New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1841-04-24
MR.. CRAWFORD on A NATIONAL BANK.

MR.. CRAWFORD on 4 NATIONAL BANK.
WILLIAM H. CR.wroRp entered Congress. at an early
age and at once distinguished himself by ability and cnPa-
city, especially in regard questions OF Finance. lie
in the Senate in 1911 a.d then vo,ed favor of rcchartcr
ing tho first United States Bank which defeated 10y the
ca-tn. veto OF George Clinton. lie a leading CHAM
pon in Congress of the Democratic acendancy during the
Last War with Great Britain. He appointed Secretary
of tho Treasury .ooa after a.d continued that
capacity till I325 when Mr. Adams pressed him retain it,
but illness compelled HIM to decline He selected in
1924 BIZ Congressional Caucus the Democratic candid
ate for President and warmly supported by Martin Van
Bursn and his parti,ans in this STATE lie received tor
Prcdcr, the votes of yRcISIA GEORGIA, Delaware, and
mart of those of NewYork and other States. All tins
time it was well known that he early consistent NJ
dent advocate OF National Bank vet nobody thought OF
opposin him on tla ground and ho received the OF
the States which profess tho honor of any such IN
stituton az unconstitutional.
In 1881 when the question of rccllarering the last Ma
,ional Bank a under consideration, Charles IngersoN
now the sbles champio. of LocoFoc"isr in Pcnnsy7a-
.a then the interchangeable advocate Of National Bank
wrote to several of the most distinguished Statesmen in the
country whv had passed into retirement soliciting express
sion of their opinion. propriot and necessity of hav
ing Bank. Nearly all answered avoraby TO such
institution especially JAMES MADlsoS and WILLIAM II.
CRAWFORD. Mr.. Crawford opinions entitled
weigh, from his long services Tie head of the Treasury
Department They as follows
WOODLAND, Dec. 1881.
DEAR SIR: Your friendly letter, The subject of the
United Bank has been received by due OF mail
The opinion which Termed of the Bank OF the United
States when was member Of tho Senate, the result
of careful examination of the Constitution of the United
States made without prcconceiycd opinions That opinion
recorded in speeches which made in the Senate in
the wear 1911 Since that time have had occasion OF
reviewing the question: Mr. OPINION REMAINS USALrEREp.
was Secretary Of the Treasury than eight years,
and during that had ample evidence of the great utility
of the Bank of the United States in managing the fiscal con-
Germs of the Union persuaded that man. whatever
his preconccyed opinion may be- preside the Trca
surv year. without being deeply impressed with the expo
dencv of the United States Bank il conducn. the finances
of the Union.
The provision Of the Constitution which gives Congress
the power pass all laws which may be necessary and pro-
per TO carry into effect the enumerated powers gives Con-
grcss the right TO pass the Bank Bill unless law
proper to carry into effect the power collect and distribute
the revenue should be excluded by that provision.
The opponents OF the constituonay of the Bank place
great upon the wr NKcEssARr contained in the
grant power and insist that law be necessary bu;
such that without which the power could not be carried into
effect Now this construction appears 10 mo to be ndctcn-
sblc 1t does me- that the words NECESSARY and
PROPER exclude ar that most proper
the power into effect Yet the unconstituonay OF the
Bank can &c pronounced only upon that construction.
l, docs appears that the trainers of the Constitution
never could have intended exclude the passage of law
most proper to carry into effect because might be carried
mpercctv into effect by another law. My construction Of
the grant power pass all laws which be
carry the enumerated powers effect include the power
pass all laws which necessary and power to carry the
enumerated powers effect in the perfect and
pce manner and in incomplete and imperfect manner
have q complete development of the President
plan of bank. 1t is possible that by his plan, the transmits
sion of the may be effected but the safety of the
pubic dcposes cannot be effected by the Presidents plan
The advantage of this security the public is ncalcuabc
ought be cnquiskcd unless be substantially
proved that the Bank OF the United States unconstu
tional.
This think cannot be satisfactorily shown. Ny speeches
are recorded and be rcpublshcd necessary. They
contain result of the best Investigation able give
TO the subject am persuaded l could improve upon
it now if had the of investigating the SUBJECT which
"A' WM H. CRAWFORD.
C. ]: IserSsOll, Esq.
RATES OF IxrERrsr-Thc following are the rates of r-
ercst in the States and Territories OF the Union together
with the punishment of usury. Ii is valuable statement
and should he preserved:
Maine, 6 per cent-forc Of the DEBT claim.
New-Elampshrc per coat-forfcit Of three times the
amount unlawtul!v taken
Vermont 6 per cent-ccoycIy in action with costs.
Massachusetts per ccnt-orcit of three fold Tie usury
RkodeIsand per cent-foreit of the money and interest
Of the debt
Con.ccticut, 6 per cent-forfeit of the whole dsbt
New-York 6 per cent-foricii of the whole debt
Nev.Jcrsev 6 per ccnt-orteit of the whole debt
PENNSYLVANIA per ccnt-torleit Of The whole debt
Delaware 6 per ccnt-forcit of the whole debt
MARYLAND per ccnt-on Tobacco contracts per cent.
Usurous contracts void
Virrin;a, per cent-toreit double the usury taken
Nonh-C aroliua per Contracts for usury void
South per ccnorleit of interest and rrcni-
um taken, with costs to debtor
Georgia per ccnt-iorcit of three times the usury and
Alabama. sper cent-forcit of and usury
Mississippi per ccntby contract as high rs lo-uSuF
Ionsano 5 per ccnt-back interest aforementioned as
high as lO-bcyond contract void