The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-10-12

not far distant from the great point Of Importation
where hangs up the barometer Of exchange"
Upon these grounds stood in 1897, have ever
stood, and there now stand. have not chenged a
particle IN principle upon the subject, shall |
change from the practical course which have here
tofore committed myself
In 1897, two practical questions or votes were put
TO me on this subject, and the action ! maintained
then mean to maintain now. What were these
votes, and what was that action The Committee Of
Ways and Means then reported resolution declaring
that y was inerpedient 10 establish National
Bank" To that resolution proposed the following
amendment-(S SEES Cong Debates vol. IA, part page
$500 ito add the words:
AT this time. And be IL further resoired that il
will be expedient to establish National Bank when-
erer there Is clear nestaion Of public sentiment
in. fapor Of such measure"
Upon this amendment, at a subsequent day. (see i'd
vol. IA, part 2, page 22l made these remarks:
The friends Of National Bank are mating for
me moptng 81 the matters they not ready To bring
forward their plans in positive form they hare
notion q standing up for e purpose Of being knocked
dorn."
| Again the same committee brough. forward its In
dependent Treasury bill and discussing that and this
subject together said
shall wait foe the troubling Of the matters, for
the healing Of the yrope, for their poices 10 up
as strong fox radical relief of the country its
Constitution, its currency its libery-ld page l674)
voted against both the resolution and the bill OF
the Committee of Ways and Means, in 1887 Neither
of these votes would undo If could, and by all the
declarations then made now abide.
| Now what did these declarations mean, and what
course for me TO pursue did they Indicate
| Sir, the 9th, 2Sth, and 29th days of January,
lS4l, for three days, ! spoke earnestly against this
called, this dog day session My third against
| il
To prerent, during the present year, premature
agitation IF The National Bank question" 4.e.-(Ses
! page 5, Of speech)
| At page 9Th said
Sir, yield to no man in friendship to properly
organized properly located, and well managed Nation
al Bank And, as aJriend to that measure, inveigh
especially against urging il premdtureiy, and in The
midst q pressure If you press it too eagerly, Tao
hastily at the ,orong time yoH lcH lose the question
| for teenfy years 10 come. Sir have no idea that
either of these shall be presented called
SESSION, and be pushed through in the hare hoe hurry
Of political juggling They all require time and re-
Fiction"
AT page 36 said:
CAS- TO the best mode Of giving to the country
safe sound and uniform currency, my opinions are
well known to those who know any thing about my
opinions at all. With Mr.. Madison, believe that
National Bank Is absolutely necessary and must, try
whatever experiments you please be resoIted to the
end believe such an institution not only constitu
tonal and expedlent, but as Southern man, and
State Rights man, support il the best friend 10 the
South, which Is more injured by bad currency than
any other section Of the county and the only
of creating hand Of the lar for the legislative de-
partment keep the legislative power Of the custody
and The control Of the public money out of the hands
| of the Executive. The Executive has usurpsd that
power by snatchng the public money from the vaults
| Of National Bank. l would create National Bank
for the purpose of restoring Congress its constu
tonal fiscal power, if for no other purpose. That is
of the best modes of reducing Executive patron
| age. But my views on this question were delivered
at length at the extra session of 1887. Now, will
only say that will vote for such institution if it
be brought forward at the right time, if 1t be properly
organized, and be located at the proper pIace-and
that proper place with will be far as can get it
from the concentrating and dangerous influences of
| stock jobbing and brokers'"
/ Here, then, my:opnions and my course, fully
set forth in advance. | will wait the moving and
the troubling of the watersp And what does that
mean Z Il means that the Bank a Bank is an "im-
potent man, whichhas had infrmity for more than
thirty and eight years; infrmity than lepro-
sy to any measure in this country, and especially to
one which depends upon any thing delicate
dit for its vitality and vigor-the infrmty of rani
of popular confidence"
For reason of that infirmty another and another
steppcth down before" it, though the angel" has
again and again come down into the pool and trou-
bled the water" 1t has no man, when the water is
troubled to put into the pool by the sheep MARKET
which called by the Hebrew tongue Bethesda hav-
ing five porches." And there is no Onnipotence
passing by to say not step thou down into the pool
| no Omnipotence never speaketh-bu Omnpoience
to say, Rise, take up thy bed and walk !" No, sir
no! But, passing by poor falble mortal, like the
sinner who now addresses himself TO this question,
would humbly initiate Divine goodness and wisdom,
not Divine power, by asking this impotent man,
" Wilt thou be made whoIe7" And supposing the
answer to be, I" would be made whole, would
swer, wait though you have been long time in this
case, lie yet longer time for the troubling Of the
water, for your Saviour to you lie in that case.
/ And who is that impoent mans Saviour2 Sir, the
People, The People alone can say unto this impo-
tent man, g Rise, take up thy bed and walk !" And
when that power bids him rise, Immediately he will
| ha 40 hall an.t aEan h hal ,Ixr a
it will matter not then whether on the day
the Sabbath" for then the question of time will not
occur, for nuLum tempus occurrH regi When the
People have settled the question, have healed the in
FIRMLY, then will there be reason for stepping into
the pool or for waiting until the troubling OF the wa
| ters
To drop all figures of speech, there is nothing in
which am frmer fixed in opinion now than that the
most essential element of National Bank is popular
confidence. On that it alone rest peace and
permanent security and based on that alone be
blessing TO the country and useful agent and fri nd
to the laws. 1t must not be forced into existence,
to produce party agitation and to popular
sentiment. Ii il Is thus driven into being by tempo.
rary majority, doubtful III its character the effects will
be more dangerous than sauary, and more To he de-
precated than desired, ny the friends Of such
| institution.
Ii this bill passes it be said 10 have passed by
the votes of majority of Congress There
vacancy 10 the Senate, and 1t is doubtful who that va
cancy would lie filled by-a friend or foe Two votes
were Withheld which were present in the city, which
il wns well known would have been given against the
9th section OF the bill withou, which Two other votes
could not have been carried Tor the bill. BY the alb
sence of thee haires of State suveelgnes, this bill
has been lodged, If not driven through one branch o
Congress Will the People be satisfied wit. this ex
| preston of the VIII Of the States
Again: two of the States of his Union
presented on this floor II all Gentlemen need not say
that there votes enough here pass the bill with
out their votes that The will of The States Is
fairly represented III the other end of the Capitol
All these elements of strife fuel for the
Iemoliinn Rrnpal Rpneuli Refeall | "a