The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-06-07
FOR THE MADISONIAN.

FOR THE MADIsoNIAN.
Ma. EDIroR:-As great outcry has been raised
against Mr.. Tyler, by Mr. Clay and his friends, for
not changing his opinions the Bank question,
if Mr.. Clay had never changed his. Mr.. Clay is
older man, by some Is or l6 years, than Mr.. Tyler
and consequently an older politician. In the year
1871 Mr.. Clay delivered speech the Bank ques-
ton which probably had powerful influence in
bringing Mr.. Tyler 10 the conclusion that National
Bank was both unconstitutional and dangerous to the
liberties Of the country Since then, Mr.. Clay has
changed his opinions, but Mr.. Tyler has not. Yet
Mr.. Clay would have the wings desPise President
Tyler for inconsistency, and laud him to the skies Gas
his friends dog for consistency. In 1911, Mr. Clay
held the Bank to be unconstitutional; and his great
speech that occasion has perhaps had greater in
fuence in bringing the People TO his (then) conclu-
sons than any thing else; yet he, and his friends,
consider it reasonable in Whig not to boast of Mr.
Clay's consistency, and to yield up their long cher
ished opinions upon the Bank question.
The truth is sir, Mr. Clay and his friends do not
intend if they prevent it, that any thing shall be
done for the country under Mr.. Tylers Adminisra-
ton they want to distress and ruin peruading
the whole country with hope that the People may be
induced at last to accept the services Of who has
promised them much. They intend to straddle the
old hobby "a National Bank) booted and spurred with
all the implements, which were made use of when
Mr.. Clay was a candidate against Gen. Jackson
together with all the thunder and fury they pour
the head of Mr. Tyler; and after all these ex-
ertions are made, the great "Harry Of the West, !"
WILL in all probability, get the vote Of Kentucky, and,
erhaps, "itte Delaware" As the speech of Mr..
Clay in 1911, may not be recoected by many of your
readers, you would be doing great service to
them and the country, by publishing it eutire
at least month"; during the next three years.
have it before me- and will give few choice extracts
from it. This speech delivered in the pure days
of the Republic, when but little was known of the
corruption, vlany rascaly, favoritism, and danger
their conduct it be possible that the free People
of this Union will consent, for Mr. Clays bene
fit, to have such Monster he desires, again fas-
tened upon them Mr.. Clay says, in his speech in
1911, If, on this occasion, my worthy friend from
Georgia, (Mr. Crawford,) has gone over into the
camp of the enemy (meaning into the ranks of the
friends of the Bank,) is it kind in to look back
upon his former friends, and rebuke them for the fl
Hty with which they adhere to their old principles y
This is the very language that Mr. Tyler can truly
apply to his old FRIEND Mr.. Clay; and he might add
is it kind to denounce me as weak, vacillating and
faithless," because l have held fast to my old OPT
Mons, whilst you have deserted yours. Again, Mr..
Clay says This uagrant po,cer to erect Bank after
having wandered throughout the whole Constitution
in quest of some congena spot to fasten upon has at
length been located by the gentleman from Georgia
on that provision which authorizes Congress to lay
and collect taxes SIC. In 1871, the power is referred
to one part of the instrument in 1871 to another
HE will now, suppose, prove that the power exists
in the distress clause of the Constitution Sometimes
it is alleged to be deducibe from the power to regu
late commerce. Hard pressed here it disappears,
and shows itself under the grant to coin money
The sagacious Secretary of the Treasury in 1871,
pursued the wisest course-he has taken shelter be-
hind general high sounding and imposing terms
[MrClay is adopting the Secretary's course, and
finds the power to exist under weak, vaciIlating,
and faithless Presdent."l He has declared, in the
preamble to the act establishing the Bank that it will
be very conducive to the successful conducting of the
national finances, will tend to give facility to the OBJ
tanning of loans, and will be productive of considerable
advantage to trade, and industry in general No allu-
sion is made to the collection of taxes.
What is the nature of this Government 1t is en-
phaticay Federal vested with aggregate ofspecifed
power for general purposes conceded by existing
rsigntes, who have themselves retained what is not
conceded. 1t is said, there are occasions in which
it must act on implied powers. This is not contro-
vered, but the implication must be necessary and OBJ
viousy flow from the enumerated power with which
it is allied The power to charter companies is not
specified in the grant, and contend is of nature
not transferable by meie implication. 1t is ofhe
most exalted attributes Of sovereignty. In the
else of this gigantic power we have seen an East In
dia Company created, which has carried dismay, DESC
laton and death throughout the largest portions
Of the habitabe worlda Company which is, in ITSELF
sovereignty has subverted empires and set up
new dynasties-and has not only made war, but war
against its legitimate sovereign. Under the influence
of this power we have a South Sea Company
and Mississippi Company, that distracted andcon-
vulsed all Europe, and menaced total overthrow of
all credit and confidence and universal bankruptcy.
Is it to be imagined that power would have
been left by the wisdom ofthe Constitution to doubt
full nferencel"
Again he says: "a Bank is made for the osensible