Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-08-20
(Remdiader "a orr ns1s.J
Mondays Proceedings.

l..
The Senate were engaged in discussing some amend
ments to the Land Distribution bill, when message
WAS received from the Ptcsident of the u >
The Chair announced that the President had returned
the bill incorporate the subscribers to the Fiscal BANK
of the u s., with his objections thereto.
The bill before the Senate then laid aside, and
the message read by the Secretary of the Senate
MESSAGE
OF THE PRESIDENT OF THE UNITED STATES,
Returning with his objections, the bill TO incorpo
rate Fiscal Bank of the United States. August 10
14l.
To the Senate of the United States:
The bill entitled can act to incorporate the subscrl.
bers TO the Fiscal Bank of the United States, winch
originated in the Senate, has been considered by
with sincere desire to conform my action in regard
TO it, TO that Of the two Houses Of Congress BY the
Constitution il is made my Duty either To approve the
bill by signing it, to return it with my objections to
The House in which it originated. cannot conscien-
tiousy give it my APPROVAL and proceed to discharge
the duty required OF me BY the Consttutlon-to give
my reasons for disappearing.
The power of Congress TO create National Bank TO
operate per Sc the Union, has been question of
dispute from the origin Of our Government Men
most Justly and deservedly esteemed for their high IN
telecual endowments their virtue, and their patriot
ism, have in regard to ii, entertained different and
conflicting opinions. Congresses have differed The
approval Of one President has been followed by the dis
approval of another. The people at different times
have acquiesced in decisions both for and against The
country has been, and still is, deeply agtated by this
unsettled question II will suffice for me to say, tina,
my own opinion has been uniformly proclaimed 10 BE-
against the of any such power by this Govern
ment. On oil suitable occasions, during period oil
twenty -hve years. the opinions thus entertained have
been unreservedy expressed. declared IN the Lee
gslature of native State. In the House OF Repre-
senatves of the United States has been openly vim
dicated by me. In the Senate Chamber, in the pre-
sence and hearing of many who at this time men,
bers of that body, il has been affirmed and rearmed
speeches ADD reports there made and by votes there
-J.l II hav ~ ea RfInU y
announced il and in the last public declaration which
made and that but short time before the late Presl
Dental election, referred to previously expressed
opinions being those then enteralnedby me; with
full knowledge Of the opinions thus entertained, and
never concealed was elected by the people Vice Pres
dent of the United States By the occurrence OF con-
tpency provided for by the CONSTITUTIONS and arising
der an impressive dispensaon of Providence succeed
ed to the Presidential Office Before entering upon The
duties of that Office, took oath that would "pre-
serve protect and defend the Constitution of the U
s" Entertaining the opinions alluded to- and having
taken this oath, the Senate and the country will see
that could not give my sanction to measure OF the
character described, without surrenderug all claim to
the respect Of honorable men-all confidence on the
part Of the peope-all sef-respecta regard for mora
and religious obligations; without an observance OF
which, no Government can be prosperous, and no peo
pie can be happy. 1t would BE- 10 commit crime
which would not wilfuy commit to gain any earthly
reward, and which would justly subject me 10 the rldi
cule and scorn of all virtuous men.
deem il entirely unnecessary at this time to enter
upon the reasons which have brought my mind to
the convictions feel and entertain on this subject
They have been and over again repeated 1t some
of those who have preceded me in this high othce
have entertained and avowed different opinions, yield
all confidence that their convictions were sincere.
claim only to have the meted out to my.
self Without going further into the argument, will
say that, in looking to the powers of this Government
to collect, safely keep and disburse the public reve-
nue., and incidentally regulate the and
changes have not been able to satisfy myself that the
establishment by this Government of Bank of dscount
in the ordinary acceptaon Of that term was
nv means, or one demanded by propriety to execute
those powers. What can the local discounts of the
Bank have to do with the collecting safe keeping and
disbursine Of the revenues: So far as the dis
coun,ing Of paper is concerned it is quite mma,eral
10 this question whether the discount is obtained
State Bank or u S. Bank. They are both equally
local-both beginning and both ending in local
commodston. What influence have local discounts =,
granted by any form Of Bank in the regulating OF the
currency and the exchanges, Let the history of the
late u s. Bank aid US in answering this inquiry
For several years after the establishment of that IN
stution it dealt almost exclusively in local discounts;
and during that period the country was, for the most