Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-08-18

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We have. then this centleman's authority r
what constitutes money.
II Is but Justice to add, that he gives notice to
m MS speech Of 1854. shat, II the deposcs shcu
not DC restored, ard the then Illegal and unconsj
| lulional conneNion between the Executive and N
} league OF State bouks shcIld continue, he you
{ move to introduce measure TO prohibit Cover
ment from receiving Or touching bank notes m an
shape 10 the dcposi,es should not he restored
marx mat Also But II this Illegal and unconsi
tuuonal connCNjon did not continue, then of cour,
he did not object to the receipt OF bank notes
| wen, now, Mr. Chairman, this ILLEGAL ana uI
! SonsuLuuonni conncNon has been broken oil. Til
! SUD treasury act has h-en repealed IN the otbt
branch OF Congress and II will bc repealed here /
! a lew days; the Government will receive It's due
! N notes o. specie paying banks. The gentleman
| himself acknowledges The superiority ofpapcr mo
nay over metallic currency, and he lays Il dow
mat whatever Congress views Is money Is money
| that % Is money they have the tisht under III,
Constitution % regulate il. "Nay." he SAYS, ".hcy
are bound by high obligation. TO do II and IN,
most elhcient means Of dom. Il IS by Bank OF tht
United States, Incorporated bY Congress; and un.
! less you do incorporate a bank, you violate thai
provision Of the Constitution which provI4cs ,b,
1 taxation shall 10 uniform throughout the United
Sta'es.n
he, this - the gentleman that has always be,iey.
co he oanh 10 be unconstitutional, and now regards
Il as 50 entirely IN conflict with the provisions of
tue Constitution that he stands ready 10 repcaI the
10 DO II. Sir, sr, The times Wi. Jc sadly out OF
JOINT when such mcn acquire power and influence
aud control over the dsStInies OF this country Why.
there Is not man in this whole nation that stands
50 deeply committed TO a bank as the South Caro-.
Ina Senator. He is the only man that have ever
known TO take the ground that It would be a viola.
non OF the Constitution not TO incorporate "A bank
have known others who believed il 20 he the duty
OF Congress do 50, bUt not that II would violate
the Constitution not 10 10 il. But | must pass on
ID a IN n & BIO lFRF1.f
The last clause IN the S.h section Of the LIST ar,..
Gle declares Congress shall have rover "to make
all laws necessary and proper Tor cIrrvin: into
execution the foregoing powers, and al other pow
els vested 10y this Constitution IN the Goyerums nj
oi the United States, or IN any department or Of
hcer thereof"
"AlI laws necessary and proper" Now some
thing Is necessary and proper to be done for The
COLLECTION saic-kecpuS, and disbursement OF the
public rcvenuei something Is necessary and proper
10 be done TO ensure s. uniformity OF taxation
throughout the country; Some,h,n, IS necessary and
proper to be done 10 ulae commerce with foreign
nations and among the several States: som-thns Is
necessary and proper 10 De done tor coming none.
and regulating the value thereof We, what is III
W nat sinai. be uoncl The Constitution does no;
point II out 1t is e,t 10 the discretion and wisdom
U. Congress TO de.cualne.
Three things, rs / said before, have been propos.
Cd: First, Bank Ot the United States. We. We
are met by the arsumgU; .uaJ bank IS ;luconS,l,u
NAS4lst GNAASt tllt true t'Fe''t 10
the words necessary aud proper" i not merely a
convenience but 10 is an "mliSU.uSl5c ufctSsiiu
Is, SIR, ildlSp'nSa5ic necessity; bu-, mark Won
That wO IS no. 20 uc found 100 the Constitution; II
Is an Interpolation which would Justify you Il
throwing the whole Constitution behind the fire;
indispensable necessity wi. Justify The destruction
OF your republican and representative form Of Co
vernneni; ami m snort, what is ]. that indspssl-
bic necessity W.. not JUSTIFY But, say they, this
- not Indispensable, because there are other Coles
by which .hs same ends can be accomplished, u
wit, through the operations OF the Statc ganks nd
the sub Treasury. Let us admit the argument, and
see what j! leads 10. The next proposition, lEea.
that comes up 10 atopttGe State banks rs fiscal
agent, (Which, blythe by, ! W.. presently enGcl.
yos 10 prove is the most unconst.gg.ona. of afl1-
WEI, tins scheme IS met by the same arsumsn.; !,
Is not constitutional because % is not IulIs ncnslo'e
there being two other modes by which The same
tAlng can le cone. THIS, then, IS laid aside and
then comes up the suO-Treasury. Wei, u IS me;
ny the same course OF reasoning; YOU find nothing
more IN the Constitution about i sub-IrelsuEy or
Independent Treasury Than you do about bank:
and u cannot be constitutions bcc1u 10 IS no, In-
disptnsNuy necCssary-,here bcin. tw o o;Aern,odes
ny which the same thing can be done, 20 VII, c.
