The Madisonian. [volume] (Washington City [D.C.]) 1837-1845, 1841-08-21
dressed large assemble. in New Yor4 and else.


where. and no where did he hear National
Bank once alluded to. As late as October, 1910,
General Harrison had declared before an inn
mense assembly at Dayton, Ohio that, in his
opinion, there was no express grant of power in
the Constitution to charter such a bank In
regard to the ever glorious example of the fathers
of the Republican school, to which the Presi-
dent had expressed willingness to conform,
Mr.. r. pronounced Mr.. jefferson to be the prime
leader Of that party, and he quoted Mr.. Clay's
speech Of 1911, to refute his present declaration
that Mr.. Jefferson had sanctioned a bank Mr..
Clay, at that time, said: ~.
Gentlemen contend that the construction which
they give to the Constitution has been acquesced in
by all parties and under all administrations and they
rely particularly act which passed in 1904, for
extending branch to New Orleans, and another act
of 1907 for furnishing those who should forge utter
forged paper of the Bank. With regard to the first
law, passed no doubt upon the recommendation of
the Treasury Department would remark, that it
was the extension of a branch to Territory over
which Congress possesses power Of legislation almost
uncontrolled, and where, without any constitutional
impeachment charters Of incorporation may be granted
As to the other act was passed less for the ben
eft Of the community than the Bank-to protect the
ignorant and unwary from counterfeit paper, purpor-
ing to have been emitted by the Bank When gentle
men are claiming the advantage supposed to be de-
ducibe from acquiescence, let me inquire what they
would have had those to have done who believed the
establishment of the Bank an encroachment upon
State rights'"
Thus Mr.. Clay answered his own argument,
so far as Mr.. Jefferson is concerned. AS to Mr..
Madison, his position was very different from
the circumstances under which Mr.. Tyler is
placed. In 1871, he made an able argument
against the constitutionality of Bank, and pre-
pared, by request a veto of the Bank at that
time chartered, for President Washington he
vetoed Bank bill in 1915, and when he finally
consented to sign such bill in 1917, the posi-
ton he occupied, was such as he afterwards ex-
planned, in letter to Mr.. Ingersoll, in the fol-
lowing words: ......
1T 1.-THE bank act had been carried into execution,
throughout period of twenty years. with annual le-
gslative recognitons; in one instance indeed, with
positive ramifcation of it into State, and with
the entire acquescence Of all the local authorities
well the nation at large; to all of which may be
added, decreasing prospect Of any change in the
public opinion adverse to the consttuonalty of such
an institution"
The position of President Tyler is different.
The nalon is certainly divided on the question,
and many of the local authorities are in open
arms against the Bank, and transmitting their
circumstances to Congress, and the prospect of
a change in public opinion Favorable to the con-
stitutionaity of such an institution is apparently
decreasing. The cry Of repeal is every where
raised, and the measure ITSELF was in minority
in the Senate-an old fashioned National Bank
cannot now pass that body.
Mr.. RIvEs repealed the idea that the Presi-
dent, could have for a moment thought of the
course intimated by the Senator from Kentucky
that he might, without violence to his con-
science, have permitted the bill to become law
without his signature, by the lapse of the ten
days prescribed by the Constitution. Mr.. Ty-
Ter was not the man to skulk from responsibility
He had sworn to "preserve, protect, and de-
fend" the Constitution of the United States
was he to become an accessory to the crime Of
its violation, by folding his arms and permitting
an act which it was in his power, as it was his
sworn duty to prevent? He took the response
bility like man, and discharged his duty con-
scientiousy and honestly. The Senator from
Kentucky thought the President looked too
much into his own heart, and not enough to the
public good. Mr. Tyler is as ambitious as any
man of an honest fame, and he had no doubt he
found in his heart, no other motive, but desire
to discharge his duty rightly and faithfully be-
fore God and his country without any fear of
consequences personal to himself.
With all due Difference to the Senator from
Kentucky, who, Mr.. Rives said, had exhorted
his friends to 60 on and make Bank of the
United States, he hoped no such further effort
would be made at the present session. 1t was
great and important matter, and ought not to
he made party measure. The country was
deeply interested, and he referred 10 the views
of Gallatin and Appleton, as intoxicating caution
and deliberation in the creation of Federal in
slitution having reference to the finances. He
was wearied and worn out by these dog-day ses-
sions, and hoped that the whole subject would
20 over to the next session, unless ii be thought
essential to pass some temporary act. The re-
representatives. would in the mean time, have an
opportunity to minge with their constituents,
and come back in the cool weather of winter,
better prepared for action than they seemed to be
now. But if they can reconcile conflicting OPT
Mons, and report such bill as he could consci-
entiously support, it should readily receive his
vote.
Mr.. CLAY rejoined in second speech, which,
before its conclusion, became unusually impas-
stoned. There were passages in it Of great pow
er and eloquence In others, unfortunately, we
think, he used language of much severity and