Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1841-08-19

United &Iafes, fcfieJsfag, tgith has 90
jeotions, tie Bill % ineorponsts tksl
Fiscal Raak q fAs Unitsd States.
To THE SEsATE OF THH JEITED STATEs:
The bill eoliiled "Aa Get toiscoFpoFSis
the subsefibsrs 10 the Fiscal Bsnk o. the
United Staies," which originated In The
Senate. hes been considered By me. With
sincere dssire TO conform my action 10
regard 10 Il, 10 that Of The two Houses Of
Congress. By The Cons,iluiioo tits made
my duty. either 10 approve the bill By
signing II. OF 10 return Il With my o5jee-
tons. 10 the House in which u originated.
cannot eonseieu;iOusly give Il my sp-
provsl. snd ] proceed to discharge the
duty required Of ne BY the ConSiituiion---
10 give my reasons for dissppTOving.
The power Of Congress 10 create . Ma
lional Back TO operate per % over the
Unioo. has been q question Of dispute
from the origin Of our GoveFnmsnt.-
Men most iasliy sod dsseFvsdly esteemed
for their high inieIleeiosl sndovnenlS.
their virtue, and their patriotism. have. IN
regard 10 il. enleTlained different and
cor flietiog opinions. Congresses have
differed. The approval Of ons President
has been followed BY The ditspprovsl Of
another. The people, sl different times.
have sequieseed in decisions both for and
sgSinSt. The country has been. end still
is deeply sgiiaisd BY this unsettled queS-
tiOa. II NiE suffice for NE 10 say. that
my own opinion has bsen uniformly pro-
claimed TO DO against the oxeTciSe Of asy
such power by this Govsrnmsnt. On eli
suitable oeeasionS. during q period Of
twenty. ave years. the opinions thus en-.
iertained have been unFeservOdIy ex.
pressed. ! declared IL ia the Legislature
Of my native State. In the House OF
Representatives, Of the United States il
has been openly vindiea,ed by NE. 10
the Senate Chamber. in The presence and
hearing Of many who are at this time
members OF that body. Il has been affirm
ed and rsSfhrmed. Ia speeches and re-.
parts there made and by votes there re-
corded. 10 popular assemblies have
unheSitstingly announced il; and the last
public declaration which I made, End
that but short time before The lsie Presi.
Dental election. referred 10 my previ.
ouSly expressed opinions a. being those
then entertained by me.
With full knowledge Of the opinions
thus entertained, ard never concealed. I
was elected by the people Vice President
Of The United States. BY the occurrence
Of . contingency provided for by The Con-
siituiion, and arising under an impressive
dispensation Of Providence, I succeeded
to the Presidential Office. Before enter
log upon the duties Of that Office, took
an oath that would "prsSerVe. protect.
end defend the Constitution Of the Uniied
States" Entertaining the opinions 81.
luded 10, aud having taken this oath. the
Senate and the country will see that
could not give my sanction 70 q measure
Of the character described. without sur.
rendering ell claim 70 the respect Of
honorable men--sll confidence on tie
part Of the people--all selfrespeet, Ell
regard ioI moral add religious obliRa-
iiohS, without an observance Of which 90
Government can be prosperous. aud no
people can be happy. Il would be. ia
commit crime which ! would not vii.
folly commit 10 gain any earthly reward.
and which would justly subject me 10 toe
Tidieule snd acorn Of Ell vit;uouS men.
] deem Il entirely unneeessaTy ct Thu
tima 10 enter upon the reasons which
have brought my mind 10 the convictionr
feel and entertain on this subject
They have been over and over again re.
lpeaied. 10 some Of those who have pre-.
eeded me 10 THE high oEee have enter.
tanned and avoued different opinions. 1
yield all condolences ihai their conviction,
we're sincere. I claim oniy 10 have TIE
same measure melted out 10 myself
Without going further into the argument
] viii say that, IN looking 10 the power
Of this goserhment 10 collect. safely keep
and disbuFse The public revenue. ahd in
eidsbtaIly 70 regulate The commerce and
exchanges, I have not been sble 70 satisfy
myself that the establishment by this Go.
vsrnment Of q bank Of discount. ia the or.
diuAFy aeeepiaiion Of that term, was q ne.
ceasary means. o. Ons demanded By pro,
pEiety, 90 execute Ihoae powers. Wbai
ean tha l0esl discounts ofthe bank havo
20 DO 9Th TIE collecting. cafe -ksepinq
snt Disturbing Of the rsvea6e9 So IA,
~ the mere diseouhtinG % paper is COO.
esrnsd, u 10 quite iDmaieFisI 10 this ques.
too whoihsF The discount IL obtained a I
State Bank OF q Unitsd States Bank
They are both equally local-5olh begin.
tttN. so Aeta HAaNaN ~ n laEAl leeulifN O.
dalton. What influence have local die.
counts, graeisd By sny form of bsak. IN
The regulating q ihs currency and TIE
exchanges Let ihs history Of the late
Uniied States Bank aid ps 10 ansusrinr
this inquiry.
For several years aner lhs establish
meet d 'hst Institutes, u dealt almost
eaelusiyeiy 10 ioeal diseounts end dor.
iag lhat period ne counify VS.. fof ths
most part disappointed 10 ibo conseouen.
gee anticipated from its incorporation -
A uniiorm currency vas noi provided
ezchanges we're Bot Tsguisisd. cod iHlis
o. noibing vas addsa % ne general cir
euiaiion end % 1870 iis embarrassment,
bed bscoms ao great ihai iha direcior,
iPehti0ned ConEssss 90 lepeni lhai sFiiela
Of iho chansF which made iil soist o..
eeivabis evssy where On paymsas 81 pub
lie daea. % bed aP 90 ibtt period. dasll
% bui very tmsll sHisal 10 ezchaneas
either ioIeien oF domestic. bnd 81 isis q.
1929 iis operations en- ihat hns amonniea