Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-31
SPEECH OF MR CI.S

In The Senate Of the u. States. J,.,ss., ILL.,, 49,,
Mr. CLAY, Of KeAtueky, s,iJ Thar IN. L., =
nearing stu continuing, to which he alluded yes,.
cay Gepuving him OF the suisf. ction of Sc1,,n,
u'het senators, and preventing him from 50 rrrIa7
uhg or moduiatng his voice as 10 Inc f,vohsL,
heard by them, he had occasion for ,lI H. -, o,aoy
uugsnee OF the Senate in the few ob.eTvnT;am.
which ne now meant 10 address 10 IL Dn,in, 81 =
Posless oil thls bill, MIR President Il has been Se,r
" manifested that there is decided n,,io,, - ~
sI1'e ~ IaVHr OF the establishment Of n National
BANK For himself, he believed that il s,ooJ ,,',
prominently as the FIST among those measures NJ
teHeL which he tervenlly hoped would b, sen, m,
~ OS'eAs from It's present session. 10 re-esta bIi,h
we business and the prosperity of the count,y =
Otner measures would undoubtedly extend r,,,ci
net Ou1It wou he limited and not general. viii,
every section, every interest," every person ricb ana
Poo'' "ouh &c benefited by the blessing Of sound
u.'e"Cy' u we pass all other contemplated mea-
eu'es' anu iill TO pass this shall fall far short oC
me JUST expectations Of a suffering PeepIe. Ru,
the passage OF this only, without any other me- a..
sure would have fully justified the convocation of
Congress. "
But Notwithstanding the urgent necessi,v n
nauorni bank, It IS well known on all sides Of the
senate, that the bill as 1t present stands IN re-
spect to the branching power Of the bank. c,nno,
pass lhis 0odyi but will be rejected by majority
OF 20 TO 70, If all the members be present Ipdc,
these painful circumstance, what ougbt to b 49,
Sha'i we return home without fulfilling the homes nj
nose WHO sent US here, IN respect TO a N.tiono
BANK! We have thought 1t due TO the country. and
70 our Own obhgauons to leave no honorab e means
unemployed to bring about concurrence of opini.
on u possible among those members Of the Senate
VINO egrce as to the necessity OF a national b,nk-
we nave accordingly conferred and consulted to
ge'her, and nterchauged opinions and views IN that
'pIt Of conciitatIon and Concession which sh,uld
ever animate those who arc united IN opinion ns IN
the object 10 be accomplished, but are unfortunate.
| ~ DIVIDED on subordinate points. We have not look
go beyond the Senate. He tMr. CO. does not
Know, does not wish, and has not sought 10 know
| me opinion Of the chief Of coordinate branch Of
the Government, IN respect TO the propo .on which
| he was about to submit Not that he was waning
IN nigh respect personal and official, for the exalt
] cd person TO whom he audGdY Uut because il yy,s
IN his (mr C's) Judgment, against the spIrIt and
genius OF free institutions, that the deliberations Of
the Legislative branch Of the Government during
the progress OF great measure under its considsrs
uon' should be affected or regulated by Opinions,
real or imaginary, Of tho Executive head.
The result Of the consultation to which he has re-
tercd, has been an amendment to the rs n lunda-
mental rule, which he was bout TO propose That
amendment proposes modification OF the branch.
lng P3Ter OF the bank as reported by the commit.
tee. lie adheres land he believes ali of the nino
teen poll cal friends who voted with him in reject
ing the amendment proposed by tho Senator from
Virginia, MIR Rves, adhcrc) to the unslnksn con.
ylcWon that tho best form 10 confer that power on
the bank is chat which was proposed by the com.
mi.tee. Their preference remains entirely unchan.
ged But seeing that II was impraoticable 10 carry
through the Senate bill with that modification Of
the power, they and their differing brethren have
ianHlou'iy sought substitute which might be so
tsliciOry 10 ALL This he hoped was found IN ia,
, amendment which he would now read:
"And the said directors may also establish one nj
more competent Offices Of discount and depOsite n
any territory Or district Of the United States, and ir
any State, with the assent Of such State; and wher
established, the said Office or Offices shall not he 70
moved or Withdrawn by the said directors prior 1,
the expiration Of tho charter, without the previou
assent Of Congress: Provided, IT. respect 10 an,
State which shall not, az the first session OF the ..
gIsoiure thereof held after the passage Of this act
by resolution or other usual legislative prrcscdin,
Internationally assent or dissent to the ostabiisb
mont of such Office Offices within &C. the assent a
" the State shall thofoahes be presumed; and provi
e dcd, nevertheless that when It shall become n,ces
{, sarY and proper lor carrying into execution any
the powers granted in the Constitution, 70 esint
iish any Office or Offices IN any Of the States what
ever, md the establishment whereof shall be dirsc
10 cd bY law, u shall be the duty Of the said director
"a 70 establish such Office or Offices accordingly
w. Two opposite opinions prevail rs 10 The branei
- ing power. According 70 one, the previous asset
y Of the states Is necessary according to the other
4 Is not The difficulty hus been 20 reconcile the
=, conflicting opinions. That u tho object Of N
" amendment. We, who think the power exists
81 Congress- cannot consent 70 surrender or renoun
I'd u. We consent u no bill which might DO co.
A. suued IN imply such surrender or renuncaio
But VIC think that, IN creating this corporation,
will possess no more nor less power than " conis
rod upon 10 by Congress ia the charter which btin
IL into existence. II is not ~ our view, indispo
a sabe that Il should possess the branching pow
unrestricted. We are satisfied that that unrestric
ed power should remain where We respectfully thil
the ConsuIutisn has placed Il, IN Congress, and N
Congress should forbear 10 invest the bank with /
o. right TO exercise it.
+. To tho opposite opinion, held by our friends ,
wv are disposed so far 70 concede ne TO admit that
bank shall not be allowed, IN the first instance,