Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-15


the degree ot legal protection which the branches
would enjoy IN the sevetal States which might ad
init them. Concede the power OF Congr,ss TO eS
tab!lSh National Bank, and the right to pro;ec
lis existence and its operations, necessarily results
to Congress. Deny that power, and it mus, b
wholly dependent upon the Sta The Comm I
tee have inserted in this bill adequate provisions 4
punish counteTiccrs Of the issues OF the Bank, an,
its officers, agents, and servants, who may emJcz
Z.e It's funds. These provisions valid and vii
be osc'ua, the superstition OF the existence, II
the Federal Government, OF power 10 establish
National Bank, but, il no such power exist, or
existing, you orber 10 execute II, these provision
will lose all their force and efficacy For Congress
cannot It Il is not authorized to establish, doci
not mean TO establish a National Bank pass pona
laws operating beyond the territory OF this District
The enactment o, penal legislation, operating to de-
! puve man OF lite or liberty, ~ the highest imngna'
| ble exercise Of human authority. Congress cannot
extend its protection Of the Banks OF the District
OF Columbia, beyond the limits OF the DstIict into
| the limits OF the States Thesc alone must afford
I them protection, or they would have there no Ia
| gal protection. Now what would be the condition
OF this Fiscal Bank, to crimes committed against
il in the States In the States admitting branchesl
l In the States refusing the admission of branches
My friend from Virginia has argued to prove that
Congress possesses this power To make such Bank
this is that when it's brought into existence 10y
the authority of Congress, ITS corporate capacity Is
complet.; and that Congress may invest It with the
privilege OF contracting with the States for the m.
troiucuon OF its branches. When introduced, he
thinks the purposes offs institution may be
plished-r There is no Doubt repeat, that Congress
may create such Bank; but II IS, nsVerthe issS,
nothing more nor less than Bank OF the District OF
Columbia. lit should have any exterior action,
through offices agencies situate beyond the Dis.
triet, that exterior action would not result from the
legislation OF Congress, but from the legislation OF
the States by which their consent granted TO
eStaS ish thsSe Offices agencies within their limits.
And the States would have Just as much right to
allow OF these Offices or agencies watcher there was
any grant from Congress not to the corporation,
IN its charter, to establish them. For there bc
no doubt, presume, that the Bank Of the Metro
polls might now establish such an office or agency,
IN any Safe that would permit 1t, notwithstanding
the silence OF charter that subject. The Penn
sylvana Bank ofthe United States, 1t has been I'M
dersood, hes or had its agencies IN other States,
which must have depended solely upon the tolerA-
ton of their laws.
No amendment 20 the charter, made by the COM
mt &c, has comm Indcd, from the Senator from Vs..
warmer commentator than that which denies to the
Parent Bank all power OF dscOuntlrg within the
District, and compss u 20 transact that part OF the
business OF banking, through It's offices, beyond the
District. Considered as National Bank with
branches, emant'lns from, and protected within the
States by the national authority, think that feature
is worthy Of oil the Senator'S admraton.-BLl If
IL is 10 be regarded as 4 mere Ds.r,t Bank spring
ing from the power OF local lGS station, possessed
Congress, II would be certainly most anomalous,
Il no. ridiculous feature. In this view OF II, Con-
gross will have made, in virtue Of It's local power
OF eg.sAtion, great District Bank which IS stript
OF all essential power OF shnkns within the District
and trans ali its important business beyond the
boundaries Of the District. We shall have made a
sor, Of monster indeed with body, destitute OF iie
animation or action where II ahIdes, but which may
throw out all around 1t into the States It's .ong and
huge paws branches TO conduct the most extern
sive operations there Mr. President. is this such
Nauonsl Bank as tue people Of the United States
eXpec; from Congress
The Senator from Virginia has invoked a spirit
Of concession, compromise and Cancellation IN our
deliberations. | believe, SIT, that have not been
heretofore found wanting in yielding 20 the influence
OF such spirit But there are some cases Of princi.
pie which ADM; OF no compromise, and fear that
this IS one. The question Is, National Bank OF
ne National Bank, cOns.l:ut onlIty or unconstitu-
uonlity, power or no power. How are these op-
p1slte properties orqus.tes 10 be reconcJeI or com.
promised There IS no mean or middle term. Il
you establish really National Bank emanat NJ
from sustained and protected by the power OF Con-
sress, and operating within The States, wIihou, their
consent or control, those who deny the existence Of
such ms tuition dissatisfied, and think they
are called upon 10 yell every thing. And, on the
oher hand, If you establish a mere District Bank,
with branching powers m the ) gtes, dependent up.
on their will, the friends Of the constitutional power
Of Congress think ihAt you mock the people with IN
Incompetent Institution and call them 10 surrender
every thing.
