Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1841-09-21
From the Chicago merican.
IT.
ABSTRACT OF THE VETO.


The President regrets that he is con-
! strained 20 return the Bill
He rccurs 10 the fact that i'm his first
Veto Message he declared himself opposed
TO National Bank operating per Sc over
the Union.
He admits that the veto power is one
which ought to be cautiously exerted, but
contends that he is discharging sacred
and solemn duty, not to be controlled by
mere regard to the will Of q majority.
He proceeds TO argue that the bill is
plainly national in It's character and such
bill he had already declared he could not
sanction.
The details Of the bill do not, he SAYS,
recommend themselves strongly to his
adoption first, because substantially a
system OF discounts Of The most obiectiona
BE character may be justified. Secondly,
no limit is prescribed TO the premium in
the purchase Of bills Of exchange.
lie says that these are rot the only con-
scquences-a resumption Of specie pay
men; by the Banks would be liable TO m
definite postponcmcnt-the State banks
would either have 10 continue with their
doors closed, or exist at the mercy of this
national monopoly Of brokerage. The ci-
tizens of the District Of Columbia could de-
rive no benefit from il. The charter IS
designed TO continue for twenty years with
out competitor--the defects TO which he
has alluded being founded on the funda.
mental law of the Corporation are irrcyo-
cable--t tho objections be well founded il
would be over hazardous to pass the Bill
into law.
lie processes that he has felt the most
anxious sollcltude to meet the wishes Of
Congress-has been ready TO yield much
feels compelled to differ with great pain.
lie says that owing 10 the brief space be-
tween the death Of his lamentcd predeces-
sor and his own installation into office.
time was not left him to prepare and sub
init a definite recommendation of his own
in his regular Message, and since that time
his mind has been wholly occupied in a
most anxious attempt to conform his ac-
ton to the legislative will
lie says that in the present comnrni-
cation, ne is confined by the constitution
to his objections to the bill; but the period
OF the regular session will soon arrive when
1t will be his duty under another clause Of
the constitution to give information to Con
gress OF the state of the Union and recon-
ment such measures as he shall Judge ne
cessary and expedient. He most respect
FULLY submits ia spirit Of harmony whe,h-
er the present differences Of opinion should
be pressed further at this time, and whe,h-
or the PECULIARLY of his situation does not
entitle him to postponement of this sub
Jcct TO a more suspicious period for deibc-
ration. Many measures have been passed
by both Houses Of Congress at the pre-
sent session, and it has been his good for
tune and pleasure 10 concur in ali except
this. lie thinks this one difference should
not be pushed TO extremes He has been
burthened with extraordinary labors, and
desires time for reflection on this the great
est difficulty Of his administration, and
hopes at more favorable time, some mea-
sure Of finance may be adopted promotye
OF the good of the country.
He concludes with saying that he has
been actuated by no other motive or desire
than to uphold our institutions as they have
come down TO us from the hands Of our
godlike ancestors, and that he shall esteem
his efforts to sustain them, even though he
perish, more honorable than to win APP
psuse by sacrifice Of duty and of con-
science.