The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-07-29


ai ViFginih, IN 1911. hgsinss lhe TsaeWsl
II lie shsHsr ii Ihs 6rsl Bank Of Ihs Uni
ied States. That noble Old RsPGbliesh
commoaEssllh. Psnnss lssnis. uhich %
gsllsnIly Stood By ina aide Of Virginia IN
lhsl memorable Struggle. proclaimed bel
pnnciPles - lsngusgs sosIhy oi hsf own
character and II the cause. lsee hertwo
distinguished Senslsrs DOS near ne. and
they slll pardon me II ] read The N
ssfuesions she gave 10 her Senators N
1871. In which. with such becoming gra.
why. dignity and rlssrnrss. she put forth
the gIoands of her objections 10 the 70
ne~si Of The charter Of the 6rsl Bank Of
The United States. or The incorporation oi
any similar Bank. l wish those honora.
BE gentlemen could consider these insirue-
lions as sill s1bslsling. in spirit 81 least.
aud Ihen | might islIrilals myself with
confidence on rtcsiving their able support
on The present occasion. Win their per.
mission. | vail rfad me instructions:
. the lsegislsiaIs af Peansylsania.
ever desiraus 20 secure an administration 81
The Federal aud Stale Governments con
lormably 10 the true spirit Of laeifsespee.
live constitutions. ieel il their daly 10
express their sentiments upon sn impor
tan, subject now bffare Congress. 70 wiz
ihs eonsIauaaee oreslsLlishmentoia Bsnk.
From . careful review of the powers vest
ed in The Gsnersl Co ernment. they have
most positive consicIian that The su,hori.
~ TO grant charters OF incorporation with
in th- jurisdleuon Of any Stale. without
lhe consent IheTeo.. 10 noI recognised in
that instrument. either expressly. or BY
any wsrIsniasle implication:
Rss0ipsd. therefore. That the Senators
10 Ihls State. &C., &e be instructed 10
use every exerlion IN their power to pre-.
senI the charter ofIhe United States Bank
from being renewed, ur any Other Bank
from being chartered By Congress. de.
signed TO have operation within the juris.
dlcuon If any Safe. without frs, having
the consent of The Legislature
Of that Slsie."
The splun Of these instructions 10 faith,
fully embodied. said Mr.. RIses, IN The
amendment I have had the honor 10 sub
nit.
Blu, ais argued BY my friends on This
side Of The house, that the power Of es-
.sbllshlng branches Of the proposed Bank
within The Sis,ss, independently 81 their
consent, must be asserted. because the
consiiluiionslily ola National bank 10 nov
a senled qussiIon. That the eonsIiIu-
Iisnsli:y of a National Bank is q settled
question. in any practical poliIicsI sensr,
10 . proposition which. in my judgment,
cannot be satisfactorily mslntsineJ. A
retrospect Of our political history will
show that there have been. at least, 80
many decisions Of the people and their
representatives against IL. 80 there have
ever been in favor Of il, 1.-THE Cong,ess
Of 1871 decided for IL, The Congress ef
1911 decided sgainst H. II a Bank vas
re established 10 1916, il va. permitted
tn expire by It's own limitation in 1886.
wi,h she hearty arquiescencs Of large
m.jorily Of the psople. ., The time, inlis
fate. Thee or four years before tina,
lime, General Jackson mad negssissd .
bill Tor techsrler OF the Bank. express.
ly on The ground VI the unconstitutional.
~ Of sn InsIItu;i1n organized a. that was.
This he dad ~ The very crisis Of pend
ing Presidential election, IN which the
ptoprisiy OF his course On the subieci Of
Tie Bank was necessarily put in issue:
and We, he was reelected by an ovsI-
whtlming msjnrI,y Of the popular suifta
ges. When Mr.. Van Buren, became a
candidate 10 succeed hin, he declared. in
tie most unsquivoeal terms, his thorough
conviction OF The wan, OF constitutional
power in Congress to establish a Nation
al Bank in any Of the States OF The I'M.
On. aud IN very earnest and emphallc
manner Invoked the decision Of the peo-
pie on THAI issue in the election. And
yet. with declarations such ~ these, pre-
GLIDING the possibility Of q National Bank
Tor the ensuing iour years. il he we're
clrcled, he was chosen President OF The
Unied States.
In the result Of the late Presidential
election. the queslinn Of The constitution
Atty OF Bank cannot. with fairness, be
said 10 have been decided by the jude-
menI OF the nation. There were loo
many oIher prominent issues involved TO
jusniy that conclusion. The odiousness
OF the sub Treasury united IN oppesi,lon
to the Administration oi Mr.. Van Buren,
many persons sho differed widely on the
question Of a Nsiionsl Bank. The opi.
mons of the Distinguished and lamenled
individual who was the candidate f,r the
Presidency had been decidedly opposed
10 The cOnstIlutionaliiy OF National Bank.
In his sotes 70 The House Of Represents
uses. al lorfnet period. end 10 a Iettrr
addressed to his constituents in 1922,
which was extensively repnblished. he
had manifested and declared those opini
ons IN the strongest manner. In his iet
ter TO Mr. Saeuod Williams, in 1886, il
10 true. he sald he would not withhold his
sIgnstnre. u elected Presiden from bull,
with nronpr rnadi6e.iian~ - ...,...