, 1841-09-04
From the Globe
THE VETO.

| Message delivered 10 the Sena36 to-day, ana
now presented in our columns. We think
that it decides the question ola Bank in any
form for the present Presidential term, and
that the friends Of the Constitution may
celebrate this veto as they did that of Gene
! raj JACKSON, as a great deliversace from that
fatal system Of corruption which in the course
of time could not fail to make dollars, and
not votes, sovereign in this country.
The message, it will be se5s: confines the
functions of any fiscal sgeGss;; hic,s may be
established. TO the lsg;taSf-S i.SrFnse for
which alone Congress mas a fright 10 provide
in connection with the Trsosur,-for the
collecting, safe keeping and %disburslng the
public revenue. The PRESIDENT speaks a
volume in this: 81 uiH say that in looking
to The poucrs of the Government TO collect,
safely keep, and disbmse the public rerenue,
and incidentally TO regulate m and
exchanges, Ihdue not been able to satisfy my
self that the establishment by this Government
of a bank Of discount in The ordinary acccP
tdiion Of that term, ras n necessary means
or one demanded by propriety, 10 execute these
powerS." We understand the Incidental rrgu,
ldtion Of m and exchanges by the
operations of the Treasury. as meaning on
y that which necessarily follows the action
Of the Government in performing the Indis-
pensable duty of the Treasury Department
in relation TO the revenue, which ought, in
every way, to be accommodated TO ali thc
public interests in every point on whlchit
touches them. The message evidently would
confhe the faculties of the fiscal agent Of
the GoSeimen, to the direct objects of the
! anor,p,X . of tho (tpr arpp,apt pG (which ~
formed q part, and would not confer on it
any additional substantive power 10 regulate
commerce, and:exchanges, but would make
the Governments agency employed in lis w
specific duty, operate as advantageously rs
possible on those interests OF the community
most intimately allied with it, viz: the COM
merce and exchanges Of the Union.
In this the President directly reverses the
Federal scheme. A National Bank Of dis
count has for its principal object the creation
and the lending of Il national currency. 10y
which it would supersede the currency o:
the Constitution. And instead of making
the collecting, safe keeping and discussing
the public revenue the main scope Is ac-
ton, the raising Of revenue for IT, hold
ers out of the public revenues 10 as its
own capital. would apart from '1s) he
is great function. The safe
keeping, and disbursement, y
would be Il mere incident, - y
means on which il would operate
from its legitimate objects, 10 c
own. In a word, in making n Ma
10 do the simple business of coun and
counting out the public money, and then
surrendcring 10 it the power of taxation,
the faculty Of lending, and OF making the
money Of the nation by its issues. the nation
in effect surrenderS its sovereignty to have n
very trivial function performed for it-and
that taken out of the hands OF an ordinary
individual agent, every where found in all
ages and all countries perfectly competent
TO it. Federalism fulfls the cid saw about
extravaganza in this, as in other things-it
kills an OK 10 make sauce for Il pig.
There is another great point ..ined in the
scope to which President TYLER limits any
fiscal agency which may he established, by
combining it to the execution of legitimate
Government functions. He destroys the pos
sibility Of perpetuating any system which
may be adopted by Congress under the pre-
tend of "rcstcd rights" When an agency
is employed merely to collect, Keep, and dis
burse the public money, it cannot he preten-
ded that Congress, cannot change, modify, or
repeal at pleasure such fiscal machine, as cir
cumstances may vary, and experience prove
to be necessary We shall hear no marc OF
the Government or Department of the
Government, being contracted away to a
corporation, and bound to submit to the
abuses Of such 4 'chdytercd H5t;hine," for
twenty, or thirty, or fifty years, as those in
power for the time being may choose 10 bar
ter it, for the one or TIE other OF these terms.
Besides the political blessing, this veto
brings with it a moral, which we hope is
pregnant with blessings for the future. 1t
Furnishes home the most atrocious fraud ever
attempted upon a nation, General HARRisoN
and Nj. TYLER were selected as the candid
ates Of the Bank party, because, they were
the solemnly pledged opponents Of a Nation
al Bank on constitutional grounds. They
were known to be so to the whole Federal
party, and we're SO presented, for the votes
Of those opposed to the establishment OF Il
Bank, and when they had attained power in
part by the sufTrages Of those opposed 10 a
Bank, it is made manifest by Mr.. Glars bill,
that the whole representative body Of Fed.
eralism in CONGRESS, CONTEMPLATED the mon-