The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-07-08

the Constitution in other words, that the power oil
establishing branches 10 the States, without The con-
sent Of The States, unconstitutional The Sc
cond was that if it were right, constitutional, and
lawful for them 10 insert such provision yet, under
the circumstances in which they placed, Il was
not expedient for them to exercise that power.
He would ask the attention of the Senate 10 the hrst
of these two only objections; and would like 10 know
by what authority these agents located in the
States lift We're not consitutonalto establish branches
He maintained that If one could constituionaly be
exercised without the consent of the States the other
could be also and Of the conslitutionalily Of the
former, one had doubt
He would next inquire, the constituiionality being
granted, what the ground of expedency urged In
favor OF this amendment The amendment, If II pre-
vailed and became part of the bank charter would
produce the very evil which il designed by II TO
avoid What would be the reasoning OF the States
il their assent required 10 the establishment OF
| branches In State where there were many bank
ing corporations they would not think they wished H.
being as they would consider, rival corporation
There would be about many opinions, IN legsla
tive assembly, 10 the terms on which the States
would grant IT. establishment as there were members
in the body Were there not some who might think
proper 10 tax theml Were there not men IN the city
Of New York that would Twenty years might, IN
others be considered long time for the permanent
existence of branches within their limits and they
would the power To exclude them al auy tme
and where would be- the bank theni There might DC
some little doubt in the States, where they were TO
locate them there being rival citles; IN tins respect
there might be nreconceable differences OF opinion
and they might get place at all. Would not the
amen dment ii adopted create, foment and increase
the very State jealousies and exci,enents, anu ee-
ings which il lis object TO guard against ~
seemed 10 him il would; and II was their true policy
10 prevent them and not 10 stir up these feelings, pui
let them rest in their present quietness
On what possible ground OF expcdency could they
establish the agents proposed by this amendment, and
not establish offices Of discount and deposit The
amendment did not in terms, deny the authority o.
Congress establish branches without the consent Of
the States but the practical effect Of II would be the
same the acknowledgment of the want OF that pow
er. He did not speak with entire confidence, but
there danger and very great danger of this They
proposed TO insert provision requiring the assent 81
the States and did they believe that in time to come
when the people had talked these things, and for
mer cxcitements were revived, that there would be
less occasion for inserting ~ This amendment II IN
corporated into the BILL was like an amendment ex-
tending the right of surage-they could never get II
back
He felt the importance of having national insttu-
ton to revive the business of the country Ii was
of the objects for which they had here, to carry
on, the wishes OF the people IN the establishment OF
such an institution He viewed the question of con-
stitutional right clearly settled and although in this
amendment there might not, in terms, be denial of it,
he satisfied that there any principle of x.
pedlency from which he should give his assent to the
amendment but, on the contrary, he must record his
name In the negative, and IN doing so, ne eit that ne
discharglng duty, he conscientiously thought
which, ifhe omitted he should be reckless to the Com
monwealth that sent him here.
Mr. SMITH, of la, moved that the Senate 60 into
Executive session.
Mr. CLAY hoped the motion would prevail. He
should have been glad if they had 90, the question
the amendment to-day, but he no chance for it,,
and there some business, he knew, which was i'm
porlant and the public interest would suffer without it
was transacted He hoped they would now go into
Executive session.
The motion for this purpose carried, and after
time spent therein, the Senate adjourned to
Tuesday next.