The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-09-25


which have been received by both Houses Congress
during this session. proof OF the hercuiean abors
which have devolved upon the Executive and then |
surely the gentleman will cease to sheer at the decla-
ration of want Of time, especially u ne VIII dsest
himself for moment of his personal feelings, and
calmly consider the great importance OF the questions
involved in the subject of the establishment Of ascai
agent of the Government. t.e
The gentleman tells that the President objects
10 the feature of the bill which in his opinion authorizes
local discounts and then trumphanty turns the
jet submitted by the Secretary of the Treasury, which
authorizes the same thing and charges the President
wilh inconsstency-avowing, as the gentleman does,
that the plan emanatng fom the Secretary was APP
proved BY the President Now, sir deny that the
details of the plan submitted by the Secretary of the
Treasury ever approved by the President; and
call upon the gentleman for proof of his assertion
But admitting, for Arguments sake, that It was sub
mtted to and approved of by the Presiden, and tax.
ing the gentleman's statement that twas National
Bank with all the powers necessary to such an inst
tuton-to deal in exchanges foreign and domes,ic-to
discount local paper, &c.-I ask the gentleman why
that plan Immediately rejected Why was 1t
pronounced g poor, rickety affair 2" Why, if you
were SO anxious for Bank, did you not at once &C
cep of this plan II had, you confess all the powers
and privileges of National Bank. The gentleman
may say that required the assent of the States TO es
tabish branches and therefore was Objectionable
Well sir so did the first Bank bill you passed But
may be said that it only asked consent by indrec-
ton that il merely seemed to ask the consent OF the
States but in reality asserted the power of Congress
to establish branches Then, sir, 1t was no comPro
mise as YOU have again and again asserted II To be-.
1t did not Internationally require the assent OF the
States and therefore did notneet thePlesidents %
lection, that, take the question IN either the
gentleman is fault in his charges Sir, he can give
u.s. if he will, the reason for rejecting the prC1et ol
the Secretary, and for pressing these two Bank bills
ON the President with SO much haste. aa .sg.g..
The. first bill that passed all acknowledged to be a
most contemplate affair. voted for il reluctantly
Several Of the most prominent Wings In this ttouse
voled against it. Not single approved OF the bill
Il can well understand sir how unwilling its trainers
were to make an issue the fate of that bill L. was
therefore necessary to frame another And long
before it went to the Executive, the gentleman from
Virg nia predicted condsntly that IL loould be petoea
He openly avowed this opinion on the hoob and said
that when the Veto came, he for one would speak
freely of the Presidents course. And, sir, he has
done so to-day. But how came that gentleman to
know, that the President would veto the bill = he
appears sir be in the secrets of the Executive Or,
did he know that the billwas palpably objectionable
that it could not but be vetoed Or, sir, was 1t
framed with view of heading the President? SIR,
if the gentleman will not dispe the mystery hanging
over all this Bank business, will The whole Sc,
sion has been passed in /" President making" told
you so few days since tell you so again. And
repeat that from the first meeting of Congress TO tn
hour, there has been determination on the part OF
some gentlemen to create issue with the President
His constitutional scrupes, well knownxand openly
IL
avoiding them the most absurd and eyasive PROPOSE
tons have been presented to him, with full know
ledge that they could hot receive his sanction In the
expressive language of the gentleman,here has been
| every means used to " head him"--to make him sign
a bill which neither his conscience nor judgment APP
proved and thereby violate all his long cherished prin-
ciIes and subject himself to the scorn of the good
and viruous Or by refusing his assent 10 become an
object Of abuse and Misrepresentation for those who
hate him. and look upon him as standing between
them and the objects of their ambition Why, sY,I
even this day, the gentleman from Virginia. when
speaking Of the President, proclaimed as his motto
Head him, or die" ltevinces the nVeteracy OF his
opposition. He may choose what motto he pleases
admire neither the inscription on his banner nor the
object for which he struggles tell the gentleman
" Beware of the People" They fought under no
such banner during the lateacontest They, sir, are
not willing that while you play this desperate poiti
cal game their interests Their principles their honesty
of purpose, shall be sacrificed and forgotten in the
heartless Screenings of ambition They did not send
here, sir to plot ndconnierPlot to mine and coun-
termlne for political purposes they dd not send US
the resident. Aud 1 think when we return home
they will inform us that it is not fitting employment
fol Legislators and statesmen ! know, sir, that It is
difficult for the people to understand the undercurrents
of legislation but having mistaken faith in their de-
berate Judgment eal not their verdict on the mat
tiers now agitating and exciting the nation.
NJ sir have but object in yiew11a sincere desire
to perform my duty ito do justice to the President to
II
from the days of my boyhood, to produce harmony
4 and union amongst those with whom have SO long
been associated and TO nculcate concession and for
beaIance in lieu of the unfortunate spirit Of strife and
enmity now so lamentaby palpable. i shall, there
4 fore give briefly what conceive to be an analysis of
the message now before Us. The resident says that
Il he cannot cJnscientousy approve of the BILL vola
ing, as he believes it does the Constitution which he
has sworn "to protect, preserve, and defend"
4 Admitting that the veto power ought to be exercised
4 nd ryafva
yet the President justly says that alternative is left
4 to him. if the bill presented is his mind clearly vio
Il iatve of the Constitution @
az He considers the Constitution Of the United States
Y as the embodied and written will of the whole peo
I pe," unanimously adopted, and prescribing to the
public functionaries imperative duties.
He considers that this bill, which processes to esta
\ blish an agent of the Government purely national
grants powers not required for the operations of the
| Government, and at with the Constitution. He
objects 70 the power granted Of making local discounts
unnecessary to the fiscal operations of the Govern
ment, and subjecting the public funds TO loss and
to improper by the officers of the institution He
contends that the permission TO deal in exchanges
| without limitation, time unlimited, with power of
renewabilty unchecked and at rates of interest
strained powers improper to be granted and liable
10 be grossly abused not only njuriousy to the Gov
eminent, but to the People. He contends that the
power to deal in this kind Of exchange is obnoxious
to all the objections made to local discounts. He de-
MES the power assumed by Congress to invest local
institution with general national powers. He con-
tends that under this bill fictitious bills of exchange
can be drawn without limit, whereas all operations in
exchange ought to be based upon real and subsan-
ai basis in other words, he is in favor Of combining
the operations of the institution to true business trans
actions. a "#. '' Vs.
He considers that the bill would have tendency
postpone indefinitely the resumption of specie pay
ments by the banks He contends that an institution
which is continue in operation for twenty years. and
enjoy exclusive privileges the powers granted to which
are rrevocabe, ought not to be thus liable to objec-
tion and that il be over hazardous to pass such
bill into a law. " >'sa s.A. -'"
The President regrets the differences Of opinion
isfg that the matter be postponed and says
that the regular meeting of Congress in December
next, it will be his duty under the Constitution, to
recommend such measures as he shall judge necessary
and expedent. These, | believe, the leading
points in the message; and, sir have no doubt but
that the President, through the Secretary of the
Treasury, will at our next meeting, present plan
which, avoiding constitutional objections will answer
all the purposes of the Government, regulate, incl
dentally, the currency and exchanges, and receive
1.-THE sanction of Congress But sir if the spirit mani