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

uehyihg Tue general power OF Congress To create
National Bank within the States
But hasten, said MIR Ryes 10 come down TO a
more recent period Of political history when recog
nions OF The same doctrine thcken upon US, and from
quarters distinguished, claiming to be distinguished
ny peculiar Republican orthodoxy In 1914 when the
ehort 70 obtain re-establlshinent Of National Bank
was first formally renewed after Il unsuccessful
struggle Of 1911, the subject came before Congress
peuiion OF number Of the citizens of New York. IL
was referred to the Committee Of Ways and Means OF
the House Of Representatives Of which Mr.. Eppes
distinguished Republican Representative from Vlr-
| gina, was the chairman. As chairman of the
Committee, Mr.. Eppes reported against the constitu
tionaliiy OF the proposed Bank, and embodied the
grounds OF that report in the following resolution
which as setting forth distinctly the principle which
The objections of the Republican party of hatday to
the consliuonaily Of National Bank rested, de
serves particular notice. Resolved that the power
to create corporations within the territorial limits Of
NE States rthout their consent neither Of the
powers delegated by The Constitution Of the United
States, nor essentially necessary for carrying into If
iect any delegated power" Ii cannot fail to attract
attention, that the terms Of this resolution, by an OBJ
vious and necessary implications admitted the power TO
create such corporation as proposed 1ithin The Dis
| frict Of Columbia
! But this conclusion was not len 10 inference only.
The distinguished Senator from South Carolina, Mr..
Calhoun then dsting uished member Of the House
OF Representatives, moved a recommltment of the
port 10 the Committee which brought il in, with the
avowed purpose Of obtaining their report in favor of
which was accordingly afterwards made. As the homo
rable gentleman frequently 10 suspect this
side of the house, of a design to misreprcsent him.
will give his own words, taken from the records OF
the day
Mr. Calhoun then said, il would be found that
the Committee of Ways and Means had decided
against the proposition the ground Of unconsli
tutionality OF establishing such Bank that asked
for in the petition He wished to instruct the Com
mttce to inquire into the expectancy Of establishing
National Bank within The District Of Columbia
the power do which, il could not be doubted,
within the constitutional oirers Of Congress For all
practical purposes he believed such Bank would be
useful as that which was proposed. To come at
his object Mr.. Calhoun proposed the following mo
ton
be instructed TO inquire into the cxpedency of estab
fishing National Bank to be located in the District
of Columbia.
This occurred during the first session of the 18Th
Congress. AT the succeeding session OF tie same
Congress the subject resumed. Mr. Dallas, in
the time ha become Secretary OF the Treasury,
and in October 1914, had presented his plan OF fifty
million National Bank 10 he established al PhIladel-
pha. That plan being under consideration in the
House of Representatives and resolution having
been Offered declaring il To be expedIen TO establish
National Bank, with branches in the several States,
Governor Wright, of Maryland, then leading Re
publican member OF that body, moved TO amend the
solution by inserting therein the words ''pittin The
District Of Columbia" What, said VIM. A. Bur
well, of Virginia, on that occasion Who and what
he was, no one knows better than the honorable Scna
tor from South Carolina | will only say that through
the whole of his patriotic and distinguished life he
strict construconlst oithe most straltest sect and
an invarabe and Incorporating denier OF the gene
raj power of Congress to establish National Bank.
nd yet on the occasion here referred To- he did not
hesitate say that she had doubt OF the pocer OF
Congress TO establish Bank OF the kind proposed"
(even fifty million National Bank) in Inc District
of Columbia"
Having seen, said Mr. Rives, what the doc
Iines OF the old Republican school on this SUBJECT let
us, for a moment, inquire If the modern Democratic
party have not through its acknowledged interpreters
and organs, held precisely the same creed. General
Jackson, the Grand Llama OF the anti Bank party
seduious to assert in the most unqualified terms,
the constitutional power of Congress 10 establish
Banks in the District Of Columbia To any extent and
for any purpose. 1t is curious and remarkable coin
cldence that in the very act by which he put his veto
the bill for recharerng the late Bank of the Untcd
States, he took especial pains TO affirm and vin-
dlcate the unlimited authority OF Congress to create
Banks in this District In that bill was a provision
that other Bank should be established by Congress
during the continuance Of the Institution thereby re.
chartered except that Congress might renew exist
ing charters for Banks within the District Of Column
bia increasing The capital thereof and might also
establish any other Bank or Banks in The District,
irih capitals not erceedtng in the Uhoie sir millions ~
doiiars This restriction General jackson seized up
on and sgnazed in his veto message, as particularly
unconstitutional inasmuch as II sought to letter THE
constitutional power OF Congress TO establish Banks IN
the District of Columbia, and increase their capitol at
vii" "a power which he pronounced TO be "untmtted
and uncomfortable by any other authority than that
which gave existence to the Constitution.
Mr. Van Buren,, his anointed successor as Head
of the modern Democratic party, in like manner, une-
quivocay admitted the constitutional polrer 81 Con.
eress % establish a National Bank Geo nomne) with
in this District. There is his famous letter 10 MIR.
Sherrod Williams. Let gentlemen read II, and make
any thing else out of 1t, If they can In expressing
his opinions the question tthe constitutional POW
er OF Congress To establish National Bank, his ne
CATION of the power invariably made IN reference to
the States Adopting the language of his friend, Nh,
Butter he says he holds that Congress does not pos
sess the power to establish National Bank in any Of
the States qfhe Union" "He is therefore, decidedly (
opposed 10 the establishment OF National Bank il
aHV OF the States J" and then adds che is also uvpo
sed 10 the establishment of such Bank in the DIS
trict OF Columbia as unnecessary and tnerpedent =
implying that in the District, it would he constitution
al al least, No can fail TO perceive the marked
conradlsincon throughout, in his position To the
establishment OF National Bank in Inc States, and IN
The District placing his opposition TO the former on
the ground OF want OF constitutional power, and 10
the latter on consideration of expedency alone In
deed the very principle of the constitutional objection,
as stated by him, and which he Justly says the
main point Of Mr. JeIersons celebrated opinion against
the establishment Of the first National Bank, To wit
that the Constitution does not gfre Congress The por
en- 10 erect corporations chin the States of necessity
excludes the District of Columbia for all must admit
that Congress does possess the power of Incorporation
in tins District |.
The constitutional porer of Congress, then, TO in
corporate Bank in this District, for the convenience
and uses of the Government il deemed expelent is
power which has been recognised and admitted by
ali parties from the birth OF the Const tuition down To
the present day. 1t has been, in an especial manner
admitted and IN terms the most uncquivocal Ivy lead
inc and distinguished of the Republican and De
mocratc parties, who have been most signallscd for
the zeal and earnesness well as ability with which
they have denied the general power o Congress to es
tnbsh National Bank within the limits of the
Stntns nnr this sinn1lv and nnhrnktn cur cnt of