IN
iis iudemsni, TrquiFs them. Tkey eannot coa-
ssnt tat Bank, enaRatinE from he viii Of
The nation, and impsFnnYeiy demanded Nv a.
necessities or he GoveEnEsn, ana on the nstio~
SHALL % wholly dependsDl fol iss usefaI opala-
ion npoa Ne vii Of each and every state, dis
iineily expressed.
Accordingly, ie he draushl Of 4 bsli n6- NJ
PoFiees The right Il asserted 70 sxeseiss DE
branching power q tie Bank indspsndent 81
ne a.sent Of he States, The Comnitise dare
not allow lhemeelves 70 kelisve that he bin A
nee froD ah deisets, ba: thsy 90 hope tAal
Ihese, N spiTit Of IibeFaitY, vill BE- cesrsc,sd
y me sppsriof wisdem Of he Senate and N he
heasey and maj The pEeseni sessioa win BE- sie-
saiized b he esiablishnenl 81 q national ins;i.
tanoes vAieh hes beesme q deaidsraIum 10 the
general prosperity.
The Advantages which win Gov from sreh An
Institnsion, IN bolh our demessis and fossixa re-
laiioas, are manifest and iacouteslable.
II VIII give The People q seund enrFsaey Of
aaiform value throughout the Union, which Il
,1ss as necessary - lhs successful operation Of
% the pFesefvaiioe Of human life Or health.
II viii revive and exteRd COMMERCIAL inter-
course, which, for The want Of a eommoa me-
dun, bes been almcst Suspended between di(.
fefent parts Of he UniSn.
II vii reduce domestie exchange from, the
enormous Premiams and disaouals nov freauesi-
" Paia 70 TIE modeFats siaHtaFd gTOwiaR oat Of
lne saefe eosi and asaFanes on he risk Of trans-
Ror.ing FPeeis Zen one 10 another part Of The
union.
i win. ccnseqasnliy, save Aunareds Of thou-
sands o. dollars R0w anaHally lest il iransac-
Il win essentially bsne6, the manufacturers
interest,", By enabling Il 20 realize sales aud ne
proceeds Of sales.
u Win powerfully eoaBlbals to ths sssump-
ton 81 specie paymsHis b. he baaks, whose
existing delinquesey i he sscslesl soOTrs m an
prevailing PeenniaFy AID EaanciAi enbafSass.
h~ill greatly tend % pgevess snd eosgset n.
eEessssa snd abnses 81 ne local banks.
u VII furnish ioediun comnson % an baris
or ne oaion fos he PsyasRg o. debts asd ,laeu
- ta9 Net t5nr1cpt nus FoB4gFfnE duiias and
tazee unliofas IN fsei e. vel IS Ia nanse.
u = tnat'peusatie - Ne arsTaeis.af a. -,
eessial apeaciai opeTsiiors 81 the 0sysfr 49,,
y eh ne aepasisaPHis - eoiiesliea, safs-issso-
ing, and disoagSsIoeasa - ths Pishiis sayeass.
eaeh are some 81 lhs domesiic hensffs 49,
he cqnHaiiise folly believe On bs sscsrsf g.
nsiiqnal Bsat. Tkoss which apperisia 10
Cur isfeisa fsiatisas ere siso verify q ssrloas
coatitefaiioa.
70 Be trua thst nonsy h poasr. Zee eanrss.
iFation uuSaF ;he diFeetisn 81 eas aiIi. soio o.
eolieeiiyes nust augaeat She sewer. a.
iion, Wiihout shsh = eoResntrsiioa Of sever
@alstaisinE exisoaiEs esmnafoiai ints9sosrss
via sscfhsg ustios gesactsine u. nas, ssefsei
that inteIe2BFsa o. q cesiitios 81 lasqusiify ssd
disaeVautaEe. Nsiieasi Banks, Ia sihsf eour-
iFiss, hsges he easessiiY, fksragora. ~ Z Ne
iioaei nans IN tbs aeaafFy. 81 llts 3 msnsas 4.
saiicnel eesafeaenis in fofeies naitsns s,5sf
- me- ~ q Aatieaei 0sFofrcssat ie eufs
AeeereiaFig, rss sa4s taaa - taaaeasa g.
efiea ~ - 8eak ~ zsgiasa uDoa Amsftssa
sntertsisi ahse ihess iatsfssia. we're eanrs~S
. ~ Reiion ~ ihai 6aat, esd we're iaft $40.
90 tte Fgateefisa ~ e sash 81 ~ Uslfes
ststet, the c1a2siiss q sot ELSA Be- - -.
eels.aee ~ iaiseeins - szpress sag aeEfrh.i
ll1a 81 ~ eofa1afeizf rseSstfsas Il w., ~.
30