The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-07-24
From the Yep York Tribune.
THE BANK QUESTION.

The following letter from Washington gives so clear
and just view of the position Of the Cabinet on the
Bank question: of the difficulties by which the subject
is surrounded and of the inconsiderateness,
strikes u.s. of tho attack which has been made up
on Messrs. Webster, Granger, and Ewing for not
throwing up their places and hurting all into chaos,
because President Tyler would not instantly recant,
at their bidding, the opinions which he has cherished
and openly avowed for the last quarter of century,
that place it entire before readers It appeared
originally in last evenings Commercial
The more we consider this matter, the more unwise
does the course appear which the Cabinet are censu
ed for not taking Suppose they had thrown up their
places-would that have vanquished President Tylers
objections to old fashioned Banka Obviously not,
but the contrary. Would ii have healed the difference
Of opinion elsewhere prevailing2 By no means-it
would have given it emphasis, and made it landmark
of division Would it have increased the probabilities
of obtaining an efficient Bank2 No! it would have
done nothing but mischief and that Of the most mo-
mentous kind. But to the letter.
aE WASHINGTON, July l6, ls4l.
MY DEAR SIR-I am quite willing to answer your
questions, and to give you my opinion fully on the
Bank subject Without replying to your inquiries in
their order, the object of the whole of them may be
met by some general remarks. ,.. ~
No man can entertain doubt that the late Admi-
nistration overthrown, chiefly by feeling Of OPP
position to its policy in regard to Finance and Cur
reney. Other co-operaed but this must be ad
mitted to have been by far the general and the
most powerful. It is quite clear, therefore, that
thorough change of this policy is demanded by the
People of the present Government and if this end be
not attained the greatest purpose of the revolution will
be defeated. All this is obvious enough. -y r..
1t is true, ALSO that among those who sought, by
change Of counses, TO effect sautary change IN re-
gard to finance and currency, great majority enter
tanned the opinion that the agency of Bank in
dispensabe. But this sentiment was not unanimous.
Many of the Southern opposers of the policy of Gen.
| Jackson and Mr.. Van Buren, were not Bank men.
Your memory will Immediately supply you with
long list of persons of this class in that quarter of the
country; and though sentiment more united in
the North, yet even there exceptions existed. The
distinguished Senator from your State had,
after coming to the Senate, maintained the un-
constuonaity of all Bank charters under this Govern
ment The failure of the Deposite system, in 1887,
probably increased the number of the friends ola Bank
but still there remained many persons who if con-
WINGED Of the expedency, did not, nevertheless, ad
NIT the constitutional power to establish such insti-
tuition. .t"
Under these circumstances, the Wing Convention
| met at Harrisburg in Dec. 1882 and nominated Gen.
Harrison and Mr. Tyler candidates for President and
V. President The opinions of these gentlemen were
generally known on all political subjects, and those Of
the latter gentleman especially, the Bank question,
were we'll known the sentiments of any public
man on any subject whatever. From 1919, to the
day of nomination. those sentiments had been express
ed and repeated in all FORMS both in and out of Con-
gress. The Convention nominated both these gentle
men without asking or receiving pledges, and solely
|
and on this ground the canvass commenced and
carried In the course Of it opinions were fire..
queny called for and expressed especially by General
| Harrison.
Now, without going into particulars fair account
of General Harrisons opinions is, that with strong
Ieanings against Bank Of the United States yet, If
should be found be necessary in order to CARY on
our Government successfully, he would sanction it,
And for the he would to give to
the Bank such powers, and no Others as should be
fob tohI
neral doctrine of his speech at Dayton and is in con-
sonance with opinions expressed BY him on other oc-
casons. He will there be seen to have placed this
constitutional power of Congress to establish Bank
upon that clause of the Constitution which authorizes
it to pass all laws necessary and proper for carrying
the powers of Government into effect. This Gen
Harrison's ground and this ground fought the
battle for him. We elected him: we saw him inau-
| gurated-we saw him surround himself with Cabi-
net and enter upon his high dutes-but death termi-
mated his at the end the first month of his add
minstraton. The Executive power devolved on the
Vice President. He repaired to Washington, found
an Extra Session Of Congress already summoned and
requested the continued services Of those Heads of
Departments who had been appointed by General
Harrison.
Now, ohat ,oas IL the duty Of these gentlemen to do?
do not propose to answer this question, for several
| reasons But / leave it for your own reflection and
/ repeat it--,ohat ,oere they to do? On the Bank
quesonthat is, on the extent of the Constitutional
power of Congress-they differed from the President,
and it may readily be supposed that where there
mutual respect and confidence, all practicable
| of approximation and agreement were honestly and
candidly exerted Nor can 1t be at all doubted that
the President, from difference to the sentiments of
the people who had elected Gen. Harrison, would as
far possible forbear from disturbing any thing set
tied by him. and that he would also, TO the extent Of
his power, and SO far his conscientious sense Of
duty to himself would allow, do every thing to fulfil
those public hopes which his election had inspired
But he too had been elected TO the second Office by
the People, with well-known opinions on this great
Constitutional matter, any modification of which must
be left to his own reflections and his conscience
The power of approving Disappearing Acts of Con-
gress is power belonging to the President alone
He may advise with his Cabinet, but the entire re-
sponsibility of the final decision rests with him.
But the position Of the President in regard to the
Bank question not the only difficulty. Important
Wing Members, in both branches of the Legislature
stood in the relation to this question the Pre-
sldent. need not name particular gentlemen; but
there was good reason TO believe from the FIRST that
Bank charter, without some essential alterations
from the old forms, would not even get through
| Congress-