The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-08-05

oral states GiHcu fnigu ADMIT ibeHi' boU-
cgde the power Of Congress TO establish
National Bank, aud the right to protect its
existence aud lis operations, necessarily re.
suits to Congress. Deny That power, and
il mus, be wholly dependent upon the
States. The Committee have inserted in
this bill adequate provisions 70 punish coun.
terteiteis Of the issues Of the Bank, aud its
officers, agents, and servants, no nay EN-.
bezz.e Us funds. These provisions are va,
I'D and vii be oGeciual, on the supposhion
Of the existence, IN the Federal Govern.
meat, q a power TO establish National
Bauk, but, # no such power exist, or if ex.
listing, you iOrbcar 10 execute II, these pro.
vssiols val lose all their force and efficacy.
. For Congress cannot, il Il Is mol authorized
to establish, or does not mean TO establish
4 National Bank, pass penal laws operating
beyond The territory Of ths District. The
enaclacut OF penal legislation, ope rating 10
deprive q m1H Ct life or berry, Is the high.
est Imaginable exercise Of human authority.
CJugfcs cauGot extend lis protection Vi the
Banks oil tho District Il Columbia beyond
lie limits Of the Distnc; iuto the limits Of
the States. These alQua must afford them
protection, or lacy would haze lbcie no lie.
gai protection. Now What would be the
condition IL This Fiscal Bank, os 10 crimes
committed against 1t - tie States! In
the Saps admitting branches! 10 tho
States rniusOg the admission Of branches
aly friend from Virginia has argued to
prove 1.al Congress possesses the power to
nuke su-d BaHk as iis Is that when II
Is hfna-l, :a;o existence by the authority
ID Congress, rs corporate capacity is com.
qIato aad, t5s' Congress may in,es, /, with
fhe privilege % contracting s.tA tho States
for tie Introduction oills branches. When
introduced, he thinks The purposes Of liz
restitution may be accomplished. There
IS 20 doubt, ! repeat, that Congress may
create such a Bank bat it is, nevertheless,
tpid,ug more nor less than a Bank Of tho
DHluc. Of Columbia. Il II should have
any exterior action, through Offices or agcn.
eies situate beyond the District, that exile.
fIoF ellon woclj nc, result from the legs.
la,iau a Congress, but from The legislation
II tie States by which their consent was
granted to establish these Offices or agen.
c.es within lhcr limits And the Slates
would baye Just as much right 10 allow Of
these eff .as or 5grncles whether there was
aay -raal lrom Congress or not to the cor
aesas.oa, ia rs chatter, to establish them.
Fer there cau be 10 doubt, presume that
tie E1uk Of tho Metropolis might now es.
laJbsb such an Office or agency, IN any
State '5a. would permit il, notwithstanding
the sicuce Of It's charter on that subject
Tie Pennsylvania Bank Of the United
States, il has been understood. has OF had
It's agencies 10 o,ber States, Which must have
depended solely uroE the federation Of the
laws.
No amendment 10 the charter, made by
The committee, has commanded, from the
Senator lsom Va, warmer commentator
than that winch denies to the Parent Bank
ali power Of d.sCuuuung within the District,
aad cuWpels Il to transact that part Of the
Uus.acs, d! banking, through It's offices, be.
gaua the District. Considered as a Nation.
al Bark wglh branches, emanating from,
and protested within the States, BY the ma.
t,aoal Authority, | think that feature is
worthy Of Oh the Senator's admiration
Bot Il It Is to be regarded as mere Dis.
ttict Bank, spi.ngug from the power Of 10.
cal Legislation, possessed by Congress, il
would be certainly a most anomalous If not
ridiculous FEATURE. In this view Of it, Con.
gross HllI have made, in virtue Of its local
power Of legislation, Grea. District Bank,
Which rs stnpt OF all essential power Of
baking within the District aud traDsacts
ali ats important business beyond the boun.
dartcs of the District. We shall have
made sor, Of monster indeed, with DO.
dy, destitute Of HE, animation or action
where Il abtdes, but which may throw out
oil around It Iulo the States lis long and
huge paws or branches to conduct the most
extensive operations there Mr.. President,
IS THIS such a National Bank as the people
o. the United States expect from Congress
Tho Senator from NrgInd has invoked
spiHt Of concession, compromise and con.
citation ~ our deliberations. believe,
SIR that have not been heretofore found
wanting IN Welding to the influence Of such
splrIt. The question is, National Bank
or no National Bank, consttutoualty or
uoconst,luuoualiy, power OF. no power
How aro these opposite properties or quail.
ties to BIO rccunc,iCd or compromised -
There is no mean or middle term. Ii you
establish really National Bank, emanat.
NC from, sustained aud protected by the
poaer Of Congress and operating within
The States, without their consent or control,
those who deny tho existence of tho con.
st,uliona power Of Congress to construct
such an institution are dissatisfied, and
laink they nre called upon to yield every
thing. Ard, on the other hand, If you es.
tablish mere District Bank, with branch.
ing powers in the States, dependent upon
their will, the friends Of the constitutional
power Of Congress think that you mock The
people with hn incompetent institution and
call them to uf-euder every thing.
Aud this, il seems TO me, is the sort of
concession or compromise which the Sena-
tor from Virginia calls upon US TO make
concession OF every thing on our side aud
nntbipo on his--a COMPROMISE In which