The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-10-02

admits that at the request of the President he in
serted clause in the 10th fundamental article Of his
own bill forbiddng the agencies discount The
cond bill asserted the right TO locate these agencies
without the consent Of the States and give them
limited authority TO discount in the shape Of bills OF
exchange. In the conversation on the 18th the Pre-
sdet expressly limited the agencies 10 the transfer Of
the public moneys and connected their action on the
exchanges and the currency to this transfer Of the
public moneys The second bill gave these agencies
full power to discount bills Of exchange to any
emount,
have thus demonstrated that, up to the 18th of
August, the President conversed fully and fairly with
hs Cabinet On that day he appealed to them and
saii, You must Stand by me in This emergency"
Aul in answer TO this appeal, his Cabinet did under
t.le 10 see that the House should pass a bill which
he could approve without Inconsistency The
al esion is was the second such bill / have de-
raonsrated that it was not
But there are other facts connected with the resg.
nation of the Cabinet Of which ii is proper here to
treat
This conversation the 18th. After this,
Mr. Clay delivered his speech in the Senate in which
he denounced the president, and his Veto, and de-
cared that he had the authority of part of his Cabi-
net saying that the President, had vetoed the first
bill against their unanimous advice. Mr.. Bolts let
Ter denouneng the President, and declaring that
bill would be concocted and passed, which would dis
grace him had been published; secret caucuses had
been held and that the bill had been concoced in eau
Gus, and was the work of political cabal, some OF
whose members undisguised and bitter in de-
nouncing the President was openly ayowed, and
Messrs Wise, Gilmer and Profit, in reply to MIR
Clay, had in their places in the House, openly de-
nounced the Cabinet, and urged the necessity OF re-
organization, That the bill was concocted in caucus,
and hurried through the House without amendment
debate by resolutions adopted in caucus, was well
known and is admitted by MIR. Ewing, who tells us
that in this crises the President appealed to his Cabinet
to have the bill laid the table and the subject post
med until The next session. Mr.. Ewing also tells
us that he refused to exert his influence crafty the
President in this respect unless he would pledge him
self as what he would do in case the question was
then postponed and that while the question pend
ing in the Senate the matter submitted to eau
Gus Of the Wing members of both Houses who re-
fused to authorize the Wing Senators to postpone the
bill because the President would not pledge himscfas
10 what he would do.
Now, let US stop for moment to examine the posi-
partisans have placed the country and the Wing
partyl
Congress is nearly equally divided. One party in
favor Of and the other decidedly opposed to- Bank
The President tells Mr.. Ewing, at the commence
ment Of the session. that he does not believe that Con
grcss have the power to create corporation in any of
the States but at the time tells him that he does
believe that Congress create Bank in the District
Of Columbia that the Bank may be authorized TO To-
cate branches in any of the States with the assent of
the States and when the States refuse this assent,
the Bank may employ agents to receive transfer and
dsburse the public money-that he believes that to
give the Bank the of the public money and make
its notes and its notes only receivable in payment OF
the public dues will enable that Bank regulate the
exchanges and thus regulate the currency. He tells
Mr. Ewing further that this transfer of the public
money to this Bank and making its and its notes
only receivable in payment of the public dues will in
duce the States to give their assent to the location of
branches within their limits and that thus, by the
ercse Of admitted powers by Congress and the States
Bank may be established free from all constitutional
objection, and relief given to the country by the ad-
Jus'men of the question of the currency. He tells
Mr. Ewing this the single point Of difficulty. And
accordingly when Mr. Ewings bill was under consid
Grafton, this the only point discussed-the Pres-
dent did not read the bill throughout-his attention
was occupied with the 10th article alone. No one de-
mes the power of Congress, as the local Legislature
70 create Bank in the District of Columbia. No one
denies the power Of Congress to say that the Of
tha Bank alone shah be received in payment pull lie
dues and no one will deny the power of the 81 ate of
New York TO authorize tha, Bank--the right to do
50 having been given in the chatter TO locate branch
Or ! anches in New York. Wou,l New York have
permitted the public moneys collected IN that State TO
be sent to Philadelphia or Boston, to bu,,d up rival
cities rather than give the Bank permission loo ate
branches in that State No one can for moment
believe il
But it is said that this would be an enlargement or
ameninent of the Federal Constitution by the action
Of siagle State. How preposerons 1t is not
enlargement Of the powers of the Federal Constilu-
to1 II is but the exercise of powers admitted to exist
HI the Federal and State GovernmeLts--ea acts
wltn It's admitted powers, to accomplish what many
dtay that the Federal Government of itself do
Al why reu e to accomplish this important measure
in HIS manner2 No will now deny that Bank
might have been obtained at the extra session if
Mr. Clay and his pariizans would have inserted the
provision that no branch should be located in any
State without lis ask wherefore refuse to
accomplish this important measure in this mode since
all must have known that, under the crcums,a nces in
which we were placed, this the only mode in
which il could be done
The question between Mr.. Clay and the President
not question of Bank Bank lit was
Shall the Bank locate its branches in the States,
ag7nst their consent
have demonstrated that no State would have re-
fused is assent to the location of any important Bank