Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-15


| appeal TO the moral Judgment of mankind Bat IL
they do il is impossible for me to doubt the issue
of such "A contest.
| Arc we sure that If VIC pass a Bank, " hose ono
| ratOns are wholly dependent upon the separate
movement Of twenty six States, we shall secure the
dysicd reposel | fear not fear that such an IN
| siIuton will . but the commencement Of our Bank
troubles; be but the veStOuie of the Bank con,ro-
lNersy. We shall throw among the people a new
apple of diScord. All the old prciudces against n
Bunk will be revived, and they will DO aggravated
| and augmented 10y the new questions and new is =
sues with which this perous scheme is surrounded
Can power be- derived TO the General Government,
directly or indirectly, 10y the consent of STATED
! Shall the States consent TO the admission OF
brancheS1 With or without conditions, Shall
| they he received without being liable TO the same
tax the local Banks payl Shall the Bank be al
lowed TO plant them wherever 1t pleases in a State
or city, 10 be designated by the Legisiture1-
These and other questions may agitate and distract
this people from Maine to Louisiana. They will
absorb all other political questions, and | appre-
bend, completely engross the public mind. trem-
Lle at the consequences. and can foresee the
/ final issue OF such Tremendous struggle.
What Is TO be done in this unpleasant state of
things The path of duty lies broad, clear, and
straight before us. We have nyictons strong
and mistaken convictions OF what ought to be done
And these sonvIctOns coincide with the opinions
and the wishes OF tie people. The theory of our
Government, the Sput OF all free institutions and
the genius OF liberty inculca,e that the Legislative
and Executive Departments Of Government should
be independent and uncontrolled IT. their respective
spheres OF action, the one by the other. Can we
gyoUp our deliberate judgments to mere presump-
ton OF what may be the judgments OF others No
SIR, that is too great sacrifice to ask OF ndepeud-
ent ireemen, representing independent and snisht-
ened ircCmcn. Oar true course Is, TO mature the
measure according to all the lights Of our under
standing, and 10 the deliberate dictates OF best
udSments, and transmit II peuect rs, in our con-
sciences, we can make It, to the ordinate branch
of the Government. Upon receiving IT, his duties,
his responS bslty, his rights will accrue; and among
them, the most precious rs, that OF examining the
measure with all the freedom and independence
which belong TO his high station.
Let uS hope for concurrence between the two de-
partmcnts OF Government; bat il there should no,
bs, their disagreement will not be the greatest of
public c.,lamIusS-a greater would be a voluntary
surrender or sacrifice OF the conscientious judgment
and constitutional independence Oi the one to the
o.hCr. IL, after both have acted, there should be
any deve opemenj OF a difference OF opinion between
then, in spirit OF mutual h5eraiIy and concession
some measure may possibly be devised which will
obviate all difficulties. | will not anticipate any
disagreement IN opnon between the legislative and
Executive ad,horltIesj out It should unfortunate
y occur II will no; 90 the first instance Ut the KIDD
nor uHon this Bank subject, in our history It. IN
tie midst OF 4 disastrous war, PrCSiisaI Madison
ana Congress could not agree, rs TO the proper or
ganIZa ia OF Bank ct the United States and their
disagreement does not 80 iou,y affect the public
interests, surely, IT unfortunately we must | hope
we may differ IN season OF profound peace, IN re-
spect to the proper constitution of such lus,Iu.
ton, without the indcuoh OF any lrremedlab.c evil
upon our country.
MIR PRESTON, following MIR Clay, said
most earnestly hope, Mr. President, that the
menCmcnt proposed by the Senator from Virginia
will receive the sanction OF this body. nave given
TO II oil The reflection which It's importance demands
and II is the conviction Of my Judgment that
al circumstances considered, we ought 10 concur Ia
It's adoption.
In consideration Of this subjec, it is indispensable
to look At the position IN VIII ch the majority IS pac
ed; AMI 10 be governed in decision by practical
results rather than by theoretical opinions.
What, sir, are the circumstances by which we are
sur ounded! Alter a struggle uneXampled 10 the
history Of parties IN which, tor series OF years OPP
posing principles were nrrayet against each other
the last ratte has been fought ana the victory won
The people have pronounced the condemnation OF
those measures which have been here so long and
s;renuoUs.y resisted; and It becomes our duty
TO carry their wi. into effect.
