Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-08-16
SPEECH OF MIR. STUART,


ed in the House by the casting of the Speaker
(See Journal 1915, pages o. few days at
forwards this vote recOnsidered by a vote O
10Y to 54-most OF the Republicans voting for it,
(See Journal 1915, pages 6il-2) The bill wa
then Tccommitted 10 a select committee, who shortly
afterwards reported IL with amendments, reducing
the capital from fifty TO thirty millions Of dollars
and it was passed 10y vote of 1919 to 3l-most OF
the leading Republicans again voting for 1t. (SeC
Journal 1915, pages 652-3
This bill was sent to MIR Madison for his sigma
ture and on the SOEh Of January, 1916, he return
ed il with his objections, or, IN other words, he
rsiosd the bill. But, sir, did he rest his objections
on constitutional grounds Let hts message an
swer for him. In that memorable document Mr.
Madison used these strong expressions:
"waiving the question of the constitutional au-
thority Of tho Legislature TO establish incoTpo-
rated bank as being precuded, in my judgment, by
repeated recogntlons under varied circumstances oi
the validity OF such an institution, in acts OF the
Legislative Executive, and Judicial branches of the
Government, accompanied by indications in differ
cot modes of the concurrent will of tho nation, the
proposed bank does not appear TO be calculated to
answer the purposes OF revying the public credit,
Of providing national medium Of circulation, and
of aiding the Treasury by facilitating the lndSpen-
sable nnicpations OF the revenue, and by aOrdlng TO
the Public more durable loans.'
Here, Mr. Chairman, it will be seen that MIR Ma
Olson distinctly abandons his constitutional objec-
TONS and treating that question settled, he rests
his veto the defects in the provisions OF the bill.
itself.
When the bill was thus returned by Mr. Nllui-
son with his objections, an attempt was made TO
pass il through the Senate in opposition the veto
by vote of two thirds, but it failed-ayes l5 noes
10. o" this proposition MIR Giles, the republican
Senator of Virginia, voted ave. or, in other words,
for the passage Of the bill. (See Doc. Hist. Bank
u. S. 596)
This bill having failed, Mr. James Barbour, n dis.
tinguished republican Senator from Virginia, mme.
dately introduced another bill, conforming to the
views Of the President; but this bill not pres
sed, is believed, in consequence Of the that
treaty OF peace with Great Britain had been con-
cluded
On the 9Th OF December, 1918, Mr. Madison, in
his annual message TO Congress, called their attcn-
ton TO the subject OF n uniform currency, and mem
toned Bank Of the United States OF the
agents which would aid in furnishing it. This re-
commentator seconded by very able report
from Mr. Alexander Dallas then Secretary Of the
Treasury, in which he showed the indispensable nc
cGssi.y OF such institution The recommended
tons were promptly RESPONDED to by Congress-
That part OF the Presidents message which refer.
red 10 the currency WAS referred on the following
day 18th Deccmberl to a special committee, consist
ing Of MIR Calhoun, Of South Carolina, MIR Macon,
OF North Carolina, MIR Peasants OF Virginia, MIR
Hopkinson, oil Pennsylvania, MIR Robertson, OF Lou
isiana, Nr II. ST. G.. Tucker, OF Virginia and MIR
Pickering, OF Massachusetts. lSec Journal lSl6,
p. 26.O
On the sh OF January, 1916, Mr. Calhoun re-
ported the bill 10 establish a Bank Of the United
States. (See journal 1916, p. 1861 Alter a very
protracted debate the question was al length taken
on tie passage Of the bill IN the House Of Reprosen-
taives, when passed by vote Of so TO II. (Sec
Journal 1916 Is. 4SJ and 1907 In the Senate this
bill passed by vote ot % ayes to IL noes; and /!
received the sanction of President Madison.
Here, Mr.. Chairman, let US pause 10 an1Yze /
these votes, that wo may see how far the charge |
that this bank was Federal measure, carried by
Federal votes, is sustained by the record. The
ayes and noes are now before me, and have pre-
pared careful analysis Of them, which exhibits the
following result In the Senate, Of the tt5eTfy-
who voted for the bank, ScuSnis,n were Republicans
and FIVE were FederalIsts; and Of the twelve who
voted against il, seven Fedcras!s and fire were
Republicans. In the House OF Representatives, o.
the eighty members who voted for the bill, SIXTY |
SEVEN were Republicans and THIRTEEN were Fe.
deralists; whilst, Of the seventy one who voted
against the bank, THIRTY were Republicans and
FORTY ONE were Fedealists. AnG yet gentlemen
tell US this was a FEDERAL MEASURE! 4 Federal
measure, though two thirds Of the Fedeta.sts vo.yd
against II, and two-ihrds OF the Republicans IN
both Houses voted for II!
