The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-08-31

(and Il gives pleasure 10 pay msrited tribns ~
the nigh character Of the gentleman from Kentucky
'na nc himself ana ne only, would have been thought
ofas the candidate for the Presidency ON The con-
trary 1t was because his party were unwilling 10 make
that the issue before the People in the Presidential
election that the honorable and distinguished Senator
from Kentucky did not obtain that civic crown which
he so well deserved as the reward ofa life devoted 10
what he considers the true interest and glory OF his
country But the issue was avoided az hazardous -
Let me go little more into detail the opinions
| OF General Harrison. What was his course in the
other House Of Congress- in 1873, when he and Pres
dent Tyler were gallant compeers in the first war with
the Bank Of the United States He went even fur
,nef than the President did in his opposition TO the
,i John iyier IN conformity with those conser
valve principles Il the term in its broad and gene
raj sense( which form part Of the Jlcs education
OF every Virginian, was univ Hing TO revoke solemn
chaHer once granted but General Harrison brought
9R as ne had been in the holder and eer school ofih
West, was for summary annullinp the charter of
the bank To this vote he himself referred az show
ing that he was no Bank or Federal candidate
ITO his words) for the Pr sidentia Office In
1922 In published address the people Of his dis
tric, he openly and distinctly avowed his opposition
10 bank He there proclaimed himself TO be disci-
pie of the Republican school Of 1893 and explicitly
declared his opinion that'the Bank of the United
States had been established in violation Of the Const-
tuition of the United States In his letter OF 1886 10
Mr. Sherod Williams a distinguished member Of
Congress from the Senator'S own State he said he
would not give his sanction TO Bank Of the United
States unless, by the failure of ell other expednts
should be demonsra be necessary 10 carry on HE
operations ofhe Government and unless there should
be general and unequivoca manifestation Of the will
of the nation in favor of such institution and then
only as fiscal, and not as commercial bank
am reluctant, Mr. President TO refer TO any thing
that may have said or done in the common cause
during the late contest but may be permitted to say
that for one with honest conviction Of the truth
Of the statement and founding myself upon authentic
declarations Of Gen Harrison himself did in pub
tn rnvf ilnv
nal leaning and opinions to be decidedly against Bank
ofthe United States Certain il is that hundreds and
thousands Of our countrymen voted for him without
the least reference to bank. The issue Of bank or
no bank was not made in the Presidential election
In the mind Of the honorable Senator no doubt it
was prominent issue but il was issue his friends
never ventured to propose to the country. General
HARRISON IN the latest expression Of his opinions in
the Presidential canvass, Gin his Dayton speech said
that there was grant in the Constitution of power
to create National Bank and "it could never be
constitutional in the that the powers grant
ed to Congress could not be carried into effect icout
such an institution. That dura necessitds must be
clearly shown or the power to charter bank did not
exist. Yet we now told that John Tyler, by ac-
ceptng the nomination of the Convention as their
candidate for the Vice Presidency, although his OPT
mons against National Bank had been fully and re-
peatedly proclaimed, and borne the most fami-
liar records of the national history incurred an I'm
qualified obligation to sign bill for Bank of the
United States in the contingency which has made him.
the United States.
am firmly impressed with the belief, Mr. Presi-
dent, that if General Harrison were now living, and
IN the same circumstances that surround President
Tyler, he would like him. never yield his sanction to
the establishment Of branches Of such corporation as
this bill proposes within the limits of the several
States, without their free and unshackled In
his letter to Sherrod Williams he says (adopting the
language of Gen. Jackson a similar occason) that
he believed "a Bank Of the United States, competent
TO all the duties which may be required by the Gov
eminent, might be SO organized not to infringe
our delegated powers or the reserued rights Of the
States !" and il, after the example Of the honorable
Senator from Kentucky, may be permitted to allude
to passage Of the secret political history Of the
times, will state that have been informed that the
assent IF the States TO branches within their limits
a favorte and fundamental idea with him in the or
ganizaton Of such an institution. This information,
ut least has been communicated to me by gentlemen
who stood in relations of the intimate confidence
with Gen. Harrison, one of whom was member Of
the committee who came to this city to perform the
melancholy duty Of attending the remains OF the de-
ceased President to their final resting place at North
| Bend.
| think il is abundantly demonstrated that there
was no such issue bank or. no bank presented to
the nation in the late Presidential election And even
If it was otherwise the wel-known opinions Of Mr..
Tyler candidate for the Vice Presidency being not
only unrecaned, but, the contrary, re-afirmea he
at least was under no pledge, express implied, to
give his sanction to institution which he believed
to be unconstitutional The question has been raised
here whether he will sanction any organization in the
nature Of bank to conduct the fiscal affairs Of the
Government have no means OF information
this subject which are not common to other gentle
men, From the terms of the Executive message I
collect that, If some fiscal agency be organzed
which, while its primary object is TO conduct the fnan
cia operations of the Government would incidentally
aid in regulating the exchanges and currency Of the
country without infringing Oh the sovereignty and
reserved rights Of the States he would deem such an
institution legitimate and constitutional Such in
stuon, infer from the message, would In his view,
be very different thing from the former money lend
ing, trading, specializing stock jobbng Bank of the
United states, ruling and riding the insi utons
and sovereignty of the States
The Senator from Kentucky infers, from the mes
sage that President Tyler would have sanctioned the
bill had it been in modified anu restricted form,
even to qu,re the of the States.
Mr.. CLAY said he must here again interpose. He
fet very the honorable Senator did not intend to
missiate any thing he had sad. He did not say what
the President would or would not do with regard 10 a
bank limited TO the power OF dealing III exchange
de had thought that, IN respect To such bank, he
would moi have required the previous assent Of The
States, as the Senator now sa d he would But what
he had sand that II be manifest on the
sage that the President would have vetoed such a
bank proposed by the Secretary OF the Trea-
sury]
Mr. r. resumed. | am not auth rized TO say what
the President would or would not have done in by
pouheticai case, which has not occurred, and is not
likely conclnde, from the language OF The
message, that, whether in reference TO exchange
bank bank of DISCOUNT, II It were intended 10 be
pushed beyond fiscal agency, and was to deal
In exchanges generally by extended operation
through branches In the States he would hold
sent Of the States TO be necessary. wish IT, howev
err be distinctly understood that do not say this by
authority Of the President 1t necessary this
time to discuss the question what would would not
satisfy the views expressed by him.
But the Senator from Kentucky, by way of pictur-
ing to U.S. holder relief the rebeous contumacy of
the President, says that his OF this bank bill
against the general sense Of the country against the
will Of Congress, and against the unanimous SEMI