The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1841-08-27
II f S 5 A G Z
of the President of the Enitcs! States, rciuru-
ing, with his obicciiou-. the gsiii so hn-
corporate t.Ic EiSCHi Bunk OF iIic lnisCd
States, August no, Isit.
To he ,VfIa'e Of he United SAFES:

nc '''"Tt " me tHitti y WCb
The bill entitled "An act to incorporate
the subscribers to the Fiscal Bank Of the
United States" which originated in the
Senate, has been considered by me, with
a sincere desire TO conform my action in
regard to it, to that Of the two Houses of
Congress. BY the Constitution it is
made my duty, either to approve the bill
| by signing it, or TO return it with my OBJ
jcctons to the House in which it origina-
ted. ! cannot consccntiously give it my
approval, and proceed to discharge the
duty required ofmc by the Constitution
to give my reasons for disappearing.
The power of Congress to create a
National Bank to operate per Sc over the
Union, has been a question Of dispute
from the origin Of our government. Men
most Justly and dcscrvcdly esteemed for
their high intellectual cndowmcnts, their
virtue and their patriotism, have, in re-
gard to it, entertained different and con-
llicting opinions. Congresses have diff
fercd. The approval Of one President
has been followed by the diaapproval Of
another, The People at different times
have acquicsccd in decisions both for and
against. The country has been and still
is agi'ated by this unsettled question. l.
will suffice for me to say, that my own
opinion has been uniformly proclaimed to
be against the exercise Of any such power
! by this Government. On all suitable oc-
casions, during period Of twenty-five
years, the opinions thus entertained lave
been unrascrvcdIy expressed, declared
! it in the Legislature ofmy native State
In the House Of Representatives of the
United States it has been openly vindca-
ted by me.
In the Senate Chamber, in the presence
and hearing of many who are at this time
members Of that body, it has been affirm
cd and rc-aflirmcd, in speeches and reports
there made, and by votes there recorded.
In popular assemblies have unhesita-
tingy announced it; and the last public
declaration Which | made, and that but a
short time before the late Presidential
election, | referred TO my previously OK
pressed opinions as being those then en-
teraincd by me; with full knowledge
of the opinions thus entertained, and never
conceded, | was elected by the people
Vice President of the United States. BY
the occurrence of a contingency provided
for by the Constitution, and arising under
an impressive dispensation of Providence,
| succeeded to the Presidential office.
Before entering upon the duties of that
office, took an oath that | would "pre-
serve, protect, and defend the Consltu.
ton of the United States
Entertaining the opinions alluded TO-
and having taken this oath, the senate ant
the country will see that could not give
my sanction, to a measure of the charac
ter described, without surrcndcring al
claim TO the respect Of honorable men
all confidence on the part Of the people
all scll-rcspcct-all regard for moral anc
religious obligations; without an obscrv
ancc of which. no government can be
prosperous, and 10 people can be happy
1t would be to commit crime which
would not wiIluly commit to gain any
earthly reward, end which would Justly
subject me to the ridiculc and scorn 0
all yirtUous men.
deem it entirely unnecessary at thi,
time to enter upon the reasons which have
brought my mind to the convictions fee
and entertain on this subject. They have
over and over again been repeated.
some Of thoaa who have preceded me il
this high Office have entertained ant
ayowcd different opinions, | yield all con
fdencc that their convictions were sin
ccrc. | claim only to have the sam,
measure mctcd out TO myscll.-Wthou
going further into the argument, | vii
say that, in looking to the powers Of this
Government to collect, safely keep, ant
: disbursc the public revenue, and incident
ally regulate the commerce and exchanges
, ! have not been able To satisfy myscI
t that the establishment, by this Govern
; mcnt, of bank of discount, in the o,di
! nary acccp,ation of that term, was nc
c cossary means, or one demanded by pro
pricty, to execute those powers. Whs
can the local discounts Of bank have t
do with the collecting, saIe-kccping, an
disbursing Of the revenue !
> SO ia, as the mere discounting Of papc
is concerned, it is quite immateriaI TO thi
question, whether the discount is obtair
ed at a State or a United States Bank,
They are both equally local-both be
: ginning and both ending in local ~
r, commoda,ion. What influence have |,
cal discounts, granted by any form I
banks, in the regulating OF the currenr