Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-14
Incorporation of th. Bank, ought 10 prevent renewal

He maintained that ain free country there is
thing important than frequent recurrence 10
those fundamental principles which unite in one COM
mon bond, those who grant power and those whnexcr
else it," In alluding TO Gen. Washington, Mr. Eppss
suid:
"He commenced his career as President on the Both
of August 17e9 In 1901 the charter OF the Bank
granted. ON this great the two great parties
were for The first time arrayed against each other 1t
was at that time considered party question, mas
much as il involved the very principles on which the
parties vded viz: "deegated powers and "consruc-
live" powers Unfortunately for his country, General
Washington on this occasion took sides with the fe-
deraists The creation of moneyed interest, connect
ed with the Government, was favorite measure of
those who were willing to engraft energy on Inc Con,
stution. &c" In conclusion he said 81 rejoice That
the period has arrived, when this privileged Class must
surrender its charter when the moneyed capiai OIL
our country shall longer be welded as an engine y
partu when the Republican party shall have mn oppor
tuniiy of testing the truth of the principles Tor when
they contended in the year $780, and OF giving on le
present. the former OCCASION their support 10 the
principle: "That power not delegated Is reserved 10
the States or TO the people.
In the discussion which preceded the establishment
of the last National Bank, Mr. Randolph said:
GAS TO establishing this Bank to prevent variation
in the rate of exchange of bank paper you might as wei
expect it to prevent the variations OF the wnd; you
might as we'll pass act Of Congress TO prevent the
Northwest wind from blowing in teeth as we go
from the House TO our lodg ings. lie
argued that eernaly true that nothing but the
precious metals, paper bottomed on them, could an
the currency of any nation or any age, not
withs standing the fancul theories that great payments
could only be- made by credits and paper. The
present mode of banking goes TO demoraze society; II
was as much swndiing to issue notes, with the In
tent not 10 pay, as it was burglary to break open
house. If they unable to pay, the banks were
bankrups; if able to pay and would not, they
fraudulent bnnkrupts. Whilst
Government denounces hierarchy; will permit
no privileged order for conducting the service of the
only true God; whilst it denounces nobility, &c
has privileged order of new men grown mp, the
pressure of whose foot he, at this moment felt on his
neck The proposal to establish this
great Bank, he described a cruch and as far as he
understood it, it was broken one: 1t would tend, IN
stead of remedyng the evil, TO aggravate it. The evil
of the times spirit engendered IN tins RepubEc
fatal republican principles-fata TO republican vIr
tue spirit to live by any means bm honest Industry
spirit of prouson; in other words, the spirit OF Ca-
line himself-aicni driduS protnsuS-a spirit OF er
pedirney not only public but private life; the system
of Diddler in the farce, living any way and wel-ioedr
ing an erpensire roat and drinking the finest wines, at
ann Jodys expense This bank, he imagined, was, 10
certain extent modification Of the system. Con-
nec,ed as it TO be, with the Government, when
ever il went into operation, would be exhibited
on the great theatre of the u s. al the contemplation
Of which lie shuddered. u mean TO transmit our
institutions unimpaircd 10 posttry: u some ncn hring,
,csh 10 continue 10 lire nnder the same Institutions by
,chich Mey are rulcd, must put bounds 10 the
spirit nhch seeks eaiM by erery path INT The plain and
regular path Of honest industry and honest fame.
But the opposition of Mr.. Randolph, and other dis
nguished men, unavailing; the bill passed and
MIR. Madison unfortunately signed it. At subsequent
period Mr. Randolph said:
81 cannot but deplore-and TO my dying day shall
depore-my heart aches when think of it-that the
hand which created that monument of political wisdom
(Madisons Report) should have signed the act 10 in
corporate the Bank of the United States. al The diff
cucs under uhch hare iabosred, and ldbour,
hare groacn out Of thai fatai admission.
Manning Besides these distinguished authorities
against National Bank you know that in c22,
General Harrison said-eI believe the charter given
to the Bank Of the United States was unconslu.
ona-it being not of those measures necessary to
carry into effect any of the expressly granted powers
But what did he say to Sherrod Williams in 1876 lie
told him. that if elected President, he would sign
Bank BILL if it clearly ascertaned that the pub
lie interest," in relation to the collection and dsburse
ment Of the revenue would materially suffer without
one and there were unequivocal manifestations Of
public opinion in its favour" Turn 10 the National
lntegcnccr of August 1910, and you will find
speech of General Harrisons, in which the follow
remarks
"The Constitution of the u. S. makes il the duty Of
the Government to provide ways and means for the
collection and disbursement of the public revenue If
the people deem it necessary to the proper discharge
Of the functions Of their Government TO create Ma.
the last man, elected President, to set up my authority
against that ofthese millions of American freemen
In the speech, he alluded 10 his conduct while
Governor Of Indiana, and boastngly declared ~ ne
rer retoed bill in my life" In 1922, he denied the
constitutional power to create Bank, but in $780, the
General thinks of constitutional objections, and
fatty tells us he will not setup his "auhoriy against
the wishes of the dear "peopie."
il is idle, therefore, for any of the Wings 10 suppose
that Gen. Harrison his leading friends opposed
to National Bank. For my part, believe the Wings
Of Virginia voted for HARRISON not from choice but for
other purpose than TO expe Van Buren, and if they
are attached to the political principles which they pro-
ess, think they will not long support the admnisra
ton Of Gen. Harrison
Mr.. Webster is in favor Of laying Tariff on French
wines and silks. France buys cotton and tobacco of
u.s. and If wish sell those articles on reasonable
terms it is but just that should buy wines and silks
Of our customer. Mr. Clay in favor of distributing
among the States the money arising from sales Of the
Public Lands While the Wing party charging the
Federal Government to be bankrupt, he is willing 10
deprive the Government OF its second best source of
revenue! But let us return to the bank question.
Although construe the Constitution rtry literally
in order to find power to establish National Bank
incline to the opinion that the Southern and savehod.
ing States will not be safc if they support latitude
Interpretation of the Constitution, in reference 10
other subjects Mr.. Madison said, sthe doctrine of
implication is always tender one.
BY implication the Abolitionsls claim the power Ia
abolish slavery in the District Of Columbia, for the
power is not expressly delegated by the Constitution
By implication, the Abolitionists claim the authority
for the Federal Government TO prohibit the slave trade
between the several States under the power to regulate
commerce between the States.
BY implication, Gen. Harrison claims The power TO
appropriate tho surplus revenue TO einancipae the
slaves with the consent Of the States holding them.
The power TO do this is not expressed in the Consu
ton, and the consent Of the slave States unless given
by constitutional amendment could no, confer this pow
er on Congress.
Protective Tariffs roads and canals on the part of the
Federal Government often the offspring of i'm
pcation. Neither Of them are mentioned expressly in
the Constitution.
-Mason.-lf you favor the doctrine OF implication in
order to justify the establishment of n National Bank
with what consistency and proprety yon resist the
doctrine ofimped powers when urge by the Abolition
lists and others
.MDnning-My dear sir, consistency isa jewel which
have often admired, but never possessed
While think Congress has the constitutional au-
thor,y to establish Bank, have never given this
subject full examination, and notwithstanding know
you opposed TO the National Bank, | wish you