The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-13
WHOLE NO. 673.

binary powers Of Bank, ercepfing discount
ing, and il il be lawful CONSTITUTIONAL TO create
such agencies, why may there not be added the
power also 10 discount, if Congress deem that
proper power TO be conferred on the Bank
Can II be seriously contended that, under the
name OF an agency, Congress can constitutions
ally make Bank, having all the essential powers
OF Bank except one, and yet can not add that
power also2 They may make constitutional
BANK " Is sand, for every purpose, except that
OF dlsconntng and, as TO that, they are prohi-
6Ited. they can establish an agency in every
state, without It's assent, 10 deal in all things
connected with banking purposes,-such as bull
hon. gold and silver its own notes, deposits, bills
OF exchange &c. &c, and yet cannot authorize
the Bank TO discount a note, unless the State
consents TO il. Is there any thing in the dis
counting Of paper which renders the authority
OF Congress over II unconstitutional Can
they empower the Bank TO deal in bills of ex-
change, and not IN promlssory notes? Where
IS this distinction TO be found in the Constitu-
ton? Or how can it exist in reference TO the
subject TO which il is applied? If the power of
Congress to establish agencies as being necessa
ry and proper TO the execution Of its other pow
ers, exists, the same power, for the same pur-
poses, must extend 10 the establishment Of Of
fices OF discount. IL seems to me impossible TO
separate them, and that the admission that the
one Is conferred, is also an admission that the
other is likewise conferred
| do not deem it necessary TO add any thing
further on this question: of the power of Con.
gress TO create Bank, with offices of discount
and deposit for think il is implicitly admitted
by the advocates of that part of The amendment
which relates TO agencies and BY those who sup
pose that Bank whose operations are not con
hned to the District Of Columbia can be created
Notwithstanding the proposition 10 require the
assent OF The Legislature OF State, is a prac-
teal denial of the power. | think, also that
the decisions of the Supreme Court have put
the point at rest and that it ought not to be dis
turbed. In addition to this the main stress of
the argument in favor of the amendment has
been placed upon the ground of erpediency, not
OF unconstltutlonality and propose now TO ex-
anime that branch OF the argument, and to en-
deavor 10 show that il has no stronger founda-
ton on which TO rest, than that of the long ex-
ploded and buried doctrine of the unconstitu
tonality Of Bank Of the United States
z Is 1t expeden for the Senate now, under
exiting circumstances In this stage OF their pro
ceedlngs, 10 insert clause that the Legislature
Of State shall assent 10 the establishment of
an office of discount and deposit within It's ter.
ritorla limits In my Judgment, it is exp, d.
ent now, not only TO assert, but 10 exercise the
power 10 establish such tffices, without re-
quiring the proposed assent: propose to give
the reasons for this opinion, after first consider
ing the grounds of expediency which have been
urged In favor OF restricting the power to the
assent of the States.
And it is supposed, that by yielding this dis
puted point, we shall sooner have Bank incor-
poraed. That il may be, that without the adop-
ton OF this amendment, the bill will not meet
the appreciation of the other branch Of the I.e-
gislatlve department OF the Government, or pos
slbly may not find favor in another quarter. and
that the country requires, demands, a Bank
that il has spoken on this subject in unequvocal
language, which cannot be mistaken-that il ex-
poets one speedily--and that no unessential
provision should be insisted on which may i'm
pede or prevent its immediate creation
And who, Mr.. President speaks with author
iy on this subject or who, if he could ought
to speak with such authority? Who knows
what are the views and opinions of the other
branch of Congress, or Of the Executives How
do we know what will, and what will not be ia
vorably received elsewhere Who is empow |
cred to rise in his place, IN this chanuv,, u"a
urge the adoption Of this amendment, on the /
ground that il we do not accept of this, we shall
certainly loose all 2 No such authority is claimed,
none such has been stated On the contrary,
II has been expressly dsclamed.
But, sir, what have we to do with the opinions
of others-of those who compose branch Of the
Legislative department, sitting at the other end
of this building, or of the high functionary who
may be required to examine and act upon this |
great measure? Who are we, and what are |
our duties We are the American Senate-an
independent branch of the Congress of the Uni |
ted States. We are sent here to consult toge-
ther and TO act for the honor and interests of
our common country, TO maintain her rights 10
promote her welfare. la the measures may
be called 10 consider, we are to bring 10 our aid
our patriotism, our knowledge, our experience.
W G are to obtain all such information as NAV |
lead to correct and useful results We are to
perform our constitutional duties under all the |
responsibilities which rest upon US, and under |
deep sense OF the importance OF those duties. |
We are to ask no counsel of our fears, In form
ing our opinions, or casting our votes, we are
not TO inquire in advance what the views OF
others who may be called to express their opin- |
IONS We have nothing to do with the remote |
consequences OF our acts when satisfied that |
duty requires their performance. We are to as
certain what duty demands, and f9arlesslv and
resouely 10 discharge IT, Having once entered
upon that path, we should walk in it, without
turning either to the right hand or TO the left,
and then, come what may, we need not fear the
upbraidlngs Of conscience, nor the denuncaions
OF the viruous. To others must be left their
share OF responsibility When they are called
10 act, they must, and doubtless will, act I'M
der the same weight Of the importance of their
dutles as rests upon US. We are not TO go eli |
ther to a legislative hail. or an Executive man |
sion to learn what will be acceptable there. The |
time has not yet come when the Senate of the |
United States will be called upon TO bow TO any
such implied dictaton. No, sir, no. We have |
not been asked and shall not be, to conform our
opinions TO the views of those who may hereaf- |
ter be called 10 act on the subject, under equal
responsibilities with ourselves. We do not even |
know what their opinions are shall vote I'M
influenced by any supposed embarrassments
which may possibly arse elsewhere, and the
spirit Of independence which has characterized
the ancient, honorable, intelligent, and patriotic
Commonwealth which has given me this seat of