Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-07-27

urc Of assent been thrown in to sweecn the bitter dose
oi 'encroac hment and toa! want of sconstitutionn
y, which VIII mark the establishment of Distric,
Baak and State branches:
ffrcm he ErqHirer # Jan. ID isliJ
u Hh,P The i.rti r0aaG the stamy-Prc.stRs
"ihe following sage idea is preached By that miracle
nf wisdnm, the Alexandria Gazette.
iirra rar'r !" i" many ulsa nt gcpscse
ts"- WHO age desir"l- 81 renewing The lauS .
The T. 3 h WI" doubt The constitutional power ~ Cnngres 10
.1ih my 'Ern IN HE District Of Columbia.
sensible than himself If lie Injury that would su, 10 re ua
fully hn-elf he Of the expismcy If rcnein" The
aef; hi nc ''" was iy convinced Of lis
away such scnres " Nh Bank be Distrir, Of
Tue n y" Government where undoubtedly ought
be- ne h"ther ank "n th place, branches in
The different r n, rifles in proportion conrrca i'm
Of such places National bank ought 10 s mcn h and export.
nentction and coiiiol Of the t;0vernmcnin
$50 do aiody the constitutional scrupes lei Rank he
established in The District Of Columbia from which a.
from mother branches shoot forth 10 the different
principal cities in the U. y! In what wav are tLsu
to be estabshed' If they to be put IN Iy the d.
rectors themselves without any authority from their
charter they are like many banks not chartered bv
the State-their very being will hang on the CONN.,
vance of the States in their encroachments-and in
Virginia aud every State where private banks are pu,
down by the law, these branches will dare to shew
their heads.
.But it, the other hand the establishment of these
shoots to be recognised by their charter how absurd
is the proposition! What right has Congress TO esta-
blish branches the States' Congress has under the
Constitution exclusive jurisdiction over the 10
miles square-1hey in that light the ordinary
Legislature Of the dstrict-they may grant charters,
incorporate canal companies, bridge companies, &c
They may set up Bank for the local purposes Of
the district; but by what right do they 'travel out
of the record" They caunot pass beyond the ma
gc line of the 10 mile square; their charters, to
all n,cnts and purposes lose their constitutional
ali tha m thou loan hat limo The If
incorporation not national, but local oneIt flows
from the idea that Congress the local Legislature of
Columbia, and not from lis august character Of the
council Ct the nation
"Does il silence the scruplcs of the friends of the
Constitution, that yon call the Bank Of the District OF
Columbia, the mother Bank, instead of the branch
Bank: "a rose, if called by any other name, will
smell as sweet" This is mere form, dispute about
names. The spirit and of the thing IS still the
same. The mother Bank is no,c at Philadelphia, and
lis branches scattered over the Union-by the
charter SIT lawful for the directors to establish Offices
of discount and deposit wheesoevcr they shall see fit
within the United States
"And how would il be under this sagacious pan?-
The nominal mother would be in Washing ton-the Of
fees, 'chcres0erer the directors shall it But the
number OF Banks; the same distribution Of capital
the same sort Of influence would remain Il II is inn
possible not 10 be struck with the slight value which
the fcdealsts set upon the Constitution, when they
thus seriously talk Of irittering it away by mere
ing the game with the Federaitsis-and only covering
subtle proposition under sophism equally subtle and
unsatisfactory How astonishing the Revolution,
which has been wrought That Mr.. Rives who once
prided himself his State Rights principles, should
now seek 10 "fritter away the Constitution by mere
names and forms
The dea that the Seat of Government is the best
site for National Bank, is a mere quibbe-and worse
than tint. As MIR. Buchanan proves his abe speech
(Which shall publish Friday the District is the
nla L.. 4,
only Directors too, three Of these to be appointed
by the Executive Of Tie L. 5, and all of them to be
basking constantly under his eye. 1t will not be n
commercial bank, managed by competent inanclers,
by merchants in business; and thoroughly familiar with
the laws and courses of Exchange-but by pnl;-
clans; and degenerate into political machine;
the worst of all machines for Repuhllc-unitns into
unhoy mass the elements money, Executive power,
and political intrigue.
But Objectionable as such monster is the score
of cxped ency-aarming as til from the power which
it will WELD the politics, and markets Of the
whole country, it is still liable 10 the fatal
objection Of unconsuonaity. The pretended
sent oft States is only fraud to evade the principles
ofthe constitution. But this not all The pretext which
IS founded On the exclusive legislation in this District
furnishes precedent by which Thousand i'll examples
ma rush upon the State We have often stated such
objections ourselves, that prefer drawing upon
other funds for fresh arguments We therefore borrow
the following illustrations from Mr.. Gouge I'd No. Of
his excellent journal Of Banking, now published sent
weekly at Philade phia 10 p fa - 80 year, or
s. Tor four copies:
Mr.. E~ing's Gank.
sI,s existence, corporation, Is TO continue Tor
twenty years. with power 10 lis corporate name ior
two years inager in settling up its affairs
This plan proposes 10 involve the United states IN
dsb; Of from six to fourteen mons at n time when
IS asserted that the ordinary revenue IL insufficient
d meet The ordinary expenses. In one contingency,
proposes TO add to the amount Of State debts, al
though many Of the States are unable TO pay the IN
,ercsi on debts already incurred.
AT complexities the affairs OF the Stale governments,
ard the United States Government, in manner never
contemplated by the trainers of the Constitution.
81, establishes political Bank, and of all kinds OF
Banks political Banks are the worst Government az
re.tors mol being directly responsible 10 the slocSoa
e- careless generally speaking, for the interest OF The
,;,nt;on which they CONTROL than for their inter-
es, With two government directors at Washington,
and in each State politicians of the party that hap
pens u be uppermost, may expect TO oe amply accom-
modated but the interests OF merchants WIN De seco
dary consideration, ana lhose Vi Tue stoe-'"o "
be hardly regarded Ut all.
..Tbe constitutional objections to a National BANK
are not removed by this plan In requiring ,he assent
ofthe States to the admission Of branches w'nh 'he'i
hounds tacity admits that the Constitution aots NOT
confar on Congress- the power to establish banking IN.
,,,,,;ons in the States without their assent But II
,,o,iJes for an enlargement Of the power OF Tue y. d
Goyernment in 4 manner unknown TO the oohsttuloh'
The ncrection Of Republican Government consists IN
securing the rights of the minority the OBJECT the
trainers of the Constitution sought 10 auah, W s'S
,h .aaker States an equal representation IN the senate
with the stronger, and by providing that amendments
to the Constitution shall require the concurrence OF two
ib,ds Of both Houses Of Congress, and that OF the Le-
rslatures of three -iourths of the States
uOu this plan, however, the powers OF Tue ueneia'
con.roment may be greatly enlarged by the concur
1 rose of bare ory of both Houses of Congress-
and ha. of the legislators of less than onc-lai OF
the States c,.,oo p;nh,s mon who
.;,,p his nlan their countrnance, have consider
nave IN all its bearings Admit The principles on
which il is founded, and the District OF Columbia De-
comes mere fortress for the invasion OF State Rights
TIVE COMPROMISE!
The Fog still ho.els over the horizon OF Washing, ing,
Ton Some of the Wings confident indeed that
thew will be able to hit upon some compromise, wheh
Will please both Messrs Clay and ly'ef-paSs o".n
rocaiva he Executive signature. we |