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

10 pursue the course II did but, having elected
to pursue this course, il should bear its due
share of responsibility for the failure of the Fis-
cal Bank. And that responsibility ought not 10
be thrown on the President wholly.
IL is distinctly conceded by the late Secretary
Of the Treasury, in his letter OF resignation,
that the action OF the President on the Fiscal
Agent bill, was conscientious and honest; and
this avowal sufficiently contradicts the idea, sug-
gcsted at the time in the House OF Representa-
| tives, that he was to be condemned as for the
absence of conscientious reasons for that Veto.
| The President returned that bill to the Senate
on Monday, the 10th day of August.
| In anticipation OF that Veto, and cotempora-
neously with it, as appears by the letters OF the
| retiring Secretaries, members Of the Wing
Party in Congress contemplated the introduce
ton Of the second or Fiscal Corporation bill
and prior to the meeting of the Cabinet to which
/ they refer, the President was called on by Mr.
Berrien of the Senate, and Mr.. Sergeant and
Mr. NC. Dawson Of the House, they being, in
fact, committee from that portion Of the Wing
Party in Congress which contemplated the in
itiation Of new Bank bill, to ascertain the Pre-
sident's views on this subject.
| The President being Of opinion, as Mr.. Mad
i ison had heen in similar case, that il was inn
proper TO take part, in this FORM in the Initiation
of bill, declined to do so.
| But in this way, as well as in various others,
| it became known TO the President, that the pur-
pose to pass a new Bank bill was entertained
| by Congress.
! Hence, it would seem, the consultation of the
President with the members of his Cabinet on
| this subject.
AT this time there was pending in the House
in Committee of the Whole, the bill to establish
a Fiscal Agent, reported by Mr.. Sergeant, on
| the 21st day of July. For the bill which the
House had passed was the Senate bill the.
House bill remaining in Committee Of the
| Whole not acted upon.
On Thursday, the 10Th of August, the objec-
tons Of the President to the Fiscal Agent bill
were considered in the Senate, and that bill was
rejected on that day for the want Of the requisite
constitutional ma jority Of two-thirds.
On Friday, the goth ofAugust, Mr.. Sergeant,
in the House of Representatives, moved the
House TO resolve itself into Committee of the
Whole on the state of the Union; and then, the
House being in Committee of the Whole on
the state of the Union, and having, at his mo-
ton, taken up the old pending House bill to in
corporate the Fiscal Bank, he moved to amend
the same by striking out all after the enacting
words, and inserting, in lieu thereof, the Fiscal
Corporation bill.
i On Saturday, the 2lst of August, the House
having again resolved itself into Committee of
the Whole, and taken up the Fiscal Bank bill,
Mr.. Sergeant's amendment was adopted after
some hours debate; and thus, without even
having been committed to any standing or select
committee Of the House, and with disregard
of the means and forms Of deliberative examina-
ton most unexampled, the Fiscal Corporation
bill was forced through the Committee of the
Whole.
On Monday, the 23d of August, the Fiscal
Corporation bill, as reported from the Commit
tee of the Whole, was taken up in the House,
and, under the previous question, and loithout
debate, passed
In the Senate the bill was referred to Select
Committee, briefly debated, and on the Sd day
Of September, passed that body.
II appears by published letter Of the Secre-
tary Of State, addressed by him to the Senators
from Massachusetts, on the 25th of August,
that the President regretted the introduction of
the Fiscal Corporation bill in the House, that he
wished the whole subject nigh have been post
poned to the regular session Of Congress, TO af
ford time for information and reflection before
calling on him to form an opinion on another
plan for Bank, and to enable him to act with
out the restraint or embarrassment to which he
was, at the present time, by collateral facts sub
jectcd and for these reasons expressing it
his (the Secretary of State's) opinion, that it
was the duty of the Wings to forbear from press
ing the Bank bill further at the present session
Of Congress.
For the same or similar reasons il was felt
from the beginning by many, that the action of
Congress in the matter of the Fiscal Corporation
bill was ill-advsed, hasty, hazardous of much
evil, and promising no good.
But other counsels prevailed; the bill was
passed through both Houses, submitted to the
President, and by him returned to the House,
with his objections, on the 9th day OF Septem-
Der, and in the House, by vote according to
the constitutional form OF reconsideration, it
was lost
This act of the President has subjected him
| 10 new allegations of censure in addition to, and
other than, those which followed the first Veto.
The President, it is charged, rihed with one
or more of the retiring Secretaries. OF what
occurred at Cabinet meetings, the Public knows
and can know nothing. But ms to the main
point, whether he initiated the Fiscal Corpora
! ton BILL.
This idea is incompatible with the dates and
facts above stated, which show that the consd-
Grafton of a new bill was forced on the Presi-
dent by members of Congress.
! 1t is also, incompatible with the fact that, on
Tuesday, the 18th of August, as il is said by
the Secretary of War, the President expressed
TO him doubt as to any bill;-
| That, at the very Cabinet meeting itself as the
Secretary of the Treasury declares, the Presi-
dent declared "a wish that the whole subject
should be postponed till the next session of Con-
| gress'; s.
| That it, at any moment before the Fiscal
Corporation bill was moved in the House, il
was seen by the President, yet, as admitted by
the Secretary Of the Treasury it was never
seen by the President in his presence; and of
course il was not before them at the meeting of
the Cabinet.
| 1t is further alleged that the Fiscal Corpora
ton bill is, in fact such an Exchange Bank as
the President, IN the first Veto, and in CONVEX
sation with individuals, encouraged Congress TO
suppose he would sanction
| In regard TO this the President, it is believed
never lost sight of the fundamental idea origi-
nally in his mind either no discounts, or, ifdis-
counts, assent of the States.
| This appears from the whole tenor of the Sc
|