Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-23
K CHI MOND:
WEDNESDAY MORNING. JUNE 40.
LEGO FOeoism aud the Bank.


Loco Foeoism is expendng a vas, amount OF in g.
reetve asains, the plan of a National Bank.
presented in the Report of the Secretary of
the Treasury. From the very bitter words
winch they use, would seem they hate
this plan worse than all others which hay.
ever yet been suggested. We are 10y no means
sorry to see this manifestation Of unrelen,ins hos
Utility on the part of that odous Faction Il denotes
intrinsic merits in the scheme, and ausurs favorn-
Ole reception among the peopc. That they should
oppose IT, whether good or bad, merely because it
Isl wing measure of Wing Administration,
was expected, from the VIGOROUSLY faetous motives
Whleh influence all their conduct. An ordinary
opposition, therefore, would excite no surprise and
would have intimatcd that the measure was little
else than common place one. IL is the unpr,ce-
Genied and violent character Of their opposition
which marks their OF its Importance and will
make Wings generally embrace It as the best pro-
Ject which could be devised, We are assured that
the Loco Foeo members of Congress, whilst they
declare their determination TO defeat any action az
the Extra Session, do not hesitate their pre-
terence for any sort OF Bank yet thought Of to
that proposed by the Administration of John
Tyler.
We fancy we descry the secret of this violent op.
position. Ii the ocheme, with the modification Of |
the details, which IS contemplated, be adopted it |
settles the currency question tor years. and it set
ties Loco Focoism too for generations. According |
TO universal Loco Foco concession in times gone by
the plan avoids all constitutional difficulty None
bns o'i, lin the language of one of the straghest
OF the sect,) doH5isd he pouer Of Congress 10
establish a Bank in the District. This granted,
and Richie and all his posse arc forec,osed
from uuerins a word in opposition; and the assent
OF the States to the establishment of branches, be-
ing required even the pursis and casuis,s of Co..
Teton District, S. c., will be unable to detect the
slightest inirac;ion OF the Constitution. The En-
quirer lahours to &c, around the difficulty in
which It is involved, by characteristic sophism
something akin 10 the It was wont TO
illuminate against Mr.. Calhoun in the Nulif.
cation-"ln the Union and out Of the Union,
at the same time" IL asserts that Congress has |
not the right 10 establish Branches in the States d.
rccily, and therefore it do so at all. This is
very plausible upon its face, and that is all. II
msy be answered by asking 4 single question
Cannot Virginia incorporate Bank, with perms. |
sion TO establish Branch in New York, with the |
consent OF that SiaIe2 Would the mere grant of |
that authority work enlargement Of VirsiniA's iu-
risdIetion over the territory Of New York; Is any
man so silly as TO maintain such proposition1And |
yeitis identical IN principle with that which Loco |
Fooeism asserts respecting Mr.. Ewiug's proje |
BY this same process Of reasoning, if Congress were
TO authorize Bank in the District, (Which, no |
doubt, It can incorporate and invest with any row.
ers It may choOse,) 10 establish Il Branch in Lon
don or Pekin, Congress would thereby assert jurs.
dc'lon over Ens and and China! This is the alb
surd and ridiculous logic OF Loco Focoism! To this
desperate shift is driven TO make out even pre-.
text for opposiiioni
We beg the consideration Of the reader to the ar
gument aglin:-ll is admitted, in the first place,
tha; Congress has the power 10 incorporate Bank
IN the District Of Co.umbn--lt has exercised the |
power since the very foundation OF the Govern |
meni. Wei, II can grant any sort Of charter il |
peases,-inars unden.abe; for there is no au;ho- |
r.iy 10 reSirct-lt may insert clause authorizing
the Bank TO establish branch IN every quarter Of |
the G,obe-in Holland or Hndos,on, in Europe, |
ASIA and Africa. IT, then, the Bank procure the |
assent OF the Territorial Authority, does i, violate
any chartered privilege does the Locofoco absur
dry ensue,-does 1t enlarge and extend the iuris-
dclion OF Congress the whole earth7 Thi. |
consequence must be shown, before any weight can
be gwen TO this crack logic Of the xpring Faction
Show this, and in three dlys, by single act of
Congress, we can establish n universal dominion
over all the empires Of the earth!
The Locos had better abandon this position as
soon as possible, before it comes to be canvassed
and exposed in the eyes Of the people They must
urge some moro substantial objection to the leading
measure Of President Tysts Administration, if
they would invest their opposition with a decent
ssmbance OF reason and patriotism. That mea-
sure, We can tell them, with the notifications and
yvhs q, .,..H 4
the appreciation OF the country, and give the death
blow 10 I.OcDfproisnn