Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-31

was no sure footing on that ground. 1t was-l
1.-THE great Serbonan bog, -
Where armies whole have sunk"
"The question, therefore," said he, ais not
what lawyer shall tell me may, do, but what
wisdom, prudence, reason, tell me ought to do.
What avails the strictness Of my legal title, III
by its assertion lose my suit" These, indeed
were words OF soberness and truth. trust they
may be better needed now than they were them
commend them to the reflection Of patriots and
statesmen. ,........ ..-.. ........., H.. ......
MIR. RIvEs said there was another profound
and important truth-in especial harmony with
the genius Of American institutions-taught by
the wisdom Of the same great philosopher and
statesman, which, he trusted, honorable Senators
would pardon him for recalling to their recol-
lection. 1t was this-thtt ''the constant aim Of
every wise public council ought TO be to find out
| by cautious experiments, by cool and rational
endeavors, with ho,U liHle not how much" power,
governments could be conducted, and the affairs
Of nations be administered. Why, therefore,
assert the disputed power OF Congress in this
instance, admitting it to exist, till experience
shall have shown it to be necessary for the sue.
cessful operation Of the measure proposed? The
honorable Senator from Kentucky, well recol-
lect, said Mr.. Rives, with that impressive and
stirring eloquence which so emnently dstin.
cuisines him above other men, used to reproach
his political opponents, during the administration
Of Gen. Jackson, with their fond assertion OF
power-ever intent, as he said, on the exercise
Of poacer, poucer, memorable po,cer. trust, sir
we shall not fall into the same error The dis
tnguished Senator from Kentucky also had the
privilege, denied to most Of us. having heard from
the lips Of that true.hearted Republican patriot,
(Geerge Clinton who then filled the chair you
now occupy, Mr.. President, the memorable
words with which he accompanied his casting
vote against the bill for renewing the charter OF
the Bank Of the United States in 1911 The
nation caught them as they fell, and has cherished
them since as the oracles of wisdom. "In the
course Of long life" said he, 81 have found
that government is not 10 be strengthened by the
assumption Of doubtful powers but by wise
and energetic execution Of those which are in.
coneStible; the former never fails to produce sus
picion and dstrust, whilst the latter inspires re-
spect and confidence
My firm conviction, said Mr.. Rives, is, that If
the institution now proposed to be created, shall
be planted on the "iaconteSible" ground sug.
gested by the Secretary Of the Treasury, sustained
and lostered by the assent and good will of the
States, it will be far stronger and more efficient
10 every useful end, than if it be borne along by
the strong arm Of the General Government,
thrusng it upon the States without their consent,
and in despite of their objections A proceeding
of this sort necessarily begets opposition. A
party war will be commenced upon it at the
Threshold, aud its whole existence will be one
OF agitation and contest. On the contrary, If
you refer the establishment OF branches 10 the
assent OF the States, within whose limits they are
to be placed, they will not merely be admitted,
but they will be invited, whenever the public
interest shall call for them. You disarm at once
the jealouses Of State sovereignty. You place
your institution under the safeguard OF State
honor, and under that moral protection OF public
sentiment which is lar more powerful than the
stern mandate Of the law. If any of the States
should withhold their assent from the establish.
ment OF Offices Of discount and deposit, where |
they may be deemed necessary for the purposes |
Of the institution, the amendment have offered |
contains an alternative provision for the estab- |
llshment OF limited agencies, which would meet
the chief exigencies Of the public service and the |
leading commercial wants of the Union, and
which, under a recent decision of the Supreme
Court OF the United States, Tin the case OF the
Bank OF Augusta Us. Earle,) might be established
in the States without formal act OF consent on
their part. their assent being presumed. (ill the
contrary is declared, from the general comfy OF
nations.
With these provisions, adapted to every prob.
able contingency | feel persuaded, said Mr.
Rives, that the proposed institution would work
well-smoothly, tremendously, efficiently. II
am far from placing any poor opinions of mine
in competition with the sagacity and experience
OF the Senator from Kentucky; but, like himself
have conferred with some able, practical men,
and they give me assurance Of its feasibility and
success. The Secretary OF the Treasury too,
whose special province it is to collect nforma
ton on these subjects from the most approved
sources, and to frame his plans with caution and
care, has, in his official presentation OF the plan
contemplated by the amendment, given us every
reasonable warrant, in advance, OF its capacity
to meet the wants Of the Government and the
country
Mr. Rives said the history of the two former
Banks OF the United States ought TO be full of in
struction 10 US, and suggests some important re.
Elections for our guidance on the present occasion
do not now mean to inquire into the true meas
ure of the benefits they may have rendered the
country. In this respect, | should be found to
differ from some OF my honor able friends on this
side OF the House, especially as to the last Bank
of the United States, which believe was the au.
thor of full as much evil as good 10 the nation
But, admit their benefits to the public to have been
as great as their warmest champions have, at any
time, clamed for them yet one fact remains, in.
conestibly established by the history of the coun
try. Both of them, at the expiration of their char.
lers, went down amid storm Of public odium
and indignation, sinking millions Of the national
capital in the convusive struggles OF their dssolu-
tion and obiterating for time every sense of the
benefits they may have rendered to the country,