Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-08-17

ones, rs far as possible, ought In follow.
''Mr. Randolph seconded The proposition.
"Nr King thought the power unnecessary.
| ing the general welfare.
Mr King The states will be preiudiced and divided
parties y H. In Philadelphia and New York viii be referred
10 the establishment Of Bank which has been subject Of
enon IN those cities In other places villa referred 10
"r Wilson importance Of facilitating by
mails, the communication with III. Weston settlements As
point Of view would excite The preuces and parties npreend
ed As mercantile monopoies they are already included IN
the power 10 regulate trade
SCOT Mason for limiting the power TO the single case
canals lie was afraid of monopoles Of every SORT which he did
think by already implied By The Constu
tion, as supposed by MI Wilson
The motion being modified to admit distinct question
| specifying and limited the of canals.
'PtnnSI lvania, Virginia. and Gcorsa-Aye, >.. ,o..
"Ncw Hampshire Massachusetts, Connecticut, New Jersey
Delaware, Maryland Carolina and South CaIona-So,
THE other part e Of COURSE rs including the power reject
This motion, by Dr. Franklin stated in the printed jour
nal, rs are some other motions.
Mr. Clay then remarked, it could no longer be con
troverted that II had been proposed IN the Convention
give Congress the power to grant charters oil ncor
pora!ioc and it was equally clear that it was under
stood by the members of that enlightened body, that
the power to grant charters of did include
| the power to create National Bank.
Mr. King distinctly said "1'he States will be pre-
JUDGED and divided into parties by IT, In Philadel-
pha and New York it will be referred 10 the esta-
bshment of National Bank, which has been SUBJ
ject OF contention in those cities
Here (Alr. G. said) it shown that The first, and
the motion by Mr.. Rufus King, than whom member
OF the body was, perhaps. more distinguished Tor intel
lectual power and discrimination, was that It would be
"rcferred TO the establishment Of National Bank. =
The very first idea that struck his mind was that the
power 10 create corporation power to create n
Bank. And did any member Of that enlightened body
deny the fact raise any question OF the sonndness OF
his construction? No, Sir, So far from contro-
vertng the opinion of MIR. King that point Mr..
Wilson virtually admits its correctness, by remarking:
'as to banks, he did not agree with MIR. King that The
po,rer in that point Of rien aooud eheite the prsmdees
and parties dpprchended' lie admitted, effect, that
the power TO create Bank would be embraced in Mr..
Madison $ motion; but he denied that it would excite
the preudIces and parties apprehended, or in other
words, be as unpopular was supposed
Upon the suggestion Of Col Mason, the motion was
modified, take the question, in the first place
on DR.. Frankns proposition; and what was the RESULT
Why The motion was lost; only three States voting i'll
the affirmative, and eight in the negative. And Mr..
Madison remarks
"rhe other part fell of course, included III the
power rejected"
Mr. c. said this evidence would seem TO be sufficient,
Of itself, 10 settle the question but it did not stand
uncorroboraed. Long before the publication of the
book from which he had read, the fact had been assert
cd, and reiterated again and again. MIR. Madison, IN
his speech against the Bank, which was chartered IN
the year 1871, besides arguing against the policy and
expedency of the measure, amongst other things used
the following language
served 10 nmeif dcu. authority 81 Congress
pass H. lad entertained this opinion from the date Of the
he m r,eoH - 70 grant eharers y regpo
rao" had bep P,cpo,ea N ne ,=a """s""" - :1o
ih roi., Cong. UfbGics NJ lsy0-9l.
Here Mr. Madison preserved 10 himself the right 10
deny the authority Of Congress 10 pass The Bank
charter and why did he do so "Because he well re-
collected that power 10 grant charters Of ncorpora,
ton had been proposed III The General Convention
and rejected" Is il not manifest, from this remark,
that MIR Madison understood the power 10 charter an
Incorporation and cIeatc Bank, one and the same
thing: Does he not treat them as identical: Sir,
said Mr. c., no one can deny IL.
To the same point, Mr.. c. said, also had The cvi.
dcnce Of that great man. and distinguished patriot,
Mr. Jefferson, who, although not member of the
Conye ntion, contemporary with II, and probably
knew more Of It's secret history than any man who
did no, belong TO that body. When called on by Gen.
Washington to give hs opinion OF The Bank charter
which passed in 1871, he adveed 10 the fact, al
tempted 10 be denied, and in that important state pa
per he made the following remark:
sIt is known the very power 10 create Bank now pro
posed msars rejected end by the convention which
formed proposition was made 10 them 10 ai-
Congress open canals and an anendatoy one 10 en-
Of The reasons rejection urged in the debate was that the! tn,
would have power Bank which would render the great
adverse 10 the reception If The Constitution"
II il thus seen said Mr. C., that Mr. Jefferson, on
that grave occason alluded TO this very power 10 char
Ter generations as Identical with that 10 create Bank
lie smoke of IT, not as matter Of opinion, con- ecture
but as historical truth that the proposition to grant 10
CONGRESS the power to charter corporations involved The
mower 10 create Bank-and said "the whole was re-
ieced."
Mr. c. remarked, such was the high and incontro
vertbie evidence on which the opponents OF a National
Rank rested their assertion that motion had been
made to confer the power Congress to create such
an institution and that that motion had been rejected
in The Convention. Could any thing more conclusive
be shown; Could any one doubt the authority or We
for n,oment that their venerated author either MIS-
u,derstood or misepresened any important PROPOSE
,ion. which was ever made in that body OF winch ne
was himself distinguished member: Tins book was
mt made up for selfish or temporary purposes-itWas
ncyo, ,ublshed till after his deah-he had no posi-
hla motive for mjsre representation He made pubic de-
clar,tion to the same effect in Congress, IN l79l-and
M one coutroreried lis truth. Mr. Jefferson stated inc
same facts as have seen, IN his opinion 10 uenera
Washn gon on the consttutionalIiy OF Inc hfst bahh
charter vet he TOO has remained uncontradicted Anu
e. Ill t,e truth of the record and the credbility OF
onr Jefferson and our Madison be called IN question al
~; l,.o dnv, No one would have ventured 10 I'M
naao their yerncity while living, and the respect and
Generation of their country for their memories WIZ DC
sheld or protection to their regulations when dead.
ua Mr. C.. trusted that large maory OF the
american peope hereafter, heretofore, would con-
time 10 deny Congress The power which the senator
asserts the Constitution coniers, but which II Is inah'
,ost the Convention refused to grant
EN-
there was no subject before the Convention IN which
,hs Rank question was at issue, and stated his views
If what Mr.. Madison meant
u ~, Clay of Alabama asked the Senator from
Mississippi to allow him to call his attention TO what
Mr. Madison had said and read again from MIR. maa-
sons speech against the Bank IN 9 ms asstl ch,r
ers Of incorporation had been proposed in the gene
raj Convention and rejected
MIR. HENDERSON contended that IT was not mean.
thu, The Convention should negative the power, out
that it should not then assert It, -,
MIR. CLAY of Alabama remarked that ne mao ~,
anticipated this question, and consequently naJ bs
come prepared with all the authority winch mgnr &c
that the bsd been
the power to create National pans Bn he had now an
a aSd authority which would bring 10 the no
ce of the Senate. He would read paragraph era i,o
he dth vol of Mr. Jefersons works, page QUO, which
was FIJI 10 the point and furnished irreiragabie eVi
denee the fact for which had hays taken place
y, on The 18th of March, 1885, Mr. Jefferson
speaks as follows r.. WIZ, ,,e