Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1841-08-24
JEFFERSON AND THE WUIGS

''we believe to have been his intention. As how
ever we have evidence of it, which we can pre-
sent 10 the public, shall content ourselves with
proving by circumstan.al evidence that Mr. JEFF
ierson would not have applied the veto power TO a
bill tor erfeRdHg the charter of the old bank We
recommend the evidence to the consideration of the
editor oil the Boston Post the following authentic
extract from an interesting compilation OF which he
no doubt possesses copy. entitled, Laws of the
United States =
AN ACT supplementary to the act entitled An
at to incorporate the subscribers to the Bank of
the United States
Il BE- Il enacted Sc, That the President and
Directors of the Bank Of the United States shall be
and they hereby, authorised establish Offices q
discount and deposie in any part ofihe territories or
dependencies ofbc United States, the manner, and
on the terms prescribed by the act to which this lie
a supplement.
Approved, March %. 1904.
THOMAS JEFFERSON"
The Intelligencer is right in surprising that VIC
possess copy OF the Laws of the United States
We possess, also another Interesting compilation
entitled, memoirs, Correspondence and Aliscelia
MES, from the papers Of Thomas JEFFERSON: u
compilation OF which the Intelhgencer does not
seem TO possess copy, or with which, at least, 1t
does not seem TO be familiar. Already have we
! given, from this storehonsc of democracy many
authentic extracts" These extracts contain not
mere circumstaniaI evidence, but posuire iesfinao-
ny, that Jefferson opposed TO national Bank,
and opposed 10 our banking system. We respect
fully recommend that evidence to the consideration
OF the editors of the National INTEL gencer If such
testimony will not convince him of the hostility Of
Jefferson to national Bank at the time he
President after lie had retired to Monticello, and
even at the period Madison signed the bank BILL hu-
man language VIII be inadequate to DO it.
Jeiferson'S signature Of this law authorizing an
extension OF branches Of the bank into terrific
ries, is offered proof that he would sign new
bill for extending the charter of the old bank
This act, the face of it, is but go Supplement- to
an erisfiag lac. 1t establishes no new principle.
! 1t adds no powers. 1t is but an extension of
! powers already granted. But even the proposition
to establish branches in the territories or dependen-
cles of the United States, ''IN SANE MANNER,
AND SANE TERMS" of the original law
met with Jefferson EARLY CONDEMNATION.
! This law proposed in December, 1903, by the
President of the Bank. Jefferson says, Dec. IL,
! 1903 to Gallatin -
From passage in the letter of the President
! observe an idea of establishing a branch bank of
the United States in New Orleans. This institu-
ton is one Of the most deadly hostility existing
against the principles and form Of constitution.
The nation is, at this time strong and united in
its sentiments that il cannot be shaken at this mo-
ment." "OHght WE, THEN TO GIVE
FURTHER GROWTH To AN INSTITUTION so POWER
Full, HOSTILE - sNow WHILE WE ARE
STRONG, IT Is THE GREATEST DUTY WE
IOWE TO THE SAFETY OF OUR CONSTI-
ENEMY TO 4 PERFECT SUBORDINATiON
UNDER IFS AUTHORITIES. The first mea-
sure would be to reduce them equal footing
only with other banks, TO the avors of the Gov
eminent. But in order to be able to meet gener-
al combination Of the banks against US in a critical
emergency, COT LID WE NOT MAKE \ BE
GINNING TOWARDS AN INDEPENDEN L
USE OF OUR MONEY, TOWARDS HOLD
ING OUR OWN BANK IN ALL THE DE-
POSTS WHERE II Is RECEIVED, AND
| -
DRAFT OR NOTE FOR PAYMENT, AT
ANY PARTICULAR PLACE, tctich IL lceH
conducted government, ought 10 hare n,uoh credit
rs any pirate dTGH, or bank nate, or JW, AND
r WOULD GIVE Us TIE SAME FACILITIES
WHICH WE DERIVE FROM THE BANKS -
See Jc6crson's Memoirs, T'ot 1, p l2-l3
To our comprehension this extract establishes the
fact that Jefferson hostile 10 this extern
SION of the privileges enjoyed by the Bank. 1t also
shows that he thus early PROPOSED AN INDIE
= PENDENT TREASURY! We recommend this
Evidence, posture it is in It's character, to the
consideration of the Intelligencer. But, lest this
should not prove coHciusire, we give JEFFERSON :
reason, in JEFFERSON 5 own words lohy he did not
i,crpose his Uefo upon this lar, although decid-
e1ly against il, on the ground of eXpedlcncy. II
vas given in 1913, the rery period when the Intel
lrencer has asserted that Jefferson waived his con
s.itutona scrupes, and ready to Justify the es-
Enlistment of new national bank. Jefferson
says
Il
tank. After the solemn decision of Congress
against the renewal of the charter Of the Bank OF
the United States, and the grounds Of that decision
the want of constitutional power had imagined
that question at rest, and that no more applications
would be made to them for the Incorporation oil
banks The opposition that ground its first
establishment, the small majority by which it wa.
overborne, and the practised for obtaining
cannot be already forgotten. THE LAW IAN-
ING PASSED, HOWEVER, BY 4 MAJOR
SOUND PRINCIPLE OF SUBMISSION TO 4
MAJORITY SUFFERED THE LAW re
FLOW THROUGH IFS TERM WIrHOU
OBSTRUCTION. During this the nation had time
l. TO consider the constitutional question, AND WIFE,
RENEWAL WAS PROPOSED THEY CONDEMNEI
1T, NOT By THEIR REPRESENTATIVES, IN CONGRESS:
, ONLY. But by EXPRESS INSTRUCTIONS DIE
FERENT ORGANS THEIR WILL. '-JefcrSon'S Ne
, moirs, Vot 1, p. 30.
Here jefferson only gives his reason 70
SUFFERING the law to flow through its term
but also indicates his intention, when the "rcncW
al ,oas yroJ0sed.' is 1t not Just conclusion, from
such language, that he would have nterposed biz
!, constitutional veto upon a new BILL
The federal press circulating with zeal th
law have quoted above, as conclusive evidcnc
that Jefferson sanctioned national bank In do
ing this the wings guilty of gross, ineXcusabl
deception. They are classifying history to subserv
: the purposes of stock obbers and spectators. The
making the nObest representatives, democra
cy ever had pamper to the designs Of a corrupt mo
neyed interest. Let the iederalists behold thei
portrait, faithfully drawn by the hand Of HIM who's
5, memory they thus dare proiane