New-York tribune., 1841-09-11
7 II E T RI B U n E.
SATURDAY MORNING, SEPTEMBER IL
From our Extra of Yesterday.
SECOND VETO MESSAGE
a, tho pre.;seu, on the FISCAL BAEK E7LE

TIM TLnssO Of RepyGs the
Itis with extreme regret that feel myself constrained y
the duy faithfully to execute the Office OF President OF the
United States and the best Of my ability 10 preserve
orocc and defend the Constitution OF the United States,
n return 10 that House in winch 1t originated the bili to
,ove for the better collection safe keeping and dsburSc
mon, of the public revenue bv of corporation to be
,ed the Fiscal Corporation Of the United States with my
written objections.
In nv Message the Senate the 10th day OF Au
cs, last returning the Bill incorporate The Subscribers
,o the Fiscal Hank Of the nted States distinctly declared
that my own opinion has been uniformly proclaimed TO be
against the exercise of the Powero Congress to create Ma
,ona Bark operate per over the Cnon ana enter
,sining that opinion my main becon 10 that Bill was based
upon the highest moral and religious Obligations oi conscience
and the Constitution
readily admit, that, whilst the qualified Voo with
which the Chief Magistrate Is invested should be re-
psrtsd and was intended by the wise men who made
il part OF the Conststlon, great conservative prnc
pe of our SYSTEM without the exercise OF which, on mpo
liant occasions, representative majority might urge
the government, lis legislation beyond the limits iAed
by its franers pht lis Just powers too hastily or
oppressvciy, yet II - power which ought to he most
cautiously exered, and perhaps never, except In case
emlneny involving the public interest, or one III wnch
the call of the President acting under his convictions both
mental and moral, mperlousy requires lis exercise. III
such case he has alternative He must either exert
the negative power entrusted him by the Constitution
chiefly for It's own preservation protection and defence or
commit act of gross moral urpliude Mere regard 10
the will OF majority must not, IN Constitutional kepuo
officer.
The constitution itself regard and cherish the embo
died aud written will of the whole people OF the IAted
States II stheir fixed and fundamental law which iey
unanimously prescribe 10 the public functonares, their
mere trustees and servants This their will, and the law
which they have given the rule OF our acon has no
guard, guaranty of preservation prot-cuon and de-
fence but the oas which Il prescrlbes 10 pubic officers,
the s2ncttv with which they shall regiousy observe those
oat and the patriotism with which the people shall shield
it by their sovereignty, which has made the consilu
lion supreme II must be eXerted against the Will o
mere representative majority at all 1t Is alone III
pursuance of that will that measure can ever rcach Tue
President and that because majority IN Congress
have passed bill the President should therefore sanction
if is TO abcorate the power altogether and 10 render lis III
seron in the constitution work OF absolute supeieFosa
ton The duty lis guard the fundamental Will ol tht
ppople themselves roni-in this admit unntenilonal
change infrac'ion by majority IN Congress- and IN
tha, light alone do regard the constitutional duty when
now most reluctantly discharge.
this ball. presented tor my approval or dSapf9Nai
such bill as have already declared could not receive my
sansoul Is such bill calls for the exercise OF e
negative power under the constitution Does violate the
constitution by creating National Bank, 10 operate PEI Sc
over the Union Its title, in the first place. describes It's
general character IL is An provide Tor The better
collection, saekeepng and disbursement OF me nNe Ie'e
nue. 10y means of Corporation, TO be styled ne f@cH
Cooperation of the United States In style, them IL Is
plainly national It's character Its powers iuuctons anc
duties are those that pertain the Collecting ktCPng and
dsbuSisg the public revenue The means by winch ines
are TO exerted Corpordton To be styled the fScd
CORPORATION of the United States Ii IS corporation Gre
eed by The Congress of the United States character
national legislature for ihe whole Union, 10 perform the
fiscal purposes the fiscal wants and exsencles, sup
ply the fiscal uses ana exert The fiscal agencies oi The urea
sury OF the United States
Sucb Is IFS own description OF itself Do It's provisions
contradict It's own te They do II true, that by
provides that II shall be established in ie
District of Columbia but the amount OF ITS capi'ai-'t
which stock is be sub5crib2d TOR and held
ihe uersonS and bodies corporate and pou" oy Wo Us
stock may be he!d;he appointment OF Its directors and
their powers and Gaesi,s fundamental articles, espe
ealv ihaj TO establish agencies any part el the hion
the corporate powers and business OF such aSenccSihe
PROHIBITION of Congress establish any other coporaon
with similar powers for twenty years. with express reser
vaton in the clause modify or create any bank IN
the District of Columbia that the aggregate capital shall
not exceed five RllNonS-wlhou eRureratng oiher lea
which az equally distinctive and Characteristic
clearly show hat cannot be regarded as other thun
Bank of the United States with powers seemingly more
limited than have heretofore been granted by such
siltuuon
!, operates per Sc over the Unon by virtue OF the un-
AIDED and IN my view, assumed authority OF Congress as
national Legislature, distinguished from Bank cF7 7aed
by Congress Tor the District OF Columbia the loca e
eature OF the District Every United States bank here
tooye created, has had power 10 deal in Bills EXc.rge
we'll as local discounts Both were trading privileges
conferred and both exercised BY v:ue of the aforesaid
power of Congress the whole Union The question
OF power unchanged without reference 10 the en-
tent OF privilege granted Ii this proposed corporation
10 be regarded local Bank OF the District of Columbia
invested by Congress with general powers to operate over
the Union il obnoXlous 10 still stronger objections 1t
assumes that Congress may invest local institution with
general or national powers With the pyopriely that
may do this in regard Bank of the District OF Coun-
ba, II may as to State BarA Yet who Can indulge the
idea that this Government rlghuully, by making
State Bank It's fiscal agent with the absolute and
unqualified powers conferred by this bill When 10
look 10 me details of 1.-The bill, they do not recommend
strongly 20 my adoption. bret noIce OF some OF lis pro
visions will suffice
Isl; l, may justify substantially system Of discounts
the mos, Objectionable character 1t is 10 deal IN bills
exchange drawn in one and payable another with
out any restraint, TIE bill OF exchange may have an un