Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-09-16
VET N 0. 2.
M ESS AG E


Keeping and disbursement Of the public
Rerenue, by means Of a Corporation
10 be styled The Fiscal CorPoration Of
The United Sia.es."
TO the House Of Representatives.
Of The United States:
1t is with extreme regret that ] feel
myself constrained by the duty faithfully
to execute the Office Of President Of Tho
, United States, and to the best oiIny abili-
~ "io preserve, protect and deGend tho
constitution of the United States," to re-
turn TO that House in which it o, ,iginated,
the Bill "to provide for the better colee-
ton, safe keeping and disbursement Of
the public revenue by means Of u corpo-
ration to be sty led the Fiscal Corporation
Of !ho United Sta!es." with my written
oblections.
In my message sent to the Senate IN
the 10Th day Of August last, returning
the Bill "to incorporate the Subscribers
10 the Fiscal Bank Of the United S'a,cs,"
| distinctly declared that my cwn opinion!
has been uniformly proclaimed to DO
against the exercise 4" Of tho power oi
Congress to create a National Bank to
operate per Sc over the Union," aud en-
tertaning tina. cpinion, my main objection
to that Bill Was based upon the highest
moral and religious obligations Of con-
science and the Constitution.
] readily admit, that, whilst tho quail
fed Ieio with which the Chief Aiagis-
trate is invested, should be regarded,
and was intended by the wise men who
made i, q Part Of the CONSTITUTION, ss q
great conservative principle OF our ays:
TEN, without the exercise Of which ,on i'm
portant occasions, mere representa,iyc
majority m,ghl urge the government, in
| its legislation, beyond the limits fixed by
its iramcrs, or might exert lis just powers
too hastily or opprcsslvely; yet, Il isa
power which ought TO ha most cautiously
exerted, and perhaps never, except 10 i
case emincntly involving The public inter-
est, or one in which the oath OF the Pres:
! iSent, acting under his convictions both
mep,q and moral, impcriously requires
its exercise. 10 sprh a case he has no
alternative. He must either exert tho
negative power entrusted is him by the
f Constitution chiefly for it's own prcscrvar
tion, protection and defence, or cogWH
an act Of gross moral turpiiude. AIera
regard TO the w,l Of a majority, must
not, in a Constitutional Republic like
ours, control this sacred and solemn duty
OF a sworn officer The Constitution IT,
Sc rel ard and cherish as the eMbodied
and written will Of the whole people OF
. The United States. ii is their nxcd s.J
fundamental law, which they unanimous
| ly prescribe TO the public iunctloparjes,
their mere trustees and seryan!s. Ihia
their will, and the law which they have
given us as the rule of our action, huS
no guard, no guarantee Of prescrvatioi,
protection, and defence, bIt the oaihi
WHICH il prescribes to public oificcrs,
the sanctiiy with which they shall reli-
giously observe those oaths, and The pa
iriotism with which the people shall shield
il by their own sovereipgiy, which has
made the constitution sapIeNe. II nipst
be exerted against the will of ma,a
representative majority or not AT all. Ii
10 alone in pursuance Q! HAT VII that sGS
measure can ever reach the President;
and to say that because n majority ~
Congress have passed q bill, the Presi-
dent should therefore sanction il, is 10
abrogate the power altogether, and 10
,, render its nse rtion in the consultation q
work Of absolute supererog alton. The
!, duty is 10 guard the fundamental will of
the people themselves from in lhis easa
= admit nninlentional--c change or infac.
ton by majority in Congress-: aud 10
that light alone do regard the conStin,-
iional duty which now most relHci sntlY
discharge.
Is this bill, nov presented (9T ny PRy
proval or disnpproval, such bI'I ~
have already declared could not receive
my SANCTION Is it such a bill as calls
Tor the exercise of the negative power
under the constitution Docs il Violate
the constitution by creating National
Bank TO operate per Sc over the Unioni
| Its title, in the first place, describes 'is
/ general character Ii IL IAN act To pro.
vide for the better collection, safe keep
+. ing and disbursement of the PUBLIC rev.
enue by means of a Corporation, tobs
styled the FISCAL Corporation Of ,hq
United State;." In style, thcp, j. u
plainly national in It's character. lis
, poue ers, functions, and duties, are those
pertaining TO the collecting, Keeping and
dis6ws'ng the puBItc revenue. he means
by which these ore to be exeried, IL p
Corporation, TO be styled the Fiscal Cor
;, pora,ion Of the United Siaies. Ii " 2
corporation created by the Congress II
the United States, in its cbpracter OF =
national legislature for the whole Union,
f. to perform the fiscal pprposos, meet ibs
fiscal wants apd esigencics, supply The
; fiscal uses, aud exert the fiscal agencics
of the treasury Of tho United States
Such is its own description Of l'seli.--
DO its provisions contract lls own jple
r They do not. IL is true, that by It's h,St
e section il provides that il shall be csinb-
9 lished in the District Of Columbia, hut
. The amount OF its capital the manner "
: which us stock is TO be subscribed for
a aud held--the persons and body corpo-
o rnte and polite by whom IFS stock may
be held--lbe appointment Of It's directors,
and their powers aud dulics--Ils fundn-
mental articles, especially that TO esial'-
10