The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-24
From he Yer York Tribune.
THE BANK QUESTION.


From he Yen York Tribune
THE BANK QUESTION.
The following letter from w Washington gives clear
and Just a view of the position of the CABINET the
Bank question, OF the difficulties by whichthe subject
is surrounded and of the extreme Inconsistencies
il strikes us of the attack which has ben made up
on Messrs. Webster, Granger and Ewing for not
throwing up their places and hurting all into chaos
because President Tyler would not instntly Tecant
at their bidding, the opinions which he has cherished
and openly avowed for the last quarter o century,
that place it entire before our readers 1t appeared
originally in last evenings Commercial
The we consider this matter, the more unwise
does the appear which the Cabinetare censur
ed for not taking Suppose they had thrown up their
paces-woud thai have nqushed President Tylers
objections TO old fashioned Bank Obviously not,
but the contrary. Would it have healed ne d. ference
of opinion elsewhere prevailing BY 10 means-it
would have given II emphasis, and made : landmark
of division. Would it have increased theprobabllities
of obtaining efficient Bank3 No nwould have
done nothing but mischief, and that Of The most
mentous kind. But to the letter:
WASHINGTON, July l6, lS4l
My DEAR SIR-T am quite willing to answer your
questions, and to give you my opinion fully on the
Bank subject Without replying TO yopf inquiries in
their order the object Of the whole of them may be
met by some general remarks.
No man entertain doubt that the late Admi-
nstration overthrown chiefly by feeling of OPP
position TO its policy in regard TO Finance and Cur
reney Other co-opera,ed but this st be adj
milted to have been by far the general and The
most powerful II is quite clear, therefore, that
thorough change of this policy is demanded by the
People of the present Government and if this end be
not attained the greatest purpose OF the revolution will
be defeated All this is obvious enough.
II is true also, that among those who sought, by
change Of counsels, 10 effect sautary change in
gard to finance and currency, great majority enter
tanned the opinion that the agency of Bank was in
dispensable. But this sentiment was not unanimous
Many of the Southern opposers of the policy of Gen
Jackson and Mr.. Van Buren, not Bank men
Your memory will Immediately supply you with
long list Of persons of this class that quarter Of the
country; and though sentiment was more united IN
the North, yet even there exceptions existed The
distinguished Senator from your State had, even
after coming anew to the Senate mainta ned the I'M
consuonalty Of all Bank charters under this Govern
ment. The failure of the Opposite system, in 1897,
probably increased he number of the friends of Bank
but still there remained many persons who, IT con-
WINGED of the expediency did not nevertheless, adj
NIT the constitutional power to establish such an lnsti-
tuition.
Under these circumstances the Wing Convention
met Harrisburg in Dec. 1889 and nominated Gen
Harrison and Mr.. Tyler candidates for President and
President The opinions of these gentlemen
generally known all political subjects and those of
the latter gentleman especially the Bank question
were well known the sentiments Of any public
man any subject whatever. From 1919, to the
day of nomination, those sentiments had been express
ed and repeated in all FORMS both in and Of Con-
gress. The Convention nominated both these gentle
men without asking or ecelvr pledges and solely on
the ground of their known character and opinions,
and on this ground the canvass commenced and
carried on. In the course of it opinions were fire.
quenty called for and expressed especially by General
Harrison.
Now without going into particulars, a fair account
of General Harrlsons opinions is that with strong
leanlngs against Bank of the United States yet, #
should be found TO be necessary in ordero cary on
our Government successfully, he would sanction it.
And fbr the same reason he would consent to give TO
the Bank such powers and no others, as should be
fOund TO be fHdiSpenSdbiy necessary This Is the ge
neral doctrine of his speech at Dayton, and Is in con
nance with opinions expressed by him on other &C.
casons He will there be 10 have placed this
constitutional power of Congress TO establish Bank
upon that clause of the Constitution which authorizes
II to pass all laws necessary and proper for carrying
the powers of Government into effect. This Gen
Harrsons ground. and on this ground we fought the
battle for him. We elected him: we him inau-
gurated--we saw him surround himself with Cabi-
net, and enter upon his high dues-but death terml
mated his the end OF the first month Of his adj
ministrailon The Executive power deyolyed on the
Vice President. He repaired TO Washington, found
an Extra Session Of Congress already summoned and
requested the continued services of those Heads of
Departments who had been appointed by General
Harrison
Now, what ras Il The duty Of these gentlemen 10 dol
do not propose TO this question: for several
reasons. But leave it for your own reflection and
repeat it--lrhaf hey 10 dot On the Bank
question--tha is, the extent of the Constitutional
power Of Congress-they differed from the President,
and it may readily be supposed that where there was
mutual respect and confidence, all practicable means
Of approximation and agreement honestly and
candidly exerted Nor il be al all doubted that
the President, from Difference to the sentiments of
the people who had elected Gen. Harrison would as
far as possible forbcar from disturbing any thing set
tied by him. and that he would also TO the extent of
his power, and so far his conscientious sense Of
duty to himself would allow, do every thing to fulfil
those public hopes which his election had inspired
But he, too had been elected to the second office by
the People, with aell-known opinions this great
Constitutional matter, any modification Of which must
be left to his own reflections and his own conscience
The power Of approving or disappearing Acts of Con-
gress is power belonging to the President alone
He may advise with his Cabinet, but the entire ro-
sponsibty Of the final decision rests with him
But the position of the President in regard to the
Bank question was not the only difficulty. Important
Wing Members, in both branches Of the Legislature
stood in the relation to this question as the Pre-
sident. ! need not name particular gentlemen; but
there was good reason 10 believe from the first that
Bank charter, without some essential alterations
from the old forms, would not even get through
Congress.