Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1841-09-11

ever glorious ExAMpLE.-Whai example? VIVA
other meaning could have been possibly applies
TO tho phrase, than that he intended TO refer {,
what had been done during the adminstrat ION Q
Jefferson, Madison, and mcnroe.
Entertaining this opinion OF the Address came
10 Washington, at the commencement Of the sas
sion, with the mos, confident and baoyan: hope.
that the Wings would be able to carry all the
prominent measures, and especially Bank Of thu
United States. by far that one Of the greatest i'm
mediate Importance. | anticipated nothing bu
cordial cooperation between the two department
Of Government; and | reflected with pleasure
that should find, at the head of the Executive
branch, personal and political friend, whom
bad long and intimately kuown, and highly es-
teemed. II will no; be my fau. il our anicable
relations should unhappIly cease, IN consequence
of any difference Of opinion between This
occasion The President has been always per
fectly familiar with my opinions on the bank cues.
ton.
Upon the opening of the session, but especial-
ly on tho receipt of plan Of a national bank, as
proposed by the Secretary of the Treasury, fears
were encited that the President had been misun-
derstood IN his Address, aud that be had not waig-
cd bui adhered to his constitutional scrupIes. In
der these circumstances il hoped that by the
indulgence Of n mutual spirit of compromise and
concession, bank, competent to fulfil the ezpec-
taions and satisfy the wants Of the People might
be established Under the influence Of that spi-
rt, the Senate and the House agreed, ist, TO
The na'no OF the proposed bank. confess, sir,
that there was something exceedingly outrcc and
revolving to my ears as tho term Fiscal Bank;'
but thought; ''Wlat is there in ainame? 4 rose,
by my other would smel! as sweet" Look
ing, therefore, rather TO the utility Of the fubstan-
tIai faculties than 10 the name of the c0ntenpa-
ted institution, we consented TO that which was
proposed.
%. As TO tho place of location of tho bank.
Although Washington had passed through my
pedent to place the bauk, it was believed to be {
The least eligible OF some four five other cities
Never iheless, we consented TO fix II here.
And lastly, IN respect to the branching power,
there was not probably solitary vote given in
either House Of Congress for tho bill that did
greatly prefer the unqualified branching power,
~ asserted in the charters OF the two former
banks Of tho United States, the 10Th fUndanen-
nj condition, as finally Incorporated IN this bill
= 10 perfectly manifest, therefore, that
rot IN conformity with the opinion Gad wish If
naJor!tes in Congress, bat 10 friendly spiri. Of
concession towards the President and, his par
lcuiar friends tha; The ciatse assumed this form.
go rcpuEnnni II TO Of tho best friends
If national bank IN the other House, that they
inaliy voted against the bill because 1t contained :
HAT compromise Of the branching power {
IL is true that, in presenting tho compromise to $
he Senate. | stated, WIS the fact, that did
ot know wholher it would be acceptable to the ;
President no.; that, according 10 my opinion, a
ach department Of tho Government should act s
pon It's own respons ibiiiIy, ind pendent Of the
!hcr; and that presented the modification Of :
he branching power because il was necessary TO q
insure the passage of the bill IN the Senate hav {
1g ascertaIned that the would stand % a t
ninst i, 10 p, If the form Of that power which |
ad been reported by the committee persIs- +
ed in. But nevertheless did entertain the mos, r
onfient hopes end expectations that the bill
-oud receive the sanction Of the President; aud a
bis motive. although no: the immediate one, had {
rcR, weight in the Introduction and adoption Of !,
le compromise clause. knew that our friends .
ho would not vote for the bill reported were !,
etua:ed, they avowed, by considerations of u !,
ion and harmony, growing ou, of supposed views y
the President, and presumed that he would +
ut fail TO feel and appreciate their sacrifices. +!
~ deeply rcgro, tia; we wero mistaken. Not. h
outstanding all our concessions, made in gen .
inc and sincere spirit of coucilia ton, the sane =
on Of the President could not he obtained and :,
lie bill has been returned by him with his obiec- /;
oHs.
And shall row proceed to consider those OBJ =
ctions, with rs much breYiiy rs possible, but d
ith the most perfect respect. officially and per- J
nal, towards The Chief Magistrate. =
After stating that the power CT Congress to os. c,
hiish q national bank, to operate per Sc, has a
zen controvortcd question from the origin Of c
c Government, the President remarks MEN S
ost ils;iy and deserv eddy esteemed for their d
gh intellectual endowments, their virtue and Al
cir patriotism, have in regard TO IT, entertain b
lllIarcn. and conflicting opinions Congresses a
We differed. The opprova! Of ono President p,
$ been followed BY The disaPProval ogano'her." So
From the Statement, of the case il may : in ?
rred that the Presiden, considers the weight Of b,
lhoTIty, pro md con, be equal and balanced. re
II if he intonded 70 make such an array of it II
he intended 10 say that 1t was an equilibrium oi
mus, respectfully, bu, mos; decidedly dissent OF
om him. i think the conioins testimony ofhis q
~, tradition, and the knowledge of living wi, ec
ssses prove The contrary. How stands the 81
Ies,ion as to The opinion Of Congressea2-
be Congress OF 1871. the Congress Of III
'l3-lI, the Congress OF lSIo-i0. the Con 10
ess Of 1912, and finally, the present in
ongress. have all res poc;ively and unequivoca- =
, affirmed the existence Of power in Con- 3,
ess to establish National Bank TO operate per N