The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1841-08-05

ET fnaf p0Wef @ AlN AeAlA - AA4A 49,
vas proposed BIZ the COMMITTEES. Tier
preference remains entirely rnchanged.
Bus seeing that il vas impraetieable %
rarry through the Senate bill with that
Of the power, they and their
differing brethren have anxiously sought
1 substitute which might be satisfactory
10 al. This he hoped was found IN the
amendment which be would now read; 1
a And she said directors may also e.
isblish one or more competent Offices Of
and deposiie in any territory or
district of The United States, and IN any
State, with the assent Of such Stale; and
when established, the said Office Or Offices
shall not be removed or Withdrawn By the
said directors prior 20 the expiration Of the
without she previous assent Of
Congress: Provided, Ia respect 10 any
State which shall NOT. AZ the first session
Of the Legislature thereof held afler the
passage Of this acl, BY resolution or other
usual legislative proceeding. uncondition-
ally assent or dissent 10 the establishment
Of such Office or Offices within il, The as
sent Of the said State shall thereafter be
and provided. nevertheless,
that when il shall become necessary and
proper for carrying into execution any Of
the powers granted in the Constitution.
10 establish an Office or Offices in any of
The States whatever, and the establish
ment whereof shall be directed BY law.
il shall be the duty Of The said directors 70
establish such Office or Offices accord
ingly."
Two opposite opinions prevail IS 70 the
branching power. According % one, The
previous assent Of the states j. necessary;
according 10 the other, il Is MOI. The
difficulty has been 10 reconcile these con-
fiiciing opinions. That is The object Of
this amendment. We, who think the
power exists in Congress, cannot consent
10 surrender or renounce il. We can
consent 10 no bill which might be constru-
ed 10 imply such surrender or renuncia-
ton. But we think that, in creating this
corporation, il will possess no more nor
less power than il conferred upon il BY
Congress in the charter which brings Il
into existence. II Is not, in our view,
indispensable that il should possess the
branching power unrestricted. We are
satisfied that that unrestricted power
should remain, where we respectfully
think the Constitution has placed il, in
Congress, and that Congress should for
bear to invest the bank with The right
10 exercise il. .-.
To the opposite opinion, held by our
friends, we are disposed so far 10 concede
as TO admit that The bank shall not be
allowed, in the first instance. 10 establish
an Office Of discount and deposiie in any
state, without the previous assent of is
Legislature. But, then, we think il but
right and reasonable to require that the
state should signify its pleasure in some
specified time, and in some practicable
mode. Accordingly, The amendment,
which recognises The right Of the state 10
prevent the introduction Of a branch with
IN II, asks that this right should be ex-
ercised at some time during the period of
the first session Of the Legislature alter the
passage Of this act; and requires that lis
dissent. il il be opposed To the introduce
ton Of the branch, should be announced
IN unequiVocal and unconditional terms.
Is II unjust or improper, when. conceding
to the state such power, the amendment
requires that il should be exercised with
IN reasonable time! Without such q
the question Of the establish
ment Of branches within the states might
be an agitaIing question during the whole
period Of the twenty years Of the exist
ence Of the charter. With il. the quss-
ton must be definiliyely settled in less
than year from this time. Is il not a
great and sufficient concession from those
who do not think that any assent of the
states is necessary, to admit that every
one oil the twenty-six states NAV prevent
the introduction Of branch within il up-
on two conditions: LIST. That they dissent,
and, IDLY, dissent during the period Of
the first session of their respective Legis-
latures! Will any one say that the ques-
ton should remain an open and disturbing
question for the long space of twenty
years! Is ital all unreasonable TO require
that Il should be settled within the period
varies from two TO six months
-oi the first session Of the Legislature,
II may be objected that the amendment,
Presumes assent If the Legislature remain
silent, or does not assent Internationally
or dissent. But is it unusual to infer as
sent from silence! Is Il unreasonable 10
suppose that, il state cannot bring itself
II dissent to the Introduction of a branch,
the introduction Of a branch within lis
limits cannot be any very calamilous
event!
According to the amendment, there are
lour cases in which Offices Of discount and
deposit may be established. lst. Where
legislature, whose citizens have subscrib-
ed 1000 shares, require one. Cd. Where
Ia