Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1841-09-04

cerned, it 4 |. quite immaiterial 10 this dues
ton whether the discount is obtained ut ;
State bank pr a United States bank. They
are b 9TH equally 'ocal-both beginning an.
both ending in d local accommodation
Whltiniuence have local discounts, grant.
ed by any form of bank, in the regulating
of tie currency and exchanges Let the
hist DRY Of the United States Bank aid Us
in answering this inquiry"
TO us, this objection ii at, once nove
anil cogent. We do not doubt the power
Of Congress to establish a national bank.
anil to LOCATE branches, nolens roleas, in
every State, Territory, and District of tho
Union, provided that measure be clearly
necessary to the fiscal operations of the
government. Deductions simple, logicaI
and irrefutable, sustain the opinion, as dc
als o the most noted and numerous consti.
tuf ional authorities of tie country. But
whether a national bunk, with the power Of
di scounting local paper, can find more than
a very remote plea in favor Of it's consti.
nationality may well be doubted. in what
way do these local discounts aid the opera.
tons Of the government? Do they increase
the circulating medium Admitted; but
is an increase Of that medium necessary
Have we not enough of it such as it is
Would not II bank regulating exchanges
and %discounting COMMERCIAL paper, OF
drafts on places at a distance from its To-
cation, answer all the, purposes Of. the 20.
yernment,, and thus fill the limits prescribed
by the constitution! Let those who cherish
the constitution more than they do a bank,
reflect matureIy on this view of tho ques-
ton.
+, The President further observes, that the
power Of LEGAL discounts in the late bank,
''proved to be a fruitful source of favorit-
ism and corruption, alike destructive 10 the
public morals and to the general veal"
Who al deny this statement land
what friend 10 his country I'VE ask nit his
politics) Gun lay his hand upon his hcart
and say he desires to see revived in all its
features, the late bank of the IT,. States Z
And yet Wigs call that bank sthe best
the world ever had !" :
The second and last grand objection to
the bank bill presented for his signature, is
found in the " 10th fundamental article OF
the 18th section" It ID the famous ICON.
promise clause the latest instance Of the
submission Of PRINCIPLE to E~xpEDIESdy.
We need not copy it here-all have read
it. 1t pretends to yield the States all that
the most sanguine state-rights men ever
asked, and yet it pretends to yield them
nothing. 1t recognises the doctrines Of
Calhoun and Riyes, But informs those gen.
tlemen at the same time, that the teach
ings Of Hamilton, Jay and Marshall, are
alone to be oteyed, and that if the latter
do not voluntarily submit to the former,
compulsory measures will be used. # is
a %momentary choice, of two evils-adopt.
ing tho lesser now, but assuring those who
administer the pill, that the patient will
vomit it up, and return ere long to his an
cient regime. !.
We despise this truckling. Honest m ne
should never choose an, evil-be it small or
great. He who CHOOSES a small evil, under
certain circumstances will choose grester
n under different circumstances. Were
there no other objection to this bill, the
"compromise clause" should divorce it
forever from the favor of every. honest
straightforward man. If Congress, one
year from this time, be empowered BY the
constitution TO create a discount and de.
posite bank, with branches in all the States,
it possesses that power now. IT IT possess
that power now, it cannot, but BY the
grossest injustice to the American people
yield it for an instant into other hands
The trainers of the constitution nowhe re-
contemplate a privilege ike this they l, ~
down rules which the body Of the NAT .on
alone land not it's Representatives cu / al.
ter, suspend or modify.
The difficulties supposed by MI. Tyler,
as consequent to the clause in gu .stion,
are BY no means imaginary. ri ~ arc
just those which must strike every reflect.
ing man !, and it is eatralIy ratioI al to in.
fer that the evils already suppos ID, would
be. followed up by others still IN ,re alarm.
ing and drcadful-disunion an. civil war.
I'VE thus arrive at the cor :lusion that
Mr.. Tyler's veto was foundeI upon sufi.
cient and constitutional groI nds. Let US
now inquire if the country es.n expect that
he will sign any bill whatever, creating q
national Bank
It is argued BY, some from his veto
message, that he cannot. Here again we
"joln issue" The President, Oh various
occasions, and under various ciiir;cu,astan-
ces, has admitted that. a bank, conforma.
bic to the constitute, a, might be establish
ed, 70 his ilnaueg iral adde's, he stated
that he, should be Happy to conform TO the
views Of Congress, by signing d bill fol-. a
constitutional ; ank. a bank, then, .ac-
cordingst to the; President, n.ey be constitu-
tional, and branches Of d constitutional
bank, IN spi..e of all circumstances, may
be locate1. in any State, Territory or Dis
trlct unt. sr the general government. There
is, the !, still aH existing possibility, that
a nat .onal bank will. be created at the
pres mt session Of Congress-,
This result depends upon one question
is John Tyler. more honest, and less
ambitious than other politicians, or is he
not ftthpe President has acted thus far
from motives purely conscientious, tr.
prospect is still fair, that the extra session.
will be fruitful . of good works." 1e he
has acted, as many believe, from n olives
of policy, with an eye single IT, mis- W
glory" like Gen Jackson, we may cor.
claae With c'ufy that " the g's up" II
he kias resolved in his OVID mind to try for
a SECOND tern, he will throw his "virginilaa
principles between I've nation and. every
form OF a. governv ,ent bank. He viii
follow Y the foots1eps'' of the /" Giaersl"