Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-01-30

uis.oners-or What! For defru,ine the .St,..s Of ,i
Government For dealing In private bills OF exchange
] lie asked gentlemen II there hall dozen pnVato
Stockholders incorporated by charter with $40, 600 900
plta TO receive pri, funds dcposiIc deal In bills
exchange aud charge premium those bills, whether
tina, would be bank noti No human being would dis
pute that that would be bank. H. them this amount
OF money and these faculties invested in Co
venment institution, in every Ut the word
Government hank IL a hank OF deposite and
change based On capital q SlO00O,0O0 Of the public
OF this raised for that purpose invested
the Secretary of the Treasury snd three commissioner. sp
pointed aud removable by the President of the United
States and although could discount promisso
I IL still bank.
lie Spprshended that the influence of that name which
endorsed this proposition would be felt in this country
Mr. Webster had at ono time exercised most command
influence the mind Of this county all subjects of
this description. Nh NJ know that in his district
there was strong party in favor Of this proposition
party which had been formed this proposition, that
growing strength that BY possibility he might in III,
OF coming find il paw his court
somewhat to. He would argue further than the chair
man Of the Committee of WAYS and Means MIR FIT
NoRE had argued in his the subject be-
ing Government hank and he placed himself on an i'm
movable foundation the which he had read from
Mr.. WebSer's speeches this question. Mr. w. said il
YVES experiment which had been tried in this
country but that the experience Of ohe countries full
ami ample the subject and that the history OF banking
showed that Of all human inventions Government bank
was TIE worst, and on that authority Mr. NJ planted him.
self.
But on the other branch Of this subject, Mr. Webster
avoided the effect OF all his full reasoning this point
BY saying that non-uscr IL not surrender. II
in this plan. II indeed IL detached subject
at ALL then IL would BE- The power OF passing
uniform bankrupt law had existed the Constitution and
had been used from 1901 down the passage
present That a non-user But this user.
They called pass this law with this condition,
that twas to be law law, the State Legislatures
shouldmake Il would be law in the States where the
Legislatures assenied IT, and law where the Lcgsa.
lures dissened from it. far they could
make it-a parts OF the Union, and a
ohers-a under State authority and pes
SION And that was the only way IN which the Government
could surrender it, paramount sovereignty the State Co
ycrnmen ut ALL by passing laws and leaving the States
them not according their pleasures; and ii Mr.
Webster had demonstrated proposition earth
clearly than another he had proved that this principle threw
back the articles Of the Confederation, and stripped
the Constitution Ut vital and distinguished features
the want of This principle which the wisdom Of
sncestor-those immortal who framed the Consttu
uonsaw the cause OF the wreck OF all the attempted
cJnfederncics in times gone by.
The gentleman from Massachusetts had quoted from
ThuC ydde. and mad spoken the ancient Grecan and
Italian considerations The OF their downfall that
the central Government the common national head had
only the propose the laws, while the execution Of
them, the executive power, IN the members OF the Con
commentator than any thing else. The consequence
that State had one and another another that
foreign nations had faith in the head Of such
Conederacy, and the only by whichth
onal authority could be enforced. No had illustrated
powerfully tins great principle OF considerations as Daniel
Webster had.
day that he would something OF principles only bu,
about The gentleman from Massachusetts, MIR.
CUSHINs,) and gentleman from Virginia, Mr.. WISE, and
the gentleman his colleague, iOm kentucky. lNr DAvls)
had all represented Mr. Clay a living incarnation and
mpersonaOn OF the Wing party They had brought down
difficulties this, that there constitutional fact
arrayed aganst party fact. The gentleman from Virginia
had expressly said that the President the IN.
OF the hG party; and that the OF their tayouc
White House, but in this Capitol; that he
the resi- leader OF the Wings, had aIrayed himself against
the the White House, ami had represented the quar-
rel i question about men, and about principle
After this he think unlusthablc pro-
hgrg aitfr
the President IN this House. Mr. VI. had often said so,
and he said What they quarrcing with the
Wing parry about Did Mr.. Tyler really desire insti
tuition which should supply the People with currency =
And did he ms conscience believe that TINS could
operation without the Oi the States and had
the Whi passed and presented for his the plan
Of Just such institution Wa the Government 20
appoint three Of the directors and rholgh the
bank be located this District, could extend Its
branches where else without OF the States; and
did IL Congress power repeal the act and
did Thu the whole ground, and and remove
hi scrup.e-