The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-08-19
SPEECH OF MR.. CLAY, OF Ky.
~ THE SENATE OF THE u. sTATEs,
On has Amendment 10 he Bank Bill,
Tuasday. J.Iy gill.

Tuesday, July 9Th.
Mr.. CLAY, Of Kentucky, said that ia,
defect of hearing st,l continuing, to whicl
be alluded yesterday, deprnlag him Of TIN
satisfaction Of hearing other Senators, al,
preventing him from SO regulating OF mo
duatlng his voice as 10 be layorabiy hcarl
by them, he had occasion for all the knt
indulgence Of the Senate 10 the few ohser
vallous which he now meant to address Il
II. during tie progress Of this bill, Nr
President, il has been clearly manifested
tIat there is decided majority Of the Sen
ate IN favor If the establishment Of Ma
tioual Bank. For himself, he believed thai
1t stood out prominently a. the first among
those measures Of relief which he lerveuly
hoped would be sent out by Congress, from
its present session, 10 re establish the busi
ness and the prosperity Of the county,
Other measures would undoubtedly extend
much relief, but il would be limited aud not
general; whilst every section, every inter.
est, every person, rich and poor, would be
benefited by the blessings o.! SQUAD cur.
rency. Ii we pass all ether contemplated
measures, aud fail TO pass this, we shall
fall far shorl of the Jlst expectations Of a
suffering people. Bur the passage Of this
only, without any other measure, would
have fully justified The conyocatlon Of Con
gress.
But notwithstanding the urgent necessity
Of National Bank, II is well known on all
sides OF the Senate, that the bill as II at pre-
sent stands, in respect to the branching
power of the bank, canno, pass this body /;
but will be rejected by majority of 2G to
%, if all the members be present. Under
these painful circumstances, what ought TO
be doue Shall We return home without
fulfilling the hopes of ,to.e who sent US
here, in respect to a National Bank We
have thought il due 10 the country, and to
our own obligations, to leave no honorable
means unemploy ed 10 bring about con
curfence ot opinlon, !! possible, among those
members Of the Senate "ho agree as TO the
necessity of u National Bank. We have
accordingly conferred aud consulted to
gelher, and interchange opinions and views
in tina, spirit of cancellation aud concession
which should ever animate those who are
unl'cd 10 opinion as 10 the object to be &C.
coEplisned, but are unfortunately divided
on subordinate points. We have not look
ed beyond the Senate. He tMr. G. does
not know, does not wish, and has not sought
10 know tho opinion of The chief of co or.
dlnae branch Of the government, in respect
TO the proposition which he was about TO
submit. Not that he was wanting in high
respect, personal and official, for the exalt-
ed person TO whom he alluded, but because
il was, in bis (ilr. C.'s) Judgment, against
the spirit and genius OF free institutions,
that the deliberations Of the Legislative
branch Of the Government, during the pro- /
gress Of great measure under It's consid 4
GRAFTON, should be affected or regulated by .
opinions, real or imaginary, Of the Execu /
tive head.
The result of the consultation to which T.
he has referred, has been an amendment
Of the 10th fundamental rule, which he was
about to propose. That amendment pro
poses q modification Of the branching pow
nr Of the bank as reported By the commit.
tee. He adhercs (and lie believes all Of
The nineteen political friends who voted
with him in rejecting the amendment pro
posed by the Senator from Virginia, Mr..
Rlves) adhere 10 the mistaken conviction
bat the best form 10 confer that power on
he bank is that which was proposed by the
]
irely unchanged. But seeing that II was
mprac(cable to carry through the Senate
/ bill with that modification Of the power,
hey and their differing brethren have anx.
ously sought a substitute which might be
satisfactory to all. This he hoped was
'ound IN the amendment which he would
now read
&" And the SAID directors may also estab
ish one or more competent offices of dis,
count and deposile IN any territory or dis
rict Of the United States, and IN any State, :
with the assent of such State and when
established, the said Office or offices shall I
rot be removed or Withdrawn by the said I
directors prior TO the expiration Of the char I
er, without the previous essent of Con. I
,ress Provided, in respect TO any State {
' hich shall not, at the first session of the
legislature thereof held alter the passage
f this act, by resolution or other usual leg !
sla,ive proceeding, Internationally assent
IT dissent TO the establishment OF such of I
ice or Offices within it, the assent of the {
aid State shall hereafter be presumed; and {
rov,ded, nevertheless, that when 1t shall a
ecome necessary and proper for carrying ,
nto execution any Of the powers granted
n the Constitution, to establish an office or c
hices in any of the States whatever, and t
he establishment whereof shall be directed c
" law, it shall be the duty Of the said dl. i
ectors to establish such office or offices &C. d
ordingIy." ;
Two opposite opinions prevail as 10 the |
power. According TO one, the a
revIous assent of the states IS necessary ; t
ccording to the other, it is not. The diff e
Guilty has been 10 reconcile these conflict. 7
no opinions. That IS the object Of this B
mendment. We, who think the power q