The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-21
dressed iargs assemble. In New York and disc.

wnefe, anu no Wnere did ne hear NalIondl
Bank once alluded TO- As late as October, 1910, |
General Harrison had declared before an i'm
mense assembly at Dayton, Ohio, that, in his
opinion, there was no express grant Of power in
the Constitution 10 charter such a bank In
regard to the glorious example of the fathers
of the Republican school, TO which the Presi-
dent had expressed willingness TO conform,
Mr. X. pronounced Mr.. Jefferson TO be the prime
leader OF that party, and he quoted Mr.. Clay's
speech OF 1911, to refute his present declaration
that MIR. Jefferson had sanctioned bank. MIR.
Clay, at that time, said:
Gentlemen contend that the construction which
they give to the Constitution has been acquiesced in
by all parties and under all administrations and they
rely particularly act which passed in 1904 for
extending branch TO New Orleans, and another act
Of 1907 for Furnishing those who should forge utter
forged paper of the Bank. With regard TO the first
law, passed no doubt upon the recommendation of
the Treasury Department, would remark, that il
was the extension Of branch to Territory over
which Congress possesses power Of legislation almost
uncontrolled and where, without any constitutional
impeachment charters incorporation may be granted
As TO the other act il passed no less for the ben
eft Of the community than the Bank-to protect the
ignorant and unwary from counterfeit paper purport
ing to have been emitted by the Bank. When gentle
men are claiming the advantage supposed to be de-
ducble from acquiesccnce, let me inquire what they
would have had those TO have DONE who believed the
establishment of the Bank an encroachment upon
State rights"
Thus Mr.. Clay answered his own argument,
SO far as Mr.. Jefferson is concerned. AS TO Mr..
Madison, his position was very different from
the circumstances under which Mr.. Tyler is
placed. In 1871, he made able argument
against the constitntonality Of Bank, and pre-
pared, by request, veto of the Bank at that
time chartered, for President Washington he
vetoed Bank bill in 1915, and when he finally
consented to sign such bill in 1917, the posi-
ton he occupied, was such as he afterwards ex-
planned, in letter to Mr.. Ingersoll, in the fol-
lowing words
1t 1.-THE bank ACT, had been carried into execution
throughout period Of twenty years. with annual le-
gisative recognitions; in instance indeed, with
positive ramfcaton Of it into new State, and with
the entire acquiescence Of all the local authorities
well as the nation at large; to all Of which may be
added, decreasing prospect of any change in the
public opinion adverse to the consttutonaty of such
an institution"
The position of President Tyler is different.
The na,ion is certainly divided on the question,
and many of the local authorities are in open
arms against the Bank, and transmitting their
circumstances to Congress, and the prospect of
change in public opinion FAVORABLE to the con-
sttutionality Of such an Institution is apparently
decreasing. The cry Of repeal is every where
raised, and the measure itself, was in minority
in the Senate-an old fashioned National Bank
cannot now pass that body.
Mr. RIvEs repealed the idea that the Presi-
dent, could have for a moment thought of the
course intmated by the Senator from Kentucky
that he might, without violence TO his con-
science, have permitted the bill to become law
without his signature, by the lapse Of the ten
days prescribed by the Constitution. Mr.. Ty-
Ter was not the man to skulk from responsibility
He had sworn to preserve, protect, and de-
fend" the Constitution of the United States ;
was he to become an accessory to the crime Of
its violation, by folding his arms and permitting
an act which it was in his power, as it was his
sworn duty to prevent? He took the response
bility like man, and discharged his duty con-
scientiously and honestly. The Senator from
Kentucky thought the President looked too
much into his own heart, and not enough to the
public good. Mr. Tyler is as ambitious as any
man of an honest fame, and he had no doubt he
found in his heart, no other motive, but desire
to discharge his duty rightly and faithfully be-
fore God aud his country, without any fear OF
consequences personal to himself.
With all due Difference to the Senator from
Kentucky, who, Mr.. Rives said, had exhorted
his friends TO go on and make a Bank of the
United States, he hoped no such further effort
would be made at the present session, II was
great and important matter, and ought not to
be made party measure. The country was
deeply interested, and he referred TO the views
of Gallatin and Appleton, as intoxicating caution
and deliberation in the creation of Federal in
stituton having reference to the finances. lie
was wearied and worn out by these dog day SEES
sions, and hoped that the whole subject would
90 over to the next session. unless 1t be thought
essential to pass some temporary act. The re-
representatives. would in the mean time, have an
opportunity to minge with th,r constituents,
and come back in the cool weather of winter,
better prepared for action than they seemed to be
now. But if they can reconcile conflicting OPT
Mons, and report such bill as he could consc-
entously support, il should readily receive his
vote.
Mr. CLAY rejoined in second speech, which,
before its conclusion, became unusually impas
stoned. There were passages in ii Of great pow
ar n nd eloonence In others unfortunatey we