The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-09-02
Debate I'm the Senate.


N@sF<NF
AZ che Unifsd STATES.
July q. issI.
csaeludes.
Ia 1871. Congress took pp he suhiee,
ef she 6nsaces and ne currency. insoi,ee
In the proposition Of the Secretary Of lhs
Trs.ufy for the essabInhmenl Of a IA
usnsl bank. That venerable assembly
vas composed. in part. of men who had
hsen 10 The councils Of the Confederation
Pending The revolution. lie Necessity 81
such % in-tiusiaa. as financial lns,rn-
men,. I'D been iell snd sckaow led sd.
The ysss 1850 ~. one Of extreme de
pressiea IN The affairs ~ the Slales. The
t:0sernmeni sas sithnal money aud
without credit. That army. fm ssni al
tho means 81 subsistence. vas on The
verge IL dissolution. Az q temporary
excellent hank ~ss established by
subscription far the purpose of supplying
the army with provisions. which eonlinu.
ed far one yesI only. In Mar. 1881,
Congress. upan The Recommendation Of
Rob Il NJ rms. who had been appointed
90 the .ffiee of Superintendent Of RI.
nance, adapted resolutions. .sppro, ing
tie plan Of national bank in tkese uui,ed
Safes" aud. 90 The 3isi ID. c.mber fol-
loving. they passed . an ordinancs n in
corporate the snbsrr,hers 90 ihe b INK az
Nafih America" The Ell. c, af the
measure IVES - instantaneous % il was
efficient. Pnv.ir ard public credit re-
weed. The financial operations of the
Government were strengthened and faci
lna,ed. The ssuse Of Independents 20
ceived affesh impulse. When. lherrfare.
under the new order Of things. produced
BY change in the form VI The Cons,iia.
lion. a similar measure wss proposed,
IL bad The singular advantage Of . saiuis-
W experience IN ne behalf. But that
was not lie only advantage. 10 the Con.
gross Of 1891. were miay members Who
bnlsngsd 90 The Convention OF 1857.
There were in the Senate. John Lingdon.
Of New Hampshire; RuIus King aud
Caleb Strong. Of Massachusetts; Oliver
Eil.waf,h aud William IS. Johnson. of
Conneciicui; Robert Morris, of Penn., I
vania; Richard Ba.seu and George Read.
OF Delaware; Pierce Butler, OF South Ca
rslina; and William Few. Of Georgis:
And IN she House ii Representatives,
Nishalss G,lmsn. of New Hampshire;
Elbndge Gerry. of Massachusetts; Roger
Sherman. Of Connrcleu'; George clymer
aud Thomss Fitzsimmons. Of Psnnsyl
,anis; Abraham Baldwin. Of Georsis;
Danitl Carroll, Of Msryisnd: James Mad.
i'on. Of y,rginis; and Hugh Williamson,
Of Nm,h Carolina. A aell epon The ex
pejiency of est ,bli.hing q bank. as upon
tie constitutional power Of Congress. they
were divided In opinion; but faro thirds
81 their number DECLARED. on their oa'hs,
thai they believed The power TO exist, sud
voted Tor The bsuk. The deliberations of
the Srnsie were not then conducted in
the sane public m ,nnrr that they nav are.
The jiurnsl. however, sheds abundant
lgh, upon The subject
The bill 10 incorporate the bank was
first reported in The Senate. The yeas and
nays we're nal taken on lie final passage.
Tue te.t question seems to have been on
moiian % strike out that section which
provided. that no other bank should be
established. by any future law Of Congress.
during The continuance OF The corpnra'ion.
The Senate refused. BY a large msjnriiy.
TO strike oa,-siessrs. Butler aud Few
voting in the affirmative; and Me's's. Bias
feu. ElI,wor,h. Johnson, King. Langdon,
Morris, Read. and Strong. in The negative.
The House decided the main question
by m>jari,y of ninrteen--yeAs 80. nays
2o-Mrssrs Clymer. Fitzsimmons. Gal
man, Gerry. aud Roger Sherman. IN the
affirmative; and Messrs. Baldwin, Carroll,
Madison, and Williamson. in the mega
dive.
The b | pass j hnth Houses, and wa,
presented 10 President Washington for his
Concurrence. need NOT remind you, sir,
ihat he was President of the Convention
that 6rmed the Constitution. lie con-
suited his cabinet. and found them equal
Nv divided-M,. Hamilton and General
Raux affirming The eon.tiiut'onalrty, and
Mr.. Jefferson aud Mr.. Randolph denying
il. Hrrequired their opinions in writings
and, afrer the most candid and mature dc
Liberation. he approved The bill, aud II be
came law of The land.
Thus. then. sir, il appears that Of the
twenty-five members of The Convention
cf DISCRIMINATING General Washington
Mr. H4millnn. aud Mr.. Randolph. who
pave their opinians on the bank char.ro
l79l--6f,ern admitted The power ofCon
gress. under The Can.,i u,ion. to pas. il
and seven were opposed 10 its passage
Sirh is brief isg,sl tive history Of tbs
hrsi Baak. Of the United Safes. aud sucf
the prepandprsnce oil ihs members Of th'
Federal Convention in favor Of abe char
ter
10 March. 1901. NJ. Jefferson ven
Into The office of President. We hav'
witnessed his opposiliou 10 the creation
III the bahE I'm the 12d of NJ ,rrlt 1904