The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-13


upon the will of the States The Bank of the
United States, TO enable il 10 perform part Of
It's most important duties, is TO be made depen-
dent upon the action Of the State Governments
a Eank Tor the phoie People is to be control
lea oy The VIII OF portion of that People.
am opposed, under existing circumstances,
and IN view Of existing facts, TO this amend
ment ! shall vote against it. | do not say
what | might do under other circumstances,
should state of things arise differing from that
which now exists. | shall not say, that even
this amendment may not receive my assent, If
i be necessary and indispensable 10 secure 10
the country, even TO limited extent only, the
benefits of national institution. When the
time arrives, (f il ever should, for the conside
ration and disposition of such question, shall
be ready 10 meet il. | will then act as my sense
OF duty shall require me to do. Al present, no
such question is proposed for our decision and
shall not anticipate IL. In the remarks pro-
pose TO make, shall confne them 10 the origi-
nal amendment Of the Senator from Virginia :
for the modification of il, proposed by the Sena-
tor from Delaware has been just read, and |
have not had an opportunity 10 examine il with
attention; | believe, however, il does vary es-
sentially from the proposition of the Senator
from Virginia, except that il specifies, with
more particularly, the powers and duties of the
agencies proposed 10 be created in the several
the States, TO be given in express terms, TO the
location of branches, presumes that assent, I'M
less they dissent, in the manner pointed out. In
these particulars, the original amendment, and
the proposition Of the gentleman from Della
ware differ, but they are both open TO the objec-
tons which propose TO submit against their
adoption.
There are but two grounds upon which this
amendment can ask the favorable notice Of the
friends al n AyIiDDOI Rapk InIapd in tha ahl,a
and ingenious arguments which have been adj
dressed 10 the Senate, Two only have heen sug
gested and one OF them, so far from having the
support OF, is utterly denounced by most of the
Senators who have advocated and declared their
intention 10 vote for The amendment. | feel con-
hdent, therefore, that if any other views favor
able TO this proposition could be presented, they
would not have escaped the ingenuity and learn
ing of the Senators who have addressed us.
proceed, then, to consider the reasons which
have been urged to sustain this amendment, and
repeat that they are all embraced in the follow
ing, viz
|. That Congress possesses no power olocate
offices Of discount and deposit in the respective
States without their assent; and, therefore, that
the provision which declares that the directors
of the Bank may establish competent offices of
discount and deposit in any State, Territory, or
District, of the United States, and shall have
power 10 commit the management of the said
offices, and the business thereof, respectively, TO
such persons and under such regulations as they
may deem proper, not being contrary to law, or
TO the charter, Is unconstitutional
2. That II Congress do possess this power,
and that II would be constitutional act to ex
ercse H. is inexpedent impolitic, and unneces
sary TO exercise it, So that the objection TO this
feature in the bill is the want of authority to
adopt II, and the inexpediency of doing so, even
II that authority existed
meet this objection, in the double aspect in
which 1t has been presented, by expressing my
entire conviction that the power which is de-
MED does exist; and that SO far as existing
facts appear, and present circumstances are de-
veloped, it is expedient that this power be as
serted and exercised
|. Has Congress been invested, by the Con-
stilution, with power TO establish Bank of the
United States, with branches, 10 be located BY
their authority, in the several States, ndepen-
dent OF, and without the assent of the States.--
The very statement Of This question is calcu-
lated TO starIle some, at least, OF those who are
familiar with the legislative and judicial history
OF the United States, from nearly the com
mencement of the organization of this Govern
ment. Most of those who have been taught to
consider the opinions of the wise and patriotic
men who have advocated this power as exist
ing in the Constitution as entitled to respect
VI thosS " Ho nave pau IGSpcCt W itSIs-
lave acts and declarations oft repeated and
guessed in-of those who have cherished the
doctrine thai the adjudications of the highest
judicial tribunal OF the country on contested
questions OF constitutional law directly brought
before them, and necessarily decided, as putting
such questions, ever after, al rest hear with
surprise, at tins period of our history the renewal
OF discussion on this now settled point OF con
stltutlonaflaw. | do not intend 10 favor its re
npwa nv "a ont in n thp
claimed, derived rom considerations which have
led TO It's exercise for half century. | should
consider 1t work OF sup"rerogatlon to recapl-
tulate the arguments by which II was originally
sustained, and by which il has since been en-
forced. could add nothing TO what has been
better said by ADLER men than myself. NO rea-
soning of mine could elicit any thing new on
snbject which has been exhausted by the ge
Mus aud learning of the great men who have
preceded us. Nor shall refer to the recorded
opnious of enlightened statesmen, profound ju
rlsls, and distinguished constitutional lawyers
To the acts of successive Presidents of the Uni
ted States-successlve acts of Congress-ihe
general and very audible expression OF popular
sentiment They form part OF the history OF
the country, and are familiar 10 us all. Waving
all these concurrng circumstances which fur
nish overwhelming evidence in favor of the
power of Congress to establish these Offices of
discount and deposit, -waiving also every ar
gument supporting this power, which may be
derived from the objects designed to be attained
by the formation and adoption Of the Constlu
tion-waiving, too, the additional support which
the advocates Of the power find in the words of
that instrument, as well as in their obvious spi
rlt, when applied TO this subject call the at
tention of the Senate TO a single consideration
connected with the point am now considering,
which seems to me to be decisive, and which,
think, no ingenuity can remove, no reasoning
answer, no power Of intellect overthrow. And
this that is, the solemn, repeated, direct decl-
sions of the Supreme Court affirming this power.
Mr. President approach this part OF the sub