Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-10-08

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TOD ~ l' - necessary snd prop'c one. The Sen
ate u ~ 10 ths "a as responsibility. The llous
s Uc go ghJ~ The c,CS'Jcn; Is To DO this And
th'N oNN-ur ir the opinion, then. Ivy thc decision q
th- SuHrcns Coug. thc ccns:tuIonality OF the A
g gent - created follows rs q consequence.
l has no; been dcc5icd. either Nv tho Sup-cm
Count ~ 10y The ocuoA o cny pas; President ut th
United States, that any bilt whoirv"r. No matte
what rs c%ont'nts, To which the title "Bank' Is CIV
en-, does ey virtue Of tina, tuc become 9; ueccss,;,
constitutional On the contrary, the name of Ia
Agent determines nothing. The quantity and qut
lty Of i,s pcwers-,h~ nature Of the functions be
slowed upon it-jhcir necessity and pFopriotv, q.
well, On the dctnil,) at the precise time, IS toy pgiu
cip'e,l IN csncral,-all these are questions OF fact
~~S 'i.h', 10 he "N'rr'Ned IN each case oi a propose,
Bank, anu to be examined hy lie President as we,
as 10y the two Houses Of Coac-css.
And these are questions which, when they arise
IN the gwen cas-, arc to be considered as well by
the President as by the mcmJets ,t Congress-, n
obedience to their conscientious convictions Of the
force oi the constitution. Their lI'Smcnt OF those
questions Is nowise p.ec'uisj or excluded by the
fact that the Supreme Count has passed on the &c.
neral question OF the cunstliuuonlUtY Of a bank
On the contrary, such Judgment IS deferred to and
imposed upon them by the very deciston ct the
Court itself. Such judgment ut those questions ~
them, upon their conscieuces. Is the constitutional
means, and the only means, OF osccrtainins the pc.
muses.. out OF which, when 50 escerta'nsd, the SUI
premeC Court Is 10 draw the consequence OF the con.
Sututionality of a bank.
The not pcrccivins, or, rciceivinC, the rcslcc,in,
to act uoJn, these plain truths, was the cause o
many errors At The late session Of Congress.
IL induced members, instead OF looking into ant
examining tue particular powers If the propose,
fiscal agent, and showing their necessity and pro
priety us the essential elements Of the conclusion u
cons'IIuto0a,i'y IN the gwen caSc-It iUdnccd them
taking for granted this the very thing to he pgOy-
Ell - II induced them u eCpend all tnCic ctt)rts iu
arcuin. the false idea that the question could Not
and must not be cooked INTO or examined At AL.
Their minds dominated 10y this soPhism, and har
ing adopted as the rule Of their own action the thcD,
~ of dcncgl:iUn OF reason and disqualification
which u implies, :. " not strange III Il they assumCC
the same RUE as applicable To tn President.
In refusing thus to shut his eyes, and in scruti
nizjng the true question, that, namely, OF the neces-
sity and propricty ct each aud all OF the propose
powers Of the bank m The given case, the President,
instead of actin: IN conflict with the decisions ofIic
Supreme Couri. did IN TACT tread in the very path,
and aim nj the very mark, which those decisions
prescribe.
But, It Is said, the bank question. at the present
moment, has been decided 10y the Wing patty. ami
the President ought u have concerned himself TO
thnt decision To which, It u 5 were So, u Is nuSi
Gus to reply, that no determination OF party can
settle a conStr. uionai question, or preclude a qIes.
ton of conscience.
1t is farther said that The President ought 10 ap-
prove Wherever the party IN Congress do.
That would be 10 abolish NJ once al the cons,i
tuiionll functions and duties OF the President OF the
Jutci Sthtes-to render HIM eventually the mere
pJppCt of tlciI1n-to transform him INTO a sinp-c
countersigning c'erk-aHi to transfer all the sub.
stanuve power ct the Government INTO the hands
Of Congress.
Though President through the votes OF a party,
represented 10y a majority In Congress, yet, IS Ere.
sldert, HE, no. Congress, Is 10 execute that Office,
and, to the best OF ut> ability, preserve, protect ami
defend the constitution.
To say that whatever bill a majority Of Congress
passes, that The P.cSIceut Is, regardless Of hts own
convictions, bound ,D sign, Is To destroy the cons,I.
tuition. To say that the voice OF Il bare majority Of
Congress Is, As against the President, the hna. and
conclusive pronunciation OF the popular WI Is To
destroy the constitution. For the constitution Il.
press.y provides that not q bare majority OF ile
houses, but 4 two thirds vote against the Presidents
objections, and th1t alone, Is 10 uc considered IA the
authoritative declaration OF the will OF he people.
