Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1841-08-11
INDIANA STATE SENTINEL

Horsr, August ?

Mr.. SERGEANT 81 lCunsylFau c0rluence4 lt
,tatiug that u was iust twenty minutes rrst eleven
und wished The chairman 20 stick pm there.
lie said the businrfs 81 the Congress was 90 put
the affairs OF the niicd States ORDER ne tbea
complimented tho House for 49, good conduct tgs
lar. He said Bans was necessary % m1he the
Constitution work right IL said the Su5-i rcasurt
rcperl would come next. and then the bankruIt
Law. lie should not 60 into the constitutional
question. upon original grounds. bot should Show
that the question vas settled. aad that every body
knew T.. lie SAID u was obvious that there was
lurking remnant Of opposition, and he wished O.
deal with II h.stor cally. lie sad tie iouse bad
n majority OF lawyers, bat he Thought they should
consider the Question os etatcsmcn. lie should
confne himself % points, and leave the muec
70 enlarge.
lie took the Chairman 10 tic year ls-0, whom The
sages cpouscd tho Of bank o. save the couu-
try lie said Maryland did not come in until ll~i.
aud m that year Congress espogsed the cause still
further and m the preamble % the b.i sisted the
exgcnccs Of the times rendered tie establishment
Of the bank indspcuslbiy necessary.
The question therefore settled before fhc Com
st,ution was formed. The Constitution was made
10 bring the interests Of the Stltc- INTO more ul-
mate connection, and be considered tAa; u was DO,
tho intention Of that instrument . destroy the power
declared before ~ case Oh an cxigeucy. BESIDES
the fret Congress under lhc Constitution chartered
a bank, and d went INTO operation Gr % y,trs
from 81 without single objection - t, or NJ least
40 petition for TfgeIt was ever presented or lIdl.
cal question raised upon the coustit1tonalty oftae
Bunk. lie said thirteen years after Csc charter, Mr.
Jefferson signed BIZ b establish a branch bank NJ
New OFeaLs.
When the Binl. charter expired Congress refused
10 re-charter ~ and for several years tie country
suffered, until men cried -ut Tor It as they cried out
now. Congress theLSnde new charter and hr.
Madison objected x/t on the ground az e< cd.ency
the CrNbr OF unconstitutoEahty. The next
year Congress made a BIZ that suited me President.
and he signed Il. III said IN l-34, tiie extra ss-
sion, the Congress declared that II was .ucxpcdcnt
not unconstitutional, 10 establ sh Bank for Tie
purpose of bringing in the panacea for % cyils-thc
Sub Treasury bill. Tie alluded % the decision OF
the Supreme Court upon the legality OF tie BANS,
and said II settled the constitutional law.
Mr. Mcclellan OF New York followed VI. SIR
GE,Nr. and moved 10 strike out the enactng clause
OF the bill. lie said this Bank bill preceded by
the promoIftory symptoms of 1907, VIZ: IA dstr bu-
tion bill, aud bill to create public debt OF SD,
O0O,00O. lie considered thls as the continuation of
Hamilton principles, and noticed the fact that
was just half century since those principles origin
nted. lie sud IN the debates Of the Constitution,
Mr. Madison declared that after three days debate
they decided 10 strike out the power to establish
Bank as dangerous TO the country. lie denied that
the Supreme Court Of the United states had decided
IN favor Of any thing but fiscal bank bank OF
deposlte-and he disagreed with the Court in their
opinion that bank even of depostc could be cs-
tabshed under the Constitution. The Constitution
authorized Congress to com and regulate the value
Of coin, and could not be tortured into authority TO
authorize the emission of bank paper drive com
out of the country.
Until the gold bill was passed in n ha said Con
gress had neglected its duties. Since that time,
gold and silver had come INTO the country from $50
100000, as estimated by AIr. Webster 1881, 20
Se0000,0 600 in 1898, and to SlOO zoe GEO IN ISL.
This was not cwirg 10 the effects If the laws at
trade, but to the effects Of the Of 1924 called the
gold BIZ. He said, when Mr. \ an rurcn came H.
% z 4
OF thirty millions, nineteen more than the cs
Inmates and the amount Of thirty -four millions of
public money nomnally in the Treasary, but the
whole amount was actually loaned 20 spectators
from dcposite banks. He considered that tie sus-
pension Of specie payments by TIE banks, was caus-
ed by the distribution or dcposltc act and that tac
troubles Of the country occasioned by said -ua-
pension. Yet Mr. Van Ilurcn carried 81 the Flor
Ga war, and removed the Indians, and minded over
10 his ustrious successor on the 4h of March last
Treasury free from debt the ciphcrug of the Sec
Rotary Of the Treasury to the contrary notwthstand
ing. lie said the people had recorded their verdcts
against the Bank as follows:
LIST. In ISL. in refusing to charter II.
Cd. 1882 in reelecting Andrew Jackson, al.cr
his veto.
Sd. In clecting the twenty fourth Congress.
ith In electing Martin IAN IGrcn, after his let
ter TO Shcrrod W llliams.
5h. In passing the Independent rrca ry bill
9th. In elcctlng Harrison aud Tglcr Tor the ban
ners in his State expressly stated, NJ Bank OF the
United States.
lie said the exchanges would be regulated by re-
sumption Of specie payments, and now. between
Charleston and New York the .tlcronce ofcxchanrc
only one per cent. lie considered the sank I'M
constitutional, unnecessary, and pIcudical 10 the
country, and said II Tyler was the same abstract on-
ist he was in l-l9 he would embrace his abs;rac-
tons : mother would her children. aad pray 10
one to correct errors so pleasing and congcnal
Mr. SAuN Of North Carolina went at lc0gth
flp Iqfl 3 -.
ton decided by the people al the last election.
The principal question before his constituents was
the negro testimony in lIooe's court martial, and
MIR. Van liurcn's gold spoons. lie said the people
had decided again and again against Bank, and
the decisions, II there had been one by tie peo-
pie, which he denied, had been reversed time alter
time. lie considered the defenders ofthe old b Il as
more manly. and Ices dangerous, and secuted tic
idea of lodging the Constitution by shielding the
Bank behind the mantle Of the District. lie thought
II the power Of creating Bank here and establish
ing branches in the Statcs existed, Congress might
declare that slavery should exist the District
and then every slave whose foot touched this ten
miles square. would be free the ofthc land.
He thought ii power was once surrendered il could
never be recovered.
Mr.. STUART of Virginia spoke to his district and
said he should vote for the Bank bill. lie spoke az
length.
Mr.. krsNrDv went ut length against the Bank.
lie said he would as soon vote for title of nob tv
for the Incorporation Of n National Bank. lie
susta ncd by his constituents Saiust this meas
lie not for curing the bite Of a dog By the
hair fhim. lie said il this b.ll passed. you would
knaves and fools every par; Of tho country cry
inc cut "see what glorious things We have"
Bot 10 icw years j, would be scattered t. Tie four
winds IN fragments tho reat4tpr tfiat r,,rt,l TOD,