Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-24
FISCAL AGENT.

A striking difference in the views and
wishes of those who desire some sort of
national institution to facilitate the opera
tons of the United States Treasury, and
to promote sound currency, consists in
this !: The Wall street and Chestnut street
people, and citizens of other Atlantic cit
les, believing in the power of Congress
to charter National Bank, want an insti-
tuition which shall be a commercial agent
Those, on the contrary, who agree with the
aforementioned in some particulars, but
who doubt the constitutonality of Ma
tional Bank, want only a fiscal agent, such
as is necessary and proper for the inter-
ests of the national Treasury.
Among the latter are those who believe
that it is neither right nor cxpedient for
Congress to establish an institution solely
for the benefit of commerce. They think
that such an institution is partial in its op-
eratons, and that if commerce is thus par
ticularly provided for, then agriculture, the
arts, DC, are also deserving particular leg
islatiye benefits. The other class, on the
contrary, insist that an institution for the
mutual benefit of commerce and the Gov
eminent, is conducive to the general well
fare of the whole people of every class.
The fundamental present difference be-
tween some of the friends of the Admin
istration on the projects before Congress,
consists merely in their views of the mode
of establishing branches. Some insist that
the assent of the States should be re-
quired--others, that the institution shall
establish branches where it pleases. This
difference is insufficient to produce those
divisions which the Locofocos seem to an
tcipate with so much delight
Suppose there should be inserted in the
bill before the Senate the following fun
damcntal rule Of Mr.. Ewing's project, viz:
.'l6th That the said corporation shall establish
a CO mpetent office Of discount and deposte in any
STATE, by the assent of the Legislature Of such
State, whenever the directors may think fit so to
do; and when established, the Office shall moi be
wthdra wn without the assent Of Congress and
the said corporation shall have power to commit
the mana cement of the said offices and the business
thereof, respectively, to such persons, and under
such regulations, as they shall deem proper, not
being contrary TO law or the constitution of the
bank; or, instead of establishing such Offices it shall
be lawful for the directors of the said corporation
from time to iime, TO employ any individual, agent
or any other hank or banks, to be approved BY the
Secretary of the Treasury, at any place or places
that they may deem safe and proper, TO manage
and transact the business proposed as aforesaid
other than for the purposes of discount, and TO per-
form the duties hereinafter required Of SAID cor
poraton to BIZ managed and transacted by such
officers, under such agreements, and subject to
such regulations they shall deem Just and prop
er."
Would this be regarded by the friends of
the Senate Bill as a surrender of the prin-
ciple which they hold, that Congress has
full power to spread the branches of the
bank any where over the States, with and
without their assent! 1t would surrender
nothing. Permitting principle to lie dor
mant is surely no denial or surrender of it.
But in addition to the insertion of the
above clause, suppose the following, from
Mr.. Ewing's plan, should be added, viz:
"Sec, 90. And be il further enacted, That Con-
gress reserves the right TO limit or extend the time
for which the said corporation may discount notes
or bills Of exchange; and TO pass all laws which
may be necessary to carry into effect the provisions
Of this act, according to the true intent and
ing thereof; and il shall not be deemed any in
frngement of the privileges conferred BY this act,
for Congress- to direct the placing of Offices of
discount and deposire in any such places may be
necessary and proper for the collection, Safekeep
ing, and disbursement Of the public revenue"
Would not such a compromise of the |
views of gentlemen scatter the hopes of
Locofocosm to the winds! At the bare
suggestion of it, mcthinks we see them put