Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-09
:. -%Ty.SryENrH coNGREss---,st sess.
Thursdag, Ln!y J, loli.
~ zen ATE.

lae Senate Psa.;ssrs "a the Fiscal Bank OF the
corporate the SUBSTITUTES
,.ed S,a,es .:. q amend The bill
Mr. RlyES submitted motion 70 a".enu na IN
,,,tiog out the 10th Fundamental ar'c'e' a"e -.
.ns a new article providing 'has IN, 80 oano.aI
~,s "a dsnosi,e NAV be established IN the seVera
=" A L iho assent OF the Legislatures, or, III de-
-. ,ch assent. that the Bank may employ such
i-.V. RINK As may be sanctioned by the Secretary
ne Treasury. ~ c a.. Hi 40 70
-, prncipal point Of difference from the o'il as re-
J was IN requiring the assent OF the states 10 'ne
1,.,;on of All Offices of discount and depos'te
80 s.,,. Ranks he regarded as the legitimate Repuol.
-, s,s,, n The absence of a Bank. But he found
49, H. b,s c,y rite suceedaneam for Bank was OPP
20. IN both sides of the Senate Even the Senator
IS G who had been the Commodore OF tins little
A had deserted his post, ana become 'ne "
/ I,dep.ndent Treasury lie regarded tnat senator
.,ecu,y.ng very eqnivoca position
" al HOLM explained that he had never had
s4ncs IN The virtue of the State Banks, but only
.,s =, ,hsr weakness as disabling them from doing
/ II; EIvEs congratulated himself on having disco,
, 49, I'm. nos,tiou of the Senator The horrors OF
:, pbI,delpha Bank Of the u. S. he rega ded as the
.. II the suspension of specie payments which had
@ Mace within the last three years. He expressed
tsut desire TO see some system which wouia prove
.bes, 10 the people against mere politicians, which
9oId 10, be blown down by breath lie beieved the
.a- 4; peace TO be in the ascendant here
1 VI Ryes congratulated the country on inc IAN
p,,s ol The report of the Secretary OF the treasury
wrn As on the general features of his plan-partcu-
Iy ina, which located the Bank in the District oil
lnmb, and that which required the assent OF the
l,s before branch can be established IN any State
-,s,s we're those who believed that Congress had
i n,xe, "a establish Banks within the District of CO.
mia, ONLY for local purposes But he regarded
+. l;action as too weak to be sustained He then
viewed the course which had been taken by d'st'n'
,hst men as to the power Of the Government to es-
: - Skota- Ill
1:3Dsa branches of Bank within the states, Win
T. n; their consent -
81 Il. Rives then reviewed the course taken by MIR.
y r HIM, m which he favored the establishment OF
ak n n. District Of Columbia, and quoted the reso-
nnn offered BY Mr.. Calhoun expressive OF the opinion
Congress of the expediency of such bank The
!, ii ,,la;ina the Bank within the District without
,nsbes was the cause of the unpopuarty OF the pro-
,nn \, tina, time The consttutionality of the plan
en,,,ed BIZ all the leaders Of the State Rights or
set cons,ructionist party
Yr R,yes then quoted the opinion Of General jack
,,aths Bank Veto Message in which the Grand La.
r, the anti Bank party asserted the uncontrolled
sld uncomfortable power Of Congress TO establish
Bank m The District MIR. Van Buren, also admitted
!, p3xer The present Administration therefore had
=, amended plan which could not he assailed on
n,.u,onal grounds. He then appealed to his Wing
Nasai 10 coEced. 10 their brethren on this point,
h. not for party objects TO set foot within the DIS
led territory but 10 place the institution on national
&.rnds
H. ih-n proceeded to discuss the constitutional pow
y. q CONGRESS IN reference to the establishment oil
= aachss within the States. The power OF locating
.aa vi n the District of Columbia, was lnd'spu'a-
II IL Congress uadcr the clause giving it exclusive
:!ction within ts limits, and SO the States had tne
aSe,, iadepr ndent, to admit branches OF any ins
1t,on-agen branch Of the Bank of Engiand-to be
.,ablsaed within their limits. He then referred to
b. causes IN the Constitution authorizing cempac,s
a.grn ,he Government and the States ceding Jur's.
