The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-10
THE FISCAL BANK QUESTION.

THINGS cHARiTY.-AuguStin.
THE FISCAL BANK QUESTION.
We publish, to day the ingenious and eloquent
speech Of the distinguished Senator from Virginia.
None has had the honor to receive from some warm
a commentator, or the misfortune to be by others SO
sharply censured.
Mr.. Riyes motion was not novel one, was II
unexpected. IL there any cause o. surprise TO
any body il was in its strength But plan Of Els.
cal agent, such had been indicated in the Execu-
tive Documents would meet the appreciation Of the
Administrations had been formally called oI, and
formally devised and communicated 10 the Senate
The committee 10 whom il referred rejected
of the fundamental features Of the plan, and subst
ued and reported another. The plan Of the Trea
sury Department was framed TO obvate constitutional
objections; the plan substituted framed in
dance with the views Of those who had no constu
onal scruples the subject. II was not to be sup
posed that the plan of the Executive was prepared
without reflection. On the contrary, il to be
presumed that il had been considered fully deeply and
under sense of high responsibility So with the
substitute of the committee The principle of the
Treasury plan il was understood the appreciation
of the President The substitute of the Senate com
mlttee, while agreed with the original in many lead
ing features, yet assumed variant fundamental prn-
cipe. Whether the latter could be sanctioned by the
Executive was, therefore, at least questionable. 1t
was, besides, distinctly inlmated by several that Sc
majors could not shut their eyes to the fact, that bill
framed upon principle, the opposite of that approved
10y the Executive, could never become law at least
during the present Congress
Under these circumstances and with view of re-
concillng opinion and Of securing the establishment
of Fiscal Agency of some sort, that should answer
the purposes Of the Treasury and meet the wants of
the people, Mr.. Rves came forward with a PROPOSE
ton to amend the Bill of the committee, simply. by
making il fundamental rule that no branch OF the
Federal Corporation should be established within the
jurisdiction ofthc States, without their assent He
bodied his amendment in almost the precise language
of the Secretary of the Treasury. He was, doubt
less happy to be able thus to modify the scheme,
10 make il acceptable to the Executive to it
the sanction of bis wnFconscicnce and Ito present
if it should be permitted by the friends of the ADM
nstra,ion in Congress he thought the pros
pect of success So far, therefore, from, being fac
tous even Impracticahle, Mr.. Rives took course
dictated by patriotic and concatory spirit His
whole speech was fraught with elevated sentiments
and bore internal evidence of the purity of his motives
and the honesty and iirmness of his convictions.
The speech is before the country. The amend
ment has been fairly rejected large majority of the
Wing party in the Senate have deliberately examined
the question and the bill ofthe Committee is preferred
All the friends of the Administration have so far dis
charged their duty according to their honest judgments
Weare of the opinion that the bill as perfected by
friends in the Senate will have its course Lett be
considered and discussed in both branches of Con
gressn that spirit of freedom and Independence which
belongs 10 representatives of the people. Let Con-
gess discharge its duty unbiased and unembarrassed by
the authority of any other department of the Govern
ment. Thatt will pass bill we do not doubt. And we
adopt the sound and patriotic language of the dstn
grished Senator from Kentucky, and say, our true
course is TO the measure according to all the
lights of our understanding and to the deliberate die
taes Of our best judgments and transmit it perfect
as in conscences, make il, to the Co ord
nate branch of the Government Upon receiving it
his duties his responsibility, his rights will accrue
and, among them, the most precious is, that of exam
ming the measure with all the freedom and indepen-
dence which belong to his high station
Let us hope for concurrence between the two de-
parmenls of Government; but, if there should no,
be- their disagreement will not be the greatest of pub
lie calamtesa greater would he voluntary surren-
der or sacrifice Of the conscientious judgment and
constitutional independence. of the to the other
Ii, after both have acted there should be any deve-
lopment Of difference Of opinion between them,
the exact point of difference will be seen and then,
in spirit Of mutual berality and concession some
measure may possibly be devised which will obviate
all difficulties"