Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1841-03-04

page 1.e ron68rn-t. ard accommodate ihe wants. of
u.e rrigrn. through uo Union. II the operation 81
t-c state Banks cannot produce he result the proba
t.e operation of National Bank Will merit considcra-
ilan aDd Of neither 81 thrsc cipcdtcnis be- deemed 81
lc.ua NAV he necessary o. crain iAo terms upon
which c of thc Government Goo longer required
% lusirumcut 81 ctcdu) shall hc ISSUED upon mo-
t,os uf general policy, as common medium Of oitcu
lstIar
Ta,, portion Of Mr Madison message was referred
90 select romniucc of which John { Calhoun was
TIE chairman GA thc -ii nf January. lNlG. MI Cal
boom rr.rcd a till fut National Back which passed
H0fl lsascs o Congress thc some session and rcCcv
o. 'c signature of Prc>ideu, Madison Two thirds Of
those Whu voted iof Zoe t"-,hsucr Of tie bank were
tHc political fnopds of Jefferson and Madison Did
uc, forget Mr jefferson and trampic his doctrines IA
i., dasj when they voted for the b.
Mr. Madison 30 his next annual message TO Con-
crc-, after ihc Bank had been rcrhartored his sug
les,au and hy the votes OF has friends spoke Of II as
follows We quote from his las, message dated 80
December, $50
i is obvious that there only wanting 10 the fiscal
prosperity of the government the restoration OF an uni
form medium OF exchange. The resources and faith
oi The nation displayed ~ the system which Congress
has established, respect and confidence at home
and abroad. The local Accommodations OF the revenue
have already enabled the treasury meet the public
engagements 40 the local currency OF most of the States
and IT Is expected HAT the same cause viii produce the
same effect throughout the Union. Ba for The inter
cSts of The community az large, iCsH az for he tUrpo
u The Treasure. IS essential that the nation shoid
yof'tfs currency Of cY ralie crtdH 0"d "Sf' "hrr
crcr Il may circulate. The Constitution has entrusted
Congress crciirciV. rih The p0,cer Of creating and
regulating currency N that description, and the
taken during The last session CiCcufon of The
p3ircr, gre crerV promise Of The Bank Of
The Igit,d States has been organised undcr auspices The
most acorac, and cannot fat 10 be important dur
iAdrV 10 those measures
These were Mir Madisons opinions. Now let us
SEQ what General Jackson thought about a National
Bank, and ascertain il whether be too will
ing to forget Mr. Jefferson, and trample his doctrines
10 the dust by establishing such an institution
Erfract from General Jacisons first Message 10 Con-
gross.
II such All institution is deemed essential TO the fs-
cal operations Of the Government, submit to the wis
dom OF the Legislature whether National One found
ed on the credit of the Government and its revenues,
might not be devised which would avoid all consu-
tonal difficulties, and at the time all the
advantages to the Government and me country that
expected to result from the present bank
Extract from General Jacksons SECOND annual Message
Ia the spirit of improvement, and compromise which
distinguishes our country and It's institutions, ii be-
comes us to enquire whether it be possible to
cure the advantages afforded by the present Bank,
through The agency ofd Bank Of The United States, so
modified IN lis principles and structures TO obvlate
constitutional and other objections. 1t is thought prac
ticable TO organize such Bank, with the necessary
officers a branch of the Treasury department, bas-
ed on the public and individual depostes &c. &c
In times of public emergency the capacities Of such
an institution might be enlarged by Legislative proyis-
ions
Extract from General Jqcksons third annual Message.
Entertaining the opinion heretofore expressed in
lation TO the Bank ofthe United States present
gansed, felt 1t duty in my former messages frank
y tn disclose them in order that the attention of the
Legislature and of the people should be seasonaby di
recteI 10 that important subject Without more par
tcular reference to the views of the subject then
pressed leave It for the present to the investigation
OF an enlightened people and their representatives.
Ertract fran GEN. Jacksons Veto Message
That Bank OF the United States, competent TO al
the duties which may be required by the government
might be organized as not to infringe on our owl
delegated powers of the reserved rights Of the States
do not entertain doubt. Had the Executive beer
called upon to furnish the project Of such nstitu
ton, the duty would have been cheeriuy performed.
These extracts will suffice to satisfy the most scep
uca we think, that If a National Bank cannot be es
tahllshed without forgetting Mr.. Jefferson and tramp
ling his doctrines IN the dust, that Mr. Madison, ant
even General Jackson himself have shown sincula
alacrity to forget Inn and uampe down his doctrines
/ Is the Argus answered