And this It seems to me, is the sort OF concession
| or compromise which the Senator from Virginia
calls upon u. to ma s-a concession Of every thing
on side and nothing hls-a compromise in
--hieiI lie cts all and gives nothing. We were cx.
tremey glad, Mr. President, TO find the honora ble
senator, although under another respectable fac,
uniting with the Wings TO bring about that Great
Change IN tie administration ofrhe General Govern.
ment which commenced on the I'm Of March last
some OF US INDUCED the hope tina, prlltng by the
i.iuslrIous example OF his lamGn,sd neigh0Ors JET
icrson, Madison, and Monroe, he might come 10
the conclusion tina, the Bank power was no longer
an open or dIspuiatle question:; but, II he could not
/ agree with them and US, we hoped that other in
Stances, on important measures Of concurrence OF
opinion between Us might compensate for this so lie
difference. FOr one, was disposed to cave the Sc
nator in the unjis,uTbed possession OF his opinion.
hoping that, II he could not unite with Us IN es,ab
snIng an etieCtul. Nltiona. Bank, that we mirh,
| 10 wfEou, his vote On that question. But would
as nam, II Il be kind right IN him TO seek 10 dis
tur1 US ~ the quiet CnJOymGn. Of our opini1ns2 II
ne cannot come 20 the twCHty-sIX or tweuty-ssven
WING Senators, who believe that Congress has the
constitutional power 10 establish National Bank.
ought he to end.ly0r 10 drag them 10 him! Is not
SUCH process ugJlus, ui. iAe laws Of srayliatior7
Here Mr. EIves said that the amendment he BRO
posed was reported by the Secretary Of the Treasu.
ryl That Is true, and the Senator is entitled 10 al
the benefit he can derive from thai fact fee qIi.e
sure however, that the Secretary does not entertain
different lniOn OF tho constitutional power Of
Congress from ] must, then, en.reat the SEN
nto. from Virginia 70 iOrbslr pressing his amend.
m'ni, and, d he cannot give up his own pecIl ar
Opinion, TO leave us 10 tue unI 81 IrDCI enjoyment VI
our long cherished convictions
lie thinks, lnuced, that the Bank power is a ques-
ton not 50 firmly settled, by repeated decisions. cs
have supposed 10 % be. Why sir, how stand.
the maite7 Twenty seven year, ago, Mr. MadJ.
son considered aud treated Il as a settled question
After that new Bank Of the United States was e.
tabiIshed which .Dsied twenty years. DIrin, Its
existence two decisions OF the Supreme Court Of the
UuUCd states, ,tHe Bunk with the State Of Ohio
and Mccullough -. Mary and, involving ia tax.
Ins nni p.nl powers Of the SI,s.J one, If no,
both, uuinImpIs.y rTurOIuc.d, affirmed the c Es.
leucs Of the power. lu Congress, In 1892 a bIII
passed by considerable maJOr.t.ts 20 rschlTtsr the
Bank. PsD.e OruIyu, 300 aII the yrrDYs modes Of
rs manlesan0I, 100 legislative assemblies and Do
popular meetings, has proc med The construction
airy md CKPoJsn1y OF National Bank. I.IsrO,
true iHat ihc rC-e.ert on Of Gen. Jackson was do.
clsiOn odgc'ss ~ ths Bank power. For 90 Li. veto
Oi the feguIrtgr, be- admitted the utility of B4ry
AMI stated thli lapped 90, be could have furnish
ed r plan. lie H1s yD.,d Tor, therefore, by aryc
numbers. 10 my pcEyU4. know ledge, he was. Nv
many, under FOIL expectation that, Il rec .a-ted
NIuDn1 Bank would be established ~ the rI.s
OF Mr. Won BIruu's election, fhs arrz.c oue.tgu Of
Bank or no Bank Wa not lIry Put 81 l,sHc. f.
was mixed up with D.Hcss; and one, if mo-, t,g, Of
us eDmreliI1r' were not understood % ID. unegn.
d u1na'y DO favor u 'he r0asr
]. has been argued fual NC must Ireo,rg,si. .tl.
amendment 10 lhc charter and pass IL In tr,- I,,,o
I OF We shall get no Bunk, ana illusions have BON
distinctly made 90 opinions Cufsr,1ired rIary yrs,a
DO not think thI' Dr. Is compatible with ue r,,r.r,
| which Isdue % the Chief Magistrate Or the d r...y
| md Independence Of the Senate, 10 mike sulg 4,
lusionA Whatever differences gentlemen MAJ d. We
H Do. D.. [