The Incompetency OF the State Binks 10 subserye
the purposes Of the Government equa.izs exchanges
and tgrnIsh currency, OF uniform value, through
out the Union, was brought 10 the late Canvass pro.
mInsu-y before the people, and urged with great
ability; and although the inclination OF my iudg.
m=nt was in favor OF affair experiment ofths system
under pTOptlous circumstances, il seems 20 be the
opinion OF high authority that the people have pro-
nognced rs condemnation.
That the SuO-tTeasury sys,emhas also been uni.
yersl!y and ulGquIyJctiy condemned, can admit of
no doubt. lthas fallen by It's own weight, and car
RED those with u who brought II into beng.
The necessity for some Bunk agency 10 carrying
on the commercial exchanges OF tie country was,
however, among tho Wing purity, universally admit
ted. | mySelfcou.d net doubt It. L. would be lust
as rational 20 torego the Improvements uf society
ami adhere TO the Of an obsolete language as
COW, 10 commercial age and commercial coun.
try, as 70 adhere, exclusively, 10 a metallic cgrreu-
cy, aid ioFeso the facilities Of banking agencies
Banks, IN some form, have become as INDISPENSABLE
TO the commercial world as tie atmosphere I.selris
necessary 10 animal existence.
BI, although this Blinking Agency is most cera n.
y demanded by the people, the form IN which II
Sha.. be exercised may Justly admit Of some Divers.
ty Of opinion.
In this uncertainty a matter ofdstai'-a mere
question rs TO The best form IN whch the bank NJ
power shat. be eTetcised-we assemble here The
President, IN his message, declares his readiness 10
concur 10 sny measure indicated by the Represeu-
tstlyes Of the people, consistent with his consttu-
lonnl Obligations; and now TO unite IN some mea-
sure for the purpose Of carrying into effect the DO
pullr vii, becomes our imperative duty
Among the means presented for Rscer,ainiop the !
best mode 10 carry the popular Wi. INTO effect the
recommendations ofthat Department, speciaIy cha |
sei with the general finances and currency OF the !
country cannot DE praiCrmIiled
The Senate having called upon the Secretary Of /
the Treasury 70 furnish plan most suitable IN IN, |
opinion, for remsdy!ns rhe evils Of deranged cur
rcncy, submits his project /, comes 10 vs. there
'OItt Cy tHe p-tNpTlLy oi d"I upon our own rCqu-
sIii0nr and In % manner the most formal
The plan Oi the Treasury, thus fairly before us |
has received numerous and essential m1dhcations |
10y the committee 10 whom Il has been referred and
10 one Of these notifications on y the Senator from
Virginia dIsseuis.
In either mode It is believed tia. most Of the sI.
lI;Ing evils viii be remgd,sd. Shall We h.z1r heir
continuance by RETAINING from tho adoption Of I
eilheH is o. eHpe1.sui, unIer any Circumstances. /
10 en.rust the execution Di measures 20 uuwfI|Ing
hands and adverse opinions vii Sigh, grounds
Justify difference among those, upon whose har. /
nDny and union, interests Of the highest magnitude
depsndi When much msy be accomplished will |
10 not be better 10 iongD possible advantage |
Which can only be gained by the sacrifice ofthlt /
unI'y Ol action between the Executive and Lr,,-
alive branches Of the Government, upon which in .
ou' cmp.na ied system, sD many vital interest, de. .
penG7
Considering then the operation Of tn. bfr. as 70.
ported by the committee, and ne proposed % he .
modified by iho Senator from Yrsina, ! saano,
think that cIss exists which would authorize a /
difference among those united together against |
common gvI.
II IS sIij, however, tb1t the amendment proplseI
by the Sen tor from Virginia is but q continuance
Of those experiments uudcr which the country a. /
zr0aned ard which have syen.ua'ci IN the st1pnt.
uyn Oi commerce, he loss OF properly, -ud "a de-
ranged currency. BJl sr, are not many Of the
provisions ri The bill, Hs reported ny the committee
enify new Are they not therefore, cEpenm,nlI /
j. not The Abandonment 1f great commercial en-
pOrgfn, lnJ the location Of the mother bank boz the
District OF Columbia, 0n experiment. T. not the |
proposed Limitation Oi7 percent dividends, snd The /
Application ~ The surplus as ON Available fund, ~
supply contingent d.mfuuuon, an experiment. /