The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-08-26

rSA*<sh nsllenri baAk with br3neiass gn
The tefessl ss.les." Title resolution . -
sdsPsea bg he llnuse-syes %. mes 81:
ssatsfipg bern rrfegrd - she commiaee
&C ABssBd Mesns. that fommiuee. ON
ihe. III Nosember. reported . bill 10
lsssfE,r.lss Bsnk 81 ihe Unllsd Sialrs.
La erp,equsrce. hswrvss, 81 Differences
al apsasoa fespfrliag the dsisils. and Tor
ihasfsesan alune. lle bill Was Iejecied on
The z5sh November. 1914.
ueseser, cir. on ihe Cd Of he follow.
ing s,saih Of nrrsmbsr. similar bill
wss reported IN die Senate. Sash Gas
ihe bs-i.ei Of ne rseesssiy sf bsnk az
sonss sort. thai i passed iha, body on Ihe
Ssh Al che same month. Ia lis progress
iiuongh 'hs Ilause Of Representatives.
ihslt n also proved 10 Be anaeerpi.ble
20 The m-joIiIy. and il Ma. rejected. ON
ne hed pssssg-. by The casing vote u
tie SPsaker. (Mr. cheses. 81 Saulh
Csfeiinr. A mdlion 10 reconsider was
made and eatiird. one hundred and seres
vsifng NJ the affirmative. and hl,y.iour IN
Ilis hhgalIye. y he bill Was lien recon
. miiIfd. and on i,s return 10 lhe lloure ia
an snehded larin. Il pssse,l--uol unsnI
inously, SIR. bul--by so,e Of me hu.,drei
and evenly l0ihiiiy -sesehi Tie amend
mrnts 81 HE llnuse were eoReuIrsd IN by
The sensIe. and the bill passed both
HOUSES. President Madison withheld his
appreciation. and reiurLsd il 10 Tie Sen
ate siIli his nhjscm.ns. The,e ohiee-
ilans. u is well known. did not srse from
any stIuples respecting lie conformity Ia
the CONSTITUTION; on tie lhe contrary. slr.
he said. :. WsirIug The qnesllun of The
Cpnsii,uiional su,hurl,y Of The lsglslsivrs
10 establish an incorporated bank. as be.
ing pRclnded. 10 my judgment. by re
Peaied rerrgnnions. under varied circum.
stances. Of the validity Of such an inslilu-
!, ton. IN acts Of the legislative. executive.
and judicial brsnrhes oI the Government,
accompanied BY indications in different
modes Of concurrence Of the general
!! will Of ille nation. The propose0~hal /
does not Bppear 10 be calculated To ans.
WEI the purposes Of IevIsing the public
ciedn, Of providing a national medium
oi CIRCULATION. aud ol aiding The Treasury
by facilitating tie indl. pensable sn,lcipa
,luns pf The revenue, aud by sfurting 10
the public more durable loans"
The VETO &c the presiden, lid no, pre-.
zen, fDsther efor,. Ia incorporate bank.
,,0i the 9th February. Mr., Barbour, u
Virginia, with the leave Of tie Senate,
inlrudurej another bill. II passed thai
body. but lis progress through The Ilouse
was interrupted aud suspended by great
and unexpected e, en,--,he treaty ol peace
with Great Bliiain. The struggling en-
ergies Of the friends OF the Governneni
relaxed On the reception Of ihesInIeI
hgence. Nj. Lowndes moved. in ,he
Hou.e. the inde6pi,e poslponrnent 'ol
the bill frum the Senan.---s not he SAID
"lrnn any hosulny 10 national bank. =
but because. lin lie fragment Of the SEES
sion that then renamed" Congress
could not establish bank half 30 eligible
or half so durable as they could al n lu-
ture session." Mr.. Forsyth. Of Georgia.
msde an effort To commit the bill, but The
House, evidently with great reluciance.
sustained The motion to postpone by The
close vote uf a 10 20.
6. The next precetlen, ocsurred in 1916.
Upon the recommendation Of Mr.. Ma
dlson aud his Secretary uf the Treasury,
(Mr. Dsllss.) the chsrler Of the second
b ,nk of the Unred States was passed.
The bill originated IN the House Of Rep
resenistives under the fostering care Of
the honorable Senator IRON South Caro-.
Ina. Mr.. Calhoun. and having passed
bath Huuses by decisive majori'ies. tire
ceised the sanction of President Madison
on the 10Th April 1916.
Z. The bill &c 1882 was presented tn
the Senate by Distinguished Senator
from Massachusetts, MIR. Webster. LIS
object was TO continue in farce The charter
Of the bank for twenty years. On its Il
nal passage through The body. The vo'e
s,oati--yess %. nays 90. llnpa>sed the
i1uuSC WI hcIttSGHAdhsES W ~ WIZ ~
l07 to IS. On the 10Th July, 1882. Pie
sidenl jackson returned II with his OBJ
jerlions Ia the Senate.
Such are The pr, cedents which your lie
gislsuon presents, bearing upon the qnes
lion Of the constitutional power oi Com
gress 10 incorporate Bans Of The United
Sta'es; and it is Ia view Of such rel Grated
affirnat,uns Of tie power the honorable
Senator iran Pennsylvania has declared
that. regarding d" the repeated st'emrts
to establish bank which haze faiie,i.
Congress have much oiuner decided
against The lower than in its favor l
may now, sir. venture The assertions that.
since the commencement Of the Govern.
ment. the legislative department has ne
yer d,sclaImed the power. may ven-
tnrs the assertion that no single pnwer,
derlysbls fram the Constitution, az The
existence Of which well founded doubts
have been nj any Time entertained has