The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-17
THE VETO MESSAGE.

uopolls oil The Union, ana vowed upon the altar
of patriotism that our energies should be devot
ed to The resistance of the Sub-treasury and
TO the restoration of the finances and curen-
cy of the country upon stable and popular basis.
The system we opposed has been tried and con
demned by the People and by Congress, and the
act repeating it, on Saturday last, received the
sanction of the President Having thus far full
filled our pledges, we, this morning of our enter
ing upon fifth volume, take fresh though not
, new, departure, and lay before our readers a
document, which, we trust, is the introduction
TO new and better order of things.
No rejecting reader Of this paper will be sur
prised TO see in its columns to-day, VETO by
President TYLER, of the bill TO incorporate a
National Bank. No one, who knows his cha
racter or the history of his opinions, could pos
sbly have anticipated a different event as the
result of his deliberate action upon the bill he
has leturned. No one who knows that there is
no witness 10 show one recorded line of ours in
favor of such an institution, can be surprised
by the readiness, we avow, to sustain to the ex-
tent OF our ability the act of the President
We have the less hesitation in doing so, for the
reason of our profound conviction from the be-
ginning that it was morally impossible for him
TO approve the BILL and for the fact of sincere
belief, as it is our earnest desire, that a great
and glorious good may ultimately come out of it
in the attainment by some other mode, of the
ends of the Government and the wants Of the
People, and the final adjustment Of this vexed
question upon a perfectly constitutional basis,
that will be likely to stand forever hereafter, be-
yond the fluctuations Of trade and the strifes of
party.
II has doubtless been TO the President painful
duty to differ with many his friends, and espe-
ciay so to the extent offeeng constrained to put
his negative upon an important and, with many,
along and deeply cherished act ofthuse who con
tnbued to promote his election to the Vice Pres-
dency But if they recur to the fact that an act of
Providence and the choice of the People placed
Mr.. TYLER at the head Of the Government, with
all his long cherished, maured and we-known
principles and opinions still upon his conscience,
they will find in their hearts no honest DISPOSE
ton to censure, however much they may lament
his decision. There is no reasonable sacrifice,
sure, he would not have made, to meet
all the just expectations Of his friends, compati
bic with his duty TO his country and the Consti
tuition He has reflected upon the subject with
the deepest anxiety, and with the most sincere
desire to.settle question which has so long and
SO njuriously agtated the country. With due
Difference TO the wisdom Of Congress, he vet
has been unable TO bring his mind to concur
renee with the principles Of the measure they
presented for his signature. He has diligently
discharged his duty, according TO his oath and
his conscience, and the bill is returned with his
objections, frankly, clearly, and firmly stated.
1t remains for Congress and the country to pass
Judgment upon the act, and we, devoutly hope
they may bring to its consideration heart and
mind, as candid, as kind, as dispassionate, and
as conscientious, as has been exercised by him
The Presidents objections are confined princi,
pally TO three points, viz:
l. The unconstitutionaty Of the bill;
2 impracticability Of the 10th fundamen-
tai article Of the l. It'll section;
3. The absence Of all necessity Of Federal
bank TO make local loans as means of trans
acting the fiscal business of the Government.
The first point he deems it unnecessary to
argue. 1t is matter Of faith and of pro
found conviction, long entertained and every
where proclaimed BY him in every form of ex-
preston.
The second point he argues very forcibly, and
makes il sufficiently apparent that the so-called
compromise section, is an evasion, not con
cesson, and that while it at first appears TO yield
a point, subsequently fully asserts the power
TO establish branches without the unqualified as
sent Of the States, the lawful existence of which,
he denies. He also intimates that il would bring
the States and the Federal Government into di-
rect conflict, putting the peace Of the Union in
peril. He shows that it is otherwise impractca-
bic, and at with reason and justice
The other point, relating to the discounting
power, is especially worthy the attention OF
statesmen and of the people. There is no man
better acquainted with the corrupting tendency
II local loans from federal corporation than
Mr.. TYLER, as his report of 1894 will clearly
show. II is TO this cause more especially, than
% any other that the corruptions and embarrass-
mont, Of thetwo National Banks we have had are
attributable. The enormous discounts of the late
Bank TO iavorlte presses, politicians, and legsla-
tors and their evil effects, are not forgotten and
lhc fate of the Pennsylvania Bank of the United
states pcrpetuated the exampeto the last. These
evils are not necessary, and ought, if possible,
V BE- avoided. The discounting power is not
necessary for the regulation of commerce or the
currency. The only possible pretext for it is,
HAT It i a source of profit, when ludiciously
used, to the Bank But il is frequently the cause
pt ltS hankruptcv Government need moi he ne