The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-10


Of National Bank, brough, forward to sustain IT.
statement is produced, from what source | know
not nor i. II my purpose 10 question ia any manner
The reslectablly OF H. that Mr.. Jefferson, IN con
versatlon with Mr.. w. A. Burwel, OF virginia, -
the spring OF 1911 after the refusal Of oohsss "
rechaIler The first Bank IT, s., declared thal nc ~.
sdered The question OF its consliiulionaiiy a.
been dtanitireiy settled Now slr, ihe Fupi'snaeu
writings OF MIR. Jefferson show that thiee yos ~
that time he did indeed consider ihe ques,,os, - ~
49, I'M, - s.,,Iad AGAINST its consttutIonaiity. In
letter 10 Mr. Eppes, dated the ON VOW 1910 nc
uses this emphatic language AFTER 'he so1e",A ae
,ion Of Congress against the renewal OF the chafef
~ H. Rank Of the United States, and the grounds
II M, decision (the rant Of constitutional PoHer,)
had imagined that question al resi-, and that no more
nnIirao5s would be made 10 them for the incorpora-
ton of Banks -
,nestion has received different decisions, al the
hands Of the people and their representatives, al
different times and IT probably gives rise to as much
difference of opinion at tins as al any former Pefiod o.
our history lf has been settled one way al one the
has been settled another way al another Time ine TO
suit Of which is that il is yet an unsettled ana open
question and Will, probably ever remain SO, IN we
lublc Judgment. | will not undertake 10 say o'
which side Of il a majority OF the nation are AZ lhis
moment All must admit that very large ana patf,
mic norton OF the nation (probably moeiy at east)
vet maintain the negative In this divided ana nicely
balanced state of public opinion, on fundamental
question of poper and one too when mas never la.u
10 exc IL profound sensation through the mass OF the
people is it the part of true policy aud wisdom TO
avoid the disputed question, when the same practical
results can be attained in the mode proposed NY the
Secretary ofthe Treasury would appeal TO honorable
gentlemen this side Of the House and ask y they
IRE not willing show much consideration Tor the
honest and conscientious convictions oil large pouy
Of their fellow citizens in regard 10 the sacred bounua
ries OF the Constitution, as they have shown IN the
case of the Northeastern Boundary to the shallow and
uniounded claims OF foreign power IN regard 10 the
limits of the national domain, by abstaining from the
disputed territory.
MIR RrvEs said that in our very origin as nation
in the history of that great struggle which had disso
we'd the BRUSH Empire-we had monitory lesson o.
the danger OF extreme assertions of power which
ought not to be forgo ten. That glorious and ever
nenoi bic contest had arisen the abstract night OF
the British Parliament 10 tax the colonies lrtthoht
their consent Solong the colonies were permitted
themselves, in the joyous pride and voluntary
generosity OF freemen they poured out their treasure,
with unstlnted abundance into The lap OF the mother
country But, in evil hour, the scheme was conceived
of taxing them without their consent. The dignity
Of the cr0un and the honor Of Parliament" was
said required the assertion Of The poper The stamp
act was passed, and repealed Port duties, as they
We're called, then imposed; but the colonies,
planting themselves on the imperlshable principle OF
British liberty (the free con ent of the people, tho
their representatives. to the imposition OF taxes) re-
monstraled, and again prevailed. VI the SIX port
duties which had been imposed by Parliament, all
repealed except the miserable duty OF three pence
pound on tea and that continued, not for rer-
enue for it yielded none, but assertion Of he
Legislature supremacy of the British Parliament over
the colonies " 1t was by such management as this,
in the magnificent language of Burke, "by the ire
sisble operation OF feeble councils that patry a
three peace in the eyes of inancler SO lnsig
nificant an article in the eyes OF philosopher,
shook and finally dissolved the pillars OF commercial
empire that crcled the whole globe
Shall we f,llow Ill fatrd N examDle and insist
the poner of establishing branches OF the proposed
Fiscal Bank within the limits of the States, lcihout
their assent assertion of the legislative supre-
macy Of Congress when there is believe that
every practicable object be obtained without such
assertion? Will gentlemen permit me to commend 10
them the example and the language of the great man,
whose name have Just mentioned, in the similar cir
cumslances in which he was placed. Like themselves,
in regard the power Congress to establish branches
fthe proposed Bank in the States, without their
sen, he held, in the most unqualified manner the
abstract right of the British Parliament TO tax the
lonies. AS member of the Rockingham adminstra-
ton he had concurred fully in the declaratory act
which affirmed that right. But when it to the
question of carrying the power in practice against
the circumstances of the colonies he opposed it with
all the mighty weight of his eloquence and wisdom
he said he resolved that day TO have nothing TO do
with the right OF taxation-it was less than nothing
in his consdeIaon-he looked to the policy of the
queson-to practical results On the question of the
right of taxation Gas in this country, the question
1.-THE constitutional power of Congress to Ma
tonal Bank he found opinions divided and perpex ed
great names initiate against each other in that field
high and reverend authorities lift up their heads on
ground. il was