The exercise OF the veto, It Is SAID, Is an oGIous
act. Ii 50, the more certain Is II lhatit wal be rare
ly exercised by any President, and that when he
does exercise o., he does 50 from profound c1av C.
tons Of conscience and o~verpowerIng sense oil pub
lie duty.
The President, tits said, has defeated the wishes
of the Wing Party IN Congress and the country,
a-d, by MS mere will, deprived the nation OF what
II so much needs, 10 VII, "a National Bank.
Is II true that the President : responsible solely,
or IN any repreheusIb.e sense, Tor the failure OF Con-
gresS, al the session, To establish a Bank 2 To an
sWPr the question .ct Us look al facts and dates.
Ga tie . Of June the Senate called on the Sec.
Rotary OF the Treasury TO present 10 them q plan
OF a Bank aud FI.ca, Agent, which he communl.
Gated on the l2th OF June.
To- similar call made by the House on the 2Ist
OF June, the Secretary replied la tie same way on
the 23d Of June.
In each House this plan was committed to a Sc.
lect Committee on the Currency.
| IL was known generally, and { was known par
t~culir'Y 10 those members Of Congress, who, by
their experience and o.Iuca! position, had the best
opportunity AMI the g,eale>t inducements 10 obtain
a clear understanding OF the lcis IN this respect,
that the President OF the United States had strong
and fixed conviction concerning a National 3 INK;
that 1t was his anxious wish, SO far IS his conscicn
uous opinions would permit, 10 conform his &C ion
IN this matter To the wish Uf Congress; lh1t, accord
ingly, hc had reflected much, ana unsettled with
his constitutional advisers on the subject; and tha,.
among other conclusions 10 which he had arrived,
was this:
Ether no discounts, or, if discounts, then assen,
OF the States.
The President, in cons 5eTing this great question,
lCokcI beyond wO dS, al ideas aud tl.ngs:
Whit Is n Bluk3 Il seems 20 be assumed. IN
most OF the newspaper discussions OF the subject,
that a Bank IS Ut necessity On institution comOiu-
ing depJ-i.cs, discounts, aud circulation, or the
issue OF bills 10 circulate rs money. Not so. Meth.
er OF these thing IS, DO j self, OF the essence OF a bank.
\ bank may be 81 u1uk OF dCposI Cs without dis
counts or issues, or OF deposits ard issues " Ilnout
discount, or OF ccpgs'tC5 and discounts without is-
I sues, or %! lepuste, discount, aud circulation. Elk
amp.es OF each Of these forms Of Bank exist, m
many countries. and may he found in our own.
The President had considered these things, and
the iubahm-u'n. idea ~ his MIND touching the pro
posed fiscal bank, either no discounts, or, If de.
counts, then assent Of the states, was Incorporated
IN the l7th article OF the Ilih section Of the plan ri
{ a hscl. agent communicated 10 the Senate aud the
House ~ INC Sc"ranry OF the Treasury.
On the 2lst OF June, Mr. Clay Of Kentucky. from
the select commItfes Of the Senate, e. Hhich the bill
OF the Secretary Of the Treasury had been referred,
submitted a rspyr, accompanied by a biU, framed In
part according 10 the plan Of the Secretary, bot In
the vita matter Of the constitutional question, I'M.
voIycd IN The l7lh article Of the Iljh section, d fir.
irg from the SCCre'1ry Of the Treasury, nnd grnrps
iu. to- establish dsr1lu. Offices DOB Tine several s'4te.
without their consent.
In the House OF Representative, Mr. Sergeant,
from the select committee Of the llDuse, reported a
bill on the Dist dry uf July, substantially the sam,
as thIt reported hy the committee OF the Scrl'e.
THIS difference between the riln Of the Sec-otsry
and the pan Of the Senate committee, became at
once, the great question ottHg ddy.
MIR Biycs. on tie IT day OF July, moved. as ar
amendment jO the Senate bid. 10 re-. ore, I'm this re-
spcct, the precise language Of the bull proposed ~
the Secretary ot the Treasury. lis amendment
was not, o- seems generally 90 have been supposed,
a new thing, t., was thg provision uf the S~.rrgtrry
and consisted 90 bis very words, cut iJm the print.
cd Senate document, and yufarr8 On sheet Of "a.
rtri with nothing but the iuuarI words Of 20 motion
g. amend pTsrX.d n manuscript.
The two Senators iruu Massachusetts. VI Btfr,
1n1 Mr. CnDare, aIvOa,,cJ this 1meudm,n,, fhti s.
Tue adoption OF TIE p.'uOl tic Secretary In this re-.
sptci, 10 preference TO the plan OF the Sgnats com.
mi''rc.
There is every reason To believe tIat ft the na.r,,1
Of MI Bates ana Mr. CuOrc bod been followed. and
G q amendment OF Mr. Riv,5 adoged. thrrs would
now Os in existence a new United States Bank