The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-06-25

ey MS is necessary for the economical adminstra-
ton of the Government? We hazard little in an
swering, No. We have too many indications that
the history of the past, if not forgotten will he DIS
regarded as far as it dare be and that Southern
industry and slave labor will again be made to bear
the burhens of partial legislation and unequal tax
alton. Under preteXt of taxing Injuries, wines and
silks, which are so largely exchanged for our sta
pies, have already been selected for heavy duties
if to raise revenue, absolutely necessary, all lux
uries were equally taxed, we should have no cause
of complaint or if the taxes now imposed on neces-
saries were reduced and the sum lost thereby made
up by equal taxes on all Injuries, we should see
reason to applaud a measure which would afford
essential relief to the laboring classes, 1t is not
that silks and wines are te be taxed, but that a
mongst Injuries, they alone, which constitute so
large portion of what is exchanged for the pro-
duets of our labor, should be selected-it is this
odious observation-disclosures new Southern wing
phrase by which is disguised the principle OF pro-
lection, and which, ifadmtted, will make the Com
promise worth less than the paper it is written up
on. Let the principle of protection be given up as
promsed and the Compromise be carried out ac-
cordug to its true intent and meaning, and 1t VIII
be bond of union strong as brothers love. we
will agree, if taxed fairly and equally, to divide our
last dollar with the Government but we deny It's
right to enact a protective Tariff: to wiring from
US by unconstitutional legislation the proceeds OF
our honest labor and South Carolina is no more
compared now, than her history proves she ever
has been, tamey 10 submit 10 oppression and ly-
ranny.
Coincidcnt in point of time with these measures,
and forming part of their great scheme of opera
tons, they purpose the creation Of public debt,
and the repeal of the act establishing an ndepen-
den, Treasury, with the same fraudulent intent TO
furnish such an excuse in Il pretended neces-
sily for establishing National Bank and furnish
irr. in the stocks issued for the public debt cap
itaI 10 be subscribed for it, First, the public trea-
sure is to be unconsuionally wasted by diStrib-
utng it among the State, that II deficiency may be
made in the public reyenue-mcncy must then be
borrowed to some 40,OO0,0 900 Of dollars upon
stocks issued to secure the oan-aud the ConStl-
iuloual Treasury abolished to make way for Ma
onal Bank, large part of the capital Of which
will be subscribed fer and paid in this stock as the
capitals Ct its predecessors both were. by thus
burtelng for their support, the indebted states are
brought up BY distributing the land revenue, the
Tariff Interests b. protective duties, and the stock
iohers by the esah' shng ola bank and all those
who are in favor of Internal Improvements and
other cxlrayagant schemes of lavish expenditures,
because these low rs the natural and almost ne
cessary result, of their Authoritarian principles.
OF all these measures, that which is The sub
iect Of their most strenuous efforts and the object
If T. cir most anxious hopes is National Eank-a
party rmk-the great means 10 cement Their party
10 perpcuate lis Hsccndcncy and TO override and
crush down the spnit oirepubican Democracy aud
constitutional freedom. We deny that Congress
has any Constitutional power to incorporate Ma
,mnu Bank. Il can only be carried on by an in
cornorllcd compnny. The Constitution contains
no rrpnt of power TO establish a Bunk--on the
contrary the journals of the Convention which fra
med the Constitution, shew,
That power TO make a National Bank was ask
ed for aud refused:
That power 10 grant charters of incorporation
was asked for and rciused
And this proposition, though varied IN many
WAYS and often repeated, was as ollen Debated
| indeed so lcaIonsy was the power OF ihco'poFa-
ton. REGARDED, that in refusing it for canals and
Internal improvements. Mr. Jefferson tells us It
wns from n fear that such incoi poraons would be
converted into Banks
The power to make Bank, and the power to
create any corporation, being thus repeatedly rciu-
sed 10 the Constitution, can the General Govern
ment assume it by Indirect means-by implication
and construction! 1t is claimed MS necessary aho
proper to carry into effect the following ennmera'
ted powers to collect taxes, n"'''S' nhpo,'s "''
cxci.es; to borrow money on the credit Of the I'M
ted States, TO coin money, and to regulate com
mcrcc.
I If necessary and proper TO effect these grea
ends, why was the power TO establish Bank alb
so'ute,y refused b, the Convention: 1t cannot b'
pretended in answer 10 this question that the Con
yen,ion was ignorant OF the uses oil banks BE
sides the Bank of England, and that oil New orN
in New York, and Of Massachusetts, IN Boston
then in existence, the Bank OF North America wa
ut that very time in successful operation IN the We
~ city where the ConN cntlon was dellberallng
ii was therefore within very full knowledge OF al
the advantages which their agency promised, o
the agency of National Bank could afford, tina
the convention forhorc to avail itself 1.-THE icrme
aud utterly refused to incorporate the latter. Con
siderinr il neither necessary nor proper, they re
, fused to allow it an existence. II is no reply TO
constitutional argument to say, that circunrtance
, have now changed and make that now necessai
|, and proper which was not SO then; that wouI
, make the Constitution the creature Of cilcums,an
ces, changing and varying with every hucluatio
, in our condition. Instead Of which being a fun