Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-05-16
mr.. VAN BUREN's REPLY
TO THE
DEMOCRATIC STATE CoNVEN-
TON OF INDIANA.
KindeFhOOk, Feb. IS, l843,

Ienu0men-l nave uto Ano uOAOI "
Feceivs your letter, written in behalf Of
the Indiana Democratic State COnVen.
tion, AskiRg my views and opinions in re-
lation, lst, to the charteriug Of Nation
d Bank, or any other national institution
By Whatever name it may be called, au'
thorlzed 10 issue bills Of credit for bank
ing purposes or to regulate exchanges,and
Oftho eonstiiutionality and exPedleney
of such an Institution; I'd, 10 the diStri-
button Of the Proceeds Of the Public
Lands among the several States Of this
Union; Sd, to Protective Tariff; 4th, 10
an amendment Of the Constitution Slill
further limiting the Veto Power, and in
quiring in conclusion, whether | will a.
bide the decision OF q national con-
vention Of the Democratic Par
", in tho selection Of candidate for the
Presidency, and whether will give my
support and influence 10 the election OF
the nominee Of said convention, It not
myself nominated BY Il.
II affords me much pleasure to comply
with the request Of the convention; and
have only to regret that the number and
importance Of the subjects embraced in
their inlenogatories, and the necessity Of
some explanations to do justice to the
views entertain in regard to them, will
unsvoidably extend my reply to a much
greater length than | could have de-
Oired.
am opposed 10 the establishment ol
aNational Bank in any form, or under
any disguise, both on constitutional
grounds and grounds Of expediency.-
The power TO create such an institution
has not been given to Congress BY the
Constitution, neither is Il necessary to
the exercise of any Of the powers which
are granted; and if exercised, would be-
asst always has been, highly injurious to
the public welfare. These opiniOns,aIike
adverse to the constlutionality sGd expe'
diency ofa National Bank, have been
frequently and extensively laid before
the people, and sometimes on occasions
ofdeep interest. They were expressed
in nv letter 10 the citizens assembled at
Shocco Springs, in N. O., when my name
was before the public for the
Vice Presidency; repeated in 1885,
when standing in q similar relation to the
. Office ofPresident Of the United States,
in letter to the Hon. SherrOd Williams,
which was widely disseminated; and Feit
Grated in my FIRST message to Congress,
at the extra session In 1887, when the
attention Of the whole country was again
drawn to the subject by the failure Of
the deposit banks to fulfil their engage
ments with the Government. The Opin'
ions and principles aVowed on these vari>
Gus occasions, have undergone no other
change than that Of additional conviction
Of their truth, derived from events that
have since occurred.
I might rest here content with this ex-
plcit aVowal, and proceed to reply to
your other inteTrogStOFieS, we're It not
that this appears TO me proper occasion
10 advert 10 the deplOrable calamities in.
Rctsd on the people by the conduct and
final catastrophe Of the late bank, through
the peTVeTsion of its means and the q.
buse OF it's power. Il is true that this in
slilUtion is nov no more. II has sunk
under The weight Oi its own enOrmitieS,
and has left nothing behind but the
wrecks Of its career. But tho interests,
pecuniary and political, the parents who
first gave It birth, end the nurses BY whom
il was fosteFed, still survive, with the
same means sf producing another Of
spring, and the same disposition 10 ON
ploy them, whenever favorable OppOr.
iunity presents itself. The question Of
q National Bank is still before the peO.
pie, and will continue to be, so long as
avarice and ambition see In Il the means
OfQratifying the love Of money and the
love Of nowoE. Il IL one OF the great lead
ing measures Of party which will never
Be- extinct in this country. Il is essen.
ti0l TO the acquisition, 90 well as the pre-
seTvaiion offs power, and will never be
Yelinquished while there oxiSn hope OI
he attainment. The only security Z.
Rainst its revival, 10 in the public opinion
end even that has more than once beer
found TO be an insufficient barrier. Fol
this reason, conceive Il proper that ev
srv occasion should be taken 10 recall
70 the public recollection, By way Of Z
warning example, what otherwise Il nigh
bo better for the honor Of our country IA
bury In oblivion.
The mischiefS inflicted on individuals
By the abuse Of powers Of this potent in
siiru,ion, have been 30 general as 70 i'm.
press the public mind with q sufficiently
clear perception Of their magnitude; but
the extent Of its power ca0 only be justly
appreciated BY those who administered
the government daring the period Of lie
hostility. The agency which the unpar-
allelsd abuse Of this power, exclusively
conferred for the public good, had in pro.
ducing those OmbanOssments In tho bus
iness concerns Of the country, as we'll as
the peeuniaTy affairs Of ihe State and
General Government, ltis believed, is
,,,t ~ clearly and UenaralIv understood