The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-02-04
STREAMING AT A GNAT.


time would have seemed moIehill. The ghost
OF tooth-ache will keep man from going to
church, who would hobble TO theatre or pup
pet-show, with all bis joints swollen and aching
from rheumatism. The labor we delight IN,
paysics pain"
When Mr.. Clay, finding il impossible 10 bully
or cajole the Senaie into the passage OF ian old
fsshoned bank" BILL was reduced TO the neces-
sity of inserting the compromise section, re-
curing the assent of the States, he himself did
not attempt to disguise The magnitude OF the
concession" but justified il on grounds OF pat
riolism "Weconsder" said he, speaking for
himself and his friends. 'that we have made
great sacrifice of our own wishes and prefer
ences in conserving to the proposed mod'iica-
ZION of the branching power. But il has been
made for our country and our friends"
There were some few members (anti-State-
rights men) of the Wing party, no, blind wor-
shippers at Mr.. Clay's shrine, who considered
the sacrifice" as indeed some what too great.
Mr. Adams seized the first opportunity of de-
nouncing the concession" in the most violent
terms as not only surrender OF the power TO
charter bank, but gross violation of the Con-
stitution.
Such, however, was the blessed frame of
mind of Mr.. Clay and his friends at that time
such their intense desire, TO use his own words,
"that the whole nation might rejoice in having
once more restored 10 it the inestimabe benefits
Of sound currency"-tha, they thought it mere
churlishness to let few constitutional scruples
stand in the way of the accomplishment of so
glorious an object The two or three dissenting
voices were drowned in the clamor of approba
ton from Mr.. Clay's followers. Like true Mos
lemia, they bowed their heads and cried, "Aiia
Acbar! God is great, and Mahonet is his
prophetv
They could not see the "State-rights" fea-
ture which pervaded the substance and essence
of Mr.. Clay's bill, like great beam, upon
which the entire fabric rested but when the
same feature appears in the Exchequer, the
merest mote, how wonderfully is their power OF
vision sharpened. How eloquent their bursts
of indignation!
When Mr.. Clay's Bank bill was in question,
they thought with him that even if ''there should
be some half dozen States that expressly dis
sent that fact will not at all impair the utility
. of this national institution ~ The loss of a
dozen arms or so, would be very little to Bra-
reus, and Cerberus could spare head.
monster, is monster still, if il has to hop upon
three legs, or blink with one eye. And
so Mr.. Claws followers, were prepared 10
swallow any thing proceeding from such a
source.
But, when they find that single function of
the proposed E1chequer, not at all material 10
its existence, is made dependent on State as
sent, the terrible consequence of this - conces
sion" bursts upon them all at once. "What a
monstrous conception !" says Mr. Garrett Da-
,is in his report "What an incongruous sys-
TEN of Government we should have A most
irregular and absurd mode of amending the
Constitution %
A most Objectionable principle! quoth Mr..
John p. Kennedy in his rcpcI', tends so deci-
dedly to anarchy-so Taught with mischief
ought 10 be disconnfenanced at The FIRST mo
ment in rhich IL is presented 10 Congress-
Why did not Mr.. kennedy unite with Mr..
Adams in his efforts, both by speech and vote,
10 discountenance il in the case of Mr.. Clay's
bill2
Mr. Pendleton, referring to this feature in the
proposed plan Of an ESchequr, in his recent
speech, said "when he was asked TO throw
back this Government 10 miserable depen-
dence on the State Legislatures, he could not
but reflect that there were other constitutional
facts" besides the Executive Veto" Yet he
did not seem to reflect on il when he voted for
Mr.. CLAWS bank bill.
Mr.. Clay's "copcession," notwithstanding
his labored attempt TO disguise add mystify IL,
wasa direct appeal TO the States for permission
TO pass law which, without their assent would
have been imperative.
The Excbequer, on the contrary, would have
been in opera ion in every State in the Union,
with or without its assent
In the case Of the Bank, the power of receiv-
ing private depo,ites and Of discountng was
considered by many as essential TO its existence,
as it could have had no existence without stock
holders, and no stockholders wi bout promise
Of profit.
Ia the case of The Exchequer, the power to
receive private deposit and deal 10 private bills
of exchange, was merely incidental. II wa. 10
be established FOR national purposes, as fiscal
agent Of the Government; and being establish
ed, it was authorized, under certain restrictions,
10 grant facilities to individuals in the same
manner that our ships Of war, built for public
purposes, allowed TO convoy merchant ves-
sells, and, in some cases transport private pro-
perry.
Mr. Clay was willing to make the exercise Of
the right OF the Government to establish Fis
cal Agent, for national purposes, dependent on
The assent OF the States. The friends Of the
Exchequer would establish Fiscal Agent, in