The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-08-25
VETO OF THE BANK BILL.
, the S,uate of the United States:

To the Senate of the United States:
The bill entitled "An act to incorPor
ate the subsc 'ihers to the Fiscal Bank o.
the United Sta,es," which originated il
the Senate, has been considered ny me
with sincere desire to conform my ac!i"r
in regard to il. to that of the two Houses
Of Cnngress. BY the Constitution il il
made my duty. either to approve the biI
by signing it, "r to return it with my Oh
ieclions, 10 the House in which it origin
ated. / cannot c"nscientiously give it my
approval, aud | proceed /" discharge The
duty required Of me by the Constitution
to give my reasons for disspproSing...
The power "f Congress tn Great" Ma
tinaal Bank to operate per sc over the
: Union, has been question "f dispute
from The origin Of our government. Men
most Justly and descrvetlly esteemed for
their high intellectual e"duwments, their
virtue, and their patriotism, have, in re.
gard to it, entertained different and con.
flicting opinions. Congresses have differ.
ed. The approval of one President has
been followed by the disapprovai Of ano-
ther. The people, at different times, have
acquiesced in decisions both for and
against. The country has been. and still
is, deeply agita,ed by this unsettled ques.
tim. 1t will suffice me to say, that my
opinion has been uniformly proclaimed TO
be- against the exercise Of any such power
bv this Government. On all suitable oc-
casions. during a period Of twenty-five
years, the opinion thus entertained has
been unreservedIy expressed. declared
it in the Legislature Of my native State
In the House Of Representatives of the
U. Stales il has been opehIy vinhicated by
me. In the Senate Chamber. in The pre-
sence and hearing of many who are at This
time members Of that b"dy, il has been
affirmed and reafirmed, in speeches and
reports there made. and by votes there
recorded. In popular assemblies have
unhesiia,iugly announcedit; and the last
public declaration which made. and that
hut short time before the late Presiden-
tiaI election. 1 referred to my previously
expressed opinfens as being those then
entertai ct! by me.
Viii, a full knowledge of the opinions
thus entertained, aad neve: concraied,
Was elected by the people Vice President
uf the United States. By the occurrence
of contingency provided for by the con-
s.itu,ion, and arising under an impressive
of Providence, | succeeded
to the Presidential Office. Before enter
ing upon the duties 0f that Office. ! took
an oath that would "Preserve. protect.
and defend the Constitution of The United
Notwithstanding The opinions allu.
ded to, and having taken this oath, the
Senate and the country will see that l
could not gise my sanction to measure
of the character described, without SUR
rendering all claim, to the respect Of hon.
orahi, men--aIl confidence on the part OF
The Ieopl--all self .espect-all regard for
ui"ral aud religious obligations, without
an observance Of which no Government
can be prosperous, and n" people can be
happy. 1t would be to commit a crime
which would net wilfully commit 10 gain
any earthly reward, and which would
Justly subject me to the ridicule and scorn
Of all virtuous men.
deem il entirely unnecessary at this
time to enter upon the reasons which have
brough, my mind to the convictions feel
and entertain on this subject. They have
heen over and over again repeated. If
some Of those who have preceded me in
hi. high office have entertained and avow-
ed different opinions, yield all conf.
dence that their convictions were sincere.
1 claim only to have the same measure
meted ou. to myself. Without going fur
'her into the argument, | will say that
ih looking 10 the powers uf this govern
ment to collect, safe'y keep, and disburse
the public revenue, and incidentally to
regulate the commerce and exchanges,
have not been able to satisfy myseif tina,
the establis hment by this Government Of
u Bank nf discount, in the ordinary acceP.
lalion Of that term, was a necessary
means. or one demanded BY propriety, to
execute those powers. What can the To-
cal discounts of the bank have to do with
the collecting, safe keeping, and disburs-
ing uf The revenue! ST. far as The mere
discounting OF paper is concerned. it is
quite i.nma,erial t" this question whether
The discount is obtained as State Bank or
a United States Bank. They are both
equally l'cal-bo.h beginning and both
ending in local accommodation. What
influence have local discounts, granted by