The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1841-08-24
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ri gsal Bank NV
ri. s,,,,e OF THE UNITED STATES: =, =,
TIE o Sn' untitled 'An act to incorporate 'ne SUD,
a The BIZ v"I r;scaI Bank of the United States
r1srs o. Wv ID IN the Senate, has been considers
btb OT'g'"a''' sircere desire to conform my ao-
w" safd to it, to that OF 'n9 :. Nv" "da mv any,
\ ID rs yBy The constitution it is MADE my au'y'
age'''-D the bill by signing it, or to return
Jh' 10 'Pr s;oc,ious TO the House in which 1t orig
N With %! w. no, conclentiously give it my APPROX
#ard' ' TO discharge the duty required oil
and Trao.utution--to give my reasons Tor
E. nPPro'"9' cC,nr,ess TO create additional Bank
Tue ry" M, Sc over the Union, has been ques-
q ,Ii.Dae from the origin of our Government
X w." o'r .,,,, esteemed for their high intelcc:u-
= lN n'', ,,. their virtue and their patriotism,
* ''oO"". .,d nit, entertained deterrent and con-
II" .;pioos Congress have differed. The
mS coro President has been followed by
,,,I of another, The people at differ
Nv O''y' h,,,acuuiesced in decisions both for IL
M " " The country has been and still is aeitat-
RI ., III. unsettled question. it will suffice for
' w.. ,bot my own opinion has been uniform
AZ ',,med 10 be against the exercise of any
~ .,ssr nv This government. On all suitable
,,,aus, during period oftwenty five years, the
.a,, Tins entertained have been unreserv-
&iy npressed
I3,,lared it in the Legislature of my native
Il h.. In the House Of Representatives of the u.
R,,. +, has been openly vindicated by me.
+, ,ho Senate Chamber, in the presence and
4 ,rnc Of many who are at his time members of
.,hodv il has been affirmed and reaffirmed, in
,pebcs and reports there made, snd by votes
4 i.,s rpcorded In popular assemblies | have I'M
{xi,,tOey announced il; and the last public dec
,,,iou which made, and that but n short time
l.6prhe late Presidential election, referred to
!, DpvOusly expressed opinions as being those
4 Nm entertained BY me. With a full knowledge
fbs opinions thus entertained, and never oonced.
\ Twas elected Vice President Of the U. Statos
h the occurrence ola contingency provided for
N The Constitution, and arising under an impress
I've G:pcpsa,ion of Providence, | succeeded to the
Frs1criaI office. Before entering upon the du-
|is ciha, Office, took an oath that would "pre
|nre protect and defend the Constitution of theU
ASnts"
\ Easrtaung The opinions alluded to, and having
&ahl could not give my sanction to any meas
&ndh3 character described without snrren dcrine
claim 10 the respect of honorable men--all con
dmce on the part Of the people-ali self respec,
< regard for moral and religious obligations
Without an Observance of which no government,
En be prosperous 81 no people can be happy. II
ia uld be 10 commit crime which l would not
$iGiy commit 10 gain any earthly reward, and
Which would justly snt iect me to the ridicule and
3m Of all virluous men.
8Ide'm 1t entirely unnecessary at this time to en-
4 upon The reasons which have brought my mind
4 The convictions feel and entertain on this sub
Fi They have over and over again been repeat
hSomo of those who have preceded mo in
'sAISh Office have entertained and avowed dill
FM op!nions, yield all confidence that their
|'c'ons were sincere. I claim only to have tn e
Fmeasnre melted out to myself. Without go
ar'her INTO the argument, will say, that, in
ping to the powers of this Government to col
F. safely keep and dsburse the public revenue
'ncloen'ty regulate the commerce and exchana
have not been able to satisfy myself that the
|'o'shment, by this government, of n bnnk ol
|NOOnt, in the ordinary acceptation of that term
unnecessary means, or one demanded by pro
lN'y, to execute those powers. What can the 10
/ discounts ola bank have TO do with the col.
f'''0' safe keeping, and dishursing of the reve.
Ea
TAI as the mere discounting Of paper is con-
quite immateria' to this question ,wheth
"'oscount is obtained at a State Bank or u.
spank They are both equally local-both
4''ns and both ending in local accommoda
H. "hAt influence have local discounts, grant
4, H'ny form oiBanks,jn regulating the currency
'''n40ses' Let the history of the Iato U. s.
~" ''u us in this inquiry
s''e'a Years after tho establishment Of that
or,,. O"' deal, almost exclusively in LEGAL is.
h. ''u uurns that period the country was, for
ieo.,., r"' disappointed in the consequences an
|s,'n "''" lis Incorporation. A uniform cur
MI ~. provided, exchanges were not regu
,,,n'. ''''e or no thin was added 10 the geper
MN. '"' and in 1920 its embarrassments had
! 10, n s'ea', that the directors petitioned Con
H., 'r'a' mat article of the charter which
%r. l w. receivable every where, in payment
hha IN ,oo
bali Df 100 this period, dealt to but very
and ,. IN exchanges, either foreign or domes
hou0,.1 'ae as 1873, its operations in that line,
|pn W.. 10 a little more than 81 900 900, per an