Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-30


'dsburs,ng the public should greatly prefer
10 aU ). Bank, even system oi special d.Posites IL
the public money IN State Banks, prohibiting them IN
der penatesrom using IT for banking purposes
although in comparison with the independent Treasury,
should dsapprnve and condemn such plan But
anv agent for me, rather than National Bank The
judiciary, then, most clearly have not settled this cues
ton
But if the Judiciary had settled the question:,
should never hold myself bound, by their drcisiou
whilst acting in Legislative character. Unlike the
Senator from Massachusetts hlr Bates shall
consent 10 place the political rights and liberties Of
this people in the hands Of any judicial tribunal. II
was, therefore, with the utmost asionisIment hcari
the Senator declare, that lie considered the exposlt"ns
Of the Constitution BY The judiciary To ha equally bind
ing upon the exposons Of the moral law b. tho
Saviour Of mankind, contained IN the Gospel,
on Christians; and that they Of eqnal authorlt:
with the text Of the Constitution. THIS Sir,
fa;bi.y which was never before claimed Tor anr In.
man tribunal; iniaibiy winch would convert free.
men into abec slaves: al inlabity which would have
rendered the infamous srdon law az sacred as tl!r
Constitution ITSELF the judiciary having decided This law
10 he constitutional; and which would thus have
hilated throughout the whole extent OF THIS mon, the
liberty OF the press and the freedom speech No, ST.
!, ls not the genius of institutions 10 consider
men as Intall.alc.
/ No man holds in higher estimation than ! do, ill.,,
memory Of Chief Justice Marshall; but should
have consented 10 make even HIM the tnal abiier IL.
tween the Government and people Of this country
questions Of constitutional liberty. The experience III
all ages and countries has demonstrated that Judges
nstnc,vely lean towards the preogaives Of Govern
nen: and II is notorious that the court darng The
whole period which he presided IT, embracing -
many OF lis existence, has inclined towards the
highest assertion Of Federal power. That this has
been done honestly and conscenlousy, entertain
4 doubt.
Il The princpl. Of constitutional construction which
!. would dcGuce The power ~ establish Bank .! the
- .te from ti. where - sand would
break down all the barriers erected b. fathers be-
\ tween Federal and State authority. II you caa MFR
4 THIS power from the simple power Of taxation III III"
/ Constitution, ask what other power which you ma'
desire not he inferred from that
other clause; An ingenious man might thus iasien
any power which Congress the President may desire
to exercise on some OF the express grants contain
ed in the Constitution. But the incident cannot tran
scend its prime pal-the stream cannot ascend higher
than lis fountain, and upon the mere power ievyins
the taxes To support any economical Govern
meni Won erect vast corporation 10 oyerSa
dow the whole land, and, If not IN form, yet sub
stance 10 change the character oi all institutions.
Never, never, you fairly infer the existence o. III"
power create Bank from that OF the power $50 ay
and collect taxes. But II neither vas nor Is my rur
pose 10 enter upon the constitutional argument ir
tier than sho that the QUESTION H. not been settled
II tie question has been settled by the judiciary,
has il been settled b. Congress- Certainly not. II
two National Banks have been chartered, they have
charters, because their existence was believed 10 bea
violation Of the Constitution. To say tie least theH
the legislative preccdens equal each side. Bot
II take into consideration the repeated attempts 10
ESTABLISH, a Bank, which have failed, Congress have
much orcner decided against the power than III It's
favor
The people have failed TO decide against ,hi'
power when the question has been distinctly presented
10 them at tie Presidential election oi le?,
after Gen Jackson had vetoed the Bank charter. In
-, hasp b.pn ihp
dietary by Congress- nor by tie people, nor By thr
Executive unless il laay hare been against the exist.
Of This dangerous power, and against The policy "t
lis exercise.
The committee say, that ''ihey have adopted Wash
nn;on city proposed by the Secretary Of tie Treasury,
as the place of location Of The principal Bank" Til"
Senator from Kentucky mir. Clay has informed ~
that he felt slight preference for other places; but L"
agrees with the committee IN believing That TINS IS ~
subordinate question" lie has, therefore, ! suppose,
kindly yielded the point to his companions on the COM
mit;ce Tor the sake Of harmony. Now, SIR, consider
this ront which he has thus surrendered 10 he Of The
very last importance.
Washington city, then-a place destitute Of COM
merce either foreign domestic-is the chosen home
Of this great central money power If YOU dcsre
bank for the purpose Of facilitating the commerce, en-
cnnragng the manufactures, and promoting the agr'.
culture Of the country Washington city IS the very
worst spot for its location winch could be selected
within the broad limits of the Union But, Sir il you
wish 10 establish! great Treasury Bank, which shall
be under tho direct influence and control OF the Go
ycrnmcnt ths above all places III the universe, = The
very place for s location The reason IS pnlpablc--
Here li,n money power Of the Union viii be brought
into conjunction with the political power: and her"
they will act together in perfect concert and harmony
Hcncciorward there will be no Jarring between these
two high powers.
Now, Sir whatever may have been thr design of fiic
projectors Of this Fiscal Agent, this institution" should
il eyer be established, will be- both IN fact and IN form
l.ea Than 4 Government Bank. III
were asked for definition ot 4 Government BANK,
could give better han 10 sav, u y BANK OYER
hose directors the Government wll possess, from the
very nature of its organization, controlling influence
whose stock will lee chiefly owned By lie Govern.
mrni-whose surplus profits, beyond II limited ,ivi.
dend 10 private Stockholders vii! all belong 10 the &c
vernnent-and whose cblei source 81 profit Will he ~
loan out 10 individuals, and usr according 10 lis
4 scretion the money OF the Government | think
| could not rive perfect definition Of such
Bank than is embraced in the particulars which hayr
JUS, enumerated. If Tins be true, and who can Doubt
It, then this Fiscal Bank of the United States w! b.
Government Bank.
And, in the first place, the Government viii have
controlling influence the directors Of It's own E's
cal Agent. Who will these directors be- Not me--
chants; not manufacturers; not men actually engaged
in business. Such will never leave their hone
and their employment, I" reside in tins CITY, and TO b."
come the directors Of this Bank. They will remain
Boston in New York. III Philadelphia, III Baltimore,
attending their business. Here, no such practical
men can be found and the Senator from Kentucky !,
therefore, of opinion that the directors ought 10 tc
lec,cd be yond the limits Of the District Who, then,
will csr directors be: Ducs il result from the very
nature Of things that they must be politicians: Who
would 10 tins city, and spend the whole, or tie
greater part Of the year here, as director .; ihtS
Bank uncss II political cormctant, desirans
OF obtaining influence Tor himself and Office tor h'H
friends; Now, SIR, if you desire u preserve ths Ehn"
oi The l. re- the IDf!urHgr ana control Dl III.
Government you ought TO remove to as great DIS
lance possible from this city Instead OF placing 4
under the control Of politicians, wch must be the case,
should YOU locate the Bank here you ought 70 plant Il
IN some com,erc CITY, where merchants and uien ot
business having greater interest III commerce than
in politics would become is directors. Tins District
is reGoent with politics. Here, 'se 1--we, move, and
have our being atmosPiei. Of politics. and dur
ing tie walks OF these drtctors beneath the groves oil
the Capitol, to the language o the Senator from
Kentucky,) politics and not philosophy wall b. the
theme oil their conversation, and politicians, not p!..ic
sopLers will IL their companions. OF all men IN the