The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-03
THE MADISONIAN
DEBATE IN THE SENATE
on rHE


An animated and interesting discussion arose
in the Senate on Thursday, on The motion OF
Mr.. RIvEs of Virginia, TO amend Mr.. Clay >
Bank bill. by inserting provision requiring the
assent Of the States TO the establishment OF
branches within their limits. On this question,
The Senate was addressed at length and with
great ingenuity and ability, by Messrs. RTEs
and PREsroN, in favor Of and by Mr.. CLAY, Of
Kentucky, in opposition TO the amendment In
advance Of more full report which we hope
soon 10 be able 10 publish, we will endeayor TO
give an outline of the views OF The Senators.
Mr.. RIyEs stated that his amendment had been
modelled in consonance with the plan OF the Admin
isration which had been presented 10 the Senae, on
the call of the Senator from Kentucky. All agreed
that the establishment Of new fiscal agent OF some
sort was necessary. The sub Treasury had been re-
pudiated by the people. What must be substituted !
lie was always OF opinion that the State bank deposit
system could be made to the purpose but In
this he was concurred with side only by his
colleague while the Opposition, who had created the
system had with unnatural and erocious rage endea
vored TO devour their offspring. This now seem
ed 10 stand no chance. But he DESTROYS that
be settled and the country freed from the agatons of
selfish politicians When the Secretary Of the Tiea-
sury proposed a measure, avoiding Constitutional OBJ
jections, he thought he the star Of peace aris-
ing Speaking, he presumed, the views of the
Administration, he had brought forward plan
that invaded no disputed territory. The power Of
Congress create Bank in the District of Columbia
uncontested It had been exercised from the orr
gin of the Government 10 the present time and had at
various times been conceded by Giles Eppes and Bur
we'll OF We. Stone of Maryland by the Senator from
South Carolina, Mr.. Calhoun himself, and by others
of the straighies sect of the school of State
Rights and Strict Construction. 1t had also been add
United by the Grand Lama of the An,i-bank party
General Jackson, and by Mr.. Van Buren, in his letter
to Sherrod Williams. And he appealed to gentlemen
both sides of the chamber to give 1t their support
IN spiiit of peace and compromise lie asked his
honorable friends only TO eoncede as much as Maine
and New Brunswick had in reference to tie disputed
boundary line. He did not ask them to surrender
their principles but only TO iobear to exercise them
under the circumstances Of the
In reference to the power to establish branches,
had been urged with apparent plauslbity that Con-
gress could derive power from the consent of the
States which it did not already possess This was self
evident general proposition. But Congress has
power establish Bank in the District-the States
have right to consent to the establishment of
branches within their limits. The States
regntics Virginia has right permit branch of the
Bank of England at Richmond if she pleases. Mr..
Rses referred to the fact of the States cedng por
ton of their territory to the Union, as in the
case OF Georgia and Connecticut, Was it not made
al.
lucky himself in regard to the Cumberland Road,
that the consent of the States to its passage through
their borders should be first had and obtained 3
Where is the power to deposit the public money with
the Treasurers of the States without their consent
Yet, with their consent have we not that powerl
He could say much more, and array on his side the
authority Of many great names. Mr.. r. read an ex
tract Of letter from Mr. Jefferson in confederation o.
his argument. He also reminded the Senators from
Pennsy lvania, that their Republican Commonwealth
had instructed her senator's in Congress to sup
port institution whose branching power should be
confined to the States asserting. He hoped those
Senators would regard the instructions still bind
ing and would do him the honor to with him on
Ibis question.
1t had been said that the question Of the power of
Congress to establish banking institutions the
States had been settled. With great respect and de-
ference he differed from OF his political friends
He thought il not settled than the boundary
question. Each party has forborne TO upon that
Territory and thus preserved the peace Of the world
Why not initiate this example II gentlemen appeal
TO the authority OF Congress in 1891 appeal to
the same in ISL We refer many of them to their
distinguished parts in 1911, IA, and rs If they
.l,l.. r
1886 Nor did the People settle the question in favor
of Bank like the old one in the late election. He
referred to General Harrison's written opinions in
1S22, and TO his letter TO Sherrod Williams in 1886
in neither OF which did he affirm or claim the power
TO Bank, but the contrary believed it could
not be chartered without clear and ispensablc
cesslly Many OF the People Of Virginia supported
General Harrison account OF his in opposl-
ton TO Bank with unrestricted powers. How
it with the candidate for the second Office No one
was more thoroughly committed agains, a Bank
Mr. Cray here in,crposed declaring it out of order
to reirI to the opinions OF the Executive, but Mr.
Rives dscalming any intention of referring the pre-
sent views Of the President, Mr. Clay withdrew.
Mr. Rlvrs continued. The Senator from Kentucky
thinks the question of power has been often settled.
1t has often been unsettled
Those who think they have the decision Of the ma
ton the other side little inpatient This
great and that great man quoted IN their be-
half He referred To elaborate article ia of the
respectable Journals Of the city (,he lnleIlgencer) en-
deayorng TO show by pIiVae letters that Mr.. Jclfer-
som opinions the side of the constitutionalty
Of the Bank. lie quoted a letter Of Mr. Jefferson to
Mr. Eppes written three years after the passage Of the
Bank showing contrary views His object was mere
v 10 shnw that the QUESTION of uower never had boon