The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-28

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formally o. technicaly said that the State Constitution
or law was repealed Its operation would be suspend
ed sbrogated by the necessary performance Of the
paramount authority.
The President to have regarded NJ objection
able that provision the clause which declares that
branch being established it should moi afterwards
he withdrawn removed without the previous consent
Of Congress. That provision Intended TO operate
both upon the bank and the States. And, considering
the changes and fluctuations in public sentiment in
some Of the States within the last few years, was
the security agains. them 20 be found in that pro-.
vision unreasonabIe3 One Legislature might invite
branch, which the next might attempt, by penal or
other legislation, to drive away. We have had such
examples heretofore; and cannot think that Il was
unwise to profit by experience Besides, an exactly
similar provision contained In the scheme OF a
bank which was reported by the Secretary of the
Treasury, and to which il was understood the Pre-
sident had given his assent. But II understand
this message, that scheme could not have obtained
his sanction, II Congress had passed Il without any
alteration whatever. II authorized what is termed by
the President local discounts, and he does not be-
leve the Constitution conters on Congress power to
establish bank having that faculty. He says In
deed regard the bill asserting for Congress the
right 10 incorporate United States Bank, with
power and right to establish Offices Of discount and
depose in the several States Of this Union, Nth
Without their consent; principle TO nhieh hare
Arrays heretofore been opposed, and irhc nersr
obtain my sanction" pass with pleasure from this
painful theme deeply regre,iing that have been
On former occasion stated that in the event of
unfortunate difference Of opinion between the Lee
gslave and Executive Departments the point of diff
ference might be developed, and il would be then seen
whether they could be brought to coincide in any
measure corresponding with the public hopes and
pectatons. regret that the President has not, in
this message, favored with more clear and expll-
cit exhibition Of his views. II is sufficiently mani
fest that he is decidedly opposed to the establishment
of new Bank Of the United States formed after the
4 fair IN he infer mt
the plan Of the Secretary Of the Treasury could net
have received his sanction. He is opposed TO the pas
sage Of the bill which he has returned but whether
he would give his appreciation to any bank, and, If
any, what sort Of bank, is not absolutely clear.
think il may be collected from the message, with the
aid of information derived through other sources that
the President would in the establishment Of
bank whose operations should be limited TO dealing in
bills of exchange TO deposites, and TO the supply OF
circulation, excluding the power of discounng pro-
mssory notes. And understand that some OF OR
friends now considering the practicablity Of ar
ranging and passing bill in conformity with the
views of President Tyler Whilst regret that !
can take active part in such mn experiment, and
must reserve to myself the right Of determining
whether cannot vote for such bill after
see il in its matured form, my friends that
they shall find no obstacle or impeachment in me. On
the contrary, say to them, go God speed you in
any measure which will serve the country, and pre-
serve or restore harmony and concert between the
Departments Of Government. An Executive Veto
Of Bank Of the United States, after the sad expe-
riencc OF late years is which not antci-
pated by the political friends of the President
tany not by me. But it has come upon US with ire
mendous weight, and amidst the greatest excitement
within and without the metropolis The question
is, What shall be dsne1 What, under this most en-
barrassing and pected state Of things, will
constituents expect Of us2 What is required by the
duty and the dignity Of Congress repeat that if,
after careful examination Of the Executive message,
hank can be devised which will afford any remedy
thap a,a
tion let the project of such bank be presented. II
shall encounter opposition If it should receive
| support from me-
| But what further shall dol Never since have
enjoyed the honor of participating in The public coun
ellis Of the na,ion-a reiiod now of near thirty five
years-have met Congress under happy or
more favorable auspices. Never have seen House
of Representatives animated by patriotic DISPOSE
tions-more united, determined, more business
like. Not even that House which declared war in
1879; not that which in l8i5-l6 laid broad and deep
foundations Of national prosperity in adequate prov
sons for sound currency, by the establishment of
Bank of the United States. for the payment of the
national debt and for the protection Of American in
dustry. This House has solved the problem of the
competency OF large deliberatve body to transact
the public business If happily there had existed
concurrence Of opinion and cordial cooperation be-
tween The different departments of the Government,
and all the members of the party, should have
rcd every contemplated at the extra session,
which tho People had right expect from pledges,
and should have been by this time, at respective
homes. We disappointed in the one, and an i'm
porant one Of that series Of measures but shall
therefore despair? Shall abandon ourselves to
unworthy feelings and sentiments Shall we allow
ourselves to be transported by rash and Incorporate
passions and counsels? Shall adjourn and 90
home in disgust Mol mol No! A higher, nobler,
and patriotic lies before us. Let
us here, at the east end of Pennsylvania avenue do
duty, whole duty and nothing short of our duty
towards common country. We have repealed the
sub Treasury. We have passed Bankrupt law a
benefceDt Of substantial and extensive relief
Let pass the bill for the distribution Of the
proceeds of the public lands; the Revenue bill and
the bill for the benefit Of the oppressed people of this
District Let us do all-let do every thing we can
for the public good. Ii are finally To be disap-
pointed in our hopes of giving 10 the country Bank
which Will once more supply il with sound currency
still let us 60 home and tell our constituents that we
did all that we could under actual circumstances and
that if we did not carry every measure for their re-
! lief II was only because to do impossible. Ii
nothing can be done at this extra session put upon
more stable and satisfactory basis the currency and
exchanges of the country, let hope that hereafter
some way will be found to accomplish that most des
able object either by amendment of the Constitu
ton limiting and qualifying the enormous Executive
power and especially the Veto by increased MAORI
ties IN the two Houses of Congress- competent TO the
passage of wise and sautary laws the Presidents OBJ
jeciions notwithstanding.
This seems to me to be the course now incumbent
| upon us 10 pursue and Ivy conforming to il, what
ever may be the result OF laudabe endeavors now in
progress or in contemplation in relation 10 new at
| tempt to establish Bank, we shall 60 home bearing
no selfreprosches for neglected or abandoned duty
STEAMBOAT ExPLosIoN--The steamboat Louisiana,
bound from New Orleans for ST. Louis, with United
States troops, exploded the head Of of her boilers
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