New-York tribune., 1841-04-15
From the Albany Evening journal.
4 NATIONAL BANK.

From the Albany Evening journal
4 NATIONAL BANK.
stv rast get a Jefferson trapie dis doctr'aes The
dast bcjore ,hey establish 'otsonoi BdHk Argus
W. do not intend at this discuss the prcpriety Of
creating another National Bank The popular mind steadily
recovering from the dcliriu in.o which has been thrown
bv dc-trilctivcs and demagcgues. Del>ion * passing
away and the lay distant when the People will be dis
posed regard the questions affecting their hnahci
condition with GOODNESS and candor.
word however, reply the gross and false as>i'p-
tions o the Argus be thrown away believe the
time has come when the bold misrepresentation IN when
that print has nucd for years past on thu subject may 'e
met and exposed Party cnzy mas sufficiently subsidized To
rem lis old ca,ch-wos and objurgaory statements about
National Dan unavan excite the passions or instead
the judgement of the People. national spirit OF Inquiry Is
manifested in various quarters. year or two ago 1t
might have answered the purpose OF the Argus 90 tell the
People that they o,gct Mr.. JEFFG>oH and rnpIc
HI doctrines in the , before they could establish N;
tiora Bank Notso
Daring the whole period of Mr. Jefferson, Administration
National Bank in cXi>ioncc. The re'cnucs OF The
country were collected transmitted aad dbrscd through t>
agency. MIR. JFfFEnsoS ayacd iri>e OF the Institution
conduct the financial operations Of tie Govcrmen he
existence of the Bank received his full tie made no
rononsancc against Congress. he wa 1T no warfare
upon it. He sought no divorce from, II.
The charter the old Bank expired during the Admins
tratior Of President Madison Did Mn MADisoS forget h
lusrous predecessor and trampc his doctrine III h' dust
when he recommended the ccharcring OF National Bank
In his Message to Congress in 1915 he says:
The arrangement finances. with view 10 the receipts
and expenditures of permanent peace e,;ablsnnen Val ne
ccssary enter into the eberaou Congress daring the PIE
sent Session true the p-oved condition OF e Pub-
lie viii cny afford the means OF maintaining ue
faith OF the Government with creditors nTioe and oi pros
ecung successfully the OF the most liberal I's
hut will also Justify immediate ocvaton OF me burdens
imposed by the of IL IS however essential to
every modification OF the finances that the benefits o an UNI
form national currency should be restored 10 the community
The absence the precious metals will it believed be q
temporary evil bnt untl! i.y II AGAIN be rendered e se
raj iiuIn exchange devolves c wisdom OF Congress
provide substitute which shall equally engasc the conii ce
and accommodate the wants the through mon
II the operation of Banks produce the result
the probable operation National Bank vail merit coisldera
ton and if neither Of these eNpeientS be deemed eectua
NAV be necessary ascertain the which the notes ot
the Government mo longer required instrument OF credit
shall be issued motives OF general policy as common
medium OF circulation
This portion o: Mr Madison message referred
select committee. OF which JOHN c. CALHOUN was the
Chairman On the 9Th o: anuar. 1916 Mr.. Calhonn re-
ported bill far National Bank winch passed both Houses
of Congress the Session and received the Signature o
President Madison Tohird, OF those who voted io the
rccastcr Bank the political friends OF Jefferson
and Madison Did they forget Mr. Jefferson and 'g'linPle
his doctrines in the dust when they voed or the bill
Mr. Madison in his next annual message Congress after
the Bank had been rechartced his suggestion and by the
his friends. spoke ii II a follows We quote from
hi. last message dated Sd December. 1916:
1T IS obvious that there only wanting the fiscal prosperity
of the Government the OF uniform medium 81
l,rc. The resources and faith Of the Nation spaye in the
system winch Congress has established respect and con
fdencc nome and abroad The local accnu!auons oi the
revenue already euabe Treasury meet the public
engagements the local currency OF OF the States and 1t
expected that the vii! produce the same elect
throughout the Union But THE INTERESTS oF TIE con-
MuyIrY Al LARGE rcl as for tie purposes u ne Treasury
II Is eenlai that tic Nation ShOad p0ScsS Currency ~
fzif1i r1I c,edit aH use 1rererer may circae THE
CONSTITUTION ENTRUSTED CONGRESS EXCLUSIVELY WITH
THE POWER OF CREATING A<D REGULATING CuRRENcY
LAST SESSION ~ EXECUTION OF THE POWER GIVE EVERY
PROMISE OF SUCCESS. THE BANK or THE UNITED STATES
Has BrES ORG ,>IzED FAVORABLE,
CANNOT FAIL TO BE ~ IMPORTANT AUXILIARY TO THOSE
MEASURES.
These were Mr. Madison opinions Now let Us see what
Gen uckson thought about National Bank, and ascerain
we can whether he willing 10 forget Nh Jeier
son and ranple bis doctrine dust by establishing such
institution.
Ersruc.s from Gea Jaclsons first Message Congress
L such an n>ti,uon deemed The fiscal opera
tons OF the Government submit the wisdom OF the Legs
whether founded upon the credit OF the
Governments and lis might not be devised y men you'd
avoid all 'Iona difficulties and at the same tune secure
all the advantages the Government and the COUNTRY ta
expected to result from the present Ban.-
Extrqct from Gen. Jacksous Second AnauaL Message
In the spirit Of improvement and compromise winch dsin
shes Country and Institutions, becomes Is 10 en-
Iure whether possible the advantages aor
ed by present Bans THROUGH TIE AGENCY Of BASK OF
The USGTED modified IN IT. principles and structure
obyiate Constitutional and other objections 1t IS ious
practicable organize such Bank with the necessary
5s branch Of the Treasury Department base the publ
and tdividual deposits" * In times OF pubic eheF
aencv the capacities Institution might be enlarged
by Legislative provisions.
Extract from General Jactsons Third ianual Message
Entertaining opinions heretofore expressed IN Te4uon to
The Rank Of the United States NJ present orgal-eG telt Il
nv. g in orrner messages frankly disclose them in order
bTt tho attention OF the Legislature ard the People should be
saso1ay directed 10 thai important subject, Without
ar reference the OF the subject then expressed,
leave it for present the investigation OF enlightened
People and tieL- Re9-esentatiyes'