The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-10-02
Perrappuae, September 2sth, ls4l


in Entire Rios meditaling an invasion of Corrientes
PErERpRuae September 2Sth, is4l
DEAR SR-It has been charged that Mr.. Ewing, in
his recent, revelation of the transactions of Ca
binet conference made gross misstatement of facts.
That erroneous development was necessary to make
good the accusation that the President had vetoed
bill which he had promised his Cabinet he would
sanction.
How stand the facts as exhibited by the record 2
Mr. Ewing says
"The bill which reported to Congress, with your
appreciation, at the of the session, had
the clause relating to agencies and the power to deal
in exchanges, strongly developed the one you
have rejected and equally without the assent OF
the States"
Mr. Els bill which you have said did contain the
principle of State assent had in it this fundamental
rule, TO wit
Tint the said corporation shall establish com
peent Office of discount and deposit in any State by
The assent of the Legislature Of such State, whenever
the directors may think fit to do; and when esab-
lshed the office shall not be Withdrawn without the
assent of Congress"
"Or, instead of establishing such Offices, (of dis
count and deposit i, shall be lawful for the drec-
the said corporation, from time to time, to EN-
ploy any individual, agent or any other Bank or
Banks, to be approved by the Secretary OF the Irea
sury, at any place or places that they may deem safe
nd proper manage and transact the business pro-
posed as aforesaid other than far the purposes Of dis
count and to perform the duties hereinafter required
of said corporation I've managed and transacted by
such Offices under such agreements and subject TO
such regulations they shall deem just and proper
Instead of that 10th fundamental rule which was
in Mr.. Ewings plan, the bill introduced into the
House by Mr.. Sergeant, contained this, TO wit;
81 10th. That, for the purposes of carrying on and
tha NJ ha gutIr nlnnh
and hereby authorized, and fulfilling the duties herein
and hereby required il shall he lawful for the direc-
tors OF the said corporation, from time TO time to es-
tablIsh agencies in any State or Territory OF the
United States, at any place or places they may deem
safe and proper and TO employ any agent or agents, Or
with the appreciation of the Secretary of the Ireasu
ry, any Bank or Banks, under such agreements and
subject TO such regulations they may deem just and
proper not being contrary to law to this charter
and the agencies, al their pleasure, to renquish
discontinue, and the same agent or agents to re-
move; and to commit to such agents, agencies, or
Banks such portions of the business and concerns OF
the said corporation as they may think tit Prootded,
ai,oays, That neither the said corporation, nor any
agent or agents thereof any Bank or Banks EN-
ployed by the aule, shall be authorized TO discount
promissory notes with the money or means OF the sad
corporation, but shall employ the same IN the business
and dealing in foreign bills Of exchange, including
bills and drafts drawn in one State Territory and
payable IN another"
So speaks the whole record. And, now, let US sec
if it be true asserted by Mr.. Ewing, that his
bill conferred on the Directors the liberty to es-
tabsh agencies Nth The po,oer 10 deal in ca
changes as strongly depeioped and fully conferred
as il was in Mr. Sergeant's bill. Il is admitted that
the liberty establish agencies without the previous
assent Of the States, is equally clearly conferred by
each But that is the idea which the ex Secretary
has msstated. The idea is in the inquiry here instr
tuted and the inquiry here insudet which is the
true snd vital one, is this Were not the powers
erred on and to be exercised by the agencies under
Mr. Ewngs BILL restricted, less extensive, than
the powers of the agencies under Mr. Sergeants bill
Observe The agencies under Mr.. Ewing's bill
to manage and transact the business proposed
aforesaid, other than for he purposes ofdiscoun &c.
Thus without any exception reservation the iacu-
ty of dscounting interdc,ed. Not SO with the
agencies under Mr.. Sergeants bill This, as to any
useful effectual extent, only in,erdcted the dis
counting Of promissory notes. II will not be denied
that dealing in buying bills of exchange, would be
discounhng Mr. Badger, according 10 Mr.. Bells
statement told the President that he could not escape
the charge of Inconsistency, in that way Nor can It
be asserted that it was on an unsubstantia distinction
tina, the President approved Mr. Ewings plan, in this
particular which prohibited discounting, and yet
ected Mr. Sergeant's, which conferred that faculty
to an almost unlimited extent He that insists on
State assent 10 the introduction Of agencies, when
large and dangerous powers conferred on them,
may nevertheless waveii consistently with all Of his
doctrines and beneiicent purposes when the agencies
not invested with such powers but with such only
as are subsidiary and insignificant. That President
Tyler has kept this idea in mind, is made manifest by
the amendment to Mr. Sergeants bill which he put
in the hands Of member Of the House, and which
one of his foes has unwitngly given TO the public in
an appendix TO his recently published speech In
preparing that amendment President Tyler acted with
reference to the extent magnitude of the powers
cple Of the assent of the States "by express
luton" Of their Legislatures must obtain in order to
secure his sanction to the BILL in such agencies
should be authorized to deal OF trade" as is allowed
in the 10th fundamental rule which is above reced
and shown to have been framed to confer much larger
and more dangerous powers than the somewhat sim
liar provision OF Mr.. Ewng's bill
If you will excuse the Of rather stale pun,
will add that he who cannot that the clause re-
lating to agencies" was less strongly developed,
and the power to deal in exchange which is dis
counting, was far less fully conferred, in and by Mr.
Ewinps pan-which it ls alleged, the Presiden, ap-
proved--than in Mr. Sergeants bill which he vetoed,
and consequently that is demonstrated that Mr.. Ew-
ing made gross misstatemcnt, must be as bind as
though his eyes full Of clay, POBLloS'