But the gentleman from North Carolina (Mr
Saunders) tells the House that the constitutional
question not raised in 1916. The Federalisls
were estopped from raising II; and, rs the Repub-
licans intended for it, of course they would
not raise it, | must confess this a move. doctrine
to me. The constitutional question not raised
How was il possible to AVOID ~ Does not the
constitutional power-or, in other words, the juris
dictOn Of Congress over the suJject-matler under
consideration arise in every conceivable easel
Does il lie al the threshold OF every question:
Ii you have no constitutional power over q subject,
you cannot act upon II at Gl and, II you do act
upon il, the conclusion that, in your opinion, you
have the power TO act, necessary Consequence Of
your action. Away, then with the notion that the
constitutional power was not drawn m question in
1916! IL was questioned, It was debated, and il
was decided
But sir, il may not be unnteresting or improbable
10 let the country know who some OF these Federal
ISIS who conspired TO usten this horrible mon
ster OF bank Of the United States the country
Tho, 9aTr4 al. Lee" E-.Ia
them Mr John c. Calhoun, the distinguished SEN
ator from South Carolina; next, we find Mr. Alfred
Cuthburt, now Senator from GGorgai and next, !
MIR Forsyth, Of Georgia, late Secretary Of Stale.
Then follow IN rapid succession Mr. lngham, the for
mer Secrciary OF the Treasury under Gen Jack.on's
administration; John G.. Jackson, the predecessor
Of my colleague from the CarksOurs district, (Mr
Hays0 Mr. Kerr, the pTedeCg' sOr Of my colleague
from the Halifax district (Mr Co.es;) Mr. WIN K.
King then a Representative from North Carolina
but Senator from Alabama; Mr. Lowndrs Of /
South Carolina; MIR Lumpkln, OF Georgia; Gen. /
William Mccoy, the predecessor Of my colleague /
from the Rockingham district; (Mr Hartley MIR !
Samuel Smith, Of Maryland, late distinguished
Democratic Senator from that State; and Judge Hem
~ ST. George Tucker, at present the able and re.
spectej President Of the Court OF Appeals Of VIr-
ginia, and the acknowledged head Of the Democrat
party N that State. These nre few examples
Mr. Chirman, Of the FsdsyaiiSiS who were ins;ru-
mental in inflictng this deep wound upon the Con-
s,itulIon OF their country!
Now, SIR, let us look on the other SIDE Of the DC
ture, aad see who were the staunch Democrats who
resisted this mons'r0us cncroachmGni the IiJar-
ties Of the People. Sir, DO not meln IN any thing
] may say, 10 be understood as casting any impu-
tl,iOn the motives Of the FedyTalis'g or as en-.
dorsIng any Of the vile caIumn.=s which have been
prOpaentcd against their character. Although /
dissent widely from any Of their opinions, believe
that the Federal party was Influenced, in the mlin
By as elevated ami patriotic impulses as any party
that ever existed. No. sir, Tor be if from my pur-
pose, at any time, 10 dCnOunCC party which num-
bercd amongst its members Washington, and Ad.
ans, and Hamilton, and Marshall, and host Of the
nOblcst spirits OF tho Revolution. merely advert
70 the party distinctions Of tho day 10 ICUuke the
raj measure, carried BY Federal votes Who, then,
opposition 10 the baUR FIRST, sir, will name
Gen. James Breckenridge Of Virginia, gentleman
conspicuous for his elevated character and sound
Judgment, but who was consistent FClerlIist 10
the day Of his death. Next order, will mention
Judge Castor, Of North Carolina; Joseph Lewis,
Of Virginia; Tino'by Pickering, Oi Ma55scbuselts;
and my 8m5nfod and distinguished persona friend,
she late Daniel Shelley, Of Virginia, who then re-
presented the district from which my colleague DO
font of me (Mr Hopkns) now comes, and who
always gloried IN being called q FedeTaIisf. Last,
but not cast among the opponents VI the Bank in
1916 was Daniel Webster, now Secretary OF Stale,
but then a Representative from New Uampshrg--
man who, if Mr. R'chsi is 10 be taken as author-
ty, BE- the very imper5onati0n Of every vile poI,c1.
hCresy which a spirit Of laWIess UsUrpa'ion ever
UfrF#4frN fTIue yUu Geo tyuY yvFrafN - rtr 10