Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1841-08-27
Ntal'N NS.,aSiMEi.

| been considered by the, with sincere dos re 10
CONFORM my action IN regarl io II, to that of The
| 'wo Houses OF Congress. Bv TIC Constitution
II is my any, either t. approve the bl, nv
S'Thm- W or 10 rclhrA II nh my object uIs, go
the House in which it orirna;cd | canuo
consccnionsly gvc by approval, and pro-
ceed to discharge the duty required Of me BY
The Constltu ion--to give my reasons for disap-
prov lrg.
The power OF Congress to create a National
Bank to operate I;rss over the Union, has been
a question OF dispute from the origin of our Gov
eriilnent. Men most Justly and dcscrvcdIy rs-
,ecmcd for their high intellectual endowments,
their virtue and their patriotism. in regard to il,
entertained different and conflicting opinions
Congresses, have differed. The approval of one
Pres dent has been followed by the dsipproval
OF an"her, The people OF different times, have
acqucsced IN decisions both for and ar1lns'.-
The country has been, and still is deeply ag-
'atc1 by ths unsettled question. 1t Wli sutli"e
Tor me to say, that my own opinion has been
uniformly proclaimed to be against the exercise
OF any SUCH power by this Government. On al
suHabe occasions, during period of twenty
| I'VE years. the opinions thus entertained have
heeh nhreservcd.v expressed | declared It in
the Legislature Of my native Sac. in the
/ House OF Representatives. of the United States
1t has been openly vindica'ed BY me, ami in the
Senate Chamber, in the presence and hearing
| II many who are at this time members OF TINT
BODY, 1t has been affirmed and rnlfim,d, in
speeches and 'epnrts there III ul,, and hv votes
there recorded. In popular assemblies have
| uhhceualhTly announced it 1; and in the Inst
public declaration winch made, and That hn.
short tine before the late Presidential cleo
ton, reerredio my previously eX res ell op n
| unS as beng those then enter AIMED by nn
Wth tuIl know edge of the opinions thus en-
| 'criaIn'd, and lever concealed, | was elected
by the people Wee President of the United
states. BY the occurrence of a coniin rencv
provided for by ihr Constitution, ana arising
under an impressive dspansatou of Province. l
succeeded to the Presidential office. Before
entering upo the duties OF that office. / took
an oath that | would "preserve, project, and
defend the Cons tuition of the United S,ates'
En'er'aningth the np!n,ons alluded Ia, and having
taken this oath. the Senate aud the country viii
see that could MT give my sanction to meas
ure OF the character described, wlthlu, sur
rendering all claim 10 the respect OF honorable
lnen--ali conh lcnce Oh the part Of the people
al ScIi-reSi ect-aii regard for moral and rel-
gons obi cations, without an observance of
winch no Government can b. prosperous, and
no People can lie happy. It. would be 10 com
NIT a crime Whjrh would not wiifulv commit
to ghn any earthly reward, and which would
justly SUBJECT me 10 the ridicu,e and scorn OF all
vrtuous men.
deem It entirely unnecessary at this time to
eutcr upon the reasons which have brought NY
mnd Ia the co1' c o. feel and entertain on
tins subject. They have been over and over
+ again repea ed. i some Of those Who have pre-
cedeI me III this hlgh ctii:c have entertained
ana "'oWed different opinions, yield all con-
hdeucc that their Convictions were S.atc |
cam on 10 nave the same measure mced out
|" 'I'!StH, w IiNou' gong iur'hcr INTO the ar
Sn"cHI, WIZ say lhi'' IN Iotklng To the pow
us I" ms government To coICt'- safely keeN.
ana d'sourSe the public revenue. and ncden-
taly 10 regulate the commerce and exchanges.
have no, been able 10 satisfy myself that the
Establishment by TINS Government Of a hank Of
discount. IN the ordinary acceptaton Of that
term, was necessary means, or one demanded
by proprie'y, to execute those powers VIVA,
can the local discounts Of the bank have to do
Win The collecting, sate-keepug. and dsburs-
ing OF The rcycnue So tar as the mere DIS
counting oi piper Is concerned, II is Juite M
ihitrfal To inns question whether the discount
= obtained nj ) ate bank United States
Blhk ihey are both equally loCa!--bnih be-
GUAM! ana TON ending ~ local accolnm0da-
ton. " hat influence have local discounts,
granted oy any form 81 bank, III the regulating
OF me currency and me eNchanres Let the
"'9'"lH VI 'Ic Ii'c 'H'cu 'otatcs b4nk ala Us IN
answering 'hIS inquiry.
For several years after the establishment of
tI"t institution, dealt almost exclusively IN
local discount ; and during that period the
country was, for the mos part. diSappoin,od
III 'ie Consequences anticipated from rs Moor
p"railon. Aunorm correucy was not prov iled
exchanges we're not regulated, and little or
nothing WaS added TO the general circulation !:
ana IN 1870 Is cnbarrlssm2nis had Lccome so
@rca', that the directors pettioned Congress to
rePe', 'hal aftcIe oil the chafer winch made
~ ''o'c9 'cfeN"o'G every "here ~ payment OF
t"e Pno'c dues u had' up to that p"'''l' dealt
10 p"' very sH!I eN'e@t !" tN'"aI'@m,' either
n'.t's" VI ",'"'S'V' an" d. Ia as - :, rs "Pe-
.H'"''S III 'n't l"c "l"H"i''e" 10 l"'ie more
',n r Su,J' o "',,o,T % u''larS per- a"num, y
/ and -, i.2p ~. I.,l.,,,. i, -, w.
~ alnut nno l'IraI -
r'r,,n', ,tn .,ns 80 a r.''',i III III
,bos, 'n,,nc,a ,.,..o,:,, '.i,t
o,, ,ho n,,',',no ~ ',''-
~, W DA' 'q 49,
the negotiations in The exchanges were CARED