Bunk Of tho United States and the State banks
Vow, SIR, was there ever so ABSURD and 9rtDOstrr-
Gus a conclusion rs 10 leads yol tor Do YOU no,
perceive hat % leaves this grcl, G0yarnmca, ahso
.Jte.y N1wcr.Cs5, and without the means OF atan,-
ing either! You may lay taxes, and co &c. taxes,
but you slg.. have no power 10 'ika care OF and
dsOurse those taxes after they are collected: and
the more schemes that human ingenuity and Wis
dom can devise, the more unconstitutional do they
all become.
WHAT then docs it resolve Itself into2 Why.
what IS most necessary and most proper. AuC
who Is 20 Judge of this but COngrGss2 Il IS 10, a
question OF constitutional law, but a question OF
iIef cs, Sir question VI fact, resulting from
the vision, discretion, and experience ofCougress,
eH The Constitution u III fa
II you OoE for specified powers on Y IN the Con.
suunon, wHcra DID you derive your power 10 erect
Tour light houses, your custom houses this mag
lhcsnt building ln which We hold our sessions the
Presidents mansion, your State, War, Navy, and
treasury Departments, yonicr palace now erect
NJ TOR the use Of tic Genera. Pos, Osfcel Are
hey not n.. deuyltlvc powers, as necessary ani
proper 20 carry InO effect the enumerated powgr-y
Sir, gAsrc IS one thing 10 be remarked, that
strange rs 70 may sound, there has been q period u
lur history, and that within the last few vegrz
when the constitutional power Of Congress TO inco-.
7orste o bank was virtually recognized by all men
u al. parties 100 tins nation; and TIA, wa when the
NO g9eI, Ulrues of the cOun ~ were divided be-
wcsn Tie pro9ne,y and necessity Of s1opuu. the
State banks as fiscal gents and rerb4r,rrf..r Tho
It1 Bank Of the CnIlsL States.
] lay % down bs au incJntrover.fb'e po.irfo-
hat when the necessity Of Tss1rrng 10 bfrkirr ru.
fU'iDns go carry on the operations this Govern
ueutl 7cbnow. Gg.J 'tl. Ig establishes the risHt
If the GOy-mmen, 10 crelts one Of rs own. VINO
AN deny this urDr0.r,ol2 Now c1nce6r fIEs.r
cs-i,y for banking institutions as a fiscal a.eu, OF
he Government, and WHO can deny the power OF
Congress TO create CU,f
Is there any nan who believes IL ever have could
been IN the contemplation Of those wise men vino
famcd the ConstltutUu To- drive this Government
% the necessity OF resorrng 10 the Institutions Of
'iler Governments 20 collect, take care Of and dis.
IuTsc their revenue Of millions, which, before this
Constitution snail fade away, may reach bundled
Millions annually: institutions created by the States
or their own use, and over which Congress can
ave 10 control, 800 supervision VI dfeclfpny No
i- no. j. is too absurd for the most el,her-hrrG
~ To- believe u would ue time To- make new
Constitution li iI5 were so.
Sir, e musl DO one ri two thres: VIC niue, Gle
her give ilrr aud oara. Interpretation 10 .hr7 IN
s'rumrui, or we must give one tual will Prove dis.
isiroG7 and destructive 90 the p-OJdcs. hOgrs aud
the highest prosperity Of the country. prefer the
former, Ist other gentlemen DO rs they may.
What was Mr.. J"E7rsnn's rule Of corg,rrc ian ir
such ctse3 Tie biOrupher Of tina, distinguished
man say.:
500 lh'- question, without referring IN ". JET
icrsou's OBI led acts go discover l8 Iu.g oil ipterprs.
'atun, wc fortunately hive tho drfc-. ryfspmrr Of
uis own tEu-rsa Gee. ration. To- nis .st-r tl Nt
sp'rk7, of February 1.n, 1921 IJcT.rsou's Cores
pt.ng''.' vol % r2'e 55ID uo srys, in speaking
o. co.nuzrg p-np.- ri c".uT 100 obi RI aIs We rraf
bis Lgtu: y 0m mgars mat This suIjse, 1sr. To-.
some cgH1i.'UagUH Sc UB'ss; but LIBERAL cos.
. sTEutTilHr JrarIriED UY TUE rgJE,r. Ui7y 20 fly
AMI amendment of Wr Constitution rf ,ytu.r
. length ie fssary' Ills pl.g.gs is conducive IA
s'"" '''ys .ne oiok''p.sJ .Hat Doe thought ". wsr,
J'ali-l 100 'lVu 2 more or gas liberal r0n.frucfra.
I 81 The Constitution, according 10 tha utility of Oh,
uuI,ci o.. De thought, no Doubt f'Ht tlr r,la r,.
s.lerauOn q, national good which sanctioned "a ...r
c1n.uugnO" IN one class Of questions. ,ursI.v s,,e
/ TONED a Ho7r7 construction DO another