The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-09-30

IRE
sident upon every point, nor of the members o
tie Cabinet | can only state the substance ,
what was said upon those points which most al
trseted my attention.
The President commenced by stating that b,
hBd been waited upon that morning by a commit
tee Of Members Of Congress. who desired to know
ilia We're upon the utject OF a bank-such ont
is he could sanction. lie h1d given them I'd
satisfaction uPon that subject, but had informed
licH that 10 would Grst consult with his consti
iHiioRai ady,seEs-his Csbinet--through whom
he tbongfi il most regular that his views should
be communicated lie asked the opinion of hi.
!. tab!nct upon the correctness Of the ground he
I had tshrn remarking al the same tame, that the
habit Of expressing he views Ia Members Of Con.
gfess upon subjects VI 50 much nteres, subjected
hua to great embarrassment and much msrcpre.
sentatioa. Thot question being disposed Of, tile
President ldyerted briefly. but without much con
neEIani 10 the relation Ia which tie stood 70 the
Bang question, and his disposition to 90 as far ;
NJ could TO co'Hlsy with the islles Of his friends
lie spoke Of I've relation that cx isied between
him aud bis Cabinet, ana how necessary il was
that ie should have their support Would they
standby him lie much Bstlt.rat. that the whole
sVheei suould Lc postponed unul The next scs.
slnu b'i II It W9s necessary TO act nov, he
tanGght plan might be devised which, with
( Their cp- operation, might be carried through -
iio wondered why the Senatc continued 10 post
pone acting upon his Veto Message, l.ich was
yet 10 be disposed Of iie supposed Il might be
TO hold il as roll over his head ana had some
doubts whether il was proper tl.t 10 should con
slder further upon The SUBJECT until the Senate
had decided what they would do with the BIZ
then before them. Some one present assured him
tb1t tie postpoucmeLt Of the question pending
IN tho sunate was INTENDED 10 give time for re-
lection, and 10 prevent an inteupcrata debate.
The President then gave the outline o. such a
bank d focal institution as he thought he could
slnctioa. II vas 10 be in the District Of Colum
bia' TO have the privilege Of issuing its notes,
receive moneys depose, and to deal in bills OF
exchange between the States aud between the
United states and foreign States. Bat he wish.
90 ,c haye the opinion Of his Cabinet Upon it
Ills own consistency and reputation must 10 look
"a to. re considered his Cabinet his friends,
who must stand BY and defend whatever he did
upon the subject He appealed particularly 10
Alr. Webster for BIS opinion upon the point OF
conrlsiaUcy; and Whether there was not clear
between the old Bank Of The Uuitod
57Ha 81 Discount and dep51te and tie
one he ROW tholghi Of proposing and whether
the constitutional question was not different. He
as ln8t, IN all his former speeches and
reports hc bod taken the ground that Congress
bad 10 co9staYtiuplI power TO charter bank
which had the power Of local discount Nh
W etsicr pe,ntcu cat the distinction between the
Two piats M manner which appeared To &c sat
sfaaiorg 10 hun. The subsistence Of hat he said
was as ! understood him, as follows lie had a
decided preference FOR bank upon the plan then
proposed over either Of those which had been
previously spuEcn Of lie reminded tie Presi.
ieni that he had expressed his preference for
bank which should be restricted in its dealings 10
5i!ls q exchange, when certain gentlemen from
hc cHy Of New orb we're present several weeks
4aiety, lie then thought, as he did now, that il
would answer al ascfl, purposes, One ground
81 this preference wcs, aud il had groat weight
; lth hIm, bat Tic plan did not contemplate the
consent Of The States as, IN any way o. al any
irne, necessary to its existence or efficiency. lie
thought the plsH proposed al the comnen cement
IF the session, generally known as Mr.. Ewng's
I'LL, as incoagraous and Objectionable on this
sFound. Hrs general course Of thinking on such
u4eeis led him to prefer that whatever power
ms Government asserted, or was authorized to
lsSert, should be exercised independently Of Stale
iuthofilv, aud Of the interference Of the States,
fe thsaaId there cenld be no doubt of the con
tiuiieHai power TO charter such a bank as was
ben proposed, according to the Presidents own ,
nodes OF thinking upon that subject if ho m
ersiood them Certainly there was clear dis,
nv '"s4 INV 'f'' HCh u patih anu rue late Dana
= Tue United states. The one now proposed was
be iimi'es m ITS operations 70 such objects
'ere clearly within some of the general provis.
'as % the Constitution or such as were clearly
ocess@fY m Tue execution OF others. The priv
egc q ISSUING as own notes, Of dealing % ex-
hanges, ana OF receiving moneys on dcposile, (
u appeared TO have immediate reference to or
onnsNIon With power given in the Constitution
ge' commerce between the States over tho cur c
'ncy, amt The necessary fiscal operations Of the
cvrr1nea' 10 The collection, saio keeping and |
isbnrsement % the public reyence. These were 9
Z SUBJECTS Of national, and not local or State
'nctra The distinction between tins plan aud I
le late Bank OF lie United states lay in this :,
lo privilege cnJoyed by the old bank, Of dealing
loca! paper or aiscounrng notes having lao o
rculuon, as i might be, bu betaoan the dilicr, I,
i streets n commercial points OF the same city,
I'd no coaaeXion with she trade or commerce be- a
'esn the States aud remote sections Of the Unit p
}, nor with the transfer Of the public moUey
ON one Poial to another and it had, therefore, b
. necessary conncXon with any Of the great IA.
onal objects for which the bank was chartered ="
d could it be claimed as an incident to any of =
e powers given TO Congress bv the Constitution :,
hat priYilege DO aPprehendod, was conferred
ron tho late bank from the belief that without il III