.,n on the part Of the latter He referred to the re-
SION of the consent of the States to procure the
Il a7encemcnt Of the Cumberland Road In reier-
ne % The surplus the same authority was re-
ID before anv portion of that surplus could be de-
-irt FOR their benefit
" Ryes recied the opinion OF Mr. Jeftersoh, sus-
~, the course of his argument, in which that aus
'.Iisaed man advocated the admission OF branches
m ihc States with the assent OF tneir LEGISLATURES
opposition 10 Bank of the United States had
- always based on the want Of power IN Congress
establish such an institution within the States WIN
l4lr assent This objection was removed by inc
loa OF the Bank within the District Of Columbia
.hsn read extracts from speech of Mr.. Buchanan,
Burning the very ground on which the Secretary OF
T. Treasury had based his plan. He adyerted TO the
,l;al ground on the Northern Boundary line, on
Ca neither party were enter, and, on the absti-
ice Of their course in this respect, depended the
salance of peace. IT, ,
J Be hoped gentlemen would consider this to be the
10 10 enter but that they should conhne them
g, 10 the ground which ndlsputable. Gene
harrison had, in 1922 given his opinion against the
s,,se of this power without the assent of the
H&-s. and this opinion was IN no degree shaken by
litter to Mr.. Sherrod Williams. lie then looked at
H.slectnn of Mr.. Tyler a proof that the people
.1seves were not disposed to look with an unriend-
on one who was an advocate of this doctrine
II y. an equal chance according TO the calculation OF
hills Of mortality, whether the late President
& have lived or died He going on TO remark
he probable course Of the President, when
VI CLAY called the gentleman to order, as INTRO
7 n. the opinions of the President on pending sub
discussion He maintained that no man was
.'"led 10 speak for the President.
w RiVES made some reply in which he assert
'aa' he vas not reviewing the question in the as
n which It was viewed by the Senator from Ken
he Char, mir. White of Indiana) did not regard
senate: i,ou Virginia as having transgressed The
~ order, he had made assertion IN reference
We resent opinions of the President.
H. hves resumed, disclamng any desire to speak
@e present opinions of the President. lie then
: p ths efforts which had been mode to show that
fsefson and Mr.. Madison considered the powers
20 He then referred to facts to show that Mr.
%s'n had in 1913 spoken of the decision against
t. yser as definitely settling the question. The
T. "a'i the constitutional power Of Congress had
e. settled, and not likely to be settled There
more decisions against II. Inc power VI 'he
s. -, ~ establish banks was regarded by some as an
w question. He thought otherwise and looked
as settled enc. But he could not view this
I9n as settled
81 opn'ons of the nation, Mr.. Rivcs thought, were
a equally divided upon the question, but it must
W considered as unsettled Where it could be
& III therefore, he in hopes that attempt
~ ave been made to approach this disputed
, lie denounced abstract assertions Of power
, as dangerous, and instanced our revolutionary
yea having commenced in consequence of such
.'c, assertion of power on the part of Great Bril-
y feet of which had been SO eloquen,ly depict
n. N~'''on of power in the present case, he con-
!, pregnant with danger 10 the fate of the mea-
."dng It az the best evidence of the excellence
, "oent, that il was able to perform its functions
3ts+ny perceptble resort to power. He had so
,. us amendment that if the States refused to ad
mes, they could not refuse TO admit agencies |
!. H., I0ang the judicial decisions by which that
II ,,.ns sd been lncontestibly settled He recalled
IA teton OF MIR. Clay to the declaration made by
from the chair Of the Senate in corrobora-