Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-10-09


transfer OF toe public money from ohe point To-
another: and !, had. therefore, no necessary con-
nsIiun with any OF the great national objects for
winch he bank was chartered; nor could u be
elarnrd an incident To any oithe powers given
to Consres. by the Constitution That privilege.
he apprrhended VAS conferred upon the late bank
from The brlirl that without Il the stock Of the
bank could n,i be msis profitable; and n was
iherelue eOnsidsfrd necessary incident 10
an institution Which Sss Itself but the offspring Of
an Incidental power. Experience. he thought.
had shown clearly hat such prVhege was no
longer important ~ Necessary. BY e.n6nrnR the
dscoununs privilege ol The proposed bauk tn
bills " exchange between tn. country aud iorelgn
States, and between the several States Of hs
Un,ou, ,h,s objection would not lie sgansl u.
The President EXPRESSED his regret that he had
not used the words shank Of discount aud d.pos-
le" IN ms late Message, thai the Distinction be
now ok might be clearly inferred '-ou thst
message. and he could net he be chafgfl Nila
! Inconsistency. Mr. Badge sad ne thua.hi 10
| lhng Weaid have been gained 10y the Use of ihs
term, "bank OF dpcoun, and dspos,ie" IN his mes
sage, Eos, az to he charge OF inconsistency, II
might, aud probably woud, be made against him
to party Effect. It he sanotontd The bill then pro.
pn>ed by hin, iaasmuth "a dealing IA or buying
bill, eft exchange would be dscounllng, and 10
lha, extent make It bank OF discount.
When all the maleual points appeared to bs
Disposed Of and the members o. the cabinet pres.
ear had expressed hcit der,ded appreciation OF
,hs nl,n the p,e.,deu, had suggested he sand that,
,i,,, ull. he would not sanction bank in the
G,n inst agreed upon, # he supposed Tim, II
Uonli he made the Groundwork ar basl4 of a bank
with All thc powers of the late Bank Of the UNI.
tsd States. ls never wvuld rive his sanctIon 10
III, mower of local discount. lie feared that. a,
tho ,,yt ar succeeding .e,. ions Of c onotess. tAs
Nhg. would he bringing forward amendments
enarolnpg TIM. power upon any charter he might
) noy aoproye. aud he appealed To his Cabinet 10
know lflh,y would stand by hlm and use their
, ,,aos,r, ~ pr,yeDttnv any such movements
vh,lr h,, Administration lasted. Mr.. Webster
and orhpfs nnve han all ptoner a suranccs UPON
hi. MONT.
The preudcnt thought a capital of fifteen mil
h,u. of dollars would be sufficient.
A name. he sad, was important. What should
b,l Fiscal Institute would do. II WAS obiec.
ted 10. and the mime Of Fiscal Bank preferred by
} =, p,mbef of the Cabinet lie replied tina, there
wa. a gren, deal IN name. and ho DID no, wish
IN, wmd bank 10 appenr N the bill.
Tn. p,esid.nt Ihrn ,nou,red # he was ondet
.loud n. sad there nu., be no m,surders,an.
/ dino of wha, he mopos,d to do Addressing
/ h,m-rCto Mr. Ewing, he asked hun # h- thought
Il he understood hi, vIpws fully. MI Ewing IN.
q d,,,ouk in re,nprulate lie undrfstnnd m. Pre-
{ ,d,n, IA have no obiecilon 10 bank 10 the Dis.
t,c, ofC olnnnbn. wuh office. Of discount and de-
!, ,os,ls IN the States. with thelr assent, The Pie
H, s,aent ,nt.uuptsd h,m nbruptly by snyinp he d,J
{ moi understand hun at all: he was not Wiling 10
{ sanction any such bank. | understood his nbec
. tinn Ia he ln the mower of local discount | sup.
: no.cd MIR. Ewing intended to say tina, he pnder
stood The President had no constitutional obiec
,ions 10 such a bank. MrExms, however with
, on, explaining. went on 10 say, that he now under
stood The President to have no objection 10
bank IN the D.slrc, Of Columbia, with The powef
# 10 issue IT. own notes, receive moneys on depos
. ,,e with Offices or arencl,s IN the States having
/, tho n,,vd,o, without their assent. Of dealing m
II hlls nj .,chnnpe drawn IN one State or T,uloty
= and mad. pnysble IN another State. or Territory
y or in. Imam, and IN b,Ii. between The Und.d
,,.,.. and fo,eyn S,aI.s a, Nauous.
- The pr,.,d,nI ,oid he wa. then understood
4 IT, t,on..lsd Mr.. " ,bsrer pariIcula,ly 10 com
d ,,.,n,a ,.,th the oe,ttlpm,n who had ,va,,ed nm
Z 80, t,,, ,h,, ,po,n,r,. md ,,l,t ;b,m know ,be
II o,',f.Iu.,,o vl,cb h. had come. He rl,o =,
: oue,l,d Mt. Ewing to and ~ getting The subject
- n,one,ly before Conpre... He requested Tia,
,", ,wolJ rks cn,r mat +. commit h,m b, shar
o ,hey sad to member. Of Congress 70 any In,en
II Il Ii a. -u,h. nfll hs.