Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1841-07-05
NATIONAL. BANK.

NATIONAL BANK.
The c0mmiute to which was referred go much
of The Presidents Message rs relates TO a uniform
curreucy, and suitable fiscal agent capable Of
adding increased facilities il the collection, aud
disbursement, and security of the public revenue,
have had the same under consideration, and beg
leave TO report:
That after the most attentive and anxious con-
sidcraliUn of the state Of the currency, and The
finances Of the Government, in all their Interest,"
my and important bearings, the committee have
arrived at HE same conclusion with the Secretary
of the Treasury, that sound aud just policy re-
qnres The establishment OF Il Bunk of the United
States with ms little delay as practicable.
The committee have neither time nor inclina-
ton 10 eniei INTO discussion of The question Of
tie power Of Congress, under the Constitution Of
the United States, TO establish n ! aoual Bank.
After all that has been said and written on that
question during the long period of half century,
nothing remains 10 he added that would he likely
10 shed much new light Upon it. 1t ought,
| in the opinion OF Ike comtuillee, 10 he regarded
rs Il settled question settled by the appreciation
and Judgment of The People, hy the authority OF
HE legislature, by the sanction of the Executive
Department OF the Government, and by the SOL
emu adjudication of the judiciary. if it be not
regarded us decided question, when, IN the col
I'tisiOns ind conflicts among men, arising out of
diversity Of opinion aud Judgment, is conr0vert-
ed matter 10 bs considered us terminated aud q,ii-
eted ?
Nor 10 The committee deem !, necessary to dis
cuss the question of the eXpediency Of establish
ing such an institution rs "A Bank of the United
States. On this there is even less con;rariety OF
opinion than OH the former question. On both
II is the deliberate conviction Of the comm tee
that vast majority oil the People of the United
J, States concur; aud that they are now looking
r with anxious so!iciude, to the deliberations Of
$ Congress, under the Confident hope that Bank
. of The United States will be established nt The
k presen, extraordinary session of Congress.
u Passing by, therefore, those two questions as
g being Unnecessary to he further argued, and ms
l. sunlng, what the committee verify believe, tia
;, National Bank is indispensably necessary, they
will proceed, ut once, To The particular form, pow
u ers and faculties with Which il may he eApedien
s. 10 invest such an institution Aud here the com
Is hiee have no hesitation in saying that confrIlns
e III NE experience Of forty years. and during tn,
'e greater part Of which il has realized every rea
10 sonabe hope and expectation ia the operations o
n such an institution, they came to the conclusion
re that II would he wlseS TO dismiss all experiments
u and to cling to experience and assume the las
Df charter dby Congress the basis OF a nev
bank, ENGRAVING upon IT such restrictions, guaran
n, ties, amendments, aud conditions, as have beer
y found necessary by actual experience.
70 Tie Secreiury of the Treasury came 10 n sim
H. liar conclusion and in his report, and tho draugh
Of oil MI which accompanies il, he has taken ms hi
S mode tho charter granted by Congress in IL lf
ID On that he has suggested great many vauabl
Or improvements mos! of which the committee hay
i'll incorporated in the draugu of bill which The
err now report to the Senae. On this draught the
TX wish TO offer TO the Senate some brief explanu
Isl tons and observations.
lie The committee have adopted Washington cit,
OF proposed by the Secretary OF the Treasury as III
VI place of location of the principal bnnk. The
co believe the place OF It's location is a subordnai
. question; but there are many advantages from tn
Id pro ximity Of the Bank TO the